Pan Asia Bank strengthens financial management skills of SME entrepreneurs.

Small and Medium Enterprises (SME) entrepreneurs for the backbone of the economy, keeping the wheels of the economic engine moving through the toughest of times. The pandemic and the economic crisis have put enormous pressure on entrepreneurs in terms of the financial sustainability of their businesses. However, the recent developments in financial markets and on the economic front have created a positive sentiment among the business community.

As an active business partner for entrepreneurs, Pan Asia Bank is always in the forefront of supporting the Sri Lankan business community to move forward. As a key initiative, the Bank recently held the latest session in a series of workshops on ‘SMEs and Financial Management to enhance financial literacy to better manage small businesses.

32 Pan Asia Bank SME customers from the Colombo South region attended the workshop which was held at Ariyana Reach Hotel in Maharagama. Pan Asia Bank’s endeavor was to empower them with financial management skills to boost the financial viability of their businesses.

The workshop was conducted by Mr. Sarath Dias-Bandaranayake, a Fellow of the Institute of Bankers, Fellow of the Institute of Training & Development, Founder Fellow of the Institute of Chartered Professional Managers; Certified Life & Business Coach is a Trainer of Entrepreneurs, Banking & Finance & HR Professionals, Essential Skills, Trainers, Coaches; Life & Business Coach; Banking, Finance, Management & a HR Consultant.

Participants benefitted by way of gaining knowledge on preparation of cash flows, bank reconciliation statements and financial literacy. The workshop also helped customers understand banking in relation to their business and financial security. This included an overview of bank borrowings, working capital, Current Assets and Current Liabilities and Profitability and cash flow. The workshop was successfully concluded amidst overwhelmingly positive feedback from the participants, who felt the newfound knowledge would prove useful in carrying out their future business activities and to maintain business records. The next workshop is scheduled for November 2023.

Pan Asia Bank’s Assistant General Manager – Branch Credit Mr Nimal Ratnayake commented, “Pan Asia Bank is committed to holding these workshops regularly for its SME customer base because of the value they add to the economy. However, many lack the necessary financial expertise to manage the financial aspects of running a business, which is why our workshops are focused on strengthening their financial management skills so that they have a 360-degree view of their financial cash flows and liquidity management which ensures their businesses can thrive in times of adversity.”

These efforts show the continuous commitment of the Truly Sri Lankan bank, Pan Asia Bank, towards the upliftment of the business community and the revival of the Sri Lankan economy.

Nimal Ratnayake - Assistant General Manager of Pan Asia Bank is seen addressing the gathering. Participants at the event are also seen in the photograph.