DFCC Bank was set up in 1955 as Sri Lanka's a pioneer development finance institution on the recommendation of the World Bank and is one of the oldest development banks in Asia.
In October 2015, DFCC Bank and its 99% owned subsidiary, DFCC Vardhana Bank amalgamated. DFCC Bank is now a Licensed Commercial Bank offering a range of development banking and commercial banking products and services.
In May 2025, Bank received $12m Swiss loan for green projects.