Business
People’s Bank notches Rs. 3 trillion in consolidated assets as it celebrates 62nd anniversary
People’s Bank, a pioneer in the Sri Lankan banking and financial services sector, celebrated its 62nd anniversary on July 1, marking over six decades of excellence and service to the nation. With a customer base of over 14.7 million and consolidated assets of over Rs.3 trillion, they have been instrumental in introducing the concept of banking to the general public in Sri Lanka. Today People’s Bank continues its responsibility by providing cutting-edge digital banking services even to the most rural areas in the country, a People’s Bank press release said.
The release added: ‘The bank over the years has played a pivotal role in driving the national socio-economic development, thus earning the reputation as the pride of the nation. Today, it has 745 outlets across the country providing a full range of banking services to individuals and SMEs. People’s Bank has proved its commitment to the well-being of the country many a time, extending its support to the government by facilitating financing for development and international trade activities.
‘Through its Mahajana Mehwara CSR programme, the bank with its employees has financed the buying of vital medical equipment worth over Rs.20 million to key government hospitals to treat Covid 19 patients during the pandemic. Among many other community service initiatives are, the donation of essential medical supplies to Lady Ridgeway and Castle Hospitals worth over Rs10 million and the provision of solar-powered electricity systems for underprivileged schools.
‘People’s Bank was established under Act No. 29 of 1961 with the aim of uplifting the cooperative business and rural banking systems. This Act was submitted to Parliament by then Minister of Trade, Food, Co-operatives and Shipping, T. B. Ilangaratne, under the leadership of then Prime Minister Sirimavo Bandaranaike. Vincent Subasinghe who was a pioneer in providing banking services to the co-operative sector was the first Chairman of People’s Bank.
‘From its inception, the bank started working towards its mission to serve the masses. Accordingly, People’s Bank has introduced many firsts to the country such as agriculture loans, Pawning, SME loans, Women’s Savings Accounts and Children’s Savings Accounts. Most of these product concepts were so widely embraced by society that almost all the local commercial banks are now offering them under various brand names.
‘Adapting to the modern world, the People’s Bank launched its digital banking project in 2015, to ensure that customers could transact easily, safely, and efficiently. They were the first bank in the island that took steps to undertake a comprehensive digital transformation project covering major part of its operations. ‘As a result, People’s Bank now provides a world-class digital banking experience to all its customers, with over 70% of its transaction volume being processed as digital transactions.
‘The excellence of People’s Bank has consistently earned recognition both locally and internationally. SLIM Nielsen People’s Awards, National Business Excellence Awards and LankaPay Technnovation Awards are but some of the local accolades received by the bank. Internationally, People’s Bank has been the recipient of awards such as the Asian Banker Excellence in Retail Financial Services Award, Asia Money Best Bank Awards, SAFA Awards, The Asian Digital Finance Forum Awards.’
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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