Having focused, maintained and continued to raise the bar in business excellence, Citizens Development Business Finance PLC (CDB) was rewarded with the highest laurel in the Non-Banking Financial Services Sector at the National Business Excellence Awards 2024. Organised by the National Chamber of Commerce of Sri Lanka, the awards aim to distinguish businesses that continue to raise the benchmark in business excellence.

Recognised for its sustainable tech-infused business model and best practices which evolved into creating an award winning entity that works on the foundation of People.Planet.Profit, CDB won the award for an unprecedented seventh time, which underscores its continued commitment to sustainability principles and values.

“Being recognized for seven years as the leader in business excellence in the NBFI sector also reiterates that we have been raising the bar continually,” says Deputy CEO Damith Tennakoon. “We have built a strong foundation with a solid performance over nearly three decades. We believe that sound and effective corporate practices are fundamental to the smooth, effective and transparent operation of a company and its ability to attract investment, protect the rights of shareholders and other stakeholders, and enhance shareholder value.”

Now in its 19th year, the prestigious NBEA Awards works through multiple and diverse categories and industries and has over the years had a significant number of entries vying for the awards. Led by industry captain Sunil G Wijesinha, the panel of judges evaluates businesses on seven criteria. These are excellence in Strategy & Leadership, Corporate Governance & Strategy, Capacity Building, Performance Management, Local and Global Market Reach, Corporate Social Responsibility & Environmental Sustainability, Business & Financial results.

“CDB’s fundamental premise has always been in driving financial inclusion across the entire demographics in the country. Into this formula, we add environmental sustainability to advance the green economy with a goal to becoming Net Zero by 2030.” explains Tennakoon “We will become a resource efficient organization with decarbonization integral to the mix. The singular focus we have forged and nurtured to attain our goals have been driven by a team of highly motivated committed persons for whom tech innovation remains an integral facet of our growth.”

He adds that CDB is fortunate that each of Its stakeholders have joined in its 29 year journey, highlighting the confidence and trust they have in the Company. “We remain strong in our vision of becoming the financial powerhouse, fostering entrepreneurial innovation and workmanship to build our country’s economy to make sustained gains in the living standards of our people.”

CDB has continued to be resilient through challenging times, a hallmark that is very much a part of this trailblazing entity’s persona, empowering the aspirations of its stakeholders which begins with its team and cascades to customers, shareholders, the community and the country.