DFCC Bank is a pre-eminent provider of project financing and specialist investment advisory services to Sri Lanka’s growing business sector. Starting from small beginnings and initially struggling to survive DFCC Bank today ranks as one of Sri Lanka’s top companies with sustained profits and consistent growth.
Long acknowledged as being one of the bluest of the blue chips on the Colombo bourse, its shares widely sought and actively traded, the Bank has reason to be proud of, not only its own record of achievement, but also the part it has played on the larger canvas of Sri Lanka's economic development. DFCC Bank is amongst the largest capitalized companies on the Colombo Stock Exchange and has been ranked the 'Best Managed Company in Sri Lanka' (1994) and ‘Best Managed Company of the Decade’ (1990 – 2000) in surveys done by ASIAMONEY.
As in most other countries, where similar development financing institutions had been created, in Sri Lanka, DFCC Bank was born out of the desire to accelerate economic development. The objectives were ambitious, but the beginning was modest with DFCC Bank (then known as The Development Finance Corporation of Ceylon) commencing business in the middle of 1956 with an issued capital of just Rs 8 million. DFCC was established by an Act of Parliament and mandated to exclusively provide long term finance to the private sector in industry, commerce and agriculture. The Bank, which is now a licensed specialised bank under Central Bank supervision, wore its development finance institution (DFI) hat to play a role that was innovative and catalytic in the post-independence development of industry in Sri Lanka.
Throughout its journey on a road less traveled, DFCC Bank was buffeted by the winds of political and economic change, but was not engulfed by any of them. The Bank has not only been the pioneer development finance institution in the country and, in fact, one of the earliest in Asia, but has also pioneered many innovations in Sri Lanka's financial sector. It has been the financier of trail blazing Lankan entrepreneurs and an adder of value to the enterprises they built - particularly during their risky early stages. Today many of the country's leading industries in sectors such as apparel, tourism, food and beverages, agriculture and hydropower as well as some of the biggest and best established companies warmly acknowledge the support they have received from DFCC Bank. For enterprising people of Sri Lanka, DFCC is a place where dreams come true.
DFCC Bank’s business thrust is in the areas of project lending, finance leasing, corporate finance, investment banking, deposit mobilisation and treasury operations. The Bank has played a catalytic role in the development of Sri Lanka’s debt market and in supporting the country’s privatisation initiatives. It has interests in fund management, venture capital, stock broking, industrial estates and retail banking. DFCC’s retail banking interests were realised when it acquired 95% of a small commercial bank in 2003 and re-launched it successfully as DFCC Vardhana Bank.
At the heart of every thriving organisation is a team of high calibre people who drive it. A winning strategy that ensures sustained growth and a group of visionary professionals who steer the Bank through a highly competitive financial services market have been the mainstay of DFCC Bank. Employees are DFCC’s most valuable asset. The Bank consistently strives to develop, nurture and motivate its staff through a comprehensive development programme coupled with a progressive performance based rewards system targeted at empowering the team with the necessary skills required to surmount the challenges that lie ahead, as the Bank continues to pursue a vision of becoming Sri Lanka’s premier financial services group.