MOST VALUABLE BRANDS PROFILE
Pan Asia Bank
Establishing its credentials as a ‘Truly Sri Lankan Bank,’ Pan Asia Bank aims to be the preferred commercial bank among customers in the country. Incorporated in 1995, it presently has 85 branches islandwide.
Over 26 years of service, the brand has looked to uphold a continued sense of trust and confidence by fulfilling customers’ requirements, while making environmental, social and economic contributions.
During the first half of 2021, the bank reported an after tax profit of Rs. 1.4 billion, demonstrating a 50 percent growth compared to the same period in the previous year. Moreover, its profit before tax amounted to 1.8 billion rupees – a 27 percent increase from the corresponding period of 2020. The bank attributes this performance to its strength and resilience despite the uncertainty that prevailed due to the pandemic.
Enabling the country’s banking ecosystem through customised solutions, Pan Asia Bank has touched hearts and minds across the socioeconomic spectrum, through its authenticity, values and sustainability credentials.
Nation-mindedness is a priority for all businesses and becoming a truly Sri Lankan bank by making the customer the centre of all decision making demonstrates how Pan Asia Bank has embraced this responsibility.
Bridging the gap between society and the environment, the bank has pioneered a number of green financing initiatives, leaving an imprint on the pillars of sustainable development in Sri Lanka.
It has funded sustainable agriculture, renewable energy and energy efficiency projects. The rehabilitation of the Mahawewa tank in the Balagolla Wasama region of the Kurunegala District and providing irrigation facilities to the sugarcane farming community in Monaragala are among many such initiatives.
These efforts led to the bank being the recipient of the first US$ 7.8 million green bond launched by Swiss-based Symbiotics.
Being recognised as the ‘Best Green Bank in Sri Lanka 2020’ for its contributions to a sustainable tomorrow by UK-based Global Banking & Finance Review is another of Pan Asia Bank’s notable accolades. This serves as reaffirmation of the Global Climate Partnership Award bestowed by the Global Climate Partnership Fund (GCPF) in 2019.
Like many others, the financial services industry is on track to achieve digital transformation. Pan Asia Bank is equipped to embrace digitalisation through its online banking facility and QR enabled transactions.
It also takes pride in being the first private sector bank in Sri Lanka to deploy an electronic fingerprinting facility as an alternative to issuing pensioner life certificates, enhancing the state sector’s efficiency.
The bank’s commitment to driving innovation and enhancing the customer experience is showcased by its recognition as the runner-up in the Product Innovation category of Infosys Finacle’s Client Innovation Awards 2020. In addition, Pan Asia Bank was ranked among Business Today’s TOP 30 for 2019/20.
More recently, the bank was conferred the title of ‘Best Bank for Treasury Activities Sri Lanka’ at the Global Banking & Finance Awards 2021. And at the International Business Magazine Awards 2021, it won the ‘Fastest Growing Commercial Bank Sri Lanka’ and ‘Best Treasury and Cash Management Bank Sri Lanka’ awards.
Pan Asia Bank was also conferred the ‘Best Bank in Treasury Management Sri Lanka’ award at the World Business Outlook Awards 2021 while being recognised as the ‘Fastest Growing Commercial Bank Sri Lanka’ and ‘Most Sustainable Green Bank Sri Lanka’ at the World Economic Magazine Awards 2021.
As for the economy, businesses play a crucial role in stimulating its recovery – especially those in financial services.
When the COVID-19 pandemic brought the economy to a virtual halt, Pan Asia Bank proved its resilience and positive contribution – not only to the economy but also society – by introducing customer centric value additions and ensuring continual funding amid the challenging conditions that prevailed.
Looking to the future, Managing Director and Chief Executive Officer Nimal Tillekeratne states: “Pan Asia Bank looks to enhance its presence across digital channels and will do more with less to become a more sustainable operation while riding the wave of digital banking channel adoption witnessed in 2020.”
“Process digitisation and automation is the way forward for quality customer service, cost control and growth in the retail banking sphere,” he asserts, adding: “By blending modern technology with 26 years of heritage, Pan Asia Bank’s aim is to deliver a truly Sri Lankan experience to the nation.”
Chief Executive Officer