Online Banking

Milestone of DFCC Bank 1955 - 1982

1955

October - DFCC is founded by Act No. 35 of 1955.

1956

May- Commenced operations with LKR 8 million Share Capital.

1958

February - The DFCC Act is amended by Act No. 8 of 1958.

1967

March - The DFCC Act is amended by Act No. 1 of 1967.

1974

April - The DFCC Act is amended by Act No. 12 of 1974.

1977

January - Increased Paid-Up Capital to LKR 16 million.
March - ADFIAP was formed with DFCC as a founder member.

1979

November - Increased Paid-Up Capital to LKR 24 million.

1982

December - The DFCC Act is amended by Act No. 42 of 1982.

Milestone of DFCC Bank 1983 - 1992

1983

January - Bonus issue of 1 for 4 increased Paid-Up Capital to LKR 30 million.
February - Increased Paid-Up Capital to LKR 60 million.
March - Increased Paid-Up Capital to LKR 100 million.

1984

September - Finance Leasing was officially introduced.

1985

January - Medium-term Working Capital Financing was officially introduced.
September - An Insurance Agency business was also officially begun.

1986

May - The Head Office was inaugurated.

1988

August - The first branch was opened in Kandy.

1989

November - Short-term Working Capital Financing was officially introduced.

1991

August Bonus issue of 1 for 3 increased Paid-Up Capital to LKR 133 million. October - Public Issue at 5 times par increased number of shareholders from 826 to 12,320 and Paid-Up Share Capital increased to LKR 170 million. December - NAMAL was officially founded.

1992

February - Lanka Ventures Limited (LVL) was founded. March - Lanka Industrial Estates Limited was founded.We achieved the highest PAT among all listed companies.

Milestone of DFCC Bank 1993 - 2001

1993

April -ADFIAP’s Annual sessions began being hosted. June - The DFCC Act was amended by Act No. 25 of 1993 for Share Split. August - Reached No. 1 position in Market Capitalisation. October - Rights Issue of 1 for 3 at par increased Paid-Up Capital to LKR 226.7 million.

1995

June - Bonus Issue of 1 for 3 increased Paid-Up Capital to LKR 302.2 million. July - Asia Money ranks DFCC as the Best Managed Company in Sri Lanka.

1996

April - DMG and DFCC sign Telecom mandate with GOSL.Fixed Deposit Mobilisation was introduced.Commissioned Sri Lanka’s first BOO Power Project, which was financed by DFCC.

1997

July -  Appointed as the Administrative Unit of the Energy Services Delivery Project which was funded by the World Bank. August - The DFCC Act was amended by Act No. 23 of 1997. September Acquired a 29.8% stake in Commercial Bank of Ceylon.

1998

April Bonus Issue of 1 for 6 increased Paid-Up Capital to LKR 352.6 million.

December FRN of USD 65 million guaranteed by ADB.Lead arranged the largest LKR syndicated loan for Sri Lanka Telecom (SLT).

1999

October Asia Money ranks DFCC as the Best Managed Company of the decade.

2000

March Structured and managed Sri Lanka’s first Rated Debenture Issue for Sri Lanka Telecom.

2001

January DFCC acquired ABN AMRO Securities (Pvt) Limited, and renamed the company to DFCC Stock Brokers (Pvt) Ltd.
April Bonus Issue of 1 for 5 increased Paid-Up Capital to LKR 423.1 million.

Milestone of DFCC Bank 2002 - 2010

2002

July DFCC was appointed as the Administrative Unit of the Renewable Energy for Rural Economic Development project, which was funded by the World Bank.

November Managed the IPO of Sri Lanka Telecom – the largest Offering on the Colombo Stock Exchange (CSE).

December Fitch Ratings Lanka Limited assigned the SLAA National Rating for Implied Long-Term Unsecured Senior Debt of DFCC Bank.

2003

August DFCC acquired 94.16% of MERC Bank.
October The recently acquired MERC Bank was renamed as DFCC Vardhana Bank.

2004

February Bonus Issue for 1 for 3 increased Paid-Up Capital to LKR 565.9 million. September DFCC Consulting was founded. AA Rating was affirmed.

2006

May Hosted ADFIAP’s Annual sessions. July Bonus Issue for 1 for 2 increased Paid-Up Capital to LKR 863.9 million.Issue of Debentures to the value of LKR 2 billion enhanced Regulatory Capital.

2007

June - Rights Issue 1 for 4 and Bonus Issue of 1 for 5 increased Paid-Up Capital to LKR 1,302 million.
September - AA (lka) Fitch Rating was affirmed.

2008

July - Acuity Partners (Pvt) Limited commenced commercial operations. October AA (lka) Fitch Rating was affirmed.

2009

September - AA (lka) Fitch Rating was affirmed.

2010

January - Divested LVL Shares to Acuity Partners (Pvt) Limited.
June - Commercial Bank of Ceylon ceased to be an Associate Company.
September - AA (lka) Fitch Rating was affirmed.
November - Bonus Issue of 1 for 1 increased Paid-Up Capital to LKR 2,648 million.

Milestone of DFCC Bank 2011 - 2015

2011

June - Shareholding in DFCC Vardhana Bank increased to 99.1%. September AA (lka) Fitch Rating was affirmed.

2013

March - Concluded an international loan syndication for USD 45 million. September AA (lka) Fitch Rating was affirmed.
October - Executed international note issuances worth 100 million USD.DFCC’s Annual Report won the Grand Award for the ‘Best of Sri Lanka’ at the 27th International ARC Awards – USA.

2014

April - Appointed by GOSL to administer the EUR 90 million Credit Line from the European investment Bank.
August - DFCC Bank issued its benchmark of LKR 5 billion in Senior, Unsecured and Redeemable Rated Debentures – the very first of its kind to be issued to a market bearing a single digit coupon rate.

2015

January - DFCC Bank converted to DFCC Bank PLC as a company incorporated under the Companies Act No. 07 of 2007.

October - DFCC Bank and DFCC Vardhana Bank were amalgamated on 01 October 2015 and the surviving entity is DFCC Bank PLC
October – DFCC Bank celebrated 60 years of prosperity in October 2015