National Savings Bank sees strong recovery in 2023

The National Savings Bank (NSB), despite operating in a challenging economic environment, has seen a strong recovery in 2023.

This impressive performance underscores the bank's commitment to financial stability and growth, even in the face of adverse economic conditions. The management attributes this success to strategic planning, operational efficiency, and a steadfast focus on customer service.

The NSB presented its Integrated Annual Report - 2023, themed “Shaping our Mettle” reflecting its performance within the framework of the economy and its relationship to the social and environmental facets. The report was presented to President Ranil Wickremesinghe, the bank said in a media release on Wednesday.

The report contains comprehensive insights about managing capital inputs and value creation process over the short, medium, and long term, towards its stakeholders and a detailed analysis of the bank’s corporate governance, risk management practices and statutory reports along with external auditor’s opinion and annual financial statements for the year ended 31st December 2023.

“We are navigating through challenges of internal and external drivers, interdependencies, and trade-offs that influence our ability to create value for our stakeholders in the short, medium, and long term. NSB rose to the fore amidst these unprecedented challenges faced by Sri Lanka, delivering a stable performance for its stakeholders and supporting its customers during turbulent times to build confidence and ensure financial security,” the statement said, adding that the sustainable performance was under the strong leadership of the Chairman, President’s Counsel, Dr. Harsha Cabral, the Board of Directors, GM/CEO Ms. Shashi Kandambi, and the management of the bank.

The National Savings Bank said it remains dedicated to providing reliable and secure financial services to its customers while contributing to the broader economic development of the country.