With the CBL Group - Confectionery Cluster

(L to R) HNB RM - Corporate Banking, Lahiru Rajapakse, HNB Junior Executive – SME, Ruwandhi Perera HNB Executive - SME Business Channels, Chinthake Ranasinghe HNB Head of SME Products & Partnerships, Nithiyantham Kethiswaran HNB Deputy General Manager - SME & Micro Finance, Rajive Dissanayake, HNB Executive Director/COO, Dilshan Rodrigo, CBL Director/CEO, Nalin B. Karunaratne, CBL Chief Operating Officer, Daham Gunasena, CBL Director Sales, I. M. Khan, CBL General Manager Sales, Jayanga Perera, CBLF General Manager Finance, Naleen De Silva, CBL Group General Manager - Human Resources, Gehan Mendis, and CBL Group Manager - Credit Control, Chandus Mahamettiyage

Sri Lanka’s leading private sector bank, HNB PLC, has inked a momentous Distributor Finance Agreement with Ceylon Biscuits Limited (CBL) Group, reinforcing its commitment to fostering economic growth and providing tailored financial solutions to businesses in Sri Lanka.

Under this strategic partnership, HNB PLC has extended its Distributor Financing Scheme to encompass Ceylon Biscuits Limited CBL Foods International (Pvt.) Limited and CBL Exports (Pvt.) Limited. These entities, operating within the confectionery cluster of CBL Group, are internationally renowned for manufacturing and distributing a diverse array of products, including biscuits, wafers, cakes, and chocolates.

Commenting on the collaboration, HNB Deputy General Manager, SME & Micro Finance, Rajive Dissanayake said: “Strengthening our financial partnership with CBL Group through the Distributor Finance Agreement is a testament to our commitment to supporting and empowering businesses in Sri Lanka. This strategic partnership reflects our dedication to providing tailored financial solutions, fostering economic growth, and contributing to the overall prosperity of the communities we serve.

“As we strive to continue to play a pivotal role in the economic development of Sri Lanka, this collaboration underscores the Bank’s dedication to facilitating growth and sustainability within the business community. By tailoring financial solutions to meet the unique needs of its partners, we hope to remain at the forefront of driving economic progress in the region,” Dissanayake continued.

HNB’s Distributor Finance initiative, launched in 2015, has become a cornerstone of the Bank’s commitment to supporting businesses. The Bank boasts successful collaborations with 36 corporates and nearly 200 distributors and suppliers, managing a diverse portfolio valued at almost 6 billion Sri Lankan rupees.

The Distributor Finance Agreement with CBL Group signifies a crucial milestone in HNB’s efforts to empower businesses, providing distributors associated with the conglomerate access to working capital at attractive interest rates. Significantly, this financial support will be extended without the need for additional securities, leveraging existing Bank Guarantees based on the distributors’ credit rating.

CBL Group’s expansive distributor network covers the entirety of Sri Lanka, with renowned confectionary brands including Munchee, Ritzbury and Tiara, with products reaching over 60 countries worldwide. Ceylon Biscuits Ltd. has also won the Presidential Award for the “Best Exporter of the Year 2022/23”. Further recognition of Ceylon Biscuits Limited saw them awarded the prestigious “National Quality Award 2022” by the Sri Lanka Standards Institution (SLSI) for the fourth consecutive time, becoming the only biscuit manufacturing entity in Sri Lanka to have the AA+ grade certificate for the BRCGS (Brand Reputation through Compliance) - Food Safety global standards.

With 254 customer centres and 800+ Self Service Machines (SSMs) nationwide, HNB is one of Sri Lanka’s largest, most technologically innovative private banks. Consolidating its legacy in sustainability, good governance and corporate excellence, HNB was crowned the Best Corporate Citizen for 2022 at the Ceylon Chamber of Commerce Best Corporate Citizen Awards. The Bank further secured four additional accolades, including being ranked among the Top 10 Best Corporate Citizens and taking home the Governance category and Sustainability Champion for the Finance sector titles.

HNB was also ranked among the World’s Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine for the sixth consecutive year in 2022. This accolade accompanied HNB being recognized as the Best Bank for SMEs at the Asiamoney Awards 2023, along with being crowned the Best Retail Bank in Sri Lanka for the 13th occasion at the prestigious International Excellence in Retail Financial Services Awards 2023 hosted by the Asian Banker Magazine.