Overview of Banks in Sri Lanka
The Central Bank of Sri Lanka serves as the country’s central bank and exercises supervisory powers over its financial system. Established in 1950, it is responsible for the conduct of monetary policy and oversight of banks in Sri Lanka. As a member of the Alliance for Financial Inclusion, the central bank is engaged in developing policies to promote financial inclusion.
The different types of banks in Sri Lanka include:
- Licensed commercial banks
- Registered finance companies
- Licensed specialized banks
The Moody’s Investor Service’s outlook for the Sri Lankan banking system remains negative, as both asset quality and profitability remain under pressure.
For anyone considering a banking career in Sri Lanka, this list of top banks in Sri Lanka is a helpful guide on where to start. To learn more, see our lists of financial institutions.
The top banks in Sri Lanka are:
Commercial Bank of Ceylon
Established in 1920, the Commercial Bank of Ceylon provides various banking products and services in Sri Lanka and Mumbai. It operates through five segments: Personal Banking, Corporate Banking, International Operations, Investment Banking, and Dealing and Treasury. Based out of Colombo, the bank employs around 5,000 staff.
As of December 31, 2016, it operated 255 branches and 657 ATMs in Sri Lanka, and 19 branches and 20 ATMs in Bangladesh.
As of 2016, total assets of the bank were US$6.4 billion and net profit was US$93.03 million.
Sampath Bank Plc
Based out of Colombo, Sampath Bank Plc provides various banking and financial products and services in Sri Lanka and other countries. Incorporated in 1986, it manages a network of approximately 229 branches and 381 ATMs.
As of December 31, 2016, the bank operated 475 conventional banking branches, including 18 sub-branches, 10 overseas branches, 153 Islamic banking branches, and an offshore banking unit.
As of 2016, the bank’s total assets amounted to US$4.2 billion and net profit reached US$58.49 million.
National Savings Bank
Founded in 1832, National Savings Bank is one of the oldest banks in Sri Lanka and serves its customers through 250 branches, 2,858 school bank units, and 279 ATMs, as well as an agency network, including 651 post offices and 3,410 sub-post offices in Sri Lanka. Headquartered in Colombo, it employs around 4,300 staff.
As of 2016, the bank reported total assets of US$5.84 billion and a net profit of US$60.88 million.
Established in 1961, People’s Bank is one of the state-owned banks in Sri Lanka. It provides personal banking products and services, corporate banking services, treasury services and development banking services, and overseas customer services. It operates out of Colombo and employs around 11,200 individuals.
The bank comprises banking, leasing, travels, and others segments. It manages a network of 737 branches and approximately 506 ATMs.
As of 2016, the bank’s total assets were US$1.02 billion and net profit was US$28.89 million.
Hatton National Bank
Hatton National Bank offers banking and related services in Sri Lanka and other countries. Another of the older banks in Sri Lanka, incorporated in 1888, it operates through five segments: Banking, Leasing/Hire Purchase, Property, Insurance, and Others. With around 4,190 employees, it is headquartered in Colombo. It oversees 251 branches in Sri Lanka and 485 ATMs.
As of 2016, the bank’s assets totaled US$5.50 billion and net profit amounted to US$90.66 million.
Seylan Bank Plc
Established in 1987, Seylan Bank Plc provides commercial banking and related financial services in Sri Lanka. It operates through its Banking, Treasury, and Property/Investment segments.
As of December 31, 2016, the bank managed a network of 166 branches, 202 ATMs, and 100 student savings centers. With around 3,165 employees, it is headquartered in Colombo City.
As of 2016, the bank posted total assets of US$2.28 billion and a net profit of US$25.70 million.
National Development Bank Plc
Headquartered in Colombo, the National Development Bank Plc was incorporated in 1979. The bank operates in four segments: Banking, Capital Markets, Property Investment, and Others. It employs around 4,000 people and manages a network of 105 branches and 117 ATMs.
As of 2016, total assets of the bank were US$8.74 million and net loss was US$0.14 million.
Founded in 2009, one of the newest and smallest of the major banks in Sri Lanka, Amana Bank provides commercial banking services. It operates through Consumer Banking, Business Banking, and Treasury segments. It has a network of 28 branches and 31 ATMs. With around 742 employees, it is based out of Colombo.
As of 2016, total assets of the bank amounted to US$348 million and net profit reached US$0.26 million.
Nations Trust Bank Plc
Based out of Colombo, Nations Trust Bank Plc was established in 1999. The bank offers banking products and services to individuals, corporate and institutional customers, and small and medium enterprises in Sri Lanka. It operates through Corporate Banking, Consumer Banking, SME Banking, Leasing, Treasury Function, Investment Banking, Insurance Brokering, and Property Management segments.
The bank employs around 2,300 staff and manages a network of 93 branches and 136 ATMs, serving approximately 609,000 customers.
As of 2016, the bank reported total assets of US$1.35 billion and net profit reached US$18.39 million.
Founded in 1955, DFCC Bank provides financial products and services in Sri Lanka. The bank operates through a network of 88 branches and 50 service points, as well as approximately 3,600 ATMs. With around 1,409 employees, it is based out of Colombo.
As of 2016, the bank’s total assets were US$1.87 billion and net profit was US$21.89 million.
Careers in investment banking
To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map…. For banking careers, you will gain a significant edge over the competition with our financial modeling courses.
This has been CFI’s guide to the top banks in Sri Lanka. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: