Comprehensive List of Banks in Sri Lanka

Sri Lanka’s banking sector is a vital pillar of its economy, supporting individuals, businesses, and government initiatives with a wide range of financial services. From state-owned giants to private commercial banks and specialized institutions, the banking landscape in Sri Lanka is diverse and dynamic. Regulated by the Central Bank of Sri Lanka (CBSL), these institutions ensure financial stability and economic growth. In this detailed guide, we explore the list of banks in Sri Lanka, including the top 10 banks, private and government banks, licensed commercial and specialized banks, and more to provide you with a complete overview.

What Are the Banks in Sri Lanka?

The banking sector in Sri Lanka comprises Licensed Commercial Banks (LCBs), Licensed Specialized Banks (LSBs), and other financial institutions, all overseen by the Central Bank of Sri Lanka. As of March 2025, the sector includes a mix of government-owned, private, and foreign banks, each offering tailored services such as retail banking, corporate banking, Islamic banking, and development financing. Whether you’re a local resident, a business owner, or an expatriate, understanding the banking options available is crucial for making informed financial decisions.

How Many Banks Are in Sri Lanka?

As of 2025, Sri Lanka is home to 24 Licensed Commercial Banks and 7 Licensed Specialized Banks, according to the Central Bank of Sri Lanka. These numbers reflect the dynamic financial ecosystem that supports the country’s growing economy. Additionally, there are several licensed finance companies, but this article focuses primarily on banks. The total number of banking institutions ensures a competitive market, offering diverse services to meet various financial needs.

Central Bank of Sri Lanka: The Regulatory Backbone

The Central Bank of Sri Lanka (CBSL), located at P.O. Box 590, 30 Janadhipathi Mawatha, Colombo 01, is the apex financial authority in the country. Established to regulate monetary policy and ensure financial stability, the CBSL oversees all banks and financial institutions, ensuring compliance with strict guidelines. Contact details for the CBSL include:

• Telephone: +94 112 477000, +94 112 440330, +94 112 330220

• Address: 30, Janadhipathi Mawatha, Colombo 01, Sri Lanka

The CBSL plays a critical role in maintaining consumer confidence, promoting transparency, and fostering economic growth through measures like lowering policy rates to encourage lending.

Top 10 Banks in Sri Lanka

The top 10 banks in Sri Lanka are recognized for their market presence, financial performance, and service offerings. Below is a list of the leading banks based on metrics like Return on Assets (ROA), Return on Equity (ROE), and branch networks, as of 2025:

1. Bank of Ceylon (BOC)

   • Type: Government-owned

   • Established: 1939

   • Details: As the oldest bank in Sri Lanka, BOC is a cornerstone of the nation’s banking sector with a vast network of branches. It offers personal banking, corporate banking, and investment services, maintaining strong operational efficiency.

   • Address: 4, Bank of Ceylon Mawatha, Colombo 01

   • Telephone: +94 112 446790–811

2. Commercial Bank of Ceylon PLC

   • Type: Private

   • Details: One of the largest private banks, it has 266 branches and 830 ATMs, with operations in Bangladesh, Maldives, and Myanmar. Ranked No. 2 among Sri Lanka’s Top 100 listed companies in 2023, it is known for innovative products.

   • Address: “Commercial House,” No. 21, Bristol Street, Colombo 01

   • Telephone: +94 112 445010–5

3. Hatton National Bank PLC (HNB)

   • Type: Private

   • Details: With 251 branches, HNB is a premier private bank, recognized as the “Best Retail Bank in Sri Lanka” by Asian Banker Magazine (2007–2017). It excels in retail, corporate, and international banking.

   • Address: Level 17, HNB Towers, 479 T B Jayah Mawatha, Colombo 10

4. People’s Bank

   • Type: Government-owned

   • Established: 1961

   • Details: The second-largest commercial bank in Sri Lanka, it is a trendsetter in private banking with a strong digital presence.

   • Address: No. 75, Sir Chittampalam A. Gardiner Mawatha, Colombo 02

5. Sampath Bank PLC

   • Type: Private

   • Details: Known for its customer-centric services and digital banking platforms, Sampath Bank is a major player in retail and corporate banking.

   • Address: No. 110, Sir James Peiris Mawatha, Colombo 02

6. Nations Trust Bank PLC (NTB)

   • Type: Private

   • Details: With 93 branches and 138 ATMs, NTB is the issuer and sole acquirer for American Express Credit Cards in Sri Lanka.

   • Address: 76, York Street, Colombo 01

7. DFCC Bank

   • Type: Private

   • Details: Originally a development finance institution, DFCC became a licensed commercial bank in 2015, offering a mix of development and commercial banking services.

   • Address: 40, Navam Mawatha, Colombo 02

8. Amana Bank PLC

   • Type: Private

   • Established: 2011

   • Details: Sri Lanka’s first Islamic bank, offering Sharia-compliant financial products.

   • Address: 480, Galle Road, Colombo 03

9. Seylan Bank PLC

   • Type: Private

   • Details: A leading private bank with a focus on retail and corporate banking, known for its innovative financial solutions.

   • Address: Ceylinco Seylan Towers, No. 90, Galle Road, Colombo 03

10. Cargills Bank Limited

    • Type: Private

    • Established: 2014

    • Details: A relatively new player with 17 branches, focusing on domestic and offshore banking.

    • Address: 696, Galle Road, Colombo 03

These banks dominate the financial landscape due to their extensive networks, innovative services, and strong financial metrics.

Sri Lanka Private Bank List

Private banks in Sri Lanka are known for their innovation, customer-centric services, and extensive digital platforms. Below is a comprehensive list of major private banks:

• Commercial Bank of Ceylon PLC: 266 branches, 830 ATMs, operations in Bangladesh, Maldives, and Myanmar.

• Hatton National Bank PLC: 251 branches, recognized globally for retail banking excellence.

• Sampath Bank PLC: Known for digital banking and customer-focused services.

• Nations Trust Bank PLC: 93 branches, exclusive issuer of American Express cards.

• DFCC Bank: Offers both commercial and development banking services.

• Amana Bank PLC: Sri Lanka’s first Islamic bank, focusing on Sharia-compliant products.

• Seylan Bank PLC: Strong in retail and corporate banking.

• Cargills Bank Limited: 17 branches, focusing on domestic and offshore banking.

• Pan Asia Banking Corporation PLC: 85 branches, listed on the Colombo Stock Exchange.

• Union Bank of Colombo PLC: Offers corporate lending and wealth management.

• Foreign Banks: Includes Axis Bank, HSBC, ICICI Bank, Indian Bank, Indian Overseas Bank, MCB Bank, Standard Chartered Bank, Citi Bank, Deutsche Bank, and Habib Bank Limited.

These private banks cater to diverse needs, from personal finance to international trade.

Sri Lanka Government Bank List

Government-owned banks play a significant role in Sri Lanka’s economy, focusing on accessibility and development financing. The following are the major government banks:

• Bank of Ceylon (BOC): The oldest and largest government bank with a vast branch network.

• People’s Bank: Second-largest commercial bank, established in 1961, known for its cultural identity and state-of-the-art technology.

• National Savings Bank (NSB): Focuses on savings and retail banking.

  • Address: 255, Galle Road, Colombo 03

• State Mortgage and Investment Bank: Specializes in housing and investment finance.

  • Address: Sir Chittampalam A. Gardiner Mawatha, Colombo 02

• Regional Development Bank (RDB): Supports regional economic development.

  • Address: 12th Floor, Access Tower, No. 278, Union Place, Colombo 02

• Lankaputhra Development Bank: Focuses on development financing.

  • Address: 34, Maitland Crescent, Colombo 07

• Housing Development Finance Corporation Bank (HDFC): Specializes in housing finance.

  • Address: Sir Chittampalam A. Gardiner Mawatha, Colombo 02

How Many Government Banks in Sri Lanka?

There are six government-owned banks in Sri Lanka, as listed above. These institutions are critical for providing accessible financial services and supporting national development initiatives.

Licensed Commercial Banks in Sri Lanka

As of March 31, 2025, there are 24 Licensed Commercial Banks (LCBs) in Sri Lanka, regulated by the CBSL. These banks provide a wide range of services, including retail banking, corporate lending, and international trade financing. The full list includes:

1. Amana Bank PLC

2. Axis Bank Limited

3. Bank of Ceylon

4. Cargills Bank Limited

5. Citi Bank, N.A

6. Commercial Bank of Ceylon PLC

7. Deutsche Bank AG

8. DFCC Bank

9. Habib Bank Limited

10. Hatton National Bank PLC

11. HSBC

12. ICICI Bank Ltd

13. Indian Bank

14. Indian Overseas Bank

15. MCB Bank Ltd

16. National Development Bank PLC

17. Nations Trust Bank PLC

18. Pan Asia Banking Corporation PLC

19. People’s Bank

20. Public Bank Berhad

21. Sampath Bank PLC

22. Seylan Bank PLC

23. Standard Chartered Bank

24. Union Bank of Colombo PLC

These banks are pivotal in providing liquidity and managing financial risks in the economy.

Licensed Specialized Banks in Sri Lanka

Licensed Specialized Banks (LSBs) focus on specific financial services, such as housing finance, savings, and development projects. As of 2025, there are 7 LSBs in Sri Lanka:

1. National Savings Bank (NSB): Promotes savings and retail banking.

2. State Mortgage and Investment Bank: Focuses on housing and investment loans.

3. Regional Development Bank (RDB): Supports regional economic growth.

4. Lankaputhra Development Bank: Development financing for small and medium enterprises.

5. Housing Development Finance Corporation Bank (HDFC): Specializes in housing finance.

6. SANASA Development Bank: Supports cooperative and community-based banking.

7. Sri Lanka Savings Bank Ltd.: Focuses on savings and small-scale financing.

These banks cater to niche markets, supporting Sri Lanka’s economic development.

Key Features of Sri Lanka’s Banking Sector

Sri Lanka’s banking sector is characterized by:

• Diverse Offerings: From Sharia-compliant products (Amana Bank) to development financing (DFCC, RDB), banks cater to varied needs.

• Digital Transformation: Banks like Sampath and Commercial Bank lead in digital banking, offering secure online platforms.

• Global Presence: Commercial Bank and HNB have international operations, while foreign banks like HSBC and Standard Chartered enhance global connectivity.

• Regulatory Oversight: The CBSL ensures stability through strict guidelines and monetary policy adjustments.

• Economic Support: Recent CBSL measures, like lowering policy rates, aim to boost lending and stimulate growth.

Challenges and Opportunities in Sri Lanka’s Banking Sector

The banking sector faces challenges like economic fluctuations and regulatory compliance but is adapting through innovation and digitalization. For freelancers and remote workers, platforms like Elevate Pay offer solutions for managing USD income, with easy account setup and tailored services for emerging markets. Download the Elevate Pay app on iOS or Android for seamless financial transactions.

Conclusion

Sri Lanka’s banking sector is a robust and evolving ecosystem, with 24 Licensed Commercial Banks and 7 Licensed Specialized Banks serving diverse financial needs. From the historic Bank of Ceylon to innovative private players like Commercial Bank and Hatton National Bank, the sector supports economic growth under the vigilant oversight of the Central Bank of Sri Lanka. Whether you’re seeking personal banking, corporate solutions, or Sharia-compliant services, this comprehensive list of banks in Sri Lanka provides all the information you need to choose the right financial partner.

For more details on specific banks or services, visit their official websites or contact them directly using the provided details. Stay informed and make the most of Sri Lanka’s dynamic banking landscape!