PAN ASIA BANKING CORPORATION
RANK 15
NUMBER OF AWARDS 16
Q: How important are awards and accolades as benchmarks of corporate success, in your opinion?
A: Awards by independent and reputed bodies reflect the soundness of an organisation. Pan Asia Bank’s reputation precedes this as it has shown strong improvement across all parameters.
The transformation of our identity into ‘The Truly Sri Lankan Bank’ has further raised brand awareness as a local bank that recognises the true needs of the people while upholding the heritage and culture of the nation.
Q: And how about customer centricity along with operating with an ethical mindset…?
A: Our intention has always been to run ethical operations while being customer centric. We have put our heads down and worked fast and silently; and this has paid off in many ways, as along the way we have been showered with a bevy of awards and accolades.
Q: And how do awards and accolades serve to motivate the bank and its employees?
A: Pan Asia Bank’s strong financial performance amid the external volatility caused by the pandemic, supported by local and international awards, motivates us to reach for even higher standards.
Q: In your assessment, what are the critical elements of ensuring an effective recognition programme? And what initiatives have you taken in the context of human resources and employee satisfaction?
A: Awards act as levellers to help organisations of different sizes to compete on one platform.
For example, Pan Asia Bank’s strong financial performance in 2021 would easily be on a par with any bank. In a similar vein, we have also instituted a strong recognition programme for our employees internally as well.
Firstly, our restructuring exercise over the last few years has ensured that the bank’s employees have a clear idea of their career pathways, and the awarding of bonuses and criteria for being granted promotions.
As a result of this transparency, employees’ pathway to achieving their targets is clear.
In addition, we run several internal schemes that ensure a happy workforce – including policies that cover employee ratings, promotions, leave and rewards. A governance committee regulates these policies to ensure there is no ambiguity.
Q: How can awards serve to improve overall performance in the business arena?
A: Amid the disruptions experienced in the world, awards are the right motivational tool for organisations to strive harder to reach industry-best standards. Without internal and external goals, any organisation would never be able to raise the bar.
At Pan Asia Bank, we set our financial and operational targets higher each year; this can be seen in the industry-best net profitability ratios in 2021.
The bank’s non-performing asset management has been on point this year, which positions us very strongly along with one of the lowest non-performing loan (NPL) ratios among banks and financial institutions in the country. What’s more, Pan Asia Bank has consistently outperformed the industry average.
This strong performance by the bank has elevated brand recognition and awareness.
Q: In your view, what were the highlights of your brand’s performance in 2021?
A: As a brand and as a banking entity, Pan Asia Bank performed well on all fronts including financials, business and product growth, human capital enhancement, and customer focus and centricity among others.
All our key product lines grew steadily throughout the year, which is a testament to how well customers have recognised and accepted Pan Asia Bank’s products and service delivery.
Q: How has Pan Asia Bank coped with recent challenges and what are its plans for this year?
A: The bank has also had its share of troubles but we streamlined our recovery through cost control. Our sales culture was overhauled and the sales team made leaner to ensure higher productivity.
Pan Asia Bank was one of the only banks to gain credit lines even during the pandemic, which reflects our credentials among foreign financing institutions. The bank is aiming to reach a network of 100 branches within the year – from 85 branches in our network presently. Our eventual goal is to operate 150 branches by 2024.
During the year, the bank accelerated digitalisation but I believe relationship banking is what drives new business. To this end, Pan Asia Bank will always focus on personal and relationship banking with customers.
Q: What were the key awards won by the bank in 2021?
A: Pan Asia Bank was one of the top banking entities that received many accolades during the year, encompassing profitability improvement, growth, cash management, treasury function, green financing, product innovation and so on.
A highlight was the prestigious Best Bank for Treasury Activities Sri Lanka 2021 – Treasury award bestowed by the Global Banking & Finance Awards 2021. This award is a source of pride for Pan Asia Bank as we won it for the first time in the bank’s history.
In addition, the bank was recently recognised as Runner-up in the Product Innovation category of the Client Innovation Awards 2021 held by Infosys Finacle. This accolade is a testimony to the bank’s commitment to drive innovation, and continuously enhance customer engagement and experience.
Pan Asia Bank was also awarded the Best Green Bank accolade by the prestigious Global Banking & Finance Review Awards 2021. The bank has firmly established its credentials as a pioneer and foremost promoter of green initiatives, by building an impressive legacy of initiating green projects, and receiving accolades from national and international quarters in equal measure.
Winning the Best Green Bank award on the international platform provided by the Global Banking & Finance Review Awards 2021 reflects the international acknowledgement of Pan Asia Bank’s efforts to pursue a more sustainable future for society.
These awards recognise companies of all sizes that demonstrate expertise and excellence within the global financial community, and they’re highly respected throughout the international banking and financial community.
Q: In your assessment, how does green funding help in pursuing economic sustainability and uplifting living standards?
A: Pan Asia Bank believes that extending green funding will create the perfect opportunity to generate long-term sustainable economic benefits to uplift the living standards of people by creating cost-efficient energy solutions for businesses and employment while also preserving the environment by promoting renewable energy.
Q: As for the bank’s contribution to national development, where does the focus lie?
A: As The Truly Sri Lankan Bank, Pan Asia Bank is committed to making a sustainable contribution to the nation by excelling in all areas of its operations while driving innovation and financial inclusiveness to customers across the country.
