Pan Asia Bank partners global bank to launch unique gold loan solution

Pioneering another innovation in Sri Lanka’s banking industry, Pan Asia Bank has launched a superior Gold Loan product in partnership with a reputed global bank, which is a unique solution to protect the asset value of customers in fluctuating market conditions. Along with its global banking partner, Pan Asia Bank has devised this new product to take away the risk of asset devaluation due to market fluctuations. As a Truly Sri Lankan bank, Pan Asia Bank understands the customer point of view which is why it is offering this unique product proposition for the first time ever in Sri Lanka.

Gold loans have traditionally been a preferred mode of accessing loans by a wide swathe of customers but the volatility in gold prices in recent years has made this a risky proposition for both borrowers and lenders. Pan Asia Bank’s new proposition stabilizes uncertainty in gold prices, enabling the Bank to offer a higher value to customers whilst also protecting the asset value of their gold. With this unique Gold Loan product, Pan Asia Bank synergizes its decades-long experience in the industry and in-depth knowledge of consumers with the expertise of the leading global bank for a product that has been absent in the market, thereby effectively rendering gold loans a safe haven product.

Pan Asia Bank’s new gold loan is the first such product in the history of Sri Lanka’s banking sector. This innovative solution is also in line with the regulator’s vision to see local banks using more derivative options.