What Sanasa Development Bank does

Sanasa Development Bank (SDB) is a Sri Lankan licensed specialized bank headquartered in Colombo, founded in 1997 and publicly listed on the Colombo Stock Exchange (ticker: SDB). The bank operates an island-wide network of 94 branches across all nine provinces, supplemented by a digital banking stack comprising the SDB Mobile App, the UPay mobile payment wallet (integrated with LANKAQR and mCash), SMS Banking, POS terminals, and Business Internet Banking. SDB originates from the SANASA co-operative movement and maintains deep institutional linkages with co-operative and voluntary societies used as both deposit-gathering and re-lending channels. Headcount is reported at 1,001-5,000 employees.

SDB's product portfolio is organized into Personal Banking (savings accounts segmented by life stage — Lakdaru for children, Jawaya for youth, Uththamavi for women entrepreneurs, Upahara for senior citizens; fixed deposits including Power FDs; leasing; personal, housing, and all-purpose property loans; pawning and gold loans), SME Banking (SDB Divi Saviya, Merchant Quick Loan, Uththamavi SME loans, Value Chain Financing, Business Saver, Corporate Top Saver), and Co-operative Banking (revolving, project, infrastructure, liquidity, and re-lending facilities, plus Sahanya and Co-operative Top Saver accounts). Lending rates span 3% (refinance/disaster schemes) to 30% (unregistered vehicle leasing/pawning), with fixed deposits ranging from 7.5% to 13.75% across tenors.

SDB generates revenue primarily through net interest income from lending, supplemented by deposit-funded investment income and transaction-based fee and commission income from digital banking, cards, and forex services. The bank is regulated by the Central Bank of Sri Lanka, deposits are insured under the Sri Lanka Deposit Insurance Scheme (up to Rs. 1.1M per depositor), and it publishes Basel III Pillar III disclosures. Strategic priorities include financial inclusion for women entrepreneurs and rural co-operatives, deepening the UPay digital ecosystem, and channeling multilateral funding (e.g., the SARP partnership with IFAD/Government of Sri Lanka) into climate-vulnerable agricultural districts.

Name

Sanasa Development Bank

Legal name

Sanasa Development Bank

Website

https://sdb.lk

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Sanasa Development Bank is a Sri Lankan licensed specialized bank operating 94 branches nationwide, serving retail, SME, co-operative, and women-entrepreneur segments through savings, lending, and digital banking products including the UPay mobile wallet.

Ownership category

akta.pro rank

Product category

Retail and SME Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industries

Agricultural & Rural Development Banks (FSABAKAE), SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

• Retail banking services
• Small business lending
• Co-operative banking
• Savings and fixed deposits
• Digital payments wallet

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income on Loans and Advances: SDB bank generates primary revenue through interest income from its diverse lending portfolio including personal loans, SME loans, women entrepreneur loans (Uththamavi), housing loans, leasing, pawning, gold loans, and co-operative sector financing. Lending rates range from 15.00% to 30.00% per annum depending on product and borrower profile.
2. Interest Income on Deposits and Investments: The bank collects deposits through savings accounts, fixed deposits, and investment certificates and earns interest income by deploying these funds in lending and investment activities. Fixed deposit rates range from 7.50% to 13.75% p.a. across various tenors.
3. Fee and Commission Income: The bank earns fee income from various services including loan processing, account maintenance, digital banking transactions through UPay, POS transactions, SMS banking subscriptions, and foreign exchange services.
4. Rural Agribusiness Credit Facilities: Through the SARP partnership, SDB bank provides affordable credit to smallholder agribusinesses in climate-vulnerable rural districts of Sri Lanka, with SARP funding approximately USD 82 million over 2022-2027.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels6 records

Core offering

Sanasa Development Bank (SDB) is a Sri Lankan licensed specialized bank that provides retail and SME banking products and services, including savings accounts, fixed deposits, personal and home loans, leasing, pawning, gold loans, SME financing, value chain financing, co-operative sector lending, and digital payment services through its UPay mobile wallet. It serves individual consumers, SMEs, women entrepreneurs, co-operative societies, and rural agribusinesses across Sri Lanka via 94 branches and digital banking platforms.

Product overview

SDB bank operates as a Sri Lankan retail and SME bank with a comprehensive financial services portfolio organized across Personal Banking, SME Banking, Co-operative Banking, and Digital Banking divisions. The Personal segment offers savings accounts (SDB Lakdaru, SDB Jawaya, SDB Uththamavi, SDB Top Saver Plus, SDB Upahara), fixed deposits, investments, leasing, loans (home, personal, all-purpose property), and pawning/gold loans. The SME division provides specialized lending (SDB Divi Saviya, Merchant Quick Loan, Uththamavi SME loans) and business deposit solutions. Co-operative services include sector-specific loans and savings for societies and NGOs. Digital Banking encompasses mobile app, UPay digital wallet, POS, SMS banking, and Business Internet Banking. The bank operates 94 branches island-wide and focuses on financial inclusion, particularly for women entrepreneurs and rural communities.

Differentiator

Problem solved

Functional benefit

Brands

• UPay: A digital mobile payment application enabling users to utilize multiple digital payment options and value-added services.
• SDB Mobile App
• SDB Divi Saviya
• Uththamavi
• SDB Uththamavi
• SDB Jawaya
• SDB Upahara
• SDB Lakdaru
• Sahanaya

Products and services

• SDB Uththamavi Savings Account Savings account for Sri Lankan women entrepreneurs offering interest rates up to 4.50% p.a., 1% concessionary pawning rate, digital banking access, and capacity building programs. Targeted at women aged 18-60 with 50%+ business ownership.
• SDB Uththamavi Loan Facility Loan facility for women entrepreneurs providing up to Rs. 1 million with 2 guarantors, repayment periods up to 5 years for capital financing and 2 years for working capital, with quick emergency loan access of 10% of total loan value.
• SDB Lakdaru Kids Savings Account Children's savings account for those below 18 years (opened by parent/guardian) with interest rates 2.50%–4.50% based on balance, hospitalization cover up to Rs. 50,000, Grade 5 scholarship rewards, and gift schemes tied to balance milestones.
• SDB Jawaya Youth Savings Account Savings account for Sri Lankan males aged 18-55 offering low-interest SME loans, capacity building training, and special personal loans for employed account holders.
• SDB Upahara Senior Citizens Savings Tailor-made savings scheme for Sri Lankan senior citizens over 55 years offering special interest rates up to 4.50%, SDB VISA debit card, and loan facilities against deposits (up to 80% of deposit at 14% interest for 1-year renewal).
• SDB Top Saver Plus High-interest savings account with competitive rates and flexible access for personal banking customers.
• SDB Divi Saviya Loan Scheme SME loan scheme providing Rs. 50,000 upwards for recognized business holders and Rs. 250,000 to Rs. 1 million for production/business association needs, with leasing options up to Rs. 500,000 for hand tractors, motor bicycles, and three wheelers. Repayment period up to 3 years.
• Value Chain Financing Supply Chain Financing and Dealer/Distributor Financing extended to entire value chain from raw materials sourcing to end user, including financing for Top Tier Local Corporates, MNCs, and SME suppliers/dealers.
• Merchant Quick Loan Quick access financing for SME merchants at 20.00%–22.00% p.a. fixed to support business operations and growth.
• SDB Business Saver Business savings account with tiered interest rates up to 6.00% for SME sector.
• Corporate Top Saver High-interest corporate savings account with rates up to 6.00% for balances of Rs 50 million and above, with loan facilities up to 80% of deposit at 14% interest for 1-year renewal. Minimum deposit Rs 25,000.
• SDB Sahanya Savings Account Savings account for voluntary societies including Death Donation Societies, Welfare Societies, and Village Development Societies with special bonus interest.
• Co-operative Top Saver High-interest savings account for co-operative societies with rates up to 6.00% and loan facilities against deposits.
• SANASA Co-op / NGO Savings Account Savings account connecting rural co-operative societies and NGOs as contributors to the national economy.
• Regular Fixed Deposit Fixed deposit product with attractive rates across 1 to 120 month tenors (7.50%–13.75% p.a.), maximum security, up to 90% immediate cash back facility, starting from minimum Rs. 10,000.
• SDB Upahara Fixed Deposit Fixed deposit for senior citizens over 55 years with enhanced interest rates (12 Months: 9.75% / 24 Months: 11.25% / 60 Months: 13.75%) exceeding standard FD rates by 0.25% across tenors.
• SDB Leasing Vehicle and equipment leasing facility with flexible repayment options for personal and business customers, with rates 15.00%–30.00% p.a. for unregistered and 15.50%–25.00% for registered vehicles.
• SDB Ranmini Gold Loan Gold-backed loan facility with competitive 16.00% p.a. fixed interest rate for 3 and 6 month tenors, providing quick access to credit using gold as collateral.
• Home Loan Housing finance facility for purchasing or constructing homes with flexible repayment terms for personal banking customers.
• Personal Loan Unsecured personal loans for various financial needs with competitive rates for individual retail customers.
• UPay Digital Payment App Multi-functional mobile wallet enabling users to link SDB and other bank accounts, conduct LANKAQR merchant payments, mobile top-ups via mCash, fund transfers, split-the-bill, and value-added services. Available on Android and iOS.
• SDB Mobile App Mobile banking application for SDB customers to access accounts, conduct fund transfers, balance inquiries, payments, and digital transactions via Android and iOS smartphones.
• Business Internet Banking Online corporate banking platform for SME and corporate customers to manage business accounts, view transactions, and initiate payments.
• SMS Banking SMS-based banking service for transaction alerts and basic account information access for retail customers.
• POS (Point of Sale) Terminals Point of sale terminals for merchants to accept card and LANKAQR digital payments, integrated with UPay merchant portal for e-commerce and offline retail.
• SDB VISA Debit Card Debit card accepted at SDB ATMs, VISA ATMs nationwide, and VISA merchant outlets across Sri Lanka.

Quantifiable outcome

• SARP partnership provides approximately USD 82 million to strengthen resilience and market participation of rural households in climate-vulnerable districts over 2022-2027.

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Partnerships

One partnership is on record.

• Smallholder Agribusiness and Resilience Project (SARP)coreStrategic or Co-development Partner · 12 March 2026SDB bank signed an MoU with SARP to provide affordable credit facilities to smallholder agribusinesses in Sri Lanka. SARP is a six-year initiative (2022-2027) funded by IFAD and the Government of Sri Lanka with approximately USD 82 million, designed to strengthen resilience and market participation of rural households in climate-vulnerable districts. Under the partnership, SDB bank helps beneficiaries meet their 55% equity contribution requirement, enabling them to implement sustainable agribusiness ventures and participate in value chains.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Commercial Bank of Ceylon PLC: Sri Lanka's largest private-sector commercial bank, offering retail, SME, and corporate banking with a wide branch and digital footprint. Directly comparable to SDB in core depository and SME lending activities, though operating at substantially greater scale and broader product depth.
• Hatton National Bank PLC (HNB): Major Sri Lankan commercial bank with strong SME, retail, and corporate banking franchises and a nationwide branch network. Comparable to SDB in its SME and retail deposit-taking orientation, and a natural competitor for the same co-operative and rural customer base.
• Sampath Bank PLC: Mid-tier Sri Lankan commercial bank focused on retail and SME banking with strong digital offerings. Comparable to SDB in target customer segments (SME and retail) and product mix (savings, loans, leasing, cards), competing directly in many of the same growth areas.
• DFCC Bank PLC: Development-focused Sri Lankan bank historically oriented to industrial, SME, and infrastructure lending. Closely comparable to SDB's development-banking DNA and SME focus, with overlapping rural and co-operative clientele.
• Seylan Bank PLC: Sri Lankan commercial bank offering retail, SME, and corporate banking with a notable focus on digital and SME lending. Competes with SDB for SME and retail deposits, loans, and digital banking customers across the island.
• Nations Trust Bank PLC: Mid-sized Sri Lankan commercial bank with a strong retail, SME, and digital banking franchise (including the FriMi wallet). Comparable to SDB in the SME and digital wallet space, and a key competitor in card, payments, and app-based banking.

Broad incumbents

• Bank of Ceylon: Sri Lanka's largest state-owned commercial bank with universal banking across retail, SME, corporate, and rural segments. A broad incumbent whose rural branch network and government-linked refinance products compete directly with SDB's co-operative and development-banking positioning.
• People's Bank: Major state-owned commercial bank in Sri Lanka with a deep rural and SME presence. Comparable to SDB in targeting underserved and rural segments, but at materially larger scale and with broader product coverage.
• National Savings Bank (Sri Lanka): State-owned savings bank offering retail deposits and housing loans through a national network. Competes with SDB on retail savings and fixed deposits, particularly with senior citizens and mass-market customers.

Regional players

• Lanka ORIX Leasing Company (LOLC): Large Sri Lankan non-bank financial group with deep exposure to microfinance, SME, and rural lending through subsidiaries. Comparable to SDB in serving rural and micro/SME borrowers, but operates as a non-bank finance company rather than a licensed commercial bank.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights1 record

Customer concentration

• Xx.com/sdbbank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sanasa Development Bank