Citizens Development Bank

Debt : April 2018 - March 2023

Citizens Development Business Finance PLC is a Sri Lankan finance company accepting deposits from general public. It is one of the leading finance companies in Sri Lanka and is also ranked within the top five largest licensed financial institutions in the country.

Amount

€ 9,486,770.00

Type of investment

Debt

Development impacts

Financial inclusion
Local economic growth
Food security & rural development

Beneficiary locations

Asia: Sri Lanka

Investment field

Financial Institutions

Activity

K64.91 Financial leasing

Organisation

Citizens Development Bank

Website

https://www.cdb.lk/

Domicile

Sri Lanka

Set up in 1995, the institution became a public deposit taking institution in May 2009. CDB historically concentrates on vehicle leasing (mostly 3W) but started other asset-backed loans to individuals and MSMEs. Next to its lending products, other financial products such as savings, deposits, money exchange and money transfer services are offered.

BIO’s financing will support CDB in further growing its loan portfolio and permit the further development of its financial services offering to MSMEs. Use of proceeds will be to finance the growth of CDB´s loan portfolio to micro, small and medium sized enterprises.

Development impacts

Financial inclusion
CDB is a Non-Banking Financing Institution offering a full set of financial services to individuals, micro and SME clients.
Local economic growth
CDB is a financial institution oriented towards offering loan products to micro and small entrepreneurs, who are underserved today as commercial banks tend to serve the higher end of the SME market.
Food security & rural development
CDB contributes to the sustainable development of the rural and low income segments of the market, providing them with access to formal financial institutions and funding opportunities.