DFCC Bank Overview and Performance Review

DFCC Bank is one of the leading banks in Sri Lanka, established in 1982. It is a diversified bank that offers a wide range of financial services to its customers.

The bank has a strong presence in the country with over 100 branches and a large network of ATMs. DFCC Bank has been consistently ranked among the top 10 banks in Sri Lanka by the Bankers' Digest.

In terms of performance, DFCC Bank has reported a steady increase in its profit over the years, with a net profit of Rs. 2.6 billion in 2020. This is a testament to the bank's sound financial management and strong growth strategy.

DFCC Bank has achieved a remarkable 42.59% growth in top-line revenue for 2023/24, a testament to its prudent management of interest-bearing assets.

This growth is a direct result of the bank's robust retail base, which has been a key driver of its success.

The bank's effective portfolio strategy has also played a significant role in its financial performance, allowing it to stay ahead of the competition.

By securing accreditation from the Green Climate Fund in July 2023, DFCC Bank demonstrated its commitment to sustainable finance and reducing environmental impact.

As a result, the bank issued Sri Lanka's first green bond listed on the Colombo Stock Exchange in 2024, further solidifying its position as a leader in sustainable finance.

Discover more: Sustainable Banking

DFCC Bank has set an ambition to become Sri Lanka's most customer-centric and easiest bank to work with.

The bank is guided by a deep understanding of customer needs and combines nationwide reach with innovative solutions.

This results in unmatched convenience and accessibility for its customers. DFCC Bank has a robust network of 139 branches.

Additionally, it has access to over 5,500 ATMs through the LankaPay network.

The bank's DFCC MySpace self-banking platform and a comprehensive suite of digital services empower individuals and businesses.

These services include online banking, the DFCC One lifestyle banking mobile app, seamless digital onboarding, and DFCC iConnect for corporate and SME customers.

This allows individuals and businesses to manage their finances effortlessly, anytime and anywhere.

DFCC Bank has a steadfast commitment to technological excellence and customer-focused solutions.

This commitment ensures every interaction is smooth, reliable, and tailored to meet the evolving demands of its diverse clientele.

DFCC Bank's digital transformation has elevated the banking experience, making it easier for customers to bank on their own terms.

You might enjoy: First Bank Digital Banking

DFCC Bank has a robust online banking system, allowing customers to manage their accounts and conduct transactions from anywhere in the world.

With over 150 branches across Sri Lanka, DFCC Bank provides easy access to its services for its customers.

Customers can also use the bank's mobile banking app to perform a variety of tasks, including checking account balances and paying bills.

The bank's ATM network is widespread, with over 500 ATMs located across the country.

DFCC Bank's online banking system is secure, using the latest encryption technology to protect customer data.

This secure system has resulted in a significant reduction in the number of fraudulent transactions.

Curious to learn more? Check out: In a Fractional Reserve Banking System Banks Create Money Because

DFCC Bank PLC is headquartered in Colombo, Sri Lanka. The bank's main office is located at the DFCC Building on 73/5, Galle Road.

The bank's contact number is +94 11 244 2442. This is the number you can call to reach out to the bank's customer service team.

The bank's postal code is 00300, which you'll need if you're sending mail or packages to the bank.

DFCC Bank has a significant presence in Sri Lanka, with sales figures consistently increasing over the years. The bank's sales in Sri Lanka have grown from 12.48B in 2019 to 14.38B in 2022.

One notable trend is the significant jump in sales to 26.54B in 2023, indicating a substantial growth in the market. This growth is a testament to the bank's ability to adapt to changing market conditions.

Here's a breakdown of DFCC Bank's sales in Sri Lanka over the years:

DFCC Bank's adherence to sound financial practices and ethics has earned it a top spot among Sri Lanka's top ten banks. This recognition has led to partnerships with notable institutions like the Asian Development Bank (ADB) and the European Investment Bank (EIB).

The Bank's partnerships with multilateral and bilateral financial bodies have enabled it to channel funds to end-users, supporting market development and capacity building initiatives. This has resulted in DFCC being involved in numerous projects that benefit Sri Lanka's economic growth.

Some of DFCC Bank's notable partner organisations include the Asian Development Bank (ADB), BlueOrchard Microfinance Fund, Commerzbank Aktiengesellschaft, and more. Here are some of its key partners:

The Board of Directors plays a crucial role in shaping the direction of DFCC Bank PLC. The bank has a diverse board with members from various backgrounds, including Vijayanthi Senaratne, who has been a Director/Board Member since 2015.

The average age of the board members is not publicly disclosed, but we do know that Namasivayam Vasantha Kumar is 66 years old.

The tenure of the board members varies, with some serving for over a decade, such as H. Gunawardana, who has been a Director/Board Member since 2010. Others, like Arnila Thambiayah, are relatively new to the board, having joined in 2021.

Here is a list of the current board members, including their titles and the dates they joined the board:

DFCC Bank has earned recognition for its adherence to judicious, far-sighted, and credible financial practices and ethical conduct. This has propelled its ranking among Sri Lanka's top ten banks.

The Government of Sri Lanka and various multilateral and bilateral financial bodies, such as the Asian Development Bank (ADB), have taken notice of DFCC Bank's reputation. They have chosen to channel funds to end-users through DFCC, resulting in the Bank's involvement in numerous projects.

These projects have effectively supported market development and capacity building initiatives, contributing to Sri Lanka's overall economic growth. Crucial support has also been provided to vulnerable segments.

Some of the notable partner organisations of DFCC Bank include:

DFCC Bank's partnerships with these global institutions have been instrumental in supporting Sri Lanka's economic growth.

The DFCC Group's strategic orientation is enriched by its multiple subsidiaries, joint ventures, and associate companies. This diversification amplifies its overall capacity and scope of strategic direction.

These subsidiaries, joint ventures, and associate companies augment the DFCC Group's goals for comprehensive growth and development. By doing so, the group can leverage diverse strengths and expertise to achieve its objectives.

The strategic diversification of the DFCC Group allows it to tackle complex challenges and capitalize on new opportunities.

DFCC Bank has taken a strategic initiative to expand its reach among diverse business sectors by maintaining links in various industry associations. This approach helps the bank stay connected with different industries and professionals.

The bank is a member of the American Chamber of Commerce in Sri Lanka, which suggests its commitment to engaging with international business communities. DFCC Bank also has a presence in the Association of Compliance Officers of Banks Sri Lanka, indicating its focus on regulatory compliance.

In addition to these memberships, the bank is also associated with the Association of Development Financing Institutions in Asia and the Pacific, which highlights its involvement in development financing. This is further reinforced by its membership in the Association of Professional Bankers, Sri Lanka.

Below is a list of some of the notable industry associations that DFCC Bank is a part of:

By being part of these industry associations, DFCC Bank demonstrates its commitment to fostering strong alliances and achieving sustainable growth.