Best Retail Bank and Best Micro Finance Bank
HNB PLC consolidated its reputation as the most innovative bank in Sri Lanka, by being awarded as the Best Retail Bank and Best Micro Finance Bank at International Finance Awards 2018.
Organised by the International Finance Magazine as a global platform for the recognition of leadership and value-generating capacity. Winners of the IFM Awards are selected following careful evaluation of submissions from across the world with qualified research being conducted on all nominees by dedicated teams prior to selection of winners based on the strength of their application and past accomplishments.
“On behalf of our entire team at HNB, I wish to convey how deeply honored all of us have been to receive the awards for Best Retail Bank and Best Micro Finance Bank." The IFM Awards are globally renowned as a showcase for industry best practices, innovation.
“These awards help to highlight which direction the entire global banking industry is moving towards, and it is therefore gratifying that we have not only maintained, but improved our performance from last year. We believe this is further vindication of the remarkable transformation taking place at HNB, and the catalytic role we will play in the coming chapters of Sri Lanka’s growth story,” HNB Managing Director/CEO, Jonathan Alles said.
The bank remains a dominant leader in the retail sector, maintaining strong and consistent growth in profits, while relentlessly pursuing operational excellence through constant refinement of its processes, physical and digital infrastructure, together with customer facing innovations designed to provide the most convenient, reliable digitally integrated banking experience for all HNB customers.
Over the past year, the bank has been deepening its engagement across its full spectrum of banking services, resulting in a 30.7 Year-on-Year (YoY) expansion in Profit Before Tax to Rs. 14.1 billion in just the first six months of 2018 alone.
“Customer centricity is at the core of our success, and what enables HNB to advance its leadership position in the retail sector. By focusing on operational excellence and product innovation with an emphasis on easily accessible digital services, HNB is working to catalyse a new paradigm in banking. In that regard, we express our heartfelt gratitude to our customers who are partners in our success, and to our dedicated team whose efforts fuel our organisation to greater heights,” HNB Deputy General Manager – Retail Banking, Sanjay Wijemanne said.
HNB has long maintained a thriving presence in the microfinance sector. As the very first Sri Lankan bank to enter the market with a branded product exclusively for the microfinance sector with HNB Gami Pubuduwa in 1989, the bank has utilized its invaluable experience as a true pioneer in the field to extend vital financial services to underserved communities across the island, while tailoring its approach to suite the unique conditions prevalent in the Sri Lankan market.
“A substantial proportion of Sri Lanka’s economy is built on the efforts of microfinance entrepreneurs and SMEs and we remain confident in the ability of this sector to serve as an engine of unprecedented growth, provided they are facilitated with the necessary access to finance, knowledge, skills and other advisory services for such businesses to thrive. HNB’s approach prioritizes the early identification of promising businesses with a view to forming lasting partnerships capable of unleashing and sustaining growth at every stage of the business.
“This award therefore stands as further vindication of HNB’s tried and tested approach to microfinance and we wish to express our heartfelt gratitude to our dedicated team of employees and field officers who have been at the heart of our success,” HNB SME and Midmarket Deputy General Manager Jude Fernando stated.
The two IFM Awards are also the most recent in a long series of accolades presented to HNB over the recent past. So far in 2018, HNB was recognised by the prestigious Banker Magazine as one of the Top 1000 banks in the world and is also the highest ranked local bank in this listing. HNB has already been adjudged Best Retail Bank 2018 by The Asian Banker Magazine in addition to being declared Best SME Bank, Best Digital Bank and the Best Cash Management Bank in Sri Lanka at the Asiamoney Awards 2018. Notably, over the past week HNB was named by Euromoney as the Best Corporate Cash Management Bank in Sri Lanka for 2018 and was ranked among the Most Admired Companies in Sri Lanka by the International Chamber of Commerce and Chartered Institute of Management Accountants (CIMA).
The bank is also the highest ranked bank in Sri Lanka by the LMD and Business Today magazines. HNB became the first Sri Lankan bank to obtain an international credit rating and was assigned a foreign currency issuer rating of B1 on par with the sovereign rating by Moody’s Investors Service, while it has a national long term rating of AA- (lka) by Fitch Ratings (Lanka) Ltd.