Corporate profile of Business Development Cooperative Society Ltd

The Colombo District Business Development Cooperative Society (Coop Bank) was established in March 2002 as a microfinance institution, aiming to provide financial services to economically active poor, those who have no access to formal financial services in Sri lanka.

Microfinance, or the practice of offering small loans to the poor as a fashionable method of poverty alleviation, has been a reality in many places in the developing world. The poor in Sri Lanka typically have no access to financial services, due to lack of collateral and other social obstacles as part of supply side requirements. As a sustainable, community-driven method for empowering the poor, Coop Bank microfinance operation has helped more than 14,000 poor women to expand small businesses and stabilize their household cash flow in the most deprived areas of the Colombo district. Our target client base is economically active poor people who are living in urban shanties and people who are living in rural areas. Also Coop Bank’s diversified financial and Non financial services product menu has been serving their clients to defeat the economic and social shocks of the life cycle, emergencies and seasonal events.

Since its launch, the Coop Bank has established 12 branches while introducing a number of savings and loan products in order to meet the needs of the said target group. Coop Bank already granted more than Rupees 520 million micro loans to 14,258 clients and the savings portfolio has been increased up to Rs  240 million.

Geographical Coverage Colombo District
Head Office Address No. 615- Avissawella Rd, Mulleriyawa -New Town
Telephone +94 11 2569806
Fax +94 11 2157100
Key Contact Person Mr. Palitha Perera
Designation Chief Executive Officer (Microfinance Division)
Telephone/Mobile +94 718942291