Thursday, 28 October 2021

HNB Honoured With ‘Best Retail and SME Bank’ at International Finance Awards

 According to the latest news, Sri Lanka’s most innovative & advanced private sector bank HNB PLC, once again got success in bookmarking its banking excellence at the International Finance Awards 2021, crowned with the Best Retail Bank and Best SME Bank awards in the banking sector. Earlier, Global Finance honored Gulf International Bank with Two Key Awards "Innovators 2021”.


The award function was organized by the renowned International Finance Magazine. It is an international platform for acknowledging and celebrating the world’s best financial institutions. The awards signify the achievement of corporations dominating in advancement, infrastructure development, and customer concentration.


As the sector has developed due to a pile of guidelines, innovation improvements, and market changes, each candidate has been explored by devoted specialists with exceptional thoughts coordinated towards the strength of their requests, execution, and past achievements, the release said. 


Recommended Read: Commercial Bank Is Honoured With 'Best Bank In Qatar 2021' Award By Global Finance




According to HNB Deputy General Manager – Retail and SME Banking, Sanjay Wijemanne, “We are glad to have once again emerged successful as the Best Retail Bank and the Best SME Bank arranged by the renowned International Financial Magazine. This global acknowledgment is a demonstration of our representatives' diligent effort and commitment in the SME and Retail areas, which have developed consistently regardless of the difficulties welcomed by the pandemic, to convey unique products and excellent assistance contributing emphatically towards the development of our customers. Pushing ahead, we promise to keep improving our attention on transformative banking by utilizing the force of innovation to give creative arrangements and cycles for all our customers.”


Recommended Read: Arab Bank Received the Middle East’s Best Trade Finance Provider 2021 Award


Obliging the requirements of over 2.5 million Sri Lankans island-wide, Retail Banking is a leader section for HNB. The Bank has been a pioneer in utilizing digital banking products, services, and channels to give clients advantageous, thorough, and secured options to transact remotely, as per the release.


After the beginning of the pandemic, HNB quickly inserted its full set-up of digital contributions into the contactless delivery mechanism upheld by the state, offered services during the curfew period according to the rules issued by the Central Bank, and worked our devoted Omni Channel engagement Center on a 24*7 basis. 


Recommended Read: African Development Bank Honored With Best Multilateral Financial Institution 2021


Subsequently, the bank stretched out significant relief to customers in Debt Moratoriums and Working Capital advances at concessionary rates. Strikingly, HNB was additionally recently pronounced the Best Retail Bank in Sri Lanka for the eleventh time at the Asian Bankers Awards coordinated by the renowned Asian Banker Magazine. 


With 254 client habitats and over 780 devices across the nation, HNB is one of Sri Lanka's biggest, most technologically creative banks, having success nearby and global acknowledgment for its endeavors to drive forward another worldview in digital banking. HNB has a national rating of AA-(lka) by Fitch Ratings (Lanka) Ltd. The Bank was likewise positioned among the World Top 1,000 Banks list arranged by the esteemed UK-based Banker Magazine for five back-to-back years. HNB was additionally pronounced Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020.


Bank Guarantees vs. Letters of Credit

  Two crucial instruments for safeguarding financial transactions are bank guarantees and letters of credit. While they share some similarit...