Aswin De Silva has resigned from the post of Chairman of the state-owned National Savings Bank (NSB) on Monday, Mr. de Silva confirmed.
De Silva is a senior banker with more than 20 years of experience at American Express- Asia. He is FCA, FCMA and FCPA (Australia)-qualified. During the past year, NSB saw record profitability at LKR 14 billion.
NSB asset base was recorded at LKR 1 trillion, a growth 28 per cent in the last three years. NSB also saw the lowest non performing loans in the industry at 1.4 per cent last year. Under Aswin De Silva's stewardship, NSB recently raised a USD 100 million loan facility supported by Commerzbank AG.
The excellent relationship that NSB enjoys with its banking partners has allowed NSB access to a competitive interest rate despite the current global trend of interest rate increases.
The facility was arranged jointly by Dubai based Alpen Capital (ME) Limited and NDB Investment Bank of Sri Lanka. The funds were required as part repayment of USD 750 million which NSB borrowed from international markets in 2013 through an international bond issuance.