DFCC Bank recognised at ADFIAP Awards for SME development
At the recent ADFIAP (Association of Development Financing Institutions in Asia and Pacific) Awards Night held in Macau, DFCC Bank won an award under the SME Development category for setting up a specialised unit for development of micro and small medium enterprises (MSMES).
In addition, DFCC Bank was recognised for being a Charter Member of the ADFIAP since October 1, 1976, at this event.
The ADFIAP Awards are held to honour the members that have contributed significantly to the development of their respective countries. Founded in 1976, ADFIAP has currently 131 member institutions in 45 countries and has proved to be a key contributor to promoting development finance in the Asia Pacific region amongst the members from the respective countries.
Commenting on the ADIFAP recognition, DFCC Bank CEO Arjun Fernando said, “DFCC Bank values its membership of ADFIAP, a premier association which has done a yeoman service in promoting the cause of small and medium enterprises in the Asia Pacific region. We take pride in being awarded under the SME Development category for setting up a specialised unit for development of MSMES.
We have upheld this commitment to our common goals as a member by supporting and developing the small and medium sector in Sri Lanka through financing and technical inputs. Despite our evolution into a fully-fledged commercial bank, development banking remains at the core of our operations, as we empower a multitude of grassroots level enterprises with the tools to succeed by way of our unique products and services geared to fulfil their unique needs.”
A founder member of the association, DFCC Bank has demonstrated a long and proven track record of nurturing small businesses from early and often risky stages - to developing them into mature and profitable institutions. Clients in the small enterprise business category have unique financial requirements and DFCC is well positioned to customise financial solutions to fulfil those requirements.
DFCC set up a MSME unit in September 2016 to assist and develop such enterprises. This unit exclusively deals with SBES (incubators that eventually become SMES) and provides assistance for all their microfinancing needs.
The bank also recently launched ‘Vardhana Sahaya’, a new product for the small enterprise sector offering a range of financial services including loans, leases and bank guarantees, providing a one-stop financial solution for small enterprises. The salient benefit of the Vardhana Sahaya product for small enterprise customers is that DFCC, given its strong credentials in small and medium enterprise financing, will offer customised and flexible financial solutions aptly suited to customer requirements. In addition to providing financial assistance, the bank also provides advisory services and value addition through entrepreneur development programmes across the country.