PROFILE

SDB bank

Q: What sets SDB bank apart? Specifically, what unique features does the bank offer?

A: As the only private development bank in Sri Lanka, our primary objective at SDB bank is to promote the sustainable development of SMEs, empower women through financial inclusion and entrepreneurship, foster digital inclusion and support sustainable financing.

SDB bank is a licensed specialised bank, regulated by the Central Bank of Sri Lanka and listed on the Main Board of the Colombo Stock Exchange (CSE).

Through our network of 94 branches spread across the island and access to the cooperative network of the country, we provide a diverse range of financial services to customers from all walks of life.

In addition to providing financial products, we conduct a wide range of training programmes, workshops, and consultation sessions, for small and medium enterprises and individuals. These sessions cover essential areas such as financial management, bookkeeping, business management and supply chain enhancement.

At SDB bank, we take pride in our ability to enable forward-thinking and affluent clients to collaborate with us in actively driving the Sri Lankan economy. By their partnering with us, we can assist them in achieving their business and personal goals – all while making a positive impact on the local economy.

Q: In the context of the economic downturn, how significant do you believe is building a particular brand?

A: In the context of an economic downturn, building a strong brand can be particularly significant. A well-established brand with a positive reputation can help businesses. This is especially important during a downturn when consumer spending decreases.

A strong brand can also help businesses differentiate themselves from their competitors, allowing them to withstand economic challenges better. Additionally, a strong brand can provide a sense of stability and reassurance to customers during uncertain times.

Living your brand is crucial, particularly during an economic downturn when actions speak louder than words. This is especially relevant in the current economic environment in Sri Lanka.

Given the current challenges faced by the banking sector – including soaring loan interest rates – we have taken all possible steps to engage with our clients, educate them on available options, and go above and beyond to support the most vulnerable segments of our customer base.

At SDB bank, staff plays a crucial role in engaging and working with the communities we serve, particularly during challenging economic times. Our staff members are often the first point of contact for our customers. Through regular interactions with these communities, our staff provides effective support and guidance.

This ongoing engagement also helps us to build strong relationships with these communities, based on trust and mutual respect. By leveraging the expertise and commitment of our staff, we are better able to serve our customers and make a positive impact on the communities we serve.

Q: What is your opinion of the building and promoting of local brands?

A: By building strong local brands, Sri Lankan businesses can differentiate themselves from their competitors and establish themselves as leaders in their respective fields. This can also help to create a sense of national pride and identity as consumers and businesses alike rally around these brands.

However, building and promoting local brands is not without its challenges. Sri Lanka’s economy is relatively small and export dependent, which means that many local businesses struggle to compete with larger international brands. In addition, there may be a lack of funding, expertise and infrastructure to support the development of strong local brands.

To overcome these challenges, it is important for Sri Lankan businesses to adopt innovative strategies and leverage digital technologies to build their brands and reach new audiences.

The pandemic and its associated disruptions have provided a platform for some local brands to emerge stronger, and there is considerable potential for local brands to expand to overseas markets. Additionally, local brands play a critical role in safeguarding Sri Lankan industry against the volatility of the global market.

While building and promoting local brands in Sri Lanka can be challenging overall, it can also be highly rewarding –for both businesses and the country as a whole. By showcasing the unique culture and heritage of Sri Lanka, and supporting local businesses and industries, we can build a stronger and more prosperous nation.

Telephone 5411411 | Email info@sdb.lk | Website www.sdb.lk