The State Mortgage & Investment Bank being one of the oldest banks of the nation was inaugurated as the Ceylon State Mortgage Bank (CSMB) on 6th December 1931 by Ordinance No. 16 of 1931. State Mortgage & Investment Bank formed by the State Mortgage & Investment Bank Law No. 13 of 1975, amalgamating the Ceylon State Mortgage Bank and the Agricultural and Industrial Credit Corporation, established in 1943. The Bank commenced its operation on 1st January 1979. The Bank was recognized as a licensed specialized bank and the license was issued by the Central Bank of Sri Lanka on 27th April 1998 in terms of the Banking Act No. 30 of 1998. Since then, deviating from the former lines of business, while paying much attention to the housing needs of the country, the Bank throughout its over seventy-five years of service, has evolved to become the Housing Bank to the Nation. With the expansion of the Banks activities, the Bank strengthened its resource base by venturing in to various other products. Thus in 1991, the Bank started accepting deposits. During the same year District Representatives were appointed from various districts to assist customers and to act as intermediaries between the Bank and the customers in promoting credit facilities. In October 2001, Pass-Book Savings product was introduced. After the 1990's the Bank extended its services by opening new branches in main districts and in 2007 bank expanded its reach by opening extension offices in key locations. By spreading its services through District Offices and facing the challenges and competition of the banking world the Bank has been able to maintain its position as the Housing Bank to the Nation. Branch Network http://www.smib.lk/branch-network