Reiterating its presence in financial excellence and innovation, leading NBFI in Sri Lanka Citizens Development Business Finance PLC (CDB) marked its 30th anniversary celebrations by ringing the bell to start the trading day at the Colombo Stock Exchange (CSE) on 9th September. With the ringing of the bell at the CSE, this digitally transformative pioneering trailblazer in the financial services industry in Sri Lanka ceremonially marked a new chapter in its continued growth and commitment to empowering a smarter, sustainable Sri Lanka.
The ringing of the bell is an iconic sound that reverberates across the trading floor and is a tradition organised by the Colombo Stock Exchange, signifying and celebrating the market’s resilience, which echoes CDB’s journey of three decades.
Delivering the welcome address, Vindhya Jayasekera, CEO – Designate of the Colombo Stock Exchange, congratulated CDB on this remarkable milestone. She remarked, “Marking 30 years is a true testament to CDB’s commitment to its customers, investors and the broader community. Listed on the CSE for nearly 15 years, CDB has built a strong and mutually beneficial relationship with capital markets – one that has been integral to its growth. The CSE is proud to support institutions that lead by example – upholding transparency, sound governance and contribute meaningfully to national development. Its journey over the past three decades highlights a remarkable contribution to the industry and the lives of Sri Lankans across the nation.”
Chairman of CDB PLC Alastair Corera remarked, “The ringing of the bell is one of the most rewarding and significant events in our thirty-year journey, which can be seen through the lens of both CDB’s pre- and post-listing on the CSE.” He added, “It is a sound that redefines corporate Sri Lanka, its resilience, its staying power and its commitment to create a better nation – all of which resonate with how we have etched our journey – from highs to lows, achievements, transformation and future vision.”
MD/CEO Mahesh Nanayakkara recalled CDB’s mammoth rebranding exercise in 2009 prior to the company’s listing on the CSE on 6th October 2010. “At the time of listing, CDB was less than an LKR 10 Bn balance sheet size entity in the first fifteen years of our journey. Subsequent to the listing, in the next fifteen years from 2011 to 2025, CDB recorded an exceptional growth trajectory of over 17 times – which now stands at over LKR 170 Bn in terms of total assets.”
Nanayakkara explained that CDB’s transformative journey began with a clear vision – to become a future-ready financial institution that is digitally driven, sound in its governance and compliance fundamentals and raising the bar of excellence continually to ensure all stakeholders are empowered in a sustainable ecosystem founded on People.Planet.Profit. “Our heartfelt appreciation to each of our stakeholders who have been the trusses supporting us in this journey, who have pushed us to constantly innovate and be true to our values and principles. Our customers have given us trust and confidence to march through turbulent times, while the communities we work with give us reason to create a better Sri Lanka. By ringing this bell, we bring all this and more into focus, not just our 30-year journey but also our next chapter that we are writing to make this nation and our planet better.”
