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

This agreement makes it more convenient and faster for SDB Bank customers to obtain life insurance, thus enhancing the ease of their lives.

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 with convenient access to life insurance products, leveraging LOLC's expertise and integrating its offerings into SDB Bank's extensive branch network.

Through this partnership, customers can avail both banking and insurance services under one roof, thereby facilitating a seamless service experience for current and prospective clients. This initiative is expected to leverage the strengths of both entities, combining SDB Bank's robust banking network with LOLC Life Assurance's expertise in providing comprehensive insurance solutions.

The Memorandum of Understanding (MOU) was officially signed at the SDB Bank Head Office on April 22, 2024, marking the commencement of this auspicious partnership. The MOU was signed by Mr. Niranjan Thangarajah, Acting Chief Executive Officer of SDB Bank, and Mrs. Nadika Opatha, Director/Chief Executive Officer of LOLC Life Assurance Ltd. Mr. Thengarjah 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.

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) principles are deeply ingrained in SDB Bank's ethos, with a steadfast focus on uplifting local communities and businesses through sustainable practices. The bank is particularly committed to promoting women's empowerment, sustainable development of SMEs, and digital inclusion, aiming to propel Sri Lanka to new heights