DFCC Bank

DFCC Bank PLC is a prominent commercial bank in Sri Lanka, originally established in 1955 as the Development Finance Corporation of Ceylon (DFCC) to serve as the nation's first development finance institution.^[1] It was founded under an Act of Parliament in collaboration with the Government of Sri Lanka and the World Bank, with the primary mandate to finance enterprises, nurture industrial growth, and support economic development in the newly independent country.^[1] Over nearly seven decades, DFCC Bank has evolved from a specialized development lender into a fully licensed commercial bank, merging with DFCC Vardhana Bank PLC in 2015 to expand its operations.^[1] The bank's core activities encompass a broad spectrum of financial services, including retail banking (such as housing loans and savings accounts), small and medium enterprise (SME) financing (with customized loans and leasing options), corporate banking (including project finance and trade services), treasury operations, and investment banking through subsidiaries.^[2] DFCC Bank places a strong emphasis on sustainable finance, pioneering Sri Lanka's first Green Bond and, in November 2025, issuing the country's debut 'blue' bond worth LKR 3 billion to fund water-related projects.^[2][3] Its digital initiatives, such as the DFCC ONE mobile app and Lanka Money Transfer platform—which earned a Silver award at the National Best Quality Software Awards (NBQSA) 2025 for promoting financial inclusion—further enhance accessibility for customers.^[2][4] As of 2025, DFCC Bank operates a network of 139 branches nationwide, employs 2,523 staff as of September 2025, and provides access to over 6,000 ATMs via the LankaPay network, making it one of Sri Lanka's key financial institutions.^[2] Listed on the Colombo Stock Exchange since 1956—the first bank to achieve this milestone—it continues to drive economic resilience, reporting robust loan growth of LKR 100.27 billion in the first nine months of 2025 amid lower impairments.^[1][5] Through subsidiaries in areas like asset management and investment banking, the bank supports long-term national priorities such as SME empowerment and environmental sustainability.^[2]

History

Founding and early development

DFCC Bank was established in 1955 as the Development Finance Corporation of Ceylon (DFCC) under an Act of Parliament, following a recommendation from the World Bank's first mission to Sri Lanka in 1952 to create a dedicated institution for providing medium- and long-term financing to the private sector.^[6] The founding was supported by the Government of Sri Lanka, which provided an interest-free loan of Rs. 16 million—twice the initial authorized capital of Rs. 8 million—along with guarantees and foreign exchange risk absorption, while the World Bank offered technical assistance and long-term loans to facilitate operations.^[1][6] This structure positioned DFCC as Sri Lanka's pioneering development finance institution, aimed at addressing the lack of long-term capital in a financial system dominated by short-term commercial banking.^[1] The bank's early mandate focused on financing enterprises and industries in the private sector, including industry, commerce, and agriculture, while operating independently of direct government ownership to encourage private capital participation and economic diversification in the post-independence era.^[6] In 1956, DFCC became the first financial institution listed on the Colombo Brokers’ Association—the predecessor to the Colombo Stock Exchange—marking a significant milestone in developing Sri Lanka's capital markets and enabling broader shareholder involvement.^[7][8] During its initial decades, DFCC extended term loans and technical support to industrial and agricultural projects, pioneering access to foreign currency for private sector imports of capital goods despite prevailing socialist policies that limited private investment.^[6] By the mid-1970s, DFCC expanded its focus to small and medium-sized enterprises (SMEs) to bolster broader economic growth, securing a line of credit from the World Bank's International Development Association specifically for this purpose in 1975.^[1] In 1978, the bank established a dedicated SME unit to streamline financing and advisory services for these enterprises, enhancing their access to capital amid post-1977 economic liberalization.^[9] Throughout the 1980s, DFCC deployed trained officers to regional towns across Sri Lanka to provide on-the-ground support, including financial advice and loan facilitation, which helped SMEs establish and expand operations in underserved areas.^[1]

Transformation to commercial banking

During the 1990s and 2000s, DFCC Bank broadened its scope beyond traditional development financing to encompass a wider array of financial services, including finance leasing, investment banking, and trade finance, aligning with Sri Lanka's economic liberalization efforts.^[6] This diversification allowed the bank to support private sector growth while maintaining its developmental mandate, with notable expansions in project financing for infrastructure and industrial ventures.^[10] By acquiring Mercantile Banking Corporation in 2002 and rebranding it as DFCC Vardhana Bank in 2003, DFCC entered the commercial banking space, introducing personal and retail banking products to complement its core offerings.^[11] A pivotal moment occurred in 2015 when DFCC Bank amalgamated with its subsidiary DFCC Vardhana Bank, transforming into a fully licensed commercial bank under the supervision of the Central Bank of Sri Lanka.^[12] The merger, approved unanimously by shareholders and effective from October 1, 2015, integrated DFCC's development expertise with Vardhana's retail and SME focus, creating a unified entity with assets of approximately Rs. 210 billion (as at March 2015).^[13] This structural shift enabled DFCC to operate under the same regulatory framework as other commercial banks in Sri Lanka, facilitating expanded access to deposits and lending.^[14] Following the merger, DFCC experienced robust growth in its retail and corporate banking segments, with a strengthened emphasis on diversified services such as trade finance and leasing portfolios that supported national economic recovery.^[15] By 2025, marking nearly 70 years since its founding in 1955, the bank had evolved into a comprehensive financial institution that retained its developmental roots while prioritizing commercial viability and customer-centric innovations.^[7]

Corporate governance and ownership

Board and leadership

The Board of Directors of DFCC Bank PLC is led by Chairman J. Durairatnam, an Independent Non-Executive Director appointed to the role in July 2019, who provides strategic oversight and ensures alignment with governance standards.^[16] Under his leadership, the Board emphasizes ethical decision-making and long-term value creation for stakeholders.^[16] The Chief Executive Officer, N. H. Thimal I. Perera, serves as an Executive Director since January 2022, managing daily operations, driving business growth, and implementing the Bank's strategic priorities.^[16][17] As of December 31, 2024, the Board comprises nine members, including the Chairman, CEO, six Independent Non-Executive Directors, and one Non-Independent Non-Executive Director, fostering a balance of expertise in banking, finance, audit, management, and legal domains.^[16] Independent Non-Executive Directors include Ms. L. K. A. H. Fernando, N. K. G. K. Nemmawatta, H. A. J. De Silva Wijeyeratne (Chairman of the Audit Committee), N. Vasantha Kumar (Chairman of the Board Integrated Risk Management Committee), Ms. A. L. Thambaiyah (Chairperson of the Human Resources and Remuneration Committee), and W. R. H. Fernando (Chairman of the Nomination and Governance Committee).^[16] P. A. Jayatunga joined as a Non-Independent Non-Executive Director in November 2024.^[16] The Board promotes diversity through a policy encouraging varied backgrounds, skills, experience, age, and gender representation, resulting in two female directors among the nine members.^[16] The Board operates through specialized committees to enhance oversight and decision-making, including the Audit Committee (chaired by H. A. J. De Silva Wijeyeratne, focusing on financial reporting and internal controls), the Human Resources and Remuneration Committee (chaired by Ms. A. L. Thambaiyah, addressing executive compensation and HR policies), the Nomination and Governance Committee (chaired by W. R. H. Fernando, handling board composition and evaluations), the Board Integrated Risk Management Committee (chaired by N. Vasantha Kumar, overseeing risk frameworks and stress testing), the Related Party Transactions Review Committee (chaired by N. K. G. K. Nemmawatta, ensuring transaction transparency), and credit-related committees such as the Credit Approval and Credit Restructure Committees (chaired by J. Durairatnam).^[16] These committees meet regularly to support the Board's responsibilities.^[16] DFCC Bank's governance practices are fully aligned with Central Bank of Sri Lanka (CBSL) regulations, including the Banking Act Direction No. 05 of 2024 and Direction No. 11 of 2007, as well as Colombo Stock Exchange Listing Rules, with no reported compliance breaches in 2024.^[16] The framework adopts a Three Lines of Defence model for risk management, covering credit, market, liquidity, operational, and ESG risks, while upholding ethical standards through zero-tolerance policies on bribery and corruption, a Whistleblowing Policy, and regular training via the DFCC Risk Management Academy.^[16] Emphasis is placed on transparency, accountability, and board independence to mitigate conflicts and promote sustainable practices.^[16] Key leadership initiatives include robust succession planning overseen by the Nomination and Governance Committee, which annually evaluates plans for Key Management Personnel and maintains a talent pipeline to ensure continuity.^[16] The Board also aligns with the Vision 2025 strategy, prioritizing customer centricity, digital transformation, and sustainability to navigate economic challenges and drive resilient growth.^[16]

Shareholder structure

DFCC Bank is a publicly listed company on the Colombo Stock Exchange (CSE) since January 1, 1956, with the stock symbol DFCC.N0000 and International Securities Identification Number (ISIN) LK0055N00000.^[18] As of September 30, 2025, the bank's major shareholders include Hatton National Bank PLC (A/C No. 1) holding 12.47% (54,681,654 shares), Bank of Ceylon-No. 2 A/C (BOC PTF) with 10.46% (45,862,822 shares), Seylan Bank PLC / Phantom Investments (Pvt) Ltd at 9.73% (42,659,140 shares), Mr. M.A. Yaseen owning 8.33% (36,553,899 shares), and Sri Lanka Insurance Corporation Ltd (Life Fund) possessing 7.58% (33,248,337 shares).^[19] Other notable holders among the top 20 include Melstacorp PLC (6.15%), Employee's Provident Fund (6.05%), and Commercial Bank of Ceylon PLC / Ambeon Holdings PLC (6.15%).^[19] The bank maintains no direct government ownership and has operated as a private sector-led institution since its inception, despite initial founding support from the Government of Sri Lanka and the World Bank.^[7] Shareholding is distributed primarily among institutional investors (such as banks, insurance companies, and funds), with contributions from individual investors and corporate entities; the total shares outstanding stand at approximately 438 million.^[19]

Business operations

Products and services

DFCC Bank offers a diverse range of financial products and services tailored to meet the needs of retail, corporate, and small and medium-sized enterprise (SME) customers in Sri Lanka. As a commercial bank with roots in development finance, it emphasizes accessible lending, deposit solutions, and specialized financing to support economic growth across sectors. These offerings are designed to provide competitive interest rates, flexible terms, and value-added features, ensuring comprehensive financial solutions for individuals and businesses.^[20] In retail banking, DFCC Bank provides personal loans such as the DFCC Express Home Loans for property acquisition and the DFCC Solar Loan for renewable energy investments, alongside hybrid options for government employees nearing retirement. Savings accounts include a variety of options like the DFCC Super Savings Account, which offers higher interest rates and easy access, while fixed deposits provide secure, term-based investment with competitive yields up to senior citizen rates. Credit cards, including the premium DFCC Pinnacle cards, feature rewards programs, travel benefits, and cashback options for everyday and luxury spending.^[21][22][23] Corporate banking at DFCC Bank focuses on comprehensive solutions for larger enterprises, including trade finance facilities such as letters of credit on sight and usance terms, import/export loans, and acceptance credits to facilitate international transactions. Project financing supports large-scale investments and expansions with long-term loans tailored to capital requirements, often structured for risk mitigation and growth funding. Treasury services encompass investment products like treasury bills, bonds, repurchase agreements, and reverse repos, while payment and cash management solutions enable efficient handling of domestic and cross-border flows.^[24][25][26] For SME banking, DFCC Bank builds on its historical development finance expertise by offering specialized loans such as the DFCC SAHAYA Loan Scheme for micro, small, and medium enterprises, term loans for working capital, and refinance schemes like SMELoC under ADB partnerships. Leasing options provide flexible asset financing for equipment and vehicles, complemented by advisory services through propositions like the Gold Club, which includes dedicated relationship management and financial planning support to aid business stability and expansion. Overdrafts and business current accounts further streamline daily operations for SMEs.^[27][28][29] Additional services include remittances through the Lanka Money Transfer (LMT) platform, which enables instant inward transfers for expatriate workers via a global correspondent network. Insurance partnerships under DFCC Bancassurance, in collaboration with providers like AIA Insurance, offer life and general coverage for assets, health, and business risks. Wealth management is available through the DFCC Pinnacle private banking arm, providing personalized investment advice, estate planning, and offshore solutions for high-net-worth individuals. These services are accessible via digital platforms for enhanced convenience.^[30][31][32]

Branch network and digital presence

DFCC Bank maintains a nationwide branch network in Sri Lanka, headquartered in Colombo, with 134 branches as of September 2025 that span urban centers and regional areas to ensure broad accessibility for customers.^[19] This infrastructure supports the bank's operations in providing essential banking services to diverse communities, from major cities like Colombo and Kandy to provincial locations across the island.^[1] Complementing its physical branches, DFCC Bank provides access to over 6,000 ATMs through the LankaPay network, enabling customers to perform cash withdrawals and other transactions at shared automated teller machines nationwide.^[33] This interconnected system, which includes DFCC's own ATMs at branch and off-site locations, enhances convenience and extends service reach beyond branch hours.^[34] The bank's operations are supported by an employee base of over 2,400 as of 2025, who manage branch activities, customer interactions, and overall service delivery across the network.^[35] This workforce plays a crucial role in maintaining the reliability of the physical infrastructure while facilitating transitions to digital alternatives. In terms of digital presence, DFCC Bank introduced basic online banking portals and initial mobile interfaces prior to 2020, with the launch of its pioneering Virtual Wallet mobile application in 2015 marking an early step toward accessible digital services.^[36] These foundational platforms allowed customers to conduct transactions remotely, laying the groundwork for broader digital adoption without requiring physical branch visits.^[37]

Financial performance

Historical financial overview

DFCC Bank, established in 1955 as Sri Lanka's pioneering development finance institution, initially concentrated its financial activities on providing long-term loans for industrial and infrastructural projects to foster economic growth.^[1] Early operations emphasized development lending, with the bank's growth significantly supported by international funding, including a 1975 line of credit from the World Bank's International Development Association (IDA) valued at US$4.5 million to finance imports of capital goods for small and medium-scale industries.^[38] This infusion enabled expansion of the loan portfolio, aligning with the bank's mandate under the DFCC Bank Act No. 35 of 1955 to promote balanced sectoral development.^[1] The 2015 amalgamation with its subsidiary DFCC Vardhana Bank transformed DFCC into a fully licensed commercial bank, integrating retail and corporate operations and bolstering its asset base to approximately LKR 247 billion by December 2015.^[39] Post-merger, the bank experienced steady asset expansion, reaching LKR 645 billion by the end of 2023, driven by diversified lending and deposit mobilization.^[40] This represented a compound annual growth rate of around 12% in total assets from 2016 to 2019, within the 10-15% range observed pre-2020, supported by robust economic conditions and strategic project financing.^[41] Revenue and profit trends reflected consistent performance amid evolving challenges, with net interest income forming the core of earnings through expanded loan portfolios in corporate and SME sectors.^[42] However, Sri Lanka's 2022 economic crisis, marked by debt default, inflation exceeding 70%, and liquidity constraints, led to heightened impairment provisions and moderated growth, with gross non-performing loans rising to 7.03% by 2023.^[42] Despite these pressures, the bank maintained profitability, culminating in a group net profit after tax of LKR 8.6 billion in 2023, a significant recovery from LKR 2.5 billion in 2022, aided by interest rate stabilization and cost management.^[40]

Recent results and metrics

In 2024, the DFCC Group recorded total income of LKR 90.156 billion, reflecting a 16% decline compared to the previous year, amid ongoing economic stabilization efforts in Sri Lanka.^[43] The group's profit after tax rose 15% to LKR 9.93 billion, driven by improved operational efficiency and a 30% increase in net operating income.^[44] Total assets expanded by 10% to LKR 709 billion, underscoring the group's robust balance sheet growth during the recovery phase following Sri Lanka's 2022 economic crisis.^[44] Entering 2025, DFCC Bank demonstrated sustained profitability, with return on equity (ROE) reaching 14.25% in the first quarter, supported by a strong capital position evidenced by a total capital adequacy ratio of 14.66%.^[45] For the first half of 2025, ROE improved to 14.95%, while return on assets (ROA) before tax stood at 2.37%, reflecting effective cost management and revenue diversification in a gradually improving economic environment.^[46] Over the nine months ended September 30, 2025, group profit after tax amounted to LKR 8.53 billion, with ROE at 15.85% and ROA before tax at 2.71%, bolstered by 26% loan portfolio growth and reduced impairment provisions. Total assets reached LKR 853 billion as of September 30, 2025, reflecting 20% growth from December 2024.^[47][19] DFCC Bank's financial metrics in this period were influenced by Sri Lanka's post-2022 crisis recovery, including easing interest rates and renewed private sector credit demand, alongside the bank's strategic focus on core banking operations.^[19] Credit ratings agency Fitch upgraded the bank's National Long-Term Rating to 'A(lka)' with a stable outlook in January 2025, citing its solid capitalization and improved asset quality, with further upgrade potential linked to sustained economic rebound.^[48]

Sustainability and ESG initiatives

Green financing

DFCC Bank has positioned itself as a leader in sustainable finance in Sri Lanka through its accreditation as the country's first and only national direct access entity to the Green Climate Fund (GCF) in July 2023. This milestone enables the bank to directly access up to USD 250 million in concessional climate finance for adaptation and mitigation projects, facilitating blended financing options for local initiatives without relying on international intermediaries.^[49][50] In 2024, DFCC Bank issued Sri Lanka's inaugural green bond, raising LKR 2.5 billion to fund environmentally sustainable projects, which was oversubscribed on its opening day and listed on the Colombo Stock Exchange and Luxembourg Green Exchange. Building on this, the bank launched its debut blue bond in September 2025, a LKR 3 billion instrument dedicated to water-related initiatives such as clean drinking water supply, coastal resilience, and sustainable marine resource management, marking the first such issuance in Sri Lanka. The issuance was oversubscribed on its opening day and listed on the Colombo Stock Exchange in November 2025.^{[51][3][52][53]} Further advancing its green financing portfolio, DFCC Bank proposed a Basel III-compliant subordinated Green, Social, and Sustainable Bond in 2025, rated 'BBB+(exp)(lka)' by Fitch Ratings, to bolster Tier 2 capital and support expansion in sustainable lending. The bank's green loan portfolio, encompassing financing for clean energy projects like solar installations, sustainable agriculture, and climate-resilient infrastructure, exceeded LKR 10 billion by 2025, reflecting its commitment to channeling capital toward low-carbon and resource-efficient developments.^[54][55]

Sustainability strategy

In 2020, DFCC Bank launched its inaugural 10-year sustainability strategy, a comprehensive framework designed to address key environmental, social, and governance (ESG) challenges while fostering long-term stakeholder value through the Triple Bottom Line approach of people, planet, and profit.^[56] This strategy is fully integrated into the bank's Vision 2025, which emphasizes customer-centric operations and digital advancement to drive sustainable economic growth in Sri Lanka.^[56] The strategy is structured around three core dimensions—Resilient Business, Impact for Resilience, and Resilient Communities—supported by enablers such as innovative financing and stakeholder engagement.^[57] DFCC Bank's ESG policy, formalized in 2024, outlines key priorities including responsible financing through an Environmental and Social Management System (ESMS) established in 2016, environmental risk management via loan appraisals and monitoring for projects exceeding LKR 25 million, ethical governance overseen by the Board of Directors and the Executive Sustainability Management Committee (ESMC), and human capital development via a Diversity, Equity, and Inclusion (DEI) policy introduced in 2022.^[58][59] These priorities ensure alignment with ethical standards and risk mitigation across operations. The bank has committed to the United Nations Sustainable Development Goals (SDGs), integrating them into its financing and initiatives, with particular emphasis on financial inclusion through microfinance and MSME support (aligning with SDG 1 and SDG 8), climate action via renewable energy projects (SDG 13), and gender equality through women-focused lending and workplace programs (SDG 5).^[59][60] In 2025, DFCC Bank enhanced its ESG framework by engaging KPMG Sri Lanka for a gap analysis of sustainability reporting and strategy, set for completion by mid-year, to strengthen accountability and compliance with standards like SLFRS S1 and S2.^[59] This includes targets for carbon footprint reduction, aiming for carbon neutrality by 2030, alongside community impact programs such as the DFCC Community Kitchen for health support and DFCC Life to Marine for environmental conservation.^[59] These updates build on the 10-year strategy to promote inclusive value creation and resilience amid economic uncertainties.^[59]

Digital transformation

Key digital platforms

DFCC Bank's digital ecosystem features several core platforms designed to facilitate secure and convenient banking services for both retail and corporate clients. The DFCC Online Banking portal serves as the primary online interface for personal account management. Users can view account balances, initiate fund transfers via systems like CEFTS and SLIPS, and process bill payments for utilities, insurance, and taxes directly from their desktops or devices. This platform supports high transaction limits, up to LKR 10 million per day, and includes self-service options such as account opening with incentives like 0.5% extra interest on fixed deposits.^[37] Complementing the online portal, the DFCC One mobile banking app provides retail customers with an all-in-one virtual wallet for on-the-go financial management. Launched as a comprehensive mobile solution, it enables real-time account monitoring, QR code-based payments, instant fund transfers, and customizable alerts for transactions and balances. The app incorporates biometric authentication for secure access and supports credit card management, making it suitable for everyday banking needs with competitive transaction limits, such as up to LKR 50 million per day for transfers within DFCC accounts. Available on Android, iOS, and Huawei devices, DFCC One emphasizes user-friendly features to promote digital adoption among individual users.^[61][62] For corporate clients, DFCC iConnect stands as the dedicated digital business banking platform, focusing on advanced operational needs. It offers tools for trade finance, including letters of credit and export/import documentation, alongside treasury management for cash flow optimization and real-time payments. The platform integrates with enterprise resource planning (ERP) systems for seamless data exchange and provides 24/7 access to reporting and analytics, enhancing efficiency for small and medium enterprises as well as larger corporations. DFCC iConnect has been recognized for its secure architecture and comprehensive features in supporting business growth.^[63] DFCC Bank further extends its digital reach through integration with the LankaPay network, enabling seamless access to over 6,000 ATMs island-wide. This connectivity allows DFCC cardholders to perform cash withdrawals, deposits, and purchases at non-DFCC machines, supporting local cards and international schemes like UnionPay and JCB for broader interoperability. The integration underscores DFCC's commitment to a unified national payment infrastructure, reducing reliance on proprietary networks.^[64][65]

Recent innovations and partnerships

In 2025, DFCC Bank advanced its digital capabilities by integrating artificial intelligence (AI) and machine learning into core operations, particularly for fraud detection and personalized customer services. These technologies enhance security by analyzing transaction patterns in real-time to identify anomalies, while also tailoring services such as customized financial advice and streamlined customer journeys through platforms like DFCC One. This integration supports the bank's broader digital transformation strategy, improving efficiency and user experience without disrupting existing systems.^[66] A key partnership announced in November 2025 involved Millennium EBS, a subsidiary of Blueone Card Inc., to implement the ISO Transformer Solution for DFCC Bank's payment systems. This collaboration enables seamless translation of SWIFT messages from legacy formats to the ISO 20022 standard, facilitating regulatory compliance, faster cross-border transactions, and more efficient payment processing overall. The initiative builds on Millennium EBS's prior successes in financial integration technologies, positioning DFCC Bank to modernize its infrastructure amid growing global payment demands.^[67] DFCC Bank also expanded its Lanka Money Transfer (LMT) platform in 2025, broadening access to formal remittances through new partnerships and digital channels to serve expatriate workers and rural recipients. This development connects over 3 million Sri Lankans abroad with affordable, secure transfer options, integrating unbanked populations into the formal economy and promoting financial inclusion. The platform's enhancements earned it a Silver Award at the NBQSA 2025 in the Regional, Rural and Remote Services category, recognizing its impact on community services.^[68] As part of its commitment to fostering ICT innovation, DFCC Bank served as Silver Sponsor and Official Banking Partner for INFOTEL 2025, Sri Lanka's leading national ICT exhibition held from November 7 to 9 at the BMICH in Colombo. Through this role, the bank showcased integrated financial-technology solutions, including digital banking tools for SMEs and corporates, to advance national digital adoption and bridge finance with emerging technologies. The partnership underscores DFCC Bank's support for inclusive growth in the ICT sector.^[69]

Awards and recognition

National awards

In 2025, DFCC Bank received four accolades at the LankaPay Technovation Awards, recognizing its innovations in payments and financial services. These included Gold awards for Bank of the Year for Excellence in Customer Convenience (Category C) and Bank of the Year for Financial Inclusivity (Category C), along with Merit awards for Overall Excellence in Digital Payments – Banking Institution and Best Common ATM Enabler of the Year (Category B).^[70] The bank earned recognition for sales excellence at the SLIM National Sales Awards in November 2025, achieving five wins across categories for the first time in its history.^[71] In October 2025, DFCC Bank's Lanka Money Transfer Platform was awarded the Silver Award at the National Best Quality Software Awards (NBQSA), honoring its role in advancing financial inclusion through secure, affordable remittance solutions developed in partnership with Synapsys Ltd.^[72] In 2024, DFCC Bank secured the Merit Award at the CMA Excellence in Integrated Reporting Awards from the Institute of Certified Management Accountants of Sri Lanka, acknowledging its transparent and comprehensive annual reporting. Additionally, the bank received local honors for growth and profitability, including Best Performance on Growth and Best Performance on Profitability at the 2nd ICC Emerging Asia Banking Conclave & Awards, as well as the Overall Gold Winner and Excellence Award in the Private Sector Banking Category at the Best Management Practices Company Awards.^[73]

International recognition

In 2025, DFCC Bank received the VISA Commercial Solutions Excellence Award for achieving the highest quarter-on-quarter issuance growth on commercial cards, recognizing its leadership in corporate card expansion at the VISA Leadership Conclave held in Colombo.^[74] This accolade underscores the bank's innovative strategies in commercial payment solutions, positioning it as a key player in regional financial services growth. The 2024 Global Banking & Finance Awards honored DFCC Bank with multiple distinctions, including Best Bank for Sustainable Development - Sri Lanka, highlighting its commitment to environmental and social governance in banking operations.^[75] Additionally, the bank was recognized as Banking Brand of the Year - Sri Lanka and Fastest Growing Retail Bank - Sri Lanka, reflecting strong performance in brand equity and profitability amid economic challenges.^[76][77] These awards affirm DFCC Bank's global standing in sustainable and efficient financial practices. At the 2024 Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Awards, DFCC Bank earned a Merit Award in Category 10 for excellence in development financing, specifically for its "DFCC Read the Way – Educational Support Programme," which promotes inclusive economic development through education initiatives.^[78] This recognition celebrates the bank's contributions to sustainable development projects across Asia-Pacific, emphasizing its role as a founding member of ADFIAP since 1970. DFCC Bank's accreditation by the Green Climate Fund (GCF) in July 2023 marked it as the first and only Sri Lankan entity to gain direct access status, enabling the bank to channel international climate finance for mitigation and adaptation projects.^[50] This ongoing recognition, effective through 2025 and beyond via the Accreditation Master Agreement executed in August 2024, strengthens DFCC Bank's capacity to support green investments in Sri Lanka, aligning with global climate goals.^[79]