BOC launches Agri Banking Unit: Financing roots of Lanka’s future

Reinforcing its commitment as ‘Bankers to the Nation’, Bank of Ceylon (BOC) has launched the BOC Agri Banking Unit, first of its kind to drive sustainable growth and innovation in Sri Lanka’s agriculture sector.

This specialised platform is designed to strengthen financial support to the agribusiness sector whilepromoting modern, sustainable and technology driven agricultural development.

Sri Lanka has historically been recognised as an agricultural nation, engaged in farming and related activities. With a proud banking history spanning more than eight decades, Bank of Ceylon has consistently supported this community through a wide range of financial and advisory services.

The launch of the BOC Agri Banking Unit represents a strategic step forward in re-affirming and expanding thatcommitment, by introducing specialized financial solutions and sector-focused expertise tailored to theneeds of modern agriculture.

The BOC Agri Banking Unit will focus on multiple segments within the agriculture sector, including crop cultivation,livestock development, fisheries, horticulture, agri-technology and smart agriculture. By supporting thesediverse agricultural sub-sectors, the bank intends to encourage modernization and innovation in agri-practices while ensuring better access to financial services.

The Agricultural Banking Unit was formally inaugurated recently at the Bank of Ceylon Head Office under the patronage of Chairman Kavinda De Zoysa and General Manager/Chief Executive Officer Y. A. Jayathilaka. The event was attended by members of the Bank’s senior management, marking a significant milestone in the bank’s mission to strengthen financial support for the agribusiness sector.

Chairman Kavinda De Zoysa highlighted the global potential of Sri Lankan agriculture: “Sri Lanka’s agriculture must evolve from traditional farming to a modern, technology-driven industry capable of competing in global markets. Through this Agricultural Banking Unit, we aim to empower farmers and agri-entrepreneurs with not only financial strength but also technology know-how and comprehensive solutions that enable them to scale up production add value and reach international markets,” he said.

A key focus of the unit will be the integration of modern technologies into farming practices. By facilitating access to precision agriculture tools, modern irrigation systems, mechanisation, digital monitoring technologies and advanced crop management techniques, the bank aims to significantly improve productivity, efficiency and sustainability within the sector.

The initiative also seeks to strengthen the agricultural value chain by encouraging small-scale farmers to transition from subsistence farming to commercially viable agricultural enterprises. The unit will actively support investments in value addition, agro-processing, post-harvest management and agri-tourism while facilitating financing under concessionary interest rates and flexible lending conditions.

General Manager/Chief Executive Officer Y.A. Jayathilaka explained that the establishment of the Agricultural Banking Unit is a long-overdue initiative aimed at supporting Sri Lanka’s agricultural development and strengthening the country’s agri ecosystem.

Source: Daily News