BOC LAUNCHES AGRI BANKING UNIT: FINANCING THE ROOTS OF SRI LANKA’S FUTURE
Reinforcing its commitment as “Bankers to the Nation,” Bank of Ceylon (BOC) has officially launched
the BOC Agri Banking Unit, first of its kind to drive sustainable growth and innovation in Sri Lanka’s agriculture sector. This specialized platform is designed to strengthen financial support to the agribusiness sector while promoting modern, sustainable and technology driven agricultural development.
Sri Lanka has historically been recognized as an agricultural nation, engaged in farming and related
activities. With a proud banking history spanning more than eight decades, Bank of Ceylon has
consistently supported this community through a wide range of financial and advisory services. The
launch of the BOC Agri Banking Unit represents a strategic step forward in re-affirming and expanding that commitment, by introducing specialized financial solutions and sector-focused expertise tailored to the needs of modern agriculture.
The BOC Agri Banking Unit will focus on multiple segments within the agriculture sector, including crop cultivation, livestock development, fisheries, horticulture, agri-technology, and smart agriculture. By supporting these diverse agricultural sub-sectors, the bank intends to encourage modernization and innovation in agri-practices while ensuring better access to financial services.
The Agricultural Banking Unit was formally inaugurated recently at the Bank of Ceylon Head Office under the patronage of Chairman Kavinda De Zoysa and General Manager/ Chief Executive Officer Y. A.
Jayathilaka. The event was attended by members of the Bank’s senior management, marking a significant
milestone in the bank’s mission to strengthen financial support for the agribusiness sector.
Speaking on the significance of the initiative, Chairman Kavinda De Zoysa highlighted the global potential of Sri Lankan agriculture:
“Sri Lanka’s agriculture must evolve from traditional farming to a modern, technology-driven industry capable of competing in global markets. Through this Agricultural Banking Unit, we aim to empower farmers and agri-entrepreneurs with not only financial strength but also technology know-how and comprehensive solutions that enable them to scale up production, add value and reach international markets,” he said.
A key focus of the unit will be the integration of modern technologies into farming practices. By
facilitating access to precision agriculture tools, modern irrigation systems, mechanisation, digital
monitoring technologies and advanced crop management techniques, the bank aims to significantly
improve productivity, efficiency and sustainability within the sector.
The initiative also seeks to strengthen the agricultural value chain by encouraging small-scale farmers to
transition from subsistence farming to commercially viable agricultural enterprises. The unit will actively
support investments in value addition, agro-processing, post-harvest management and agri-tourism while facilitating financing under concessionary interest rates and flexible lending conditions.
Mr. Y. A. Jayathilaka, General Manager / Chief Executive Officer, explained that the establishment of the Agricultural Banking Unit is a long-overdue initiative aimed at supporting Sri Lanka’s agricultural development and strengthening the country’s agri ecosystem.
He noted that the Unit provides an opportunity for individuals and institutions who wish to contribute to the nation’s agricultural growth to place deposits specifically dedicated to the sector. Funds mobilised through this Unit will be directly channelled towards supporting agricultural activities and related value chains.
Mr. Jayathilaka further stated that the Agricultural Banking Unit has been established to facilitate the sustainable growth of the agriculture sector, including the financing of large-scale agricultural projects, processing, transportation, and export-oriented activities.
He also highlighted that while agricultural banks and specialised agri banking units are common in many countries, this initiative represents the first-ever comprehensive Agricultural Banking Unit established in Sri Lanka, marking a significant milestone in strengthening financial support for the country’s agricultural sector.
A standout feature of this initiative is the mobilization of dedicated funds from investors and well-wishers, channeled through specialized instruments to provide concessionary financing directly to the agricultural sector. In tandem with the launch, the bank introduced the ‘Agri-Power’ Fixed Deposit Scheme, offering investors a unique opportunity to fund this segment while earning a guaranteed return. Deposits under this scheme are highly regarded for their direct contribution to national food security and rural empowerment.
Through the establishment of the BOC Agri Banking Unit, Bank of Ceylon aims to further strengthen its engagement with Sri Lanka’s agricultural sector, fostering productivity growth, technological
advancement and value addition while contributing to the long-term development of rural economies and the country’s broader economic progress.
