Business
Treasury operations at Pan Asia Bank drive its financial strength
Strengthened by its brand positioning as ‘The Truly Sri Lankan Bank’ and boosted by its prudent financial management, Pan Asia Banking Corporation PLC (PABC) recorded its best-ever financial results in the year 2020 despite the adverse impact of COVID-19 on the economy and the banking industry at large. At the centre of this impressive performance is the Treasury function – truly the heart of the Bank’s operations, which has helped steer Pan Asia Bank to profitability.
Richie Dias, Deputy General Manager – Treasury at Pan Asia Bank explains, “The Treasury Department was one of the main contributors to the Bank’s overall profitability. Over the last three to four years, the treasury function has been responsible for sustaining reasonable interest rates to attract deposits, usually a challenge for a medium-sized bank like us. We looked at niche markets and non-traditional ways to meet budgeted profitability during 2020 and reduced cost of funds by raising foreign funding lines. Pan Asia Bank’s return on equity and net interest margins are one of the highest in the industry today.”
He believes the wealth of expertise in treasury operations reposed within Pan Asia Bank has successfully help fund the Bank’s balance sheet on current and forward basis. As a, smaller bank, one of the challenges faced was deposit mobilization since larger banks were in a position to offer more attractive rates. “In order to be competitive in lending and to increase profit margins, we sourced funds from overseas. As of now, Pan Asia Bank has close to USD 100 million worth of funding lines from reputed Development Financial Institutions (DFIs) for long and medium term tenure,” Dias explains.
Dias reveals that PABC gained the confidence of DFIs because of its green financing aspirations- since the Bank has always been keen to fund renewable and energy efficient projects, it had already embarked on its green journey which was recognized with the prestigious ‘Global Climate Partnership Award’ 2019 by The Global Climate Partnership Fund (GCPF), one of the world’s largest climate funds. Pan Asia Bank is the first Bank in Sri Lanka to be recognised by The Global Climate Partnership Awards.
With its green journey gaining further traction, Pan Asia Bank became the first Sri Lankan bank to partner with the Switzerland-based Symbiotics for its first green bond issuance for USD 7.75 Million in 2020. These initiatives led PABC to be awarded the ‘Best Green Bank’ accolade by the prestigious Global Banking and Finance Review Awards 2020 for demonstrating expertise and excellence within the global financial community.
Company stresses ambition to surpass this milestone
Eyes markets across Africa and beyond
In a groundbreaking achievement for Sri Lanka’s IT and electronics manufacturing industry, EWIS Colombo Ltd, the country’s first and only local computer manufacturer, has successfully exported its first consignment of locally built laptops to Zimbabwe.
This landmark event not only positions Sri Lanka as an emerging force in global IT hardware manufacturing but also highlights EWIS’s commitment to innovation, quality, and excellence on the international stage.
This historic shipment, dispatched from EWIS’s state-of-the-art manufacturing facility in Samajasewapura, Sooriyawewa, underscores the company’s dedication to delivering world-class technology solutions. With over 11 years of expertise in manufacturing and assembly, EWIS Colombo Ltd has played a pivotal role in driving Sri Lanka’s ICT sector forward. As a Board of Investment (BOI) Section 17-approved company, EWIS has established the country’s first and only local computer manufacturing plant, paving the way for the nation’s growth in high-tech exports.
Speaking on this momentous achievement, Sanjeewa Wickramanayake, Chairman of EWIS Colombo Ltd, said: “This milestone is not just for EWIS but for Sri Lanka as a whole. It proves that our country has the talent, capability, and ambition to manufacture and export high-quality IT products, competing confidently on the global stage. As we continue expanding beyond local markets, we take immense pride in showcasing Sri Lanka’s excellence in technology and innovation to the world. EWIS’s commitment to world-class quality is reinforced by its ISO 9001:2015, ISO 14001:2015, CE, FCC, and RoHS certifications, ensuring compliance with international quality, safety, and environmental standards.”
Speaking further he said:
“For nearly four decades, EWIS has been a trailblazer in Sri Lanka’s ICT sector, delivering cutting-edge solutions for education, businesses, and government enterprises.
With over 11 years of local manufacturing and assembly expertise, EWIS has continuously refined its capabilities to produce high-quality, internationally competitive IT hardware. The successful export to Zimbabwe represents a bold step toward expanding EWIS’s global footprint, reinforcing Sri Lanka’s potential as a world-class technology and manufacturing hub.”
Dialog Television, Sri Lanka’s #1 Pay-TV service provider, has partnered with Emerging Media to enhance the convenience and effectiveness of advertising. This collaboration brings together Dialog Television’s world-class entertainment, featuring 18 advertisable channels across genres such as movies, edutainment, kids, music, sports, and local content, with Emerging Media’s expertise in digital advertising and targeted marketing. This synergy creates a seamless platform for businesses to maximize brand exposure across multiple channels.
With a reach of over 1.7 million households, Dialog Television provides advertisers with a powerful avenue to engage diverse audiences. Brands can place advertisements on leading international and local channels such as &flix, Star Movies, TLC, Animal Planet, AXN, Zee Café, Comedy Central, Star Plus, A+, Nickelodeon, Star Vijay, Zee Tamil, Star Sports, Ten Cricket, Sony SIX, ThePapare TV, Channel One, Citi Hitz and Channel C. Through this partnership, Emerging Media will facilitate advertising sales, allowing businesses to target specific viewer segments while simplifying the media buying process with a single point of contact.
Commenting on the partnership, Lim Li San, Group Chief Operating Officer at Dialog Axiata PLC, stated, “As Sri Lanka’s premier Pay-TV service provider, we serve more than 1.7 million households with over 6 million pairs of captive eyeballs across Sri Lanka. Today, we are excited to embark on this partnership with Emerging Media to avail our Dialog Television platform and brand strength to provide quality advertisement exposure and customer engagement to local businesses across Sri Lanka.”
The International Institute of Health Sciences (IIHS), a pioneer in healthcare training for over 23 years, has partnered with the University of Surrey, UK, to revolutionise healthcare education in Sri Lanka and the broader South Asian region. This will create a world-class academic pathway for aspiring nursing and healthcare professionals, as well as young individuals seeking careers in the field. Under this agreement, IIHS and the University of Surrey will introduce a series of academic initiatives to enhance healthcare training and accessibility.
These include delivering internationally recognised nursing programmes that allow Sri Lankan and regional students to earn globally competitive qualifications in Sri Lanka.
Commenting on the move, Dr. Kithsiri Edirisinghe, CEO & Dean of Undergraduate Studies at IIHS, said: “This MOU marks a significant step in our mission to deliver world-class healthcare education to Sri Lanka and the region. IIHS remains dedicated to shaping the future of healthcare professionals and fostering global healthcare leadership.” Dr. Shelini Surendran, Associate Dean (International) at the University of Surrey, emphasised: “Sri Lanka is establishing itself as a regional education hub, and this partnership ensures students across Asia can access top-tier UK healthcare education at IIHS. By bridging academic excellence with accessibility, we provide students with a clear pathway to their professional goals.”
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