As Citizens Development Business Finance PLC (CDB) CDB steps into its 29th year, it unfolds a history of a financial entity that is a beacon of innovation for the financial services industry, etching a legacy of being a socially conscious corporate steward which has continued to hold aloft the principles of moving forward within a formula that combines sustainability and technology for the greater good.
And that greater good heralds another milestone in CDB’s commitment towards a greener future – the conversion of 50 electric three-wheelers, reducing 161,796 kgs per year of carbon emissions measured according to methodology developed in collaboration with IFC.
MD/CEO Mahesh Nanayakkara said, “We are fortunate to have a winning team that has grown to over 1,900. It is they who have over these 29 years taken CDB to heights unmatched, delivering consistent and impressive quantitative and qualitative results that have made CDB a groundbreaker and trailblazer today – this is despite innumerable challenges which our team has always grasped as an opportunity to do bigger and better.”
CDB, which has been recognised with numerous accolades for its corporate stewardship works on a business model that embeds the key enabling pillars of technology and sustainability. This is the driver for CDB to reach its ambitious goals in becoming a fin-tech driven by sustainability, while being firmly aligned to our ESG goals including achieving NetZero status by 2030.”
With a focus on strengthening its bottom line and top line consistently, CDB has, over the years, expanded its foreign funding portfolio diversifying funding sources and expanding capacity. One of these milestones was the USD 30 mn purpose-driven, long-term loan from the US Development Finance Corporation (DFC). Collaborations continue with international entities to improve and standardise CDB’s sustainability parameters.
CDB’s strategy for progress is a holistic approach that leverages technology through its digital-first business model complemented by a relentless drive to pursue solutions for sustainability challenges faced by introducing green mobility and renewable energy solutions.
