Annual Report 2012 - National Savings Bank

142BRANCHING OUT INTO NEW VENTURESSUSTAINABILITY REVIEWand Compliance and Internal Auditactivities. Our Subsidiary is theNSB Fund Management Co. Ltd,which is located at the organisation’sheadquarters.Location of Organisation’sHeadquartersThe location is stated in the CorporateInformation sectionNature of Ownership and LegalFormNature of ownership and legal formis stated in the Corporate Informationsection.Countries in which NSB OperatesIn addition to domestic activities, whichextends through a network of 641 PostOfces and 3,412 Sub-Post Ofces and219 NSB branches, NSB is active inForeign Currency remitting activitiesin most Middle East countries, toserve the needs of Sri Lanka’s migrantworker community. Sri Lankans inItaly, Germany, UK, USA, Australia,Switzerland, France, Ireland, Sweden,“As a public bank, webelieve the provision ofhousing is a key elementfor the uplifting of thequality of life of thepeople of Sri Lanka.”Netherlands, Russia, and the Asiancountries of Hong Kong, Malaysia andthe Korea Republic get the facility ofremitting money through NSB.Markets ServedNSB serves a diverse range of marketsthrough a comprehensive range ofnancial products designed to meetthe requirements of these differentmarket segments. Our main productsare deposits and retail lending products,which are offered to a diverse, islandwide customer base.Accepting DepositsWe have number of products in the formof savings and time deposits. We offera range of products under the abovesectors based on interest rate, age, genderand maturity period. These deposits areaccompanied by ATM cards, debit cards,the easy card, internet banking and SMSbanking, for customer convenience.Retail Lending OperationsWe provide four main types of loansunder the retail lending category ashousing loans, pawning, personal loansand auto loans.Our retail lending operations are mainlyinvolved with the provision of housingloan facilities. As a public bank, we believethe provision of housing is a key elementfor the upliftment of the quality of life ofthe people of Sri Lanka. Therefore, weare proud to be involved in the provisionof affordable housing loans that enableshelter for the people. We facilitategovernment assisted housing loanschemes for government employees.Pawning advances are granted at alower interest rate. However, the Bankpays a comparatively higher rate persovereign than the other banks.NATIONAL SAVINGS BANK . ANNUAL REPORT 2012