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HNB secures Top 3 position on Business Today rankings

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Consolidating an outstanding reputation for excellence and a legacy of digital innovation even in the volatile backdrop of the COVID pandemic, Sri Lanka’s most popular retail bank, HNB PLC was ranked among the Top 3 on Business Today prestigious list of the Top 30 Corporates in Sri Lanka.

Compiled following a stringent series of evaluations of all participants, the Business Today’s Top 30 Rankings assess nominees on their quality of growth, corporate governance and long-term vision. During the period in review, HNB’s strong financial performance, and proven ability to introduce novel technology-enabled capabilities, products, and services helped the bank secure a ranking amongst the Top 3.

“Our brand has evolved over decades into one of the strongest banking franchises both locally and internationally. Our position among the foremost corporates in the Business Today Top 30 ranking stands as a testament to the ambitious and transformational journey that we are pursuing.

“Given the uncertainties we experienced this year, corporate Sri Lanka has realigned and readjusted its strategies to face the repercussions of the COVID-19 pandemic as it unfolds. In such a volatile environment, HNB doubled down on technological transformation, in order to rapidly adapt to the ‘new normal’ of socially distanced, and increasingly digital customer engagement.

“Moving forward, innovation and new thinking are a must for any organisation to grow sustainably. Accordingly, over the coming year we will continue to explore new pathways for the bank to evolve and thrive despite the uncertain macroeconomic conditions that may emerge over the next year,” HNB Managing Director and CEO Jonathan Alles said.

The Business Today ranking is the most recent in a string of accolades bestowed on HNB in recognition of its transformational approach to banking. Over the recent past, HNB was also ranked among the World Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine.

Additionally, HNB’s remarkable track record of excellence helped secure its place among the ‘Top 10 Most Admired Companies in Sri Lanka’ by the International Chamber of Commerce, Sri Lanka and the Chartered Institute of Management Accountants (CIMA). Based on its performance over the past 25 years, the bank was also included in the LMD Top 100 Club.

Similarly, HNB was presented with the award for Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020. The award marked the second consecutive year in which the bank was declared country winners in a category which prior to 2018 had been dominated by multinational banks.

Other prestigious accolades won by the bank include the Best Retail Bank in Sri Lanka award for 2020 by the Asian Banker Magazine and a total of seven awards at the Best Corporate Citizen Sustainability Awards 2019 organised by the Ceylon Chamber of Commerce.



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SLT-MOBITEL AkazaLMS enables corporate employee capability development

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As SLT-MOBITEL, the National ICT solutions service provider, continues to play a pivotal role in driving Sri Lanka’s digital transformation through its Cloud-managed offering, SLT-Mobitel AkazaLMS takes centre-stage as the nation’s leading Learning Management System (LMS). SLT-Mobitel AkazaLMS offers a unique, locally developed, comprehensive enterprise learning solution designed to cater to diverse training needs without compromising on quality.

Commenting on the initiative Chief Enterprise & Wholesale Officer of SLT, Lakmal Jayasinghe said “Especially in today’s competitive environment where human capital is more important than ever, companies need to create a learning strategy that aligns to robust curricula, employing relevant and available learning methods and technology. Addressing this need, SLT-Mobitel AkazaLMS Cloud is an enterprise e-learning solution hosted in Sri Lanka on the top of a private cloud, providing corporate and institutional customers the ability to deliver their own learning material to their users with zero cost infrastructure. With greater convenience and without additional IT resources, customers have access to their own training needs via a simple web browser”.

Empowering corporates and educational institutes, SLT-Mobitel AkazaLMS is a comprehensive locally developed platform, containing a self-portal where the user develops their own e-learning and purchase it as a SaaS product. Especially during these challenging times, when classroom lectures are not possible and distance learning methods vital, the SLT-Mobitel AkazaLMS facilitates exams, assignments, quizzes, etc. tailor-made and customised for corporates and educational institutes targeting their own specific needs.

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LIOC shows stability in earnings and margins compared to volatility during previous years

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First Capital expects stability in LIOC earnings and margins ahead, compared to the significant volatility witnessed during the previous years.

“With the new pricing formula, we expect a stable outlook for LIOC which is currently trading at a TTM PER of 7.5x on FY22 earnings while also trading at a PBV of 1.5x”, they said.

“The government’s implementation of the new fuel pricing formula on 24th May 22 includes all costs incurred in importing, unloading, distributing to the stations and taxes. With that, fuel prices will be revised on a monthly basis, and if necessary, it will be reviewed every two weeks. Accordingly, the next price revision was scheduled for 24th Jun 22. Considering the price revision, In addition to that, Sri Lanka’s Cabinet has approved a bill to impose a 2.5% tax on companies with an annual turnover of LKR 120.0Mn, which will only have a marginal effect on company margins.”

“With regards to investment in joint venture, LIOC has invested in Trinco Petroleum Terminal (Pvt) Ltd (TPT) in Jan-22 and acquired 49% of the stake with CPC which holds 51% of the ownership of TPT in order to develop 61 tanks at the Trincomalee Oil Tank Farm and allied facilities in the Upper Tank Farm of the China Bay Oil Tank Farm. Also, LIOC has entered into a Lease of State Land with the Government of Sri Lanka for a term of fifty years to develop the Lower Tank Farm of the China Bay Oil Tank Farm,” First Capital said.

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Lanka Hospitals Academy partners with NSBM Green University

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From left: Training Academy of Lanka Hospitals, Senior Executive - Ms. Chamalika Senarathna, its Senior Manager - Ms. Thanushka Waduge, Lanka Hospitals’ Deputy Chief Executive Officer/ Director Medical Services - Dr. Lasantha Karunasekara, Lanka Hospitals’ Group Chief Executive Officer - Deepthi Lokuarachchi, NSBM Green University, Dean, Faculty of Science - Dr. Nuwanthi Katuwavila and other officials

to offer clinical training for nursing undergraduates

Lanka Hospitals Academy has partnered with NSBM Green University to launch a professional clinical training programme for nursing undergraduates of NSBM. The initiative will offer prospective undergraduates of NSBM’s nursing degree programme an opportunity to obtain hands-on training in a fully equipped real-world clinical setting through Lanka Hospitals Academy, under highly experienced and qualified medical professionals. The mutually beneficial partnership is aimed to facilitate and enhance skill development in the practice of nursing, which is vital for the career development of nurses in the nursing workforce and the healthcare industry at large. The partnership with NSBM is the latest initiative by Lanka Hospitals Academy, which aims to optimize synergies with its industry stakeholders.

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