August, 19, 2022
Sri Lanka’s premier private sector retail bank HNB PLC signed a Memorandum of Understanding (MoU) with next-gen collaborative cloud computing product developer Thinkcube Systems (Pvt) Ltd., to introduce the latter’s renowned ‘ezBiz’ enterprise resource planning (ERP) software to small and medium enterprises (SMEs).
HNB entered into this partnership with the objective of fulfilling the market gap of ERP solutions for the Bank’s lower level SME clientele, at an affordable rate.
“Businesses of all scales can operate seamlessly and focus more on growth over focusing on the day-to-day operations, when they are equipped with the right technology. This is very evident with SMEs that are at the very early stages of the business, or if they are manually operating at full capacity. This is what we aim to disrupt through this partnership, and Thinkcube System’s ‘ezBiz’ ERP solution is the perfect tool, which our potential and existing SME customers can utilize at special/concessionary rates,” commented HNB Mr. Niluka Amarasinghe (Head of SME Products and Partnerships).
The ‘ezBiz’ solution is an integrated cloud business application which caters the vital requirements of businesses, while ensuring a user-friendly experience with ease of access to their business data anytime, from anywhere.
Aspiring SME customers may see this as the perfect opportunity to take their business to the next level, being enabled with cloud-based capabilities including Purchasing, Point of Sale (POS), Accounting, Inventory, Jobs, Sales and Customer Relationship Management (CRM).
“Our ERP solution can be seen as a very successful tool used by a magnitude of SMEs, including mobile shops, pharmacies, hardware stores, bookshops, cosmetic shops, restaurants, clothing stores and mini marts. We envision our home-grown ‘ezBiz’ solution becoming a household name, and found a great opportunity to accommodate a much larger scope of SME customers through this partnership with HNB,” said Thinkcube Systems (Pvt) Ltd Mr. Damitha Kariyawasam (Director- ThinkCube Solutions (Pvt) Ltd).
HNB will be working together with Thinkcube Systems, sharing internal human resources to make initial introductions and facilitate potential customers with the fully-fledged ERP solution. The Solution enables the SMEs to extract vital MIS on their business in a convenient manner which would help them to use them effectively when they seek credit facilities from Financial institutions.
Under the MoU, HNB will play a key role in sourcing potential SMEs to uplift their operating standards, while Thinkcube Systems (Pvt) Ltd will ensure the proper functioning of the ERP platform, services and aftersales services.
Photo caption: HNB Deputy General Manager- Retail and SME Banking, Sanjay Wijemanne (fourth from left) exchanging the MoU with Thinkcube Solutions Chairman, Alexis Lovell (fifth from left) with (from left) HNB Undergraduate Trainee, Nethmini Morawaggoda, HNB Head of SME Products and Partnerships, Niluka Amarasinghe, and HNB Assistant General Manager, SME K. Indravasan, Thinkcube Solutions Director, Irishad Ally, Thinkcube Solutions Director, Damitha Kariyawasam, Thinkcube Solutions Group Finance Controller, Chandima Dilrukshi and Thinkcube Solutions Assistant Manager Human Resources, Nipuni Perera.
August, 16, 2022
Cementing its reputation as Sri Lanka’s most versatile payment partner, leading private sector bank HNB PLC was recognized by Daraz, South Asia’s largest e-commerce platform, for its commitment to enhancing digital payment solutions.
The Bank was awarded for the card base with the best all-round growth at the annual Daraz Payment Partner Performance Awards 2022 held recently. Ranked among the best banking partners, HNB recorded the best all-round growth in payment volume, buyer engagement and total transaction for its credit and debit card bases for 2021- 2022.
“Since the onset of the pandemic in 2020, the conversion to digital payments and the usage of e-commerce platforms for purchases was fast-tracked exponentially. Over the past two years, we have adapted to these new market conditions and have worked to ensure HNB customers have convenient and flexible options for their payments on any platform they wish to transact in. This award by Daraz is a recognition of our hard work and commitment to our customers and partners,” HNB Head of Cards Gauthami Niranjan said.
Notably, HNB was also recognized last year as the payment partner with the highest overall growth by Daraz at their payment partner performance awards.
Moreover, HNB cardholders enjoy multiple benefits on Daraz, including zero-interest instalments plans of up to 24 months with attractive discounts for HNB credit - cards. Customers are also eligible for 10% off on purchases on the e-commerce platform on Saturdays. Additionally, the Bank also partners with Daraz to offer users massive discounts on special occasions such as Avurudu, Black Friday Sales, 11:11 and 12.12.
Most recently, HNB sealed its reputation as Sri Lanka’s undisputed leader in retail banking, having been crowned as the Best Retail Bank in Sri Lanka for the 12th occasion at the prestigious International Excellence in Retail Financial Services Awards 2022 hosted by the Asian Banker Magazine.
HNB is also among Sri Lanka’s most awarded banks, having been being ranked among the Banker Magazine’s Top 1,000 Global Banks for six consecutive years, as well as being adjudged Best Retail and SME Bank at the International Finance Awards 2021 and being ranked among Sri Lanka’s Most Admired Companies for the 4th consecutive year.
Photo Caption: HNB Head of Cards – Gauthami Niranjan ( 3rd from left) receives the award from Daraz Managing Director Rakhil Fernando in the presence of (from left) HNB Cards Business Development Associate - Nimanthaka Dodanthenna, HNB Cards Business Development Executive – Roshan Chaminda Perera and Daraz Head of Payments & Partnerships Dulika Jayamanne.
August, 15, 2022
HNB Group recorded a Profit Before Tax of Rs 6.7 Bn and a Profit After Tax of Rs 6.1 Bn during the first six months of 2022 amid extremely challenging operating environment.
The gross income of the Bank grew by 71% YoY to Rs 97.1 Bn driven by a 53% growth in interest income, 61% growth in fee income and 349% growth in exchange income. The exceptional growth in net interest income from Rs 23.2 Bn to Rs 40.2 Bn was primarily due to the increase in average AWPLR by approximately 16 percentage points in line with the tight monetary policy adopted by the Central Bank of Sri Lanka.
The Fee income also recorded a steady growth increasing to Rs 7.3 Bn for the 6 months mainly on account of improved trade and card income. The total exchange income improved to Rs 15.3 Bn from Rs 3.4 Bn during the first half of 2021, as the rupee depreciated by over 80% during the period. Accordingly, the total operating income improved to Rs 63.3 Bn recording a 100% YoY growth.
The Bank made a total impairment of Rs 40.1 Bn for the first six months of the year compared to a charge of Rs 6.3 Bn in the previous year. The total impairment charge for the period included an impairment of Rs 27.3 Bn on account of the foreign currency denominated government securities held by the Bank pursuant to the suspension of external debt repayment by the Government of Sri Lanka and the
sovereign downgrade. Considering the volatilities and the economic factors, the Bank recognized an impairment of Rs 22.7 Bn on account of loans and advances for 1H 2022 compared to the provision of Rs 6.1 Bn made in the corresponding period of 2021. An amount totaling to Rs 10.8Bn relating to the exchange impact on impairment of foreign currency loans and investments was set off against the exchange income for the period. The net stage III ratio of the Bank improved to 2.46% from 2.55% as at end of December 2021 while the provision coverage on stage III loans improved from 56% to 63% maintaining the position as one of the best in terms of asset quality among peers.
The operating expenses for the 1H of 2022, increased by 26% to Rs 14.9 Bn mainly due to devaluation of the currency, higher energy costs and increase in staff expenses subsequent to salary revisions effected at the beginning of the year. Nevertheless, the cost to income ratio of the Bank improved by approximately 14 percentage points to 23.5% as total operating income recorded a higher growth during the period.
The Bank recorded a Profit Before Tax of Rs 6.0 Bn and Profit After Tax of Rs 5.5 Bn for the six months ended June 2022 compared Rs 10.9 Bn and Rs 9.1 Bn in the corresponding period of 2021.
The Bank’s asset base expanded by Rs 239 Bn to Rs 1.6 Trillion during the first six months, with loans and advances growing by Rs 138 Bn to Rs 1.1 Trillion. Total Deposits of the Bank grew to Rs 1.3 Trillion by Rs 217 Bn during 1H 2022. The balance sheet growth was party supported by the devaluation of the rupee during the period.
The Bank reported Tier I and Total Capital Adequacy Ratios of 11.39% and 14.54% respectively against the minimum requirement of 9.5% and 13.5% respectively. The Central Bank also permitted licensed commercial banks to drawdown up to 250 bps on the capital conservation buffer lowering the requirement to 7% and 11% respectively. Furthermore, the Bank’s liquidity position continued to be
strong with liquid asset ratio and all currency liquidity coverage ratio at 23.9% and 210.3%, against the statutory requirements of 20% and 90%, respectively.
Under extremely stressful market conditions all group companies contributed positively towards the first half performance of the Group.
HNB was ranked among the Top 1,000 Banks in the World for the sixth consecutive years by the acclaimed UK based ‘The Banker Magazine’ while being adjudged the ‘Best Retail Bank in Sri Lanka’ by the Asian Banker Magazine for the 12th time.
August, 8, 2022
Cementing its reputation as one of the world’s most successful banks, HNB PLC, was ranked among the Top 1,000 World Banks for the sixth consecutive year by the prestigious Banker Magazine.
Based in the United Kingdom, The Banker Magazine is a premier global banking and finance resource, renowned for its global financial intelligence since 1926. The Banker’s Top 1000 World Banks ranking has set industry benchmarks since 1970, providing comprehensive intelligence about the health and wealth of the global banking sector.
Sharing his thoughts on the eminent recognition, HNB Managing Director/CEO, Jonathan Alles stated: “The recent economic shocks have thrown governments and financial bodies across the globe into the deep end forcing them to navigate new challenges. Moreover, given the ongoing economic crisis in Sri Lanka, these challenges have relentlessly tested the mettle of local financial institutions. To have HNB ranked among the Top 1,000 global banks against this backdrop is indeed a testament to our strength and stability, and further validates our efforts in supporting customers and the nation to revive and rebuild.”
Most recently, HNB sealed its reputation as Sri Lanka’s undisputed leader in retail banking, having been crowned as the Best Retail Bank in Sri Lanka for the 12th occasion at the prestigious International Excellence in Retail Financial Services Awards 2022 hosted by the Asian Banker Magazine.
Showing excellence and resilience in the face of crises, the bank has continued to progress on its ambitious journey in providing digitally-enabled products and services that provide customers with convenient, comprehensive and secure options to transact remotely. Notably, during the current year, the bank was awarded the ‘Best IoT Initiative’ at the Asian Digital Finance Forum and Awards for successfully implementing the HNB Fit banking product by the Asian FinTech Academy (AFTA).
HNB is also among Sri Lanka’s most awarded banks, having been ranked among the Banker Magazine’s Top 1,000 Global Banks for six consecutive years, as well as being adjudged Best Retail and SME Bank at the International Finance Awards 2021 and being ranked among Sri Lanka’s Most Admired Companies for the 4th consecutive year.
The digitally-savvy bank further consolidated its position at the LankaPay Technnovation Awards 2022, where it bagged four top awards. HNB was awarded the prestigious Bank of the Year for Financial Inclusivity and Bank of the Year for Excellence in Customer Convenience titles, in addition to being presented with the Silver award for ‘Financial Institution of the Year for Best Digital Payment Strategy’ and Bronze for ‘Overall Award - Excellence in Interbank Digital Payments’ (Banking Institutions) this year.
Additionally, having already linked LANKA QR to its digital payment app HNB SOLO, the bank has also started establishing key relationships with key corporates in Sri Lanka, including the hospitality and medical sector, by enabling them to adapt to QR-based contactless, cashless payments.
August, 2, 2022
Connecting local SMEs to new e-commerce markets and buyers, Sri Lanka’s most digitally innovative bank, HNB PLC, partnered with SLT-MOBITEL to offer SMEs free access to the new online trading platform Cochchi.lk.
The partnership between the two industry giants will provide HNB SMEs additional benefits when onboarding to the new e-commerce platform. HNB Deputy general Manager- Retail & SME Banking, Sanjay Wijemanne, HNB Assistant General Manager- SME, Kailaivasan Indravasan, HNB Head of SME Products & Partnerships, Niluka Amarasinghe, and SLT Chief Information and Digital Officer, Tilak Gamlath, SLT General Manager- Digital Transformation Projects, Ishari Siriwardane, SLT Deputy General Manager Digital Projects, Dinesh Perera and SLT Senior Manager (Marketing)-SME Product Development, Lalwin De Zoysa were present at a special ceremony held to commemorate the partnership.
HNB Assistant General Manager- SME, Kailaivasan Indravasan said: “Given the current economic crisis, there is no doubt that we as Sri Lankans have to look at new avenues and opportunities to revive our economy. Our focus on improving our exports and identifying new markets for our SMEs, who have always been the backbone of our economy, will generate new sources of cash flow that we desperately need. As a bank that has always worked with SMEs, we believe that facilitating their transition online is essential. As such, we are delighted to partner with SLT-MOBITEL to provide our SME customers with this opportunity.”
The partnership will offer HNB customers various benefits such as free advertising space, exclusion from initiation and subscription fees, and the ability to purchase extra value-added services. Moreover, the platform will provide customers with a wide variety of products spanning over 500 categories, including a separate “Made in Sri Lanka” category for locally manufactured products.
The proposed E-commerce platform will be hosted in Data Centre of SLT-MOBITEL in a cloud environment. Furthermore, the platform will enable SME and Enterprise customers to create their online stores and e-shops while offering the users (end customers and storeowners), a flexible, feature-rich e- commerce platform that addresses a wide range of e-business needs.
SLT Chief Information and Digital Officer, Tilak Gamlath said: “SMEs have always been the lifeblood of the Sri Lankan economy, and we are working towards enhancing their e-commerce capabilities to enter global markets. We are honoured to partner with HNB who has a long history of working with and creating successful Sri Lankan SMEs.”
Most recently, HNB sealed its reputation as Sri Lanka’s undisputed leader in retail banking, having been crowned as the Best Retail Bank in Sri Lanka for the 12th occasion at the prestigious International Excellence in Retail Financial Services Awards 2022 hosted by the Asian Banker Magazine.
The bank’s dedicated fitness related product, HNB FIT, was crowned the ‘Best IoT initiative’ at the Asian Digital Finance Forum and Awards. Hosted by the Asian FinTech Academy (AFTA), the forum recognised and awarded organisations and impactful individuals who drive innovation in the digital sphere.
The digitally-savvy bank further consolidated its position at the LankaPay Technnovation Awards 2022, where it bagged four top awards. HNB was awarded the prestigious Bank of the Year for Financial Inclusivity and Bank of the Year for Excellence in Customer Convenience titles, in addition to being presented with the Silver award for ‘Financial Institution of the Year for Best Digital Payment Strategy’ and Bronze for ‘Overall Award - Excellence in Interbank Digital Payments’ (Banking Institutions) this year.
Photo Caption: HNB Deputy General Manager- Retail and SME Banking, Sanjay Wijemanne ( fifth from right) exchanging the MoU with, SLT Chief Information and Digital Officer Tilak Gamalath (fourth from right) with (from left -right) HNB Undergraduate Trainee, Yashodhi Hanwella, HNB Head of Refinance Schemes & Special Lending Products, Bandara Rekogama, HNB Head of Cards, Gauthami Niranjan, HNB Head of Microfinance Vinod Fernando, HNB Head of SME Products and Partnerships, Niluka Amarasinghe, HNB Assistant General Manager , Digital Business, Chammika Weerasinghe HNB Assistant General Manager, SME K. Indravasan, SLT General Manager Digital Transformation Projects, Ishari Siriwardane SLT Senior Manager (Marketing)- Lalwin De Zoysa and SLT Deputy General Manager Digital Projects Dinesh Perera
July, 26, 2022
Sri Lanka’s leading private sector bank HNB PLC partnered with renowned property developers The Flemington to offer prospective homeowners exclusive home loans for the series of Flemington apartments.
The partnership will offer customers access to exclusive home loans from HNB for luxury apartments constructed by the developer across key locations in the Colombo district. HNB Head of Personal Financial Services Kanchana Karunagama and The Flemington Managing Director Shamitha Ganegoda were at a special ceremony to commemorate the partnership.
“Real estate has always been a great investment given that its value only increases over time. Despite the ongoing economic crisis, we believe that property, especially those in central locations of Colombo, is a stable asset in one’s portfolio. As such, we have worked tirelessly to provide our loyal customer base with this opportunity to invest in a home of their dreams,” HNB AGM - Personal Financial Services Kanchana Karunagama said.
The bank will offer prospective homeowners flexible repayment options, such as the Step-Up facility, customised to evolving income patterns and cash flows. Furthermore, customers can sign up for a 25-year repayment period for the facility anchored to fixed and floating interest rates.
Moreover, HNB will offer customers a five-year grace period for the capital payment of their mortgage, in addition to a seamless loan approval process supported by its state-of-the-art backend systems.
“Partnerships of this nature offer us the opportunity to provide prospective homeowners access to our portfolio of properties. As such, we are delighted to be working with HNB during these turbulent times and look forward to providing our customers with attractive packages and discounts personalised to their needs,” The Flemington Managing Director Shamitha Ganegoda said.
The partnership will offer customers access to The Flemington luxury apartments, which have completed construction in Rajagiriya and Colombo 10. Prospective homeowners can also choose their dream home from The Flemington apartments, which are under construction at Vajira Road Colombo 4 and Nawala.
Customers can contact HNB on 077 36 558 98 and The Flemington on 077 11 666 99 for further details.
Photo Caption: HNB AGM - Personal Financial Services Kanchana Karunagama exchanging the MoU with The Flemington Managing Director Shamitha Ganegoda in the presence of (from left) The Flemington General Manager- Sales, Lalin Ratnayake, The Flemington Client Relationship Manager, Bathiya Subasinghe HNB Regional Business Head- Colombo Region, S. Narendiran, HNB Senior Manager-PFS Asitha Fernando, HNB Bambalapitiya Customer Centre Manager Danushka Rajapaksha and HNB Assistant Manager- Housing and Personal Loans, Sampath Dodanwela .
July, 25, 2022
Strengthening its commitment to invest in sustainable growth, Sri Lanka’s premier private sector bank HNB PLC, completed its 4th year of restoring and managing a 2.5 hectare block of degraded rainforest land at the Kanneliya Forest Reserve.
The five-year restoration programme implemented by Biodiversity Sri Lanka (BSL) with the technical support of the International Union for Conservation of Nature (IUCN), functions under the guidance of the Forest Department. The bank has been an active contributor to the restoration project which ensures the establishment of on-site nurseries, fertilizing plants, soil conservation, improving plant protection methods and ensuring the plants are watered during the dry season.
Commenting on the completion of another impactful year, HNB Head of Sustainability/DGM/CHRO, L Chiranthi Cooray shared, “We at HNB are pleased to see the progress made at the Kanneliya Forest Reserve. A land that was once considered destroyed is now on its way to becoming a replenished source of life, home to multiple species in the country’s ecosystem.
“Partnering with a project of such significance solidifies HNB’s sustainable development, not only within the organization but also in the environment it so successfully thrives in. We are grateful to the BSL, the IUCN and also the Forest Department for batting on despite the economic uncertainty. Their efforts to sustain the country’s ecological resources must be commended, and HNB looks forward to supporting them through to the end of the project.”
The Kanneliya Dediyagala Nakiyadeniya (KDN) complex is the second-largest block of lowland rainforest in Sri Lanka following the Sinharaja Forest. The complex was declared a conservation forest in 1995 and is managed by the Forest Department of Sri Lanka with multiple corporates across the country joining hands to restore the land. A report highlighting the status of the project found that the land, has shown remarkable progress in reforestation due to restoration efforts.
Most recently, the bank extended its ‘Walk the Talk’ initiative to promote a more eco-friendly, healthy and economical mode of transportation among its employees on World Bicycle Day, encouraging simple interventions with major potential, to reduce its carbon footprint. HNB also promotes carpooling and public transportation to save fuel, and has partnered with vendors to provide bicycles at discounted rates to its employees.
Moreover, HNB has always invested in energy efficient equipment across all of its customer centers since its inception. These efforts have ensured that 95 of the 256 customer centers solar powered, reducing the dependency on the national grid by 19.7% in 2021.
Plant nurseries at the site
Photo Captions : Workers at the plant nurseries
July, 15, 2022
Supporting efforts to reform and revitalize Sri Lanka’s agricultural sector at the grassroots during these challenging times, private sector bank HNB PLC launched ‘HNB Saru Ge Watte’, a campaign aimed at establishing new marketplaces for rural farmers in urban areas while promoting home gardening in urban areas across the Central Province.
Launched in collaboration with provincial and district agricultural offices, the campaign was kick-started at the Kandy City Centre with the presence of Provincial Director General of Agriculture, S A De Silva as the Chief Guest, HNB Deputy General Manager- Legal (Board Secretary) leading the initiative Thushari Ranaweera, HNB DGM/Chief Credit Officer, Nirosh Perera, CBSL Manager (Matale), Chathura Ratnayake together with HNB Regional Business Head (Central), Harsha Wickremasinghe, HNB Kandy Customer Center, Senior Manager, Indika Ekanayake, KCC Chairman Thusitha Wijayasena, Divisional Secretaries, Wathsala Marambage and R M S M Rathnayake.
“With our nation facing its worst economic and food security crisis in history, it is imperative that all Sri Lankans work together to ensure we are able to produce enough to help tide us over during these trying times. We are proud to launch the HNB Saru Ge-watte initiative to provide our customers, the public and Sri Lankan farmers with the knowledge and partnerships necessary to utilize all available land to cultivate food, and contribute even in a small way towards mitigating the worst impacts of the coming crisis,” HNB Deputy General Manager- Legal (Board Secretary) Thushari Ranaweera said.
Given that farmers in non-banking rural segments have difficulty connecting to buyers in urban areas, HNB announced that it would work with its existing customer network to help disintermediate the agriculture sector by creating direct relationships between rural farmers and consumers across the island, in order to provide both sides respectively with a decent livelihood from their harvest, and a reasonable price for their essential needs.
Notably, the initiative also aims to promote home-gardening among residences in urban areas. The bank will facilitate seeds and fertiliser at discounted rates to residents to encourage farming in their gardens. Working in collaboration with the Agriculture Department and Divisional Secretariat, HNB has organised a series of capacity-building programmes to improve financial literacy and technical know-how for farmers at the Kandy City Centre.
“The Central province is a cornerstone of the agricultural sector in Sri Lanka. Over the past few years we at HNB have worked towards supporting farmers in the area through partnerships with our extensive portfolio of vendors. The ongoing crisis has only strengthened and fast-tracked this commitment to our farmers and we are delighted to note that organisations such as the Kandy City Center have stepped up to support us in this endeavor,” HNB Central Region Business Head, Harsha Wickremasinghe said.
Furthermore, the pilot project will be rolled out across the island with the support of local and provincial agricultural officers to support the general public during these difficult times.
Notably, officials from the Agriculture Department, Department of Animal Products, as well as several teams from the Agriculture Department including Seeds and Plants, Commercial Agriculture, the Agriculture Publication Unit, HNB Central Regional Officers and HNB Kandy Customer Center Officers also participated in the event.
Photo Captions : Chief Guest for the event , Director General of Department of Agriculture, S A De Silva ceremonially opening the HNB Saru Ge-Watte initiative to the public and farmers in the presence of HNB Deputy General Manager- Legal (Board Secretary), Thushari Ranaweera, HNB Chief Credit Officer Nirosh Perera, Pujapitiya Divisional Secretary, Wathsala Marambe, Nawalapitiya Divisional Secretary R M S N Rathnayake, Kandy City center Chairman, Thusitha Wijesena, HNB Regional Business Head (Central), Harsha Wickramasinghe, Kandy Customer Center Senior Manager, Indika Ekanayake, HNB Kandy Customer Center Manager- Micro Finance, N A Gamini together with Agricultural Officers and HNB Customer Center representatives at the Kandy City Center
July, 5, 2022
Sri Lanka’s leading private sector bank HNB PLC launched the holistic StudyGuard Financial and Protection Package to ease the burden of school fees requirements for both parents and schools.
This personal loan package launched in collaboration with HNB Assurance is designed to pay school fees for children in semi-government, private and international schools. The facility was launched at a special ceremony at HNB Towers and was graced by HNB Deputy General Manager- Retail and SME Banking, Sanjay Wijemanne, HNB Assurance Chief Executive Officer, Lasitha Wimalaratne and dignitaries from leading international and private schools across the island, including Gateway Group Chairman, Dr. Harsha Alles, Alethea Int. School MD/Coordinating Principal, Anitra Perera, Zahira College Principal, Triizvy Marikkar and Oasis International Principal, Sandya Hewage.
“Education is one of the most fundamental pathways to progress. However, given the current economic climate, we have seen that more parents require support to fund their children’s educational journey. With this in mind, we launched the StudyGuard Package to benefit both the parents and the schools, who will not face any issues in collecting fees. Parents can avoid the burden of paying a lump sum payment for each term and have the option of funding more than one child. Alternatively, schools also have an assurance of cash flow to enhance their current income,” HNB Deputy General Manager- Retail and SME Banking, Sanjay Wijemanne said.
The facility enables the bank to make an upfront payment of up to Rs. 5 million without guarantors, which can be extended to a maximum of Rs. 15 million, directly to the school on behalf of the parents at the beginning of each academic year and does not need guarantors. The package will cover all school-related expenses, including admission, donation, and term fees, including exam fees. Moreover, the parent or guardian can choose the best possible re-payment plan over seven years, with facilities above Rs. 1 million provided with a loan protection cover.
Notably, HNB Assurance also introduced the StudyGuard Protection Package, which ensures the child’s school fees are paid during their schooling career in the unfortunate event of a parent, caretaker or guardian’s demise, critical illness or total disability. The cover has a one-time premium payment customized to the age of the policyholder and the child’s school fees.
“We are delighted to be partnering with schools across the island to provide parents with a convenient and hassle-free method of paying school fees. Parents can avoid the burden of paying a lump-sum payment for each term and have the option of funding more than one child. Alternatively, schools also have an assurance of cash flow to enhance their current income,” HNB Assurance Chief Executive Officer, Lasitha Wimalaratne said.
Notably, the first partnership for the facility with HNB and HNB Assurance was signed by Horizon College, Malabe.
The HNB and HNB Assurance teams at ceremony
Photo Captions : HNB Deputy General Manager- Retail and SME Banking, Sanjay Wijemanne (second from right) exchanging the MoU with HNB Assurance Chief Executive Officer, Lasitha Wimalaratne in the presence of HNB Assistant General Manager- Network Management and Business Development, Supun Dias (far left) and HNB Assurance General Manager/Chief Business Officer- Partnerships, Sanesh Fernando (far right)
July, 1, 2022
Sri Lanka's premier private bank HNB PLC joined hands with Brown & Company PLC, the most trusted and preferred partner of customers to offer exclusive leasing packages for state- of the art agricultural machinery.
The partnership between the industry leaders will offer customers purchasing Browns Yanmar and Sumo harvesters and Massey Ferguson and TAFE tractors with exclusive discounts and exciting benefits. The MoU was signed at a special ceremony at Browns Agriculture premises at Dewanampiyatissa Mawatha, Maradana in the presence of HNB Deputy General Manager-Retail & SME Banking Sanjay Wijemanne and Brown & Company PLC Cluster Chief Operating Officer Sanjaya Nissanka.
“The agricultural sector employs close to 30% of the workforce and has the potential to become one of the largest importers in the country. Given the challenges we face as a country today, we worked doubly hard to provide our customers in the sector with the most convenient and beneficial payment solutions to invest in a wide range of agricultural machinery. We are delighted to have renewed our time-honoured partnership with Brown & Company to offer farmers across the island this opportunity,” HNB Deputy General Manager- Retail & SME Banking, Sanjay Wijemanne said.
The partnership entails an attractive leasing package with low-interest rates and customised repayment facilities, tailor-made to suit each customer’s budget and income. HNB customers will also be offered the Prestige Prime credit card, with the bank waiving off the first year’s annual fee payment. The card will give customers access to unique discounts on automobile products, servicing, spare parts, tyres and batteries.
Dedicated to serving a vast array of motor needs, HNB General Insurance will provide additional benefits to customers through cost-effective vehicle and life insurance schemes. This includes discounted vehicle insurance premiums for customers and free life insurance covers.
“At Browns, we operate with our customers' best interests at heart and we're excited to offer a diverse range of agriculture machinery paired with advanced technology, our renowned and impeccable after-sales service and a wide selection of genuine spare parts. We look forward to strengthening partnerships of this nature to continue offering valued clientele unparalleled pricing and leasing options,” Brown & Company PLC Cluster Chief Operating Officer Sanjaya Nissanka said.
Customers looking to purchase TAFE tractors will be eligible for free registration and four door step services with no charge for labour in addition to a 24-month/2000-hour warranty and a 12-month/1000-hour warranty for Massey Ferguson Tractors.
Browns YANMAR harvesters purchased through the HNB promotion will be entitled to three free doorstep services and a six-month/ 600 working hour warranty. Customers purchasing Browns world SUMO harvesters will be eligible for three free door step services and a six-month/ 300 working hour warranty.
Photo Caption: HNB Deputy General Manager-Retail & SME Banking Sanjay Wijemanne (center) exchanging the MoU with Brown & Company PLC Cluster Chief Operating Officer Sanjaya Nissanka (sixth from right) in the presence of (from left) HNB Business Development Associate, Chinthana Edirisinghe, HNB Assistant Manager- Business Development, Mahesh Ratnayake, HNB Assistant Manager- Leasing, Roshan De Silva, HNB Head of Leasing, Susith Perera, HNB Head of Micro Finance, Vinodh Fernando, HNB Assistant General Manager- Personal Financial Services, Kanchana Karunagama, Brown & Company PLC Cluster Deputy General Manager, Niyas Ahamed, Brown & Company PLC business Development Manager, Abdul Faizer, Brown & Company PLC, Research & Development Executive, Poshana Sanka, Brown & Company PLC Research & Development Executive, Wikumanthi Abeywardena and Brown & Company PLC Brand & Administration Executive, Menaka Wijesinghe.
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