MBSL Savings Bank (subsidiary of Merchant Bank of Sri Lanka which is a subsidiary of Bank of Ceylon, the largest state owned Commercial Bank in the country), is a Licensed Specialized Bank (LSB), registered under Central Bank of Sri Lanka.The bank was incorporated on 14th August 1996 under the provisions of Companies Act No 17 of 1982, and is a Licensed Specialized Bank under the provisions of Banking Act No 30 of 1988 and the Banking (amendment) Acts No 33 of 1995, No 2 of 2005, and No 46 of 2006. The Bank commenced business activities upon registration as a LSB with the approval of the Monetary Board of Central Bank of Sri Lanka in May 2001.