Sri Lanka’s leading private sector bank, HNB PLC, was honoured with the prestigious “Best Bank – Sri Lanka” title and was also recognized as the Runner – Up for Best Performance on Profitability – Sri Lanka at the 2nd Emerging Asia Banking Conclave & Awards, organised by the Indian Chamber of Commerce (ICC).
The ICC Emerging Asia Banking Conclave & Awards ceremony took place on August 23, 2024, at The Leela Palace in New Delhi, India under the theme of “Leading in the Digital Paradigm”. It brought together international speakers, delegates, and regulators from The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) countries to discuss technological advancements and future developments in the banking industry.
“This award underscores our continuing commitment to empowering all segments of Sri Lankan society – while facilitating businesses of all sizes to compete on the global stage, towards a broad-based economic revival. We aim to facilitate our clients with the services, technical knowledge, and network needed to seize international opportunities and penetrate new markets.
“Looking ahead, we remain steadfast in our pursuit of sustainable development, continuously refining our strategies to enhance resilience and catalyse transformative change. These recognitions fuel our determination to play an even more pivotal role in Sri Lanka’s economic resurgence, setting new benchmarks for the banking sector in the process,” said HNB Acting CEO Damith Pallewatte.
The Bank’s outstanding performance in areas such as asset quality, profitability, advances and deposit growth, liquidity, capital levels, gender equality, adherence to compliance etc. contributed to this remarkable achievement.
“Receiving these prestigious global accolade is a testament to our team’s remarkable dedication and renewed vigour, as well as the robust systems we’ve implemented to deliver unparalleled service excellence. Our initiatives, such as the Everest Transformation project, have radically improved our operational efficiency and digital banking capabilities. These comprehensive internal realignments have been the cornerstone of HNB’s exceptional growth trajectory and a key driver behind our recognition at these esteemed awards.
“By continuously evolving and adapting to meet the dynamic needs of our customers, we’re not just transforming our operations; we’re reshaping the future of banking in Sri Lanka. These awards motivate us to push even further, innovating and excelling in ways that benefit our customers, shareholders, and the nation as a whole,” said HNB Chief Operating Officer Sanjay Wijemanne.
As of the first half of this financial year, HNB’s asset base improved to Rs 1.95 trillion as of June 2024, recording a Rs 27.6 billion growth in gross loans during the quarter. Meanwhile, the Bank’s deposit base further expanded to Rs 1.59 trillion as of June 2024.
Throughout the preceding year, HNB also demonstrated remarkable resilience and consistent performance amid significant industry headwinds. Notably, the Bank reported a 63% Year-on-Year (YoY) surge in digital transaction volumes, complemented by a 65% YoY increment in the customer base engaging with our digital platforms.
HNB’s other significant accolades include being adjudged the “Best Automobile Financing Bank in the Asia-Pacific Region” and “Best Retail Bank in Sri Lanka” for the 14th occasion by the Asian Banker, being declared the “Best SME Bank” by Asiamoney Magazine, and securing a Top 5 position on Business Today’s Top 40 rankings for 2023. Furthermore, consolidating its legacy in sustainability, good governance, and corporate excellence, HNB was also crowned as the Best Corporate Citizen for 2022 at the Ceylon Chamber of Commerce Best Corporate Citizen Awards.