January 23, 2023
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4min

 



 

 

• Best Corporate Citizen Sustainability Award organised by Ceylon Chamber of Commerce

Colombo Sri Lanka- Citizens Development Business Finance PLC (CDB) won the prestigious laurel of being among the Ten Best Corporate Citizens for 2022, an award it was presented with for the fifth consecutive year.  The Ten Best Corporate Citizens are chosen from among a wide range of corporate stewards in Sri Lanka by an independent panel of judges and evaluators in the Best Corporate Citizen Sustainability Award organised by the Ceylon Chamber of Commerce.

This year marked the nineteenth year of the awards and CDB has been a continuous winner in various categories for a number of years in the past, evidencing the deep commitment the Company has always had to the three sustainability platforms of People.Planet.Profit on which the award criteria is built on.  Being recognised as a sustainability champion therefore by the apex chamber of Corporate Sri Lanka augments CDB’s recognition as not just a corporate steward but also as a corporate that believes wholeheartedly in the true concept of sustainability.

CDB’s sustainability ethos encompasses a wide stakeholder message, cascaded through its Business Strategy which has been developed for the next decade. CDB Advance, which is CDB’s Sustainability Strategy, is deeply embedded into this business strategy and has a two pronged approach that contributes to seven of the seventeen UN Sustainable Development Goals.

Working on the Corporate Purpose of empowering aspirations which remains the overarching tenet that CDB builds its business model on, it incorporates first in class Fintech within the NBFI sector. Hence, CDB’s emerging tech strategy is well complementing its sustainability agenda.

CDB is committed to advancing the green economy and is responding to the country’s energy crisis through CDB Advance Roof Solar by promoting household renewable energy solutions and accelerating sustainable mobility solutions.  The Company ardently contributes towards biodiversity and environmental conservation as well.  It also aims to become a more resource efficient organization championing the circular economy.

To deliver its social commitments, it embraces child health and wellbeing, education and literacy, and empowering entrepreneurs, youth and women. Adding to this formula, CDB has a strong culture of employee volunteerism which creates a 360 degree focus on holistic sustainability.

Most appreciative of its customers, valued business partners and winning team, the Company continues to journey towards its ultimate goal of Empowering a Smart and Sustainable Sri Lanka.  This wholehearted commitment to sustainability and delivering tangible change through People.Planet.Profit will give CDB focus to drive financial inclusion and advance the green economy, which in turn will empower the aspirations of its customers, community and the nation.

 



 

 


December 12, 2022
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1min

 



 

 

Citizens Development Business Finance PLC’s (CDB) very own star athlete Janithu Lakvijaya took home several accolades at the recently held 37th Annual Mercantile Athletic Championship of the Mercantile Athletics Federation.

Accordingly, Lakvijaya secured the coveted titles of Best Male Athlete in the Championship category and Best Male Athlete of the Tournament. Overall CDB placed 15th with a total score of 94 points after 32 of CDB’s star athletes contested and took home 5 Gold medals, 8 Silver medals, and 5 Bronze medals.

The 37th Annual Mercantile Athletic Championship was held recently at the Sugathadasa Stadium in Colombo and saw the participation of more than 100 corporates.

 



 

 

 


December 2, 2022
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3min

 




 

 

Continuing the purpose of empowering aspirations, Citizens Development Business Finance PLC (CDB) enhanced its Smart Computer Lab donation drive in line with their 25th anniversary celebrations by committing 20 Smart Computer Labs targeting deserving schools. As one of the key social sustainability projects of CDB, the initiative aims to improve access to technology and digital literacy among school students, and create a smarter and sustainable Sri Lanka.

Since commencing the project 13 years ago, CDB has established such facilities in 11 schools across various locations including Gampaha, Kalutara, Kuruwita, Kehelpannala, Monaragala, Madurankuliya, Kandapola, Kurunegala, Anuradhapura, Jaffna and Tissamaharama.

Upon identifying the need to improve digital literacy in rural communities, CDB pledged to fast-track and develop an additional 20 Smart Computer Labs across the island so that the younger generation can gain essential IT skills and knowledge to be successful in today’s digitally emerging world.

As this project is centred around the 4th UN Sustainable Development Goal of Quality Education, CDB’s goal is to enable access to modern technology for quality education while improving digital literacy of the nation’s youth.

The first of these labs have already been set up at St. Joseph’s College, Kolonnawa, which will be followed by labs in Kuruwitenna Maha Vidyalaya and Atabage Udugama Maha Vidyalaya, located in the Uva and Central Provinces respectively. These facilities opened their doors in November of this year. Deserving schools are selected under a special criterion with the partnership of the Education Ministry ensuring that the most deserving schools are receiving such facilities.

CDB’s unique brand of sustainable empowerment and spreading knowledge opens opportunities to every citizen in the country. The initiative is not just about enhancing IT literacy among rural youth, but about broadening mindsets, presenting survival tools and opening up career opportunities that will push youth up the career ladder.

 




 

 

 


November 1, 2022
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2min

 



 

 

The Women’s Rugby Team of Citizens Development Business Finance PLC (CDB) emerged as the unbeaten champions of the recently concluded Mercantile Women’s Tag Rugby Sevens tournament.

To secure this victory, the Team CDB put up an unrelenting show of force against MAS and Sampath Bank, with match scores of 5-0 and 20-0 respectively. Adding to the celebrations, CDB’s Imalka Fonseka took home the sought-after Best Player of the Tournament title.

The Mercantile Rugby Sevens, conducted by the Mercantile Rugby Football Association (MRFA) and revived after a lapse of two years, was held at the CR & FC Grounds. This year’s Sevens was especially significant since it was the 50th tournament with the Women’s Tag Rugby Sevens being held alongside the Men’s Championship. Team CBD won this tournament in 2018 and ended as runners-up in the year 2019.

 



 

 

 


October 12, 2022
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3min

 



 

 

In their ongoing efforts to empower the educational aspirations of the nation’s young minds, Citizens Development Business Finance PLC (CDB) recently concluded the 14th season of its Sisudiri Scholarship Programme. This year’s rendition led to 150 deserving students from financially disadvantaged backgrounds from across the 25 districts, being awarded scholarships to support them in continuing their education.

Held on the 7th of October 2022 at the BMICH, students who achieved excellent academic results in the Grade 5 scholarship examination and G.C.E. Ordinary Level Examinations in the year 2020 were awarded for their efforts in the presence of Chief Guest Senior Prof. Sampath Amaratunge, Chairman – University Grants Commission.

Speaking on this initiative, Mahesh Nanayakkara – Executive Director / MD / CEO of CDB said, “Our purpose at CDB is to empower aspirations of Sri Lankans, through good times and bad. As such, with this year’s Sisudiri scholarships, we increased the number of scholarships to 150 from 100 in the previous years, and also increased the amount each recipient will receive each year, so that we are able to assist more children,”

One hundred students who excelled in the Grade 5 Scholarship examination were awarded scholarships worth Rs. 12,500 per year for five years, totalling Rs. 62,500 per student. Meanwhile, 50 high academic achievers of the G.C.E Ordinary Level examination were awarded annual scholarships worth Rs. 17,500 for two years, totalling Rs. 35,000 per student pursuing their higher education.

Darshana Jayasinghe – Senior Deputy General Manager, Marketing of CDB added, “The Sisudiri scholarship programme is part of the Socially Conscious pillar under CDB’s Sustainability Agenda, where we work towards the UN SDG of Quality education, ultimately creating Community Impact and Financial Inclusion. With the conclusion of the Sisudiri Scholarship Programme – Season 14, CDB has provided scholarships to more than 850 deserving students since its commencement in 2008. It is expected that this programne will continue to empower the aspirations of the nation’s future generation, and thereby seeing the realisation of national goals.”

 



 

 


September 22, 2022
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5min

 



 

 

The Modara-Polwatte beach in close proximity to the Panadura Harbour gained a facelift recently as Citizens Development Business Finance PLC (CDB) marked International Coastal Clean-up Day 2022 on September 17th, with a beach clean-up programme.  The project had the support of Biodiversity Sri Lanka (BSL) and the Marine Environment Protection Authority (MEPA). Team CDB and their families brought in their collective forces to clean this scenic stretch of about 800 meters of beach, which moves southward from Egoda Uyana South near the harbour.

Adding momentum to CDB’s sustainability ethos, this clean-up initiative was a part of the ‘Life to our Beaches’ project, a collaboration between Biodiversity Sri Lanka, Marine Environment Protection Authority (MEPA), the Department of Samurdhi Development and other like-minded corporates including CDB.  Heralding a partnership between the public and private sectors and the community, the project aims at not just ensuring preservation and conservation of Sri Lanka’s coastal environment, but also in sustaining the underprivileged communities residing in these surrounds.

While there’s limited habitat on this coastal stretch, large amounts of marine debris including significant amounts of plastic wash aground during the monsoon causing harmful impacts on marine life and the beach locale.  With the CDB Team engaging in this conservation effort, they also become aware of the dire need to mitigate marine pollution and the harmful impacts of the irresponsible disposal of plastic waste and other non-biodegradable material have on marine and human life.

Director/Deputy CEO and CFO of CDB Damith Tennekoon explains that Sri Lanka’s western/southern coastal area is home to more than 40% of the country’s population but is also, one of the most heavily polluted coastal belts.  “It has long been our focus that in looking after our planet, our actions must reflect a sense of purpose, action and responsibility.  That responsibility is vital in our corporate stewardship and extends to all three pillars of social, economic and environmental – in other words, People, Planet, Profit.

“Our sense of purpose therefore is to ensure our planet’s survival and that includes the oceans around us, which sustain not just human and marine life, but is also the lifeline for communities living on the coastal belt. Cleaning up our beaches therefore becomes integral to our environmental commitment, pushing our agenda of the planet’s sustainability with this simple yet compelling act, which permeates to sustaining life on this planet in the larger sense.”

CDB has always gained the commitment of its team members into its sustainability agenda to inculcate the fundamentals of responsible stewardship.  The pillar, ‘Engaging Mindful Team Members’ focuses on infusing awareness of transparency, accountability, responsibility and sincerity of action among team members, under the overarching ethos of sustainability, which has seen the CDB Team significantly involved in reducing not just the company’s carbon footprint but being leaders and activists in cascading the message of sustainability across the board.

 



 

 

 


August 31, 2022
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3min

 



 

 

After identifying that Sri Lanka’s National Blood Centre was in urgent need of emergency blood during this period, Citizens Development Business Finance PLC (CDB) sprang into action to fulfil this important national requirement by way of a successful blood donation drive.

Organised by the Welfare Committee of CDB along with the support of the Human Resources (HR) Division, an internal circular was issued which called all staff to join this blood donation drive.

With the intention of working towards the greater good of the health of Sri Lanka’s citizens, 140 staff joined in to support the cause.It is notable that this is the fifth time CDB arranged such a campaign, together with the support of Doctors, Nurses and other support staff from the National Blood Centre.

Speaking on this initiative, Mrs. Nayanthi Kodagoda – Senior General Manager (HR and Administration) said, “Human blood is a precious resource and an adequate supply of blood can only be assured through regular donations. At CDB, we felt that it was our responsibility to respond to the National Blood Centre’s call for donations during this period. Sri Lanka is one of the few countries where all blood and blood product needs are met through voluntary donations. We will continue to support such donation drives so that the country will be able to maintain this status for many more decades,”

In line with the successful completion of this donation drive, CDB hopes to motivate regular blood donors to continue their altruistic actions and to also motivate people in good health who have never given blood to begin doing so.

 



 

 

 


August 26, 2022
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4min

 



 

 

Citizens Development Business Finance PLC (CDB), a corporate leader positioned among the top five largest Non-Banking Financial Institutions in Sri Lanka, has come forward to sponsor the Mercantile Cricket Association Open Cricket ‘Sixes’ for the fourth consecutive year. The annual tournament, organized by the Mercantile Cricket Association (MCA), is recognised as a coveted cricketing fiesta within the corporate sector and has been celebrated for over 30 years in the country.

Chief Guest Karthik Elangovan, Executive Director / Chief Emergent Business Officer, CDB presented the official sponsorship to MCA Officials at a media conference held recently to announce the sponsorship. Participating in the event were MCA officials including Nalin Wickramasinghe – President, Hasitha Dassanayake -Executive Committee member/Chairman Information & Technology committee, and K.D.S Kanishka – Secretary, Sponsorship Committee and the Senior Management of CDB including Guest of Honour Sasindra Munasinghe – Executive Director/Sales and Business Development and Darshana Jayasinghe – Senior Deputy General Manager, Marketing.

Addressing the media, Darshana Jayasinghe – Senior Deputy General Manager, Marketing at CDB said, “We are proud to extend our commitment to the game of cricket with yet another sponsorship for such an anticipated cricket tournament. While CDB is excited to continue our partnership to support the MCA Open Cricket ‘Sixes’, it is all the more significant as it is with the purpose of empowering and investing in the future stars of Sri Lankan cricket. I would also like to take this opportunity to wish all the teams the best of luck and we look forward to an invigorating tournament.”

This year, over 80 teams are expected to take part in the tournament under Tier A and Tier B segments. The Tier A matches will be held at the MCA, Thurstan College and Colts Cricket Grounds, with 12 teams playing 15 matches at each location. The Tier B segment, comprising of 72 teams will play 96 matches at 5 locations; the MCA, Wesley College, and D.S. Senanayake College Cricket Grounds as well as at the Sapper Ground Mattegoda and Dharmapala College Ground in Pannipitiya.

The MCA Open Cricket Sixes will commence on the 30th of August 2022 and conclude with the exciting finals at the MCA Grounds on the 4th of September 2022, where the presentation of trophies and prizes to the winners will take place.

 



 

 

 

 


August 12, 2022
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2min

 



 

 

 

Citizens Development Business Finance PLC, will co-sponsored Wesley College Rugby throughout the schools Rugby season, empowering the winning spirit of the young sportspersons at the Inter-Schools Rugby Tournament 2022. An ardent champion of sports at the domestic and international level, CDB has been a long-standing partner with Wesley College for the past decade, supporting its colourful sporting tradition. The Jersey handover ceremony for Wesley Rugby took place at the College premises.

Pictured below at the Jersey Handover ceremony are: (Left to Right) Imthisham Mohideen – Chairman – Rugby Advisor Committee, Eddie Buel – First Rugby Captain and Avanka Fernando – Principal of Wesley College and Ashad Weerabangsa – AGM, Operations of Citizens Development Business Finance PLC.

 

 



 

 

 


August 10, 2022
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4min

 



 

 

 

A state-of-the-art accommodation facility & quarantine centre complex which was supported by Citizens Development Business Finance PLC (CDB) completed its first phase of construction at the Sri Lanka Army Maduru Oya Training School this month.  Responding to Sri Lanka’s national pandemic response efforts, CDB presented LKR 10 million to the National Operations Center for the Prevention of COVID19 Outbreak (NOCPCO) for the construction of this complex.

In its quest to augment its corporate stewardship, CDB embarked on this project during the height of the pandemic in 2020 to assist the country in combating the deadly impacts of COVID19.  Given the requirements of the time, the facility was initially planned as a quarantine center but will now be an accommodation facility for students enrolled at the Maduru Oya Training School.  However, given the incorporated facilities within the complex, it can be speedily transformed into a quarantine center for the North Central Province of Sri Lanka if and when required.

The completed first phase can house 64 personnel, while the entire complex is disabled-friendly.  The ground floor of the complex was ceremonially declared open by Commandant of the Training Center Brigadier Najeewa Edirisinghe RWP RSP psc Hdmc in the presence of a collective of army personnel.

Executive Director/Deputy CEO/CFO of CDB Damith Tennekoon said, “This complex has been designed as a national asset – to be of assistance to the people of Sri Lanka in the event of another national need. It affirms the testament of CDB’s commitment to uplift the wellbeing of the people of Sri Lanka.”

Voicing similar sentiments, Commandant Brigadier Edirisinghe stated, “Even though the purpose of this building has changed during the course of time, one thing that should be always remembered is CDB’s commitment to the cause. I am confident that during times where an infectious disease is not a cause for concern, this facility will be a warm and welcoming home for the future soldiers of Sri Lanka as they go through their course of study.”

Those present at the ceremony included all officers of various ranks within the Sri Lanka Army Training School.  The event was live streamed as well.

 

 



 

 

 

 



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Lanka Business News is amongst the leading online Business News portals in Sri Lanka, unique for its focus on contemporary business news relevant across multiple industries operating in the country. We present not only the news, but a perspective based on observations and possible implications of a prevailing news item. LBN also provides an insight to the impact of a global economic or industrial development, thus helping stakeholders make informed and calculated decisions.




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