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Hemas remains resilient

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Hemas Holdings PLC (HHL) posted a Group revenue of Rs.17.4 billion for the quarter ended 30 September 2020, an increase of 11 per cent over corresponding period last year. Group operating profit for the quarter under review at Rs.2.0 billion is a growth of 188 per cent over Rs.0.7 billion recorded last year. Year on year increase in earnings amounted to Rs.1.1 billion to reach Rs.1.3 billion for the quarter.

Cumulative revenue of Rs.30.4 billion recorded during the first half of financial year 2020/21 is a growth of 5 per cent against the same period last year. Similarly, the Group operating profit of Rs.2.4 billion for the first six-month period is a notable year on year increase over Rs.0.7 billion recorded last year.

Growth in profitability during the quarter and first six months under review against the corresponding periods last year is reflective of the strong rebound in key sectors, Consumer and Healthcare which were impacted in the aftermath of Easter Sunday attacks. Robust year on year performance was also driven by the realization of margin improvements, and cost savings resulting from lean and efficiency initiatives across the Group.

Quarter under review also witnessed a strong recovery from the subdued performance of the preceding quarter with a revenue growth of 34 per cent and an operating profit growth of Rs.1.6 billion, indicating the resumption of business activities to near normal levels for most of the businesses in the Group which were affected by the first wave of COVID-19 pandemic.

During the period under review, Group managed to surpass the performance of the corresponding period of financial year 2018/19 where no anomalies were experienced, reassuring our resilience and faster than anticipated recovery from Easter Sunday attacks and the first wave of COVID-19. I would like to extend my sincere gratitude to all teams across Hemas Group for this noteworthy achievement under trying circumstances.

We achieved an important milestone in our journey as a Group, with the launch of our Group purpose, ‘Make Healthful Living Happen’, in the month of September 2020. Going forward, this will be the ‘North Star’ in what we do and all core sectors of the Group would anchor growth around our purpose, and ensure the goods and services we supply foster wellbeing of individuals and families we serve.



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HNB joins CBSL to promote ‘Rata Purama LANKAQR’ campaign in Kandy

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HNB PLC once again joined the Central Bank of Sri Lanka (CBSL) to promote the ‘Rata Purama LANKAQR’ campaign to raise awareness and encourage the public in the Kandy district towards a cashless payment ecosystem.

HNB, together with other financial institutions and telecommunication partners, participated in the day-long event held at the Kandy City Center. The bank raised awareness regarding its LANKAQR integrated HNB SOLO payment app while onboarding merchants during the promotional campaign.

“During the early stages of the pandemic we witnessed many of our customers and members of the public seamlessly adopt our cashless and contactless payment app HNB SOLO. With COVID and the subsequent launch of the ‘Rata Purama LANKAQR’ campaign the number of users of these types of systems have increased exponentially.

“Given that the mutual vision of the Central Bank of Sri Lanka and HNB is for a financially and technologically empowered Sri Lanka, HNB is proud to serve as an enthusiastic partner to roll out LANKAQR island-wide. The fact that we now have merchants in the cultural capital of Sri Lanka making this shift is another major milestone in this digitalization journey,” HNB Deputy General Manager – Retail and SME Banking, Sanjay Wijemanne said.

 

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ComBank’s ATM network sets new records for cash dispensed during festive season

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The automated teller machine (ATM) network of Commercial Bank of Ceylon dispensed a record Rs 8.818 billion on 9th and 10th April 2021, shattering the previous records for the highest and second highest cash disbursements for a 24-hour period, as Sri Lanka’s leading private bank facilitated the celebration of the Sinhala and Tamil New Year.

The disbursements of Rs 4.498 billion on April 9 and Rs 4.320 billion on the following day represented a substantial increase over the single-day values recorded in previous years.

In total, Commercial Bank dispensed Rs 41.748 billion via its ATM network between 1st and 15th April 2021 at an average of Rs 2.783 billion per day, reaffirming the indispensable role it plays in the lives of Sri Lankans, as well as the reliability and robustness of the network. On seven of these 15 days the network dispensed more than Rs 2 billion a day, and on five days disbursements exceeded Rs 3 billion a day, the Bank said.

Comprising of 890 ATMs, the network processed 2.434 million transactions over the 15 days at an average of 168,988 transactions a day, while on 9th April, the number of transactions processed totalled 233,990 at an average of 9,749 transactions per hour or 162 transactions per minute.

The first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 10 years consecutively, Commercial Bank operates a network of 268 branches in Sri Lanka. The Bank’s overseas operations encompass Bangladesh, where the bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the bank has a fully-fledged Tier I Bank with a majority stake.

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‘Ceylinco VIP Cyber Tharu’ to showcase Sri Lankan talent

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Ceylinco General Insurance has announced an online competition with a novel concept to showcase Sri Lankan talent by providing a platform for them with the opportunity to win handsome cash prizes.

“This time, our effort is to organize an online competition that provides an opportunity for Sri Lankan people to display their talent and also to identify hidden talents whilst rewarding them. There will be five overall winners whose prize money will be over Rs. 1 million and each category winner will get Rs 100,000/-. Ten randomly picked voters too will receive handsome cash awards,” said Patrick Alwis, chairman CEO of Ceylinco General Insurance.

The guidelines and the criteria of the competition were announced recently through a dedicated website and other social media platforms: Facebook, Instagram, twitter, You Tube as well as LinkedIn. Contestants can perform under five categories, namely, singing, dancing, instrumental performances, fashion modelling and funny videos / Standup comedy. Individuals over 18 years could perform under the individual category whilst the group category will have no age limit.

Under the group category either families or a group of friends could take part. Each entry will have to be specially recorded for this competition. Prior to recording the performance, they should download the image of the logo and have it displayed prominently in the background. Performances could be recorded using a smart phone or a video cam.

 

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