Citizens Development Business Finance

What Citizens Development Business Finance does

Citizens Development Business Finance PLC (CDB) is a Sri Lankan non-banking financial institution incorporated in 1995 and listed on the Colombo Stock Exchange, ranking as the 4th largest NBFI in Sri Lanka by assets. CDB provides a diversified suite of financial products including vehicle financing, microfinance (CDB Minukshiyo), SME banking (CDB Wings), personal loans, home loans, and savings products, serving retail, micro, and SME customer segments across all 25 districts of Sri Lanka. The company holds a BBB(Ika) rating from Fitch Ratings, is licensed by the Central Bank of Sri Lanka, and operates within the Sri Lanka Deposit Insurance and Liquidity Support Scheme framework. As of FY2025/26, CDB reported gross income of Rs. 30.2 billion, total assets of Rs. 214.7 billion (+37% YoY), a lending portfolio of Rs. 169.2 billion (+53% YoY), and PAT of Rs. 4.5 billion (+12% YoY), with the net NPL ratio improving to 1.53% from 3.1%.

CDB's technology stack centers on the CDB Self digital self-service platform, which handles 74% of transactions digitally and saw a 93% YoY increase in users. The company has launched Sri Lanka's first QR Sound Box for merchant payments, operates the patpat.lk merchant platform, and has announced an enterprise-wide AI-enabled transformation incorporating generative AI, agentic AI, and machine learning for credit decisioning, operations, and customer service. Underlying capabilities already in production include automated credit decisioning, OCR/ICR, BOTs, and RPA.

The business model is primarily spread-driven: CDB earns net interest income from its lending portfolio, fee income from financial services and digital transactions, and deposit-funded liabilities through retail savings products. Revenue mechanics are anchored in loan-book growth (+53% YoY) and improving asset quality (NPL improvement to 1.53%), supplemented by strategic partnerships with Micro Cars (vehicle financing distribution), Hayleys Mobility (eShift EV financing), and international funders including responsAbility (USD 21.5M, March 2026). The green financing portfolio exceeds Rs. 31 billion, aligned with a stated Net Zero by 2030 commitment, opening access to climate-linked capital pools.

Name

Citizens Development Business Finance

Legal name

Citizens Development Business Finance PLC

Website

https://cdb.lk

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Citizens Development Business Finance PLC is Sri Lanka's 4th largest non-banking financial institution, providing vehicle financing, microfinance, SME loans, and savings products to retail and SME customers across 25 districts via a digital-led operating model.

Ownership category

akta.pro rank

Product category

Non-Banking Financial Services (Retail and SME Banking)

NAICS

Credit Intermediation and Related Activities (522), Depository Credit Intermediation (5221), Credit Card Issuing (52221)

SIC

Miscellaneous Business Credit Institution (6159), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)

akta.pro secondary industries

SME Term Loans & Growth Capital (FSAKAGAB), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Non-banking financial services
• Retail banking services
• Consumer lending products
• Fixed deposit accounts
• Digital banking platform

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Lending Portfolio Interest Income: Primary revenue stream from interest on the lending portfolio of Rs. 169.2 billion (FY2025/26), which includes leasing & auto loans, business loans, personal loans, home loans, gold loans, and green financing. Lending portfolio grew 53% YoY supported by new disbursements exceeding Rs. 110 billion. Gross income of Rs. 30.2 billion in FY2025/26 (18% YoY growth).
2. Deposit Mobilization and Treasury Operations: Revenue from managing deposit base (savings, fixed deposits, Wakala/Islamic deposits) and treasury/funding activities. CDB Fixed Deposits and Deeghayu Senior Citizen Fixed Deposits offered across multiple tenures.
3. Foreign Exchange Margin: Income from buying rates across USD, EUR, GBP, JPY, AUD, CAD, SGD, SAR, AED, QAR, OMR, KWD under CDB Money Exchange service.
4. Credit Card and Debit Card Fees: Fees from credit cards (World, Platinum, Titanium, Gold, Standard tiers) and debit cards (Visa Debit, Platinum Debit), plus merchant transaction fees from card-accepting partners.
5. Money Remittance Fees: Fees from CDB Money Remittance service for cross-border money transfers.
6. Islamic Finance (Meezan) Profit Sharing: Revenue from CDB Meezan Islamic Finance operations including Wakala Fixed Deposits and Mudharabah Savings products.
7. Margin Trading and Corporate Finance: Fees from CDB Margin Trading and CDB Corporate Finance services for institutional and trading clients.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels7 records

Core offering

Citizens Development Business Finance PLC operates as a Licensed Finance Company providing retail and SME financial services in Sri Lanka. Its core offerings include a diversified deposit franchise (six savings account variants, fixed deposits, Islamic finance deposits), a card suite (Mastercard credit cards in five tiers and Visa debit cards), and a lending portfolio covering business loans, personal loans, vehicle leasing, home loans, and gold loans. Complementary services include money exchange, money remittance, margin trading, corporate finance, and a green financing solution.

Product overview

Citizens Development Business Finance PLC (CDB) is Sri Lanka's fourth-largest Non-Banking Financial Institution, operating a diversified financial services platform spanning personal banking, business banking, digital channels, and sustainability-oriented products. Its deposit franchise includes six savings variants (CDB Real Savings, CDB Deegayu, CDB Platinum Saver, CDB Ranketi, CDB Salary Plus, and the women-focused CDB Wings), a general CDB Fixed Deposit (Dhana Surekum), a senior citizen CDB Deeghayu Fixed Deposit, and a Shariah-compliant CDB Meezan Islamic Finance range including Wakalah Fixed Deposits. Card products comprise a five-tier Mastercard credit card portfolio (World, Platinum, Titanium, Gold, Standard) alongside CDB Visa Debit Cards (Standard and Platinum). Lending products cover Business Loans, Personal Loans, Vehicle Leasing (with Micro Cars and Hayleys Mobility partnerships for EV financing), Home Loans, and Gold Loans. Specialist services include CDB Margin Trading, CDB Corporate Finance, CDB Money Exchange, CDB Money Remittance, and the premium CDB Premier segment. The CDB Self mobile and web platform (with iDeposit and iTransfer features) unifies these offerings into a digital banking experience serving 74% of customer transactions. Adjacent platforms and ecosystems include the CDB QR Sound Box merchant device, the Green Financing Solution with CDB Advance Roof Solar, the CDB SMB Friday SME program, the Wings Ecosystem for women entrepreneurs, and the eShift sustainable mobility initiative. The company is pursuing a strategic transition from a technology-enabled to an AI-enabled organisation.

Differentiator

Problem solved

Functional benefit

Brands

• CDB Self: CDB's digital banking platform and mobile application enabling customers to complete banking needs without visiting a branch; supports iDeposit, iTransfer, utility bill payments, standing orders, fixed deposits, and e-passbook services.
• CDB Wings
• CDB Premier
• patpat.lk
• Meezan Islamic Finance

Products and services

• CDB Real Savings A core personal savings account offering interest rates of 3.0% per annum on balances over Rs. 100,000 and 2.5% on lower balances; one of CDB's flagship retail savings products for individual account holders.
• CDB Deegayu Savings
• CDB Platinum Saver
• CDB Ranketi Children's Savings
• CDB Salary Plus
• CDB Wings
• CDB Credit Cards
• CDB Visa Debit Card
• CDB Platinum Debit Card
• CDB Fixed Deposit (Dhana Surekum)
• CDB Deeghayu Senior Citizen Fixed Deposit
• CDB Wakalah Fixed Deposit
• Business Loans
• Personal Loans
• Leasing & Auto Loan Facilities (Vehicle Leasing)
• Home Loans
• Gold Loans
• CDB Margin Trading
• CDB Corporate Finance
• CDB Money Exchange
• CDB Meezan Islamic Finance
• CDB Money Remittance
• CDB Self (Mobile App & Web Platform)
• CDB iDeposit
• CDB iTransfer
• CDB Premier
• CDB QR Sound Box
• CDB Green Financing Solution (CDB Advance Roof Solar)
• CDB SMB Friday
• eShift (EV Ecosystem)

Quantifiable outcome

• Total assets grew 37% to Rs. 214.7 billion in FY2025/26; surpassed Rs. 200 billion milestone
• +8 more outcomes

Named customers9 records

Segments1 record

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature6 records

Partnerships

21 partnerships are on record, tiered core, minor and flagship.

• Mercantile Cricket Association (MCA)coreGTM or Marketing Partner · 17 June 2026CDB served as title sponsor of the CDB MCA T10 Cricket Tournament 2026, the third edition and second consecutive year of CDB's title sponsorship. Features 26 teams across two divisions competing in 54 matches. Aims to strengthen mercantile cricket and contribute to cricket development in Sri Lanka.
• CCC Grounds (Cricket Club)minorGTM or Marketing Partner · 17 June 2026Venue partner for CDB MCA T10 Cricket Tournament 2026 finals on June 28 at the CCC Grounds. Tournament semi-finals held on June 26.
• Hayleys Mobility LimitedcoreChannel Partner/ Reseller/ Distributor · 16 June 2026CDB signed a Memorandum of Understanding with Hayleys Mobility Limited to introduce exclusive financial solutions for electric and hybrid vehicles in Sri Lanka. The partnership offers customers tailored financing, flexible repayment tenors, exclusive insurance benefits, and lifetime annual fee waivers on CDB credit cards. Supports CDB's Net Zero by 2030 commitment.
• SriLankan AirlinescoreChannel Partner/ Reseller/ Distributor · 1 June 20260% Installment Plans on SriLankan Airlines with CDB Credit Cards. Easy Payment Plans available for 24 months at 0% without handling fee for purchases of LKR 100,000 to LKR 5,000,000 made via srilankan.com. Applicable to CDB Platinum & World cards until 31 December 2026.
• Micro Cars LtdcoreChannel Partner/ Reseller/ Distributor · 1 May 2026CDB signed an MoU with Micro Cars Ltd to introduce exclusive financial solutions customized specifically for Micro vehicles. Micro Cars is the authorized distributor for MG, Chery, SsangYong, and Higer in Sri Lanka. The partnership enhances accessibility via customized financial solutions, flexible repayment tenors, and exclusive insurance benefits.
• DreamScape Private Limited (Playdium)minorGTM or Marketing Partner · 1 May 2026CDB served as exclusive Title Sponsor of the CDB Playdium Pin League 2026 held on May 16th and 23rd at One Galle Face, attracting 43 competing teams. CDB offered promotional benefits including cashback and discounts to its customers through the partnership.
• The Creative Isle Ltd (CAN Market)minorGTM or Marketing Partner · 1 March 2026CDB partnered with The Creative Isle Ltd to host the International Women's Day edition of CAN Market from March 6-8 at Arcade Independence Square, Colombo. The MoU formalizes CDB's commitment to fostering SME growth and inclusive development by facilitating QR payments and exclusive benefits through CDB SELF at the event.
• Clean Ocean Force LankaminorStrategic or Co-development Partner · 1 March 2026Partner in the Adopt a Beach programme launched in March 2026 alongside Marine Environment Protection Authority (MEPA). CDB conserves a 300-metre stretch of Calido Beach in Kalutara, undertaking regular beach maintenance, awareness-building, and community engagement programmes.
• Department of Samurdhi Development (DoSD)minorStrategic or Co-development Partner · 1 January 2026Government partner for the Life to Our Beaches initiative alongside Biodiversity Sri Lanka (BSL) and Marine Environment Protection Authority (MEPA), supporting underprivileged communities and beach preservation.
• VEGA InnovationscoreStrategic or Co-development Partner · 1 December 2024Technology Partner for the eShift initiative, a purpose-led sustainable model designed to accelerate sustainable mobility solutions in Sri Lanka. Includes the eShift Concept Centre, expansion of E-charging stations, and conversion of three-wheelers to electric power (potential 3.24 tons CO2 reduction per conversion per year).
• International Finance Corporation (IFC)flagshipStrategic or Co-development Partner · 1 January 2024CDB partnered with IFC to develop a comprehensive Climate Transition Plan in three phases: (1) Carbon baseline analysis to Net Zero strategy, (2) Scaling of green finance product offering, (3) Business model for carbon credit aggregation. IFC also collaborates on capacity-building for women entrepreneurs under the Wings Ecosystem.
• University of Sri Jayewardenepura — Centre for SustainabilityminorStrategic or Co-development Partner · 1 January 2024Collaboration partner on the Ittapana Mangrove Conservation project dedicated to preserving 2 acres of mangrove wetlands along the Bentota River and establishing a state-of-the-art research facility aimed at advancing mangrove ecosystem studies.
• Department of Wildlife Conservation (DWC)minorStrategic or Co-development Partner · 1 January 2022Government partner for the Life to Our Mangroves NbS initiative restoring 10 hectares of degraded mangrove forests in the Anawilundawa Wetland Sanctuary (a Ramsar Wetland of international importance). CDB has been a committed partner since 2022.
• Biodiversity Sri Lanka (BSL)coreStrategic or Co-development Partner · 1 January 2018Collaboration on biodiversity conservation: LIFE Project (restoring 12-hectare block adjacent to Kanneliya Rainforest), Life to Our Mangroves (10 hectares at Anawilundawa Wetland Sanctuary), Life to Our Beaches (4.5 km of beach maintenance in Moratuwa and Mount Lavinia area). Aligns with UN SDGs, Blue Carbon Initiative.
• Marine Environment Protection Authority (MEPA)minorStrategic or Co-development Partner · 1 January 2018Government partner for beach conservation initiatives including Life to Our Beaches and Adopt a Beach programme (300-metre stretch of Calido Beach in Kalutara). MEPA also partnered on Life to Our Beaches covering over 4.5 km of beach maintenance.
• Forest Department & IUCN Sri LankaminorStrategic or Co-development Partner · 1 January 2018Public-sector partners in the LIFE Project led by Biodiversity Sri Lanka, restoring 12 hectares of degraded land in Halgahawala-Opatha region adjacent to Kanneliya Rainforest, with CDB supporting the second phase (2018-2023) and ongoing third phase (2023-2028).
• Sri Lanka Climate FundminorStrategic or Co-development Partner · 1 January 2015Collaboration partner measuring CDB's Carbon footprint annually since 2015, marking eleven years of consistent GHG assessments, including FY 2024/25 transition to globally aligned Scope 1, 2, and 3 reporting.
• SABERIONminorOthersWebsite design and development partner for the cdb.lk corporate website.
• MastercardcoreTechnology or IntegrationCard network partner enabling CDB Mastercard Credit Cards for payments including toll gate payments, SHANGRI-LA offers, Clove Beach Wadduwa, GIVA, Noeline's Wellness, CHI Spa, and Health Club. Card-based promotional campaigns run throughout 2026.
• VisacoreTechnology or IntegrationCard network partner for CDB Visa Debit Cards enabling 10% OFF on PickMe Food orders, 40% OFF at Stripes & Checks, and up to 50% OFF on world-class medical services in Thailand, Singapore & Malaysia. Standard, Wings, and Platinum Debit Card variants offered.
• Chitrasena Vajira Dance Foundation (CVDF)minorStrategic or Co-development PartnerArts & culture partner preserving Sri Lanka's traditional dance forms through a six-year scholarship program supported by CDB. Over the past 12 years, this program has nurtured talent of aspiring dancers, teachers, choreographers, and theatre practitioners.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• People's Leasing & Finance PLC: One of the largest Sri Lankan LFCs, with a heavy leasing and vehicle-finance focus and a nationwide branch network. Closely comparable to CDB's vehicle-leasing franchise and deposit book.
• LOLC Finance PLC: Sri Lanka's largest Licensed Finance Company offering leasing, loans, deposits and Islamic finance. Directly comparable to CDB across virtually the full LFC product suite, with significantly larger scale.
• HNB Finance PLC: Sri Lankan LFC affiliated with Hatton National Bank, offering leasing, loans and deposits. Comparable LFC operating model with bank-affiliated funding advantage.
• Central Finance PLC: Long-established Sri Lankan LFC with strengths in vehicle leasing, fixed deposits and hire-purchase. Directly comparable to CDB's core auto-finance and retail deposit business.
• Senkadagala Finance PLC: Sri Lankan LFC offering savings, FDs, leasing, business and personal loans. Comparable mid-tier LFC competing for the same retail and SMB deposit/lending customers as CDB.
• Singer Finance (Sri Lanka): Sri Lankan LFC with consumer finance, hire-purchase and deposit products, part of the Singer ecosystem. Comparable to CDB's consumer-lending and SMB deposit franchise.

Broad incumbents

• Sampath Bank PLC: Major Sri Lankan private bank with strong retail, SME and digital banking franchise. Comparable digital-banking orientation but at materially larger scale than CDB.
• DFCC Bank PLC: Sri Lankan development bank offering corporate, SME and retail banking plus project finance. Overlaps with CDB's SME and green-financing focus but operates a broader, full-service banking platform.
• Commercial Bank of Ceylon PLC: Sri Lanka's largest listed commercial bank with nationwide branches, cards, treasury and SME operations. Adjacent incumbent competing with CDB on deposits, cards and SME lending.
• Hatton National Bank PLC (HNB): One of Sri Lanka's largest private-sector banks with full retail, corporate, treasury and card operations. Competes with CDB on deposits, cards, leasing and SMB lending from a much larger balance sheet.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CDBSriLanka
• YouTubeyoutube.com/channel/UC1BP_b8m0rNKIdt7DGNF3FA
• Facebookfacebook.com/CDBPLC
• LinkedInlinkedin.com/company/citizens-development-business-finance-plc
• Instagraminstagram.com/cdb.srilanka
• TikToktiktok.com/@cdb_lk?_t=8pQpnnivmyd&_r=1

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors3 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 Citizens Development Business Finance