Accelerating momentum and steering Sri Lanka’s automotive future, Citizens Development Business Finance PLC (CDB) has signed a strategic partnership with the Ceylon Automobile Importers Association of Sri Lanka as Title Partner for the landmark Ceylon Automobile Importers’ Motor Rally 2026. This landmark event, the first rally organized by the Association, will take place on 16th August, beginning at Port City Colombo and concluding at Water’s Edge. 

The rally will showcase over 200 branded vehicles, including supercars, luxury automobiles, and premium imports from leading vehicle importers registered with the Association. The convoy will traverse Colombo’s key routes – including Duplication Road, Moratuwa, Boralasgamuwa, Kohuwala, and Rajagiriya – passing major car sales hubs before reaching its grand finale. 

Speaking on the partnership, Executive Director - Sales and Business Development of CDB Sasindra Munasinghe said: “CDB partners with the Ceylon Automobile Importers Association in powering this historic rally. Together with the Association, we are at the forefront of driving vehicle ownership and increasing access to mobility across Sri Lanka. As a progressive financial solutions provider, we remain committed to supporting the growth of the automobile industry while enabling greater access to mobility through innovative financial products. This rally is not just a celebration of automobiles, but a testament to the industry's evolution, resilience, and future potential.”

Echoing this sentiment, President of the Automobile Importers Association Prasad Manage stated: “The Ceylon Automotive Importers Motor Rally powered by CDB marks a new chapter for Sri Lanka’s automotive landscape. With the support of CDB and our other partners, we are able to bring together leading brands and enthusiasts in a dynamic showcase that highlights luxury, performance and innovation. This partnership strengthens our mission to elevate the industry and create engaging experiences for the public.”

The Automobile Importers’ Rally 2026 promises to be one of the most anticipated automotive events in the country, celebrating the evolution of Sri Lanka’s automobile sector while reinforcing CDB’s role as a trusted partner in driving progress and innovation. 

Citizens Development Business Finance PLC (CDB) reported another year of strong financial and operational performance for the financial year ended 31 March 2026, surpassing the landmark Rs. 200 billion asset milestone while recording Profit After Tax of Rs. 4.5 billion, reinforcing its position among Sri Lanka’s leading non-bank financial institutions.

The Company’s total assets expanded by 37% to Rs. 214.7 billion, while its lending portfolio grew by an impressive 53% to Rs. 169.2 billion, supported by new disbursements exceeding Rs. 110 billion during the year. Gross income increased by 18% to Rs. 30.2 billion, with Profit Before Taxes rising to Rs. 8.2 billion and Profit After Tax increasing by 12% to Rs. 4.5 billion.

The Board of Directors declared a total dividend payout of Rs. 1.25 Bn for the financial year, a 16.67% increase over the prior year, comprising an interim dividend of Rs. 7.50 per share (pre-subdivision) and a final dividend of Rs. 1.00 per share on the subdivided capital. The Board also completed a one-for-ten share subdivision of both voting and non-voting shares in April 2026, aimed at broadening market accessibility and liquidity.

The year also saw a significant improvement in asset quality, with the Net Non-Performing Loan Ratio improving to 1.53% from 3.1% in the previous year, reflecting disciplined credit underwriting, enhanced portfolio monitoring, automated credit decision-making, and a more stable economic environment.

Commenting on the Company's performance, Chairman Alastair Corera stated: "The achievements recorded during FY2025/26 are not merely the result of favourable market conditions but the outcome of deliberate strategic execution, disciplined governance and years of investment in strengthening our capabilities. Having surpassed the Rs. 200 billion asset milestone, CDB is now firmly positioned to achieve its next strategic growth phase."

The Chairman further highlighted that CDB's diversified funding strategy, strengthened risk management framework, and continued commitment to sustainability have enhanced the Company's resilience while enabling uninterrupted balance sheet expansion.

Managing Director and Chief Executive Officer Mahesh Nanayakkara described FY2025/26 as one of the most significant years in CDB's history.

"When we commenced our transformation journey over two decades ago, CDB was an institution with an asset base of less than Rs. 1 billion. Today, we stand as a Rs. 214 billion institution with a strong financial position, diversified funding sources, improving asset quality, scalable digital capabilities and a clear roadmap for future growth."

He noted that while scale remains important, the Company's next phase of evolution will increasingly focus on improving profitability, enhancing capital efficiency, strengthening returns, and creating superior long-term value for stakeholders.

A key strategic development during the year was CDB's decision to transition from a technology-enabled organisation to an AI-enabled organisation, supported by a comprehensive roadmap focused on empowering employees with enterprise-grade generative AI capabilities, embedding artificial intelligence across business functions and customer journeys, and deploying agentic AI solutions to automate increasingly complex processes.

The Company's digital transformation continued to gather momentum, with users of the CDB SELF platform increasing by 93% year-on-year, while digital transactions accounted for 74% of total customer transactions.

Beyond financial performance, CDB continued to create meaningful value across all stakeholder groups through its integrated value creation model.

The Company invested Rs. 49 million in community initiatives, continued the expansion of its flagship Smart Computer Labs programme across all districts, advanced autism intervention initiatives and strengthened educational support through the Sisudiri Scholarship Programme.

CDB also expanded its sustainability agenda through a green financing portfolio exceeding Rs. 31 billion, supporting renewable energy adoption, electric mobility, climate resilience and sustainable economic development. Environmental considerations remain integrated into lending decisions and risk assessment processes, reinforcing the Company's commitment to achieving a 30% reduction in carbon intensity over the next five years.

Recognising that sustainable institutions are built on leadership continuity, CDB also reaffirmed its commitment to succession planning through a carefully structured leadership transition framework. Developed over several years, the programme focuses on preparing the next generation of leaders through international exposure, leadership development and progressively larger responsibilities, ensuring continuity, institutional resilience and long-term sustainability.

As Sri Lanka continues its economic recovery amidst evolving global uncertainties, CDB enters FY2026/27 from a position of strength. With a strong financial position, diversified funding base, improving asset quality, scalable digital operating model, robust sustainability framework and AI-led transformation agenda, the Company remains confident continuing to create sustainable value for all stakeholders.

Citizens Development Business Finance PLC (CDB) signed a Memorandum of Understanding (MoU) with Micro Cars Ltd to introduce exclusive financial solutions customized specifically for Micro vehicles. This partnership is designed to enhance accessibility and convenience via customized financial solutions, flexible repayment tenors and exclusive insurance benefits through a simplified financing process for both personal and commercial vehicles.

 Speaking on the partnership, Deputy CEO/Executive Director of CDB Damith Tennakoon said, “We are delighted to partner with Micro Cars to provide its customers with innovative and flexible financial solutions. This collaboration ensures that Micro vehicle buyers can access exclusive benefits and a seamless financing process, making vehicle ownership more convenient and rewarding.”

 Adding to this, Asela Lihinikaduwa, Group Director of Micro Cars Ltd, stated, “As the authorized distributor for MG, Chery, SsangYong, and Higer in Sri Lanka, Micro Cars offers vehicles across all price ranges and fuel types – from petrol and hybrid to plug-in hybrid (PHEV) and fully electric (EV). With over 30 years of experience in the Sri Lankan automotive market, Micro Cars has built a trusted legacy of delivering quality vehicles and customer-focused solutions. By extending customized financial solutions through this partnership with CDB, we are ensuring greater convenience and accessibility for our customers, empowering them to embrace evolving mobility needs with confidence.”

 By extending customized financial solutions and thereby greater customer convenience to purchase Micro vehicles, the partnership reflects the shared commitment of both organizations to delivering innovative, customer-centric solutions that address evolving mobility needs.

Citizens Development Business Finance PLC (CDB) has introduced the Sound Box as part of its continued focus on digital payment solutions in Sri Lanka. The device provides instant voice confirmations for QR payment transactions, contributing to improved merchant convenience, transaction transparency, and broader digital adoption, particularly among SMEs.

The QR Sound Box eliminates the need for merchants to manually verify payments via mobile devices, providing instant audio confirmation of successful transactions. Designed as a versatile payment device, it supports QR transactions and is equipped with built-in card acceptance capability, with card payment services to be introduced by CDB in line with its future provisions.

This innovation enhances transaction transparency, merchant confidence and customer trust, while driving adoption of digital payments across cash-heavy environments such as markets, fairs and pop-up stores.

Chief Sales & Digital Business Officer of CDB, Hasitha Dassanyake added: “The QR Sound Box reflects our commitment to empowering merchants and accelerating digital adoption. By addressing key pain points in transaction visibility and trust, we are reinforcing CDB’s role as a leader in financial services innovation and supporting Sri Lanka’s transition towards a cashlite economy.