SDB bank Announces Strategic Bancassurance Partnership with LOLC Life Assurance Ltd.

As a significant step towards enhancing cross-financial and insurance services, SDB bank is pleased to announce its new bancassurance partnership with LOLC Life Assurance Ltd. This collaboration marks an important milestone in providing SDB bank customers convenient access to life insurance products, leveraging LOLC's expertise and integrating its offerings into the Bank's extensive branch network. Through this partnership, customers can avail of both banking and insurance services under one roof, thereby facilitating a seamless service experience for existing and prospective clients.

The Memorandum of Understanding (MOU) was officially signed at the SDB bank Head Office on April 22, 2024 by Mr. Niranjan Thangarajah Acting Chief Executive Officer, SDB bank, and Mrs. Nadika Opatha Director/Chief Executive Officer of LOLC Life Assurance Ltd. Mr. Thangarah expressed his enthusiasm for the partnership stating, "This alliance with LOLC Life Assurance is a testament to SDB bank's commitment to offering our customers a holistic banking experience. By integrating insurance services into our network, we are not only expanding our portfolio but also providing our clients with the convenience and trust they associate with SDB bank."

The partnership is poised to set a new benchmark in the SDB bank, reflecting both organizations' dedication to providing exceptional service and value to their customers. This agreement makes it more convenient and faster for SDB bank customers to obtain life insurance, thus enhancing the ease of their lives.

About SDB bank

A future-ready bank, dedicated to offering customer-centric and comprehensive support tailored to each individual's needs, SDB bank is a licensed specialized bank regulated by the Central Bank of Sri Lanka, with a listing on the Main Board of the Colombo Stock Exchange and a Fitch Rating of BB +(lka). Through the network of 94 branches islandwide, the bank provides a comprehensive range of financial services to its Retail, SME, Co-operative, and Business Banking clients across the country. Environmental, Social, and Governance (ESG) principle.