31 January 2025, Amsterdam, Netherlands – The Global Alliance for Banking on Values welcomes a new member, Sarvodaya Development Finance (SDF), in Sri Lanka. As the financial services arm of the Sarvodaya Shramadana Movement and Sri Lanka’s oldest development finance institution, SDF has long prioritised community empowerment, equitable growth, and sustainability. Its values-driven approach aligns with GABV’s mission to transform the banking system to better support economic, social, and environmental well-being.

An Example of Ethical Finance in Action

SDF’s financial results for the first half of 2024/25 highlight the success of its values-driven model. The company reported a net profit of Rs. 215.7 million, nearly triple that of the previous year, demonstrating that values-based banking can deliver both social impact and financial resilience. Gross income grew steadily, while interest income saw a notable rise, supported by reduced interest expenses. Total assets expanded, driven by higher deposits and borrowings, and the company’s efficiency ratio improved considerably. This strong financial performance reflects SDF’s commitment to equitable financial solutions, securing both local and international funding to support its mission of financial inclusion and sustainable development.

Strengthening the Values-Based Banking Movement

Joining GABV opens new opportunities for collaboration, knowledge-sharing, and innovation in values-based banking. SDF CEO, Nilantha Jayanetti, expressed optimism about this milestone:

“As an impact-driven development finance company, our strategy remains focused on growth and sustainable development. With improving financial stability in Sri Lanka, we are committed to enhancing our contributions to the village economy. Now, as a full member of GABV, we look forward to working with like-minded financial institutions to bring accessible financial services to grassroots communities.”

GABV’s Executive Director, Martin Rohner, also welcomed SDF into the network, highlighting its dedication to financial inclusion and sustainability:

“We are delighted to welcome Sarvodaya Development Finance (SDF) as a full member of the Global Alliance for Banking on Values. SDF’s remarkable commitment to financial inclusion, sustainable development, and community empowerment in Sri Lanka exemplifies the values-driven approach that our network stands for. SDF’s impressive financial performance demonstrates how a clear focus on people and planet also drives financial resilience. I look forward to a fruitful collaboration and partnership with SDF.”

About the GABV

The Global Alliance for Banking on Values (GABV) is a network of independent banks and banking cooperatives with a shared mission to use finance to deliver sustainable economic, social, and environmental development. Founded in 2009, the GABV comprises 70 financial institutions operating in over 40 countries across Asia-Pacific, Africa, Latin America, North America and Europe. It serves more than 50 million customers collectively, holds over USD 265 billion of combined assets under management and employs 80,000 co-workers.

Meet the banks of the network and the countries where they operate: www.gabv.org/members