People’s Bank recognised by ‘The Next 100 Global Awards’ for Investment Banking
- People’s Bank has received yet another accolade for the services provided by the Bank’s Investment Banking Unit
People’s Bank, Sri Lanka’s Premier Licensed Commercial Bank, was recognised as one of the ‘The Next 100 Global Companies’, by the Global Banking and Finance Review recently. This Award recognises institutions that have illustrated excellence in particular areas of expertise within the global financial community. The People’s Bank Investment Banking Unit was applauded for its ability to evolve and meet its customer’s needs with a proper strategy that is progressive and innovative manner.
Speaking about their accomplishments Sujeewa Rajapakse, Chairman of People’s Bank, said, “I must commend my team for being included among ‘The Next 100 Global Companies’ for the second consecutive year. It’s our ability to evolve as a bank that has enabled us to be recognised by many leading global organisations. With our group synergies and the strength of the bank, People’s Bank Investment Banking Unit has created a name for itself in the capital market. We have been identified as one of the best and most innovative solution providers, within a relatively short period. It is our strategic focus on creating value for our customers that have allowed us to reach these goals.”
Clive Fonseka, Actg. Chief Executive Officer/General Manager of People’s Bank, added, “People’s Bank is known as the Pride of the nation because we pride us on understanding the changing preferences of our customers. In 2011 we set up People’s Bank Investment Banking Unit, to focus on the rapidly growing economy of the country and its capital markets (debt and equity). We are proud to have successfully completed 28 debenture issues since the inception in which we have managed to generate more than 165 billion rupees for the issuers. Our investment banking unit provides a wide range of services to our customers, including financing and advisory services, initial public offerings, debt structuring, fixed-income security trading, loan syndications, custodian, trustee services and securitization. We are very proud of the achievements made by the team at People’s Bank.”
‘The Next 100 Global Companies’ awards highlight some of the most exciting, innovative, and promising businesses from around the world. It has over the years evolved and grown to include the following areas of finance and banking; foreign exchange, banking, insurance, hedge funds, pension funds, compliance, corporate governance, wealth management, Islamic finance, exchange-traded funds, project finance, binary options, technology, CSR and other relative areas. A wide range of criteria is used by the awards to shortlist entries these include, but are not limited to: leadership and team experience, quality, and track record Industry footprint regional/global social contribution and economic impact, level of expertise growth rate / Start-up growth stage Industry awards and recognitions Technological advantages Customer response and engagement Disruptiveness of the solution in its respective markets Impact on their respective industry.
Established under the People’s Bank Act No 29 of 1961, People’s Bank is the country’s second-largest financial services provider with LKR 3.0 trillion in consolidated assets. At present, the Bank has 743 branches and service centers located islandwide and over 14.5 million customers. The Banker Magazine (UK), identified People’s Bank as among the Top 1000 Banks in the World in terms of Consolidated Tier I. It is also honoured with numerous awards and accolades both locally and internationally, including the International ARC Awards 2022 – Specialized A.R: Integrated AR & CSR: Non-Traditional Format.
Sujeewa Rajapakse, Chairman of People’s Bank and Clive Fonseka, Actg. Chief Executive Officer/General Manager of People’s Bank