PROFILE

HNB Finance

Q: What are your brand’s strengths, opportunities and growth potential in the short to medium terms?

A: As a subsidiary of HNB, one of the largest systemically important private banks in Sri Lanka, HNB Finance is strengthened by its steady and positive cash flow, strong balance sheet with positive net assets and strong total asset base.

We are also listed on the Colombo Stock Exchange (CSE) and enjoy a high level of brand recognition among Sri Lankans, owing to our diversified product portfolio and strong corporate governance practices.

Furthermore, our synergy with Prime Finance – a member company of Prime Lands, one of Sri Lanka’s largest real estate players – augments our strength in real estate and micro-leasing while enabling business growth through cross selling with existing and new customers.

We are well equipped to expand our outreach through new technology solutions, as well as business and product diversifications, and appeal to a larger audience through our new corporate identity.

Our growing portfolio of mortgage-based and ‘Gold Loan’ products also assists customers to reduce risk weighted assets in order to increase capital adequacy.

Similarly, we look forward to exploring opportunities through government backing in the SME, SSE and agricultural segments.

Q: What is your assessment of the impact of the current situation in the country on branding in particular and brands in general?

A: Branding has taken a backseat for most businesses with cost optimisation and recovery efforts coming to the fore. We too have shifted our focus from business loan growth to recoveries, supported by marketing and branding, thereby instilling a culture of cross functions and multitasking.

In the current scenario, brands have also fully embraced the shift towards digital branding and marketing – now more than ever.

Consumers too are now more price sensitive. In order to remain competitive, it’s important to focus on the value provided by our services – such as new features and benefits, as well as enabling significant cost savings.

We are also placing emphasis on looking for new business opportunities; expanding sales channels; taking care of our existing customers; and most importantly, maintaining a positive attitude in and through these challenging times.

Q: In what perhaps more meaningful ways should organisations consider brand investments to accelerate business recovery against a backdrop of the changing dynamics in today’s business environment?

A: In the current context, brands should invest in uplifting the customer experience, and providing convenience and ease of use wherever possible.

Key priorities for HNB Finance include expanding our reach through modernised branches, easing of the on­boarding process, improving financial literacy, maintaining faster turnaround times, gearing employees to provide a high quality customer experience and promoting digital services.

Investing in branding can also help us to attract more of the right customers, keep our loyal existing customers happy, im­prove employee retention, reduce marketing costs and bolster the value of our organisation.

Q: As a trusted leader in the local market, how does the company use digital tools to ‘future-proof’ your brand?

A: Following the launch of internet and mobile banking, we will be implementing the ISO 27001 information security standard by 2026, to keep customer data protected from any cyber threats that might occur. We have also begun using digital platforms to onboard new customers.

Generating quality leads through the use of digital advertising, and maintaining high levels of visibility over social media and on other digital platforms have assisted us in engaging existing and potential customers, and gaining ‘top-of-mind awareness’ and recall for the brand.

Through ongoing research and development, we are also committed to using digital channels to provide an efficient customer experience and superior service.

Q: What are your brand’s plans for the next 12 months?

A: In the near future, HNB Finance will be focusing on governance, digitalisation and optimised business models while maintaining our high standards of customer service. We are also committed to further improve our asset quality and growing the deposit base while employing cost optimisation strategies across the company.

Plans to expand our footprint in auto and micro-leasing, and the housing financial solutions market, are also in the pipeline – while continuing the upward trajectory of our Gold Loan portfolio.

Telephone 2176262/2024848 | Email info@hnbfinance.lk | Website hnbfinance.lk