Citizens Development Business Finance (CDB) was founded as Licensed Finance Company in 1995. As a subsidiary of one of the largest insurance companies in Sri Lanka its mission is to provide access to finance for the underserved population in Sri Lanka. Through this mission, it aims to create financial empowerment, social inclusivity and environmental consciousness.
CDB offers a wide range of saving, deposit, payment, loan and leasing products, serves close to 90,000 customers and has with a national network of 70+ branches.
CDB fulfills a pioneering role in the country when it comes to using technology in its processes. It was the first country to facilitate a digital finance platform for its customers, enabling them to pay installments, open a deposit account, view account balances and transfer money through various channels. In the coming years, CDB will increasingly focus on innovation and digitalisation to expand its outreach and to make its operational processes leaner.
To further strengthen its sustainability strategy CDB has set up a division that solely focuses on finding solutions to advance the green economy. It works with clear targets: to be the leader in rooftop solar and sustainable EV financing in Sri Lanka by 2025 and have a leading role in sustainable financing and farming needs, financing forest conservation and sustainable tourism by 2030. Furthermore, for its vehicle leasing activities it aims to provide finance for hybrid/electric vehicles only by 2030.
Constant Tilman, Investment Manager for Asia at Triodos IM: "CDB’s philosophy, strategy and operations are those of a truly values-driven organisation. It has a strong social and even stronger environmental focus, whereby the impact of every action or activity on society, the economy and environment is taken into account. This makes CDB a perfect fit with our mission and vision.”
Read more about our Financial Inclusion investment strategy.