People’s Bank, one of Sri Lanka’s leading state-owned commercial banks, marks World Thrift Day on 31 October, reaffirming its commitment to promoting financial discipline, strengthening household financial security and supporting the country’s economic development. Through a diverse portfolio of savings products and innovative digital banking solutions, the Bank continues to empower Sri Lankans to manage their finances effectively and plan for a secure future.
Established in 1924 at the first International Savings Bank Congress held in Milan, Italy, World Thrift Day highlights the importance of prudent financial management and developing sound saving habits. For People’s Bank, this mission has remained central to its operations throughout its 65-year history, with products and services designed to meet the changing needs of customers at every stage of life.
Commenting on the occasion, A.U.A. Anzar, Deputy General Manager – Retail Banking at People’s Bank, said:
‘Over the past 65 years, People’s Bank has introduced a wide range of financial products to help Sri Lankans build financial security and achieve their future aspirations. Recognizing that financial needs differ at every stage of life, we continuously develop customer-focused solutions that combine the reliability of traditional banking with the convenience of modern technology.
‘Digital transformation is an important part of this commitment. Through platforms such as People’s Wave and People’s Pay, customers can access a range of banking services anytime, anywhere, making every day financial transactions more convenient and efficient. By combining responsible financial habits with innovative banking solutions, we aim to empower individuals and families while contributing to Sri Lanka’s sustainable economic development,’ he added.
People’s Bank offers specialized savings accounts for customers across different age groups and life stages. The Isuru Udana account, introduced in 1998, caters to children below six years of age, while the Sisu Udana account, introduced in 1996, encourages schoolchildren aged six to 18 to develop financial discipline from an early age.
Beyond promoting financial responsibility, the Bank recognizes academic excellence by rewarding students who pass the Grade 5 Scholarship Examination and those who achieve first, second and third island ranks across all six streams at the G.C.E. Advanced Level Examination.
The YES Account supports young people in building financial independence, offering attractive interest rates and benefits, together with access to financing for higher education. For women, the Vanitha Vasana Account and Vanitha Vasana Money Planner Investment Plan provide facilities to strengthen financial independence and encourage systematic financial planning.
The Parinatha Senior Citizen Account caters to the needs of older customers through attractive interest rates and access to low-interest loan schemes.
Meanwhile, the Ethera Isura Personal Foreign Currency Account enables eligible Sri Lankans to maintain savings or fixed deposits in 14 approved foreign currencies. The Ethera Udana Minors Foreign Account also allows parents living overseas to build a financial foundation for their children’s education and future needs.
Complementing these products, People’s Bank continues to expand its digital banking infrastructure to enhance customer convenience. Its network of more than 300 self-banking units provides access to essential banking transactions 24 hours a day, 365 days a year.
The People’s Wave Mobile Banking App enables customers to conduct banking transactions through their mobile phones, while the People’s Pay digital wallet offers services including fund transfers, credit card payments, mobile reloads and LankaQR payments. These platforms help customers manage their finances efficiently while reducing the need for routine branch visits.
On World Thrift Day, People’s Bank encourages Sri Lankans to make regular saving and responsible money management an integral part of their lives. By setting aside funds consistently and making informed financial decisions, individuals and families can prepare for unexpected expenses, pursue their aspirations and build long-term financial resilience.
Through its comprehensive savings portfolio, accessible banking services and continued digital innovation, People’s Bank remains committed to fostering financial inclusion and helping to build a more financially secure and prosperous Sri Lanka.