Business
HSBC Sri Lanka wins three international awards
On the backdrop of completing 129 years of operation in the country, HSBC Sri Lanka continued its leadership position as the best International Retail Bank of the year, at the Asian Banking & Finance Retail Banking Awards 2021 for the fifth time, since 2016.
This year over 140 exceptional banks from 31 countries were recognised for their continuous drive to grow and provide services to customers amidst several uncertainties presented by the COVID-19 pandemic. Winning banks were judged for their resilience and ability to adapt and leverage digital technology amidst the crisis, and cater to the ever-changing customer preferences and increased comfort with digital products and services, to benchmark themselves against market competition.
Nadeesha Senaratne, Country Head of Wealth & Personal Banking HSBC said, “We are truly humbled to be recognised as Sri Lanka’s best International Retail Bank of the year given the challenging environment faced by many businesses and the impacts of the pandemic on local communities. This award is a testament to the dedication and commitment of our Wealth & Personal banking team in Sri Lanka and the customer confidence in HSBC. It further proves that our strategy to invest in technology and help customers adapt to the new normal with digital banking products and services, and making banking fast, easy to use and secure, is paying off.”
He further said, “I take this opportunity to thank all our customers for the trust placed in us, and to our staff for their continued commitment to supporting our customers and the wider community that we serve.”
This year HSBC rolled out several digital banking channels for customers to be able to bank from anywhere, anytime. Customers, who had been slow to adopt digital in the past, were forced to embrace technology during the pandemic. More than 80% of the bank’s clients now use digital channels including mobile banking, e-wallets, real-time cash deposit machines and other digital services.
The same applies to corporate banking where HSBC has a 90% digital penetration rate and 70% mobile penetration for the client group. HSBC was able to bring clients on board remotely using technology and was the first to introduce LiveSign in Sri Lanka, and provide access to credit cards, loans and customer service.
Earlier this year, HSBC Sri Lanka was also named International Bank of the Year by Asiamoney in the Best Bank Awards 2021 for the fifth consecutive year and was awarded the same title by Finance Asia in its Country Awards 2021, for the sixth time.
These awards further reinforce HSBC Sri Lanka’s longstanding commitment to the country and customers, as well as recognises the bank’s overall dominance in Wholesale Banking, Wealth & Personal Banking and Global Banking and Markets.
Business
JAT Holdings celebrates the 6th Pintharu Abhiman Convocation, uplifting over 800 painters through NVQ certification
JAT Holdings PLC marked a significant milestone with the successful conclusion of the 6th JAT Pintharu Abhiman Convocation, recognising more than 800 painters who have earned their NVQ Level 3 qualification, an internationally recognised professional certification delivered in partnership with the National Apprentice and Industrial Training Authority (NAITA).
JAT Pintharu Abhiman was established to uplift Sri Lanka’s painter community through structured skills development, professional recognition and stronger earning potential. This year’s graduating cohort reflects the programme’s expanding reach and the tangible changes it continues to deliver for individuals, families and communities.JAT in collaboration with NAITA has streamlined the certification process such that what would traditionally take up to six months has been refined into an efficient and high-impact three-day assessment model. This approach ensures painters can obtain their qualification without sacrificing extended periods of work, while JAT fully absorbs the certification cost, removing financial barriers and enabling wider access to formal recognition.
Research conducted amongst NVQ qualified participants shows meaningful improvements in livelihoods, with 90 percent reporting increased personal confidence and 76 percent noting an improvement in their overall standard of living. This uplift demonstrates the long-term value of industry-aligned professional training.
A noteworthy moment at this year’s convocation was the recognition of four female painters who received their NVQ certifications. Their achievement marks an important step in broadening female participation in a field that has historically been male dominated, reinforcing JAT Holdings’ commitment to creating inclusive pathways for technical development and sustainable employment.
Speaking at the ceremony, Mr. Wasantha Gunaratne, Director Sales and Technical (South Asia) of JAT Holdings PLC, said:
“Pintharu Abhiman is fundamentally about development, giving painters the knowledge, structure and recognition they need to progress in their careers. By equipping over 800 painters with an internationally recognised NVQ qualification, we are not only strengthening the technical standards of the industry but also creating real pathways for entrepreneurship and financial independence. It is especially encouraging to see that one in five certified painters have already begun building their own businesses. These are the outcomes that matter because they show that when we invest in skills, we unlock opportunity. JAT remains committed to expanding these avenues so every painter has the chance to grow, lead and build a sustainable future.”
The 6th JAT Pintharu Abhiman Convocation underscores JAT’s continued dedication to uplifting the painter community, enhancing industry standards and supporting national skills development through accessible, professionally recognised qualifications.
Business
Industry bodies flag gaps in Draft National Electricity Policy
The Ceylon Chamber of Commerce, together with the American Chamber of Commerce, Exporters Association of Sri Lanka, Federation of Renewable Energy Developers, Joint Apparel Association Forum, National Chamber of Commerce of Sri Lanka and Sri Lanka Association for Software and Services Companies, has submitted joint observations on the Draft National Electricity Policy, highlighting that several key issues have not been adequately addressed.
Whilst recognizing the need for reform in the electricity sector, the submission flags several gaps in the draft policy that require closer attention. Key areas such as affordability, decarbonisation commitments, incentives for renewable energy, competition, and the long-term financial health of the sector are either missing or not addressed in sufficient depth.
The proposed tariff revisions outlined in the draft energy policy raise concerns, particularly regarding the removal of cross-subsidies and the proposal to restrict subsidies exclusively to households consuming less than 30 kWh per month. Without detailed analysis, these measures could weaken access to sustainable and affordable energy and potentially lead to fiscal risks.
The provisions allowing uncompensated curtailment, removing feed-in tariffs, and imposing mandatory time-of-use tariffs on rooftop solar users could make renewable energy projects un-bankable for international lenders, thereby increasing the cost of capital for Sri Lanka.
Calling for a more future-focused approach, the submission stresses the need for a policy that reflects modern electricity systems, including planning for the energy transition, energy storage, market competition, cross-border electricity trading, and emerging technologies.
The Chambers and Associations request a comprehensive revision of the Draft National Electricity Policy, alignment with the Electricity Act, and resubmission following substantive consultation, and reiterate support to engage constructively with policymakers to shape a policy that supports affordability, investment confidence, and Sri Lanka’s long-term energy security.
Business
Bank of Ceylon partners with 36th APB Sri Lanka Convention
Bank of Ceylon (BOC) partnered with the 36th Annual Convention of the Association of Professional Bankers (APB) Sri Lanka, reaffirming its commitment to promoting professional excellence and knowledge sharing within the banking sector. The partnership was officially handed over by Sameera D. Liyanage, Chief Marketing Officer of Bank of Ceylon and M. R. N. Rohana Kumara, Deputy General Manager Business Revival Unit of Bank of Ceylon, reflecting BOC’s focus on empowering banking professionals and supporting the sustainable growth of Sri Lanka’s financial services industry.
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