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People’s Bank Organizes Blood Donation Camp to Mark 59th Anniversary

To commemorate the Bank's 59th anniversary, People's Bank organized a blood donation camp at the Head Office in Colombo 2.

The blood donation camp was organised by the People’s Bank Welfare Department. Sujeewa Rajapakse - Chairman of People's Bank and a large number of the bank's staff members volunteered to donate blood. The event was also attended by Ranjith Kodituwakku - Chief Executive Officer/General Manager, Rohan Pathirage - Senior Deputy General Manager (Human Resources and Legal), Mahinda Premanath - Deputy General Manager (Banking Support Services) and P.R.S. Jayatissa - Deputy General Manager (Human Resources).

From all the special programmes, religious events and social service projects that the bank has organised to commemorate its 59th anniversary, the blood donation camp takes on special significance. Given the COVID-19 situation in the country, the blood donation camp was carried out in accordance with health guidelines.

Following the health checkup, the blood was collected from the donors under the strict supervision of the doctors of the Blood Bank. Through this programme People's Bank is able to donate a significant amount of blood every year to the Blood Bank.

People’s Bank and University Grants Commission (UGC) tie up to provide laptop loans to undergraduates

People’s Bank has entered into a partnership with University Grant Commission (UGC) Sri Lanka to provide loan facilities to undergraduates of all universities in the country with easy repayment plans. This special loan scheme has been introduced to fulfill a promise given by His Excellency the President Gotabaya Rajapaksa in his election manifesto “Saubagye Dekma” to empower all university undergraduates with the latest technology.

A Memorandum of Understanding (MoU) announcing the partnership was exchanged by Sujeewa Rajapakse - Chairman of People's Bank and Senior Professor Sampath Amaratunge - Chairman of University Grants Commission (UGC) at the People’s Bank Head Office on 29th July 2020. Ranjith Kodituwakku – Chief Executive Officer / General Manager of People’s Bank, Dr. Priyantha Premakumara – Secretary of UGC, Ubayakula Ranaweera - Head of Finance/Accountant of UGC together with K.B. Rajapakse - Senior Deputy General Manager-Retail Banking, G.P. Renuka Jayasinghe - Deputy General Manager-Process Management, Quality Assurance and Retail Banking and Lionel Galagedara - Deputy General Manager-Channel Management, all from People’s Bank, were present at the occasion.

With this historical partnership, all Sri Lankan undergraduates will benefit through a concessionary loan scheme to purchase laptop computers which suit their respective education areas. The loan facilities will be granted to purchase laptops with specifications that are pre-approved by the University Grants Commission at a more concessionary interest rate with easy repayment plans. The undergraduates are privileged to pay only the interest portion during the university course period while repayment of the loan capital will commence after they have graduated from their respective university. 

Expressing his opinion on the partnership, Sujeewa Rajapakse - Chairman of People's Bank stated, “We are pleased to introduce this special loan scheme for undergraduates of all universities in the country. We are confident that these laptops will assist them to carry out their studies while providing them access to global knowledge which will allow them to be always updated in their respective field.”

Senior Professor Sampath Amaratunge - Chairman of University Grants Commission (UGC) stated, “Today, we marked another milestone in our university system in the country, I hope this strong bond with the largest bank with such a widespread branch network in the country will provide all the undergraduates with a great opportunity to complete their degrees while creating financial discipline in their life.”

People’s Bank retains No 3 spot in Sri Lanka’s Most Valuable Brands
  • Only entity among Top 3 to have positive incline in brand value
  • Brand rating improves to AAA-
  • The only state bank to increase in brand value in current rankings

In the 17th Annual review of Sri Lanka’s Most Valuable Brands published by Brand Finance Lanka, People’s Bank retained its No. 3 ranking having also increased its brand value by 1.4% to LKR 46.1 mn.

The Brand Finance certificate was officially handed over by Ruchi Gunewardene - Managing Director of Brand Finance to Ranjith Kodituwakku - Chief Executive Officer/General Manager at the People’s Bank Head Office in the presence of several members of the corporate and executive management of the Bank.

This increase in value was not observed either among the top two entities nor among other state banks in the Top Ten rankings, giving credence to People’s Bank’s constant digitalization stimulus being a crucial imperative in adding value to its brand. Brand Finance also gave People’s Bank an increased brand value rating of AAA- from its AA+ last year, increasing its brand score from 75.06 to 80.39. The Bank’s digitalization momentum throughout 2019 and after despite significant challenges faced post the Easter attacks in April 2019 proved its mettle to retain its position and increase its brand value. 

Citing that brands were hard pressed to perform in an extremely challenging economic environment, Brand Finance noted a 4% drop in brand value among the 100 Most Valuable Brands and post COVID-19, expects it to decline a further 9.5%.  The annual review covers multiple sectors including banking, consumer products and services, conglomerates, telcos, exports, e-commerce and MNCs. 

In its report, Brand Finance refers to digital transformation and automation being the key growth factor in managing challenges, a feature that will further accelerate with COVID-19. It states that this year has witnessed banks at the forefront of innovation, such as Peoples’ Bank, notching an increase in both their brand strength and brand value.

People’s Bank’s unrelenting innovation mindset has enabled it to add to its brand value, at a time when others experienced a decline. To be the only entity among the top three most valued brands to showcase an increase in brand value and to be the only state bank quoted by Brand Finance as being in the forefront of innovation points to the fact that the Bank’s model is right. Innovation is the nucleus upon which People’s Bank has continued to build the brand, reputation and business upon. The Bank’s far-reaching digitalization process has been the panacea for its excellent performance in the Most Valuable Brand index and being the vanguard in transforming conventional banking business into one that embraces the future in a sustainable and going concern, is how it wants to work in these very uncertain times.

With the Bank’s brand value increasing to LKR 46,161 Mn, equity scores which account for 50% of brand strength increasing to 83.13, People’s Bank continues its upward trajectory in being aligned to The Bank of the people. Being the only brand to continuously remain within the Top 3 is augmented by the improved AAA- rating given by Brand Finance. In addition, the increase by 11.04% in forecast revenue and 10.05% in brand strength has eliminated any negative impacts that may accrue due to country risk being increased by 10.03%.

The Banking sector accounts for 44% of total brand value even though challenging economic conditions prompted a decline of 3.3% in growth value. Being the only state bank that had an increase in brand value in the rankings of the Top 10 Most Valuable Brands, displays the Bank’s unwavering commitment to move towards becoming the most digitalized bank in Sri Lanka. 

The country is moving into tumultuous times and the value of technology-led service environment taking over is clearly visible. Having laid a solid technological foundation, People’s Bank has been constantly placing the building blocks for tech-driven solutions for many years now. Maintaining traditional ties, the Bank has expanded its technology spectrum incisively and this is where its leadership lies.  The Bank’s brand is now ready to march forth into higher echelons and in an era when businesses and brands are being challenged, People’s Banks is well-positioned to thrive.

People’s Bank’s Rs. 20 billion Debenture Issue oversubscribed

People’s Bank’s BASEL III, Tier 2 compliant, Unlisted, Rated, Unsecured, Subordinated, Redeemable Debenture issue was oversubscribed receiving in excess of Rs. 20 billion worth of bids during the early hours of the opening day itself in a strong expression of investor confidence. This signifies the trust and confidence placed by leading investors on People’s Bank. 

The debenture issue was in three tranches – 100 million, five, eight and ten year subordinated debentures, followed by two other equal tranches of 50 million similar debentures at Rs. 100 each, in the event of an oversubscription of the preceding tranches. Incidentally, this was the largest ever BASEL III, Tier 2 compliant, subordinated debenture issue ever concluded in Sri Lanka up to now. The objective of the issue was to strengthen the Tier 2 capital of the Bank and to expand its loan book via diverse lending products in the ordinary course of business over a period of three to six months based on the current credit demand.   

People’s Bank is a premier financial institution in the country with an unparalleled track record of nearly six decades in driving the country’s socio-economic development through partnering the growth of individuals, businesses and the Government by providing access to finance and safeguarding public interest. People’s Bank accounts for 16% of the Banking industry’s assets and deposits and is thereby the second largest bank in the country. As a fully state-owned, domestic systemically important bank, People’s Bank’s role extends beyond that of mere financial intermediation and its impact on the economic and social fabric of Sri Lanka is unmatched. The Bank is rated AA+ (lka) by Fitch Ratings Lanka Ltd.

People’s Bank has many significant achievements in the fund raising arena both in domestic and foreign markets. The Bank has raised Rs. 30 billion locally by issuing unlisted debentures up to now. Furthermore, People’s Bank managed to secure a US$ 200 million bilateral, eight year facility in 2019 which was one of the largest and longest tenor US$ facilities ever secured by a Sri Lankan commercial bank.     

People’s Bank Investment Banking Unit, which is one of the leading investment banks in Sri Lanka, acted as the Manager to the Issue whilst the Bank’s Legal Department acted as the Legal Advisor to the issue.

People’s Bank offers main sponsorship for Kandy Esela Perahera

People’s Bank has come forward as the main sponsor for the historical Kandy Esala Perahera.

The sponsorship cheque of the People’s bank was handed over to Pradeep Nilanga Dela, Diyawadane Nilame of Sri Dalada Maligawa by Mr. D.M.D Dasanayake- Kandy Regional Manager of People’s Bank.

Pradeep Nilanga Dela,  Diyawadane Nilame of Sri Dalada Maligawa expressed his gratefulness  to People’s Bank for continuously offering this sponsorship towards the iconic cultural pageant culminating perennial customs and traditional dances.

People’s Bank inaugurates its 240th Self-Banking Unit at Angunakolapelessa.

People’s Bank recently declared open its 240th Self-Banking Unit at Angunakolapelessa Branch.

The Self-Banking Unit comprises of an Automatic Teller Machine (ATM) and Cash Deposit Machine (CDM). With the establishment of the new Self-Banking Unit at Angunakolapelessa, customers can enjoy convenient and efficient banking services 24 hours a day, 7 days a week, and 365 days a year.

Deputy General Manager of People’s Bank (Channel Management) Lionel Galagedara, Acting Deputy General Manager of People’s Bank (Business Analysis & Re Engineering) Krishantha Gunaratne, Hambantota Regional Manager L.U.L Alwis, Branch Manager S.H.A.C.N Senivirathne as well as staff of People’s Bank and customers were present at the occasion.
 

People's Bank Further slashes loan interest rates up to 6% to support SMEs and 9% for Personal Loan facilities

As the bank of the people, People’s Bank has stepped forward to fulfill its obligations and assist the Government’s ongoing efforts to re-start the Sri Lankan economy and help the people of the country to get some form of normalcy to their lives by reducing interest rates to 9% onwards across several loan schemes.

In accordance with the clear direction and guidance of the Government, the Chairman and Board of Directors together with the management of the Bank has announced special concessionary interest rates across the board with almost all of them at single digit levels. Accordingly, interest rates for all Educational Loans, Personal Loans and Housing Loans have been reduced to 9% onwards while the interest rate for Vehicle Loans has been dropped to 10%. Small and Medium-scale Enterprises (SMEs) are able to obtain loans from as low as 6% upwards, the lowest in the market today.

Additionally, People's Bank has also slashed interest rates for a large cross section of the general public employed in different professions. People’s Bank has made arrangements to disburse these loans with these newly-reduced rates through its islandwide network of 737 branches. Further information can be obtained from the nearest People’s Bank Manager or Manageress.

People’s Bank distributes Aswenna loans in Kalpitiya to uplift fishing community

People’s Bank held a ceremony in the Kalpitiya, Kandakuliya, Kudawa beach to distribute Aswenna loans, a unique product launched to support the Government’s development programme to create a self sufficient nation. The event was graced by the presence of People’s Bank Chairman Sujeewa Rajapakse and Chief Executive Officer / General Manager Ranjith Kodituwakku.

The loans were distributed to for the fishing industry to purchase multi-day and single-day boats, nets and other tools as well as for ice manufacturing. In addition to this, Vanitha Saviya loans, introduced by the Bank to empower female entrepreneurs, were also handed over to the loan recipients during the event.

People’s Bank Deputy General Manager (Enterprise Banking) Krishani Narangoda, Assistant General Manager (Small & Medium Enterprises) Wickrama Narayana, Assistant General Manager (Development Finance) U.S. Gerty, Assistant General Manager (Marketing) A.U.A. Ansar, Puttalam Regional Manager Lal Pieris and several others participated in the event.

People’s Bank supports creation of self-sufficient nation with distribution of Aswenna loans in Keppetipola

People’s Bank held a ceremony in the Keppetipola region of Badulla to distribute Aswenna loans, a unique product launched to support the Government’s development programme to create a self sufficient nation. The event was graced by the presence of People’s Bank Chairman Sujeewa Rajapakse and Chief Executive Officer / General Manager Ranjith Kodituwakku.

The ceremony was held at the premises of Richy Dairies, a company where the Managing Director Priyantha Manatunga is a People's Bank customer who had obtained an SME loan from the Bank and successfully grown his business from SME level to become a large national level dairy producer.

The loans were distributed for the purpose of agriculture, horticulture, greenhouse crops and dairy milk production. Vanitha Saviya loans, introduced by the Bank to empower female entrepreneurs, were also handed over to the loan recipients during the event.

People’s Bank Deputy General Manager (Enterprise Banking)Krishani Narangoda, Assistant General Manager (Small & Medium Enterprises)Wickrama Narayana, Badulla Regional Manager Manjula Dissanayake, Asst. Regional Manager Rajiv Karunanayake and several others participated in the event.

To support the Governments development programme, People’s Bank distributes Aswenna loans in Nuwara Eliya

People’s Bank held a ceremony in the Kandapola region of Nuwara Eliya to distribute Aswenna loans, a unique product launched to support the Government’s development programme to create a self sufficient nation. The event was graced by the presence of People’s Bank Chairman Sujeewa Rajapakse and Chief Executive Officer / General Manager Ranjith Kodituwakku.

The loans were distributed for agriculture, livestock development, horticulture, dairy milk production, purchasing of seeds and raw material for agriculture and development of underlying infrastructure.

Vanitha Saviya loans, introduced by the Bank to empower female entrepreneurs, were also handed over to the loan recipients during the event. Additionally, the handing over of the cash deposits by new customers who opened Aswenna Savings and Investment accounts was carried out. They were able to open their Aswenna account using digital technology.

Krishani Narangoda – Deputy General Manager (Enterprise Banking), Wickrama Narayana - Assistant General Manager (Small & Medium Enterprises), O.K.R.D. Wasantha - Nuwara Eliya Regional Manager, K. Chandrakumar - Nuwara Eliya Asst. Regional Manager, A.M.W. Anura Kumara - Nuwara Eliya Branch Manager and several others participated in the event.

People’s Bank amongst the World’s Top 1,000 Banks on a Consolidated Tier 1 basis and amongst the Top 200 on Return on Capital

People's Bank once again made its mark by securing its place amongst the ‘Top 1000 Banks in the World - a ranking carried by the prestigious Banker Magazine United Kingdom - a publication by the Financial Times. More importantly, the Bank was ranked amongst the Top 200 in terms of Returns on Capital - a rare feat

Commenting on the ranking, People’s Bank’s Chairman Sujeewa Rajapakse stated that, “As a State Bank, People’s Bank’s role is dual - one to support the Government further its national economic objects and, two, to create sustainable value for the benefit of all its stakeholders. In this context, the Bank’s ability to consistently be amongst the Top 1000 and amidst different circumstances and, to be ranked amongst the Top 200 for shareholder value added, ultimately attests to the level of success and performance. Needless to say, excellence is a process and we remained focused on consistently raising the bar of performance on a 360 degree basis. At present, we remained focused in making every effort reasonably possible to support the Government in their many initiatives to revive the economy. We take the opportunity to thank our customers for their continued confidence and our employees for their unwavering commitment. People’s Bank’s successes is ultimately yours”

Sharing his views, People’s Bank’s Chief Executive Officer / General Manager Ranjith Kodituwakku stated that: “The ranking is the end result of many initiatives both from a business and operational perspective as undertaken by the Bank over the years. At present, all our energy is being channeled towards offering relief to all those distressed by the COVID-19 pandemic and to create ease of access to funding. There have been numerous loan schemes launched/ re-launched to cater to the diverse needs of the market at highly concessionary rates of interest. Our doors remain always open - as demonstrated in the most difficult circumstances in our living memory”

At present, People’s Bank has a network of 739 branches across the country serving a total of over 13 million customers. With the objective of providing a highly-efficient service to customers by leveraging the latest technology, all the branches of People's Bank are digitally empowered. While these branches are located in every town, district and province across the island, the network has grown to a total of 755 Automated Teller Machines (ATMs), 270 Cash Deposit Machines (CDMs) and 220 Kiosks.

People’s Bank collaborates with Industrial Development Board (IDB) to support 5,000 Micro, Small and Medium Enterprises (MSMEs)

People's Bank has tied up with the Industrial Development Board (IDB) to initiate a programme to develop Micro, Small and Medium Enterprises (MSMEs) in the country.

A special event to announce the partnership was organised at the People's Bank Staff Training College recently. The event was graced by the presence of Hon. Wimal Weerawansa - Minister of Small & Medium Business and Enterprise Development, Industries and Supply Chain Management, M.A. Ranjith – Secretary, Ministry of Industries and Supply Chain Management, N.G. Panditharathna - Additional Secretary, Ministry of Industries and Supply  Chain Management, Upasena Dissanayake - Chairman of IDB, P.L.U. Rathnamalala - Director General of IDB, K.M.S.G. Bandara - Director Regional Development of IDB, together with Sujeewa Rajapakse - Chairman, Ranjith Kodituwakku - Chief Executive Officer / General Manager and Krishani Narangoda - Deputy General Manager (Enterprise Banking) together staff of People's Bank.

Based on the agreement, People’s Bank and the IDB have decided to empower around 5,000 MSMEs with technical and managerial support together with proper financial facilities to ensure sustainability of their businesses. The main objective of the project is to develop the industries with greater potential for export, import substitution, domestic value addition and employment generation.

The project is to be financed by the customized credit facilities offered by People’s Bank. MSMEs recognized and strengthened managerially, technologically and via market accessibility by the IDB are directed to the Bank for financial support. The respective loan amount will be decided based on the requirement and the financial feasibility and viability of the project. The loans are to be considered subject to the conditions which are stipulated in the relevant SME loan products. Follow up and review of the loans and the scaling of the businesses will be carried out by the People’s Bank in collaboration with IDB.

This is a historical movement in the banking industry where two government institutions join hands together to address a much needed requirement of developing entrepreneurship in Sri Lanka.

Now the customers can register with IDB and undergo a comprehensive training and finally develop a pragmatic business plan before they meet the bank manager. Then the bank manager would be comfortable in evaluating the requirement of the customer and offering tailor-made and most suitable credit   package required.

IDB has the strength of sourcing most potential customers through their regional centers across the country and developing them with their experienced staff. People’s Bank has the largest outreach with specialized regional credit units to evaluate the proposals and develop customer relationships through its largest branch network.

People’s Bank marks 59th anniversary with series of religious programmes

People's Bank celebrated its 59th Anniversary on 1st July and in order to commemorate the occasion, the Bank's Buddhist Association, Hindu Association, Muslim Majlis and Christians Guild held a series of religious programs at the People’s Bank Head Office.

The meritorious event organized by the People’s Bank Buddhist Association was held on 3rd and 4th July at the People's Bank Head Office. As part of this, an all-night ‘Pirith’ sermon and reciting of the 'Rathana Suthraya' was carried out on 3rd July while on the next day the offering of ‘Heel Danaya’ to the monks took place. Along with this, religious activities organised by the Hindu Association, Muslim Majlis and Christians Guild took place on 6th July on the 3rd floor of the Head Office premises.

The religious ceremonies were organised to invoke blessings on the nation, people, customers, pioneering leaders who established People’s Bank, former and present staff members, as well as to protect the people of the country and the world, including healthcare workers, tri forces and the Police from the COVID-19 pandemic. The People’s Bank Chairman Sujeewa Rajapakse, Chief Executive Officer / General Manager Ranjith Kodituwakku, current bank staff and some of the Bank’s retired staff members took part in the activities.

People’s Bank celebrates 59th anniversary with Isuru Udana gifts of love

People’s Bank made arrangements to mark the occasion of the 59th anniversary of the Bank by presenting an Isuru Udana gift certificate to every child born in the country between 1st July and 31st December. A special event to celebrate this was held on 1st July at the Castle Street Maternity Hospital for Women in Borella under the patronage of People’s Bank Chairman Sujeewa Rajapakse and Chief Executive Officer / General Manager Ranjith Kodituwakku.

People's Bank also made a financial contribution for the refurbishment of the restroom for mothers as well as for the compiling of the handbook given to new mothers.

During the event Isuru Udana certificates and gifts for new born babies were handed over to their mothers. The ceremony was attended by Dr. Pradeep Wijesinghe - Director and Dr. Pradeep Ratnasekara - Deputy Director of the Castle Street Maternity Hospital in Borella, K.B. Rajapakse - Senior Deputy General Manager (Retail Banking), Renuka Jayasinghe - Deputy General Manager (Retail Banking), Rohini Madurawala -  Assistant General Manager(Channel Management), A. Jayasith - Acting Assistant General Manager (Retail Banking), N.K. Wimalasiri - Colombo South Regional Manager, Assistant Regional Managers, Sanjaya Abeykoon - Manager Borella Branch, together with staff members from the hospital and the branch.

People's Bank organised this event in parallel with the Bank's 59th anniversary and with the objective of providing the parents with a financial goal to aim for when it comes to the future of their children. A notable feature of the event was that People's Bank staff members actively participated by visiting the hospital all island to personally hand over the gifts to the parents of the newborn babies.

You can present the Isuru Udana gift certificate along with your child's birth certificate at the nearest People’s Bank branch and open an Isuru Udana Children’s Savings Account. At the time the account is opened, People's Bank will make an initial deposit of Rs.1,000/- while special gifts will be made available for additional deposits.

People’s Bank marks 59th anniversary celebration empowering MSME’s islandwide

The 59th anniversary of People's Bank was celebrated on 1st July and to mark this occasion a special ceremony was organized at Marandagahamula Branch where 59 Aswenna as well as 59 'Saubagya COVID-19  loans were granted to customers of the branch. All loans were granted with the participation of People’s Bank Chairman Sujeewa Rajapakse and Chief Executive Officer / General Manager Ranjith Kodituwakku. These loan schemes were introduced to support the Government's development programme and with the aim of uplifting the small and medium businesses adversely affected by the COVID-19 pandemic.

Vanitha Saviya loans, introduced by the Bank to empower female entrepreneurs, were also handed over during the event. Additionally, the handing over of the first cash deposits by two new entrepreneurs who opened Aswenna accounts was carried out.

One of the notable features at the event was the agriculture-based setting that was created within the Marandagahamula branch premises to match the concept of the Aswenna account. The Aswenna loan scheme, a unique product that aligns with the Government’s development programme to create a self sufficient nation, was launched in Dunagaha which is close to the Marandagahamula branch.

Krishani Narangoda - Deputy General Manager (Enterprise Banking), U.S. Gerty - Assistant General Manager (Development Finance), Wickrama Narayana - Assistant General Manager (Small & Medium Enterprises), A.U.A. Anzar - Assistant General Manager (Marketing), Nalin Pathirage - Gampaha Regional Manager and G.M. Kanchana Jayaweera - Marandagahamula Branch Manager, staff members , as well as U.W. Thanuja Upeksha Rajakaruna - Divulapitiya Divisional Secretary and U.P.S. Priyantha - Chief Inspector of Divulapitiya Police station graced the occasion along with officials from the Government and farmers associations.

People's Bank celebrates 59 years of devotion to the people of Sri Lanka

As The Bank of the People, People’s Bank marks its 59th anniversary on the 1st of July. With the passing of this latest milestone, it is clear that amongst all the state-owned commercial banks in Sri Lanka, People's Bank boasts of a different identity. In 1961, People’s Bank became the country's state-owned commercial bank having been established under the People’s Bank Act No. 29 of 1961. The bank’s formation was driven by Minister T.B. Ilangaratne who served as the Minister of Trade, Food, Cooperative and Shipping in the then government of Hon. Prime Minister Sirimavo Bandaranaike and it started off operations under the Chairmanship of Vincent Subasinghe. The people of Sri Lanka, irrespective of race, religion, caste or creed, rallied around People's Bank and as a result cooperative bank branches islandwide were converted into People's Bank branches. Subsequently, having been established as a licensed commercial Bank under the Banking Act No. 30 of 1988, People's Bank has become a bank that is close to the hearts of the general public by offering a wide variety of specialised banking and financial services to its customer base.

Sharing his thoughts, Sujeewa Rajapakse – Chairman of People’s Bank stated, “During the past 59 years, People's Bank's historical journey has seen it sustain its leadership and status while securing its position as a preferred choice among the Industrial Sector of the country. A large number of local entrepreneurs have made rapid progress in their fields of business by obtaining finance loans from the Bank. Entrepreneurs who have built their reputation in industries such as apparels, construction, agriculture, imports and exports, real estate, food & beverage, health services, manufacturing, energy, fisheries, tourism, transport and communications are among them. The Bank has been able to successfully provide various types of business loan services to perfectly suit the varying needs of each of these entrepreneurs. Another reason for the success of People's Bank can be attributed to the short-term and long-term loans at concessionary interest rates provided for Small and Medium-scale Enterprises (SMEs) as well as various types of loan schemes provided to uplift the self-employed.”

Expressing his views, Ranjith Kodituwakku - Chief Executive Officer / General Manager of People's Bank stated, “Over the course of the past 59 years, the Bank has continued to perform a leading role in the Banking and Finance sector, meeting and even exceeding expectations in terms of services to the general public.

Due to the unexpected, adverse impact of the COVID-19 outbreak, the Sri Lankan economy has been slowed down since mid-March. With the gradual reopening of the country and easing of restrictions, People’s Bank took on the responsibility to help the economy bounce back rapidly through an injection of much-needed funds via bank loans with attractive financial solutions. As a result, the Aswenna Loan Scheme was launched to benefit small and medium-scale agriculture, fisheries, other crops and livestock development. The Bank also introduced a number of new loan schemes along with special concessionary interest rates for a large cross-section of groups with most of the loan schemes offering single digit interest rates. These groups included doctors, dentists, vets, engineers, architects, accountants, IT professionals/software engineers, healthcare professionals, school teachers, university staff members, university students and even artists. Additionally, the Bank introduced a loan scheme to provide loans to SME businesses with an interest rate of just 6%. It was launched in parallel with the 'Saubagya COVID-19 Renaissance Facility' of the Central Bank of Sri Lanka (CBSL).’’

With the spreading of the COVID-19 Novel Coronavirus, a large number of our valued customers faced great difficulties and we believe that the service we provided them would help the general public understand the gravity of the current situation. Even during the curfew periods, People’s Bank were able to keep a large number of our branches open as we understood the importance of giving priority to the needs of the people. Mobile Banking Unit, which consisted of all technological facilities, was deployed rapidly to provide the necessary banking and finance services to our customers at their doorsteps.

With the spreading of the Coronavirus People’s Bank ensured that our valued customers did not face any difficulties by taking the necessary steps to provide all the concessions declared in the gazette by the Central Bank of Sri Lanka.

The People's Bank Corporate Banking Division provides various banking services to corporate customers and by maintaining close ties with representatives across the globe the Bank is able to provide financial and advisory services to corporate customers that conduct international trade. People's Bank customers have great confidence in the Bank when sending money from foreign countries to Sri Lanka as well as when sending money abroad through foreign remittance facilities. Among them, services such as People's eRemittance, People's Instant Remit, Swift and Western Union stand out.

People's Bank’s latest data shows that at present the Bank has a network of 737 branches across the country serving a total of over 10 million customers. With the objective of providing a highly-efficient service to customers by leveraging the latest technology, all the branches of People's Bank are now inter-connected. While these branches are located in every town, district and province across the island, the network has grown to a total of 755 Automated Teller Machines (ATMs), 270 Cash Deposit Machines (CDMs) and 220 Kiosks. With the aim of providing greater customer convenience, People's Bank has extended the ATM network beyond the Bank's existing network to as many as over 4,000 ATMs by entering into a partnership with Lanka Pay network. The Bank has also deployed a Mobile Banking Unit complete with computers and teller machines to enable customers to carry out their banking in any location across the island. The Bank's workforce of around 8,000 is highly-experienced in different areas of the banking industry. Their expertise and outstanding performance is what propels the Bank forward towards greater success. Forging ahead in its mission to digitally empower the nation, People’s Bank established Sri Lanka’s first-ever ‘School Banking Unit with CDM’ at several schools in a bid to extend banking facilities to students for enhanced convenience and safety, while inculcating the savings habit.

Among the many banking services that People's Bank offers to customers, one unique service that has gained the love, respect and trust of customers is the various savings accounts the Bank has introduced for individuals from different age groups ranging from young children to senior citizens. These savings accounts offer attractive, competitive interest rates and provide maximum returns and security. As a result, Isuru Udana, Sisu Udana, YES, Vanitha Vasana, Parinatha, Jana Jaya, Investment Savings Account and ‘Aswenna’ savings and Investments Account have attracted a large number of customers. The People's Bank current account has also gained in popularity among customers.

Moreover, customers have also demonstrated their preference for growing their savings by investing in fixed deposits introduced by People's Bank. The customers have shown great confidence in fixed deposits by People's Bank as it provides the security of a state bank while also offering a higher interest rate.

Another notable service offered by People's Bank is the pawning service that emphasizes the security and trust of a state bank. Customers are able to avail themselves to the best price and lowest interest rate in the market together with the ability to recover their item by paying in instalments.

People's Bank aims to turn customers' hopes into reality by leveraging the power of new technology and the latest trends in the banking and finance industry at every opportunity. Resultantly, People's Bank has become a pioneer in the digitalisation of banking services in the banking and finance industry in the country. People's Bank has utilised the world's most modern technologies as the basis for its digitalisation thereby enabling the bank to come to the forefront of the banking sector by becoming the first bank to introduce this state-of-the-art technology. While a majority of banking services is entering the digital age, People's Bank is a leader in this transformational journey. One of People's Bank's key objectives is to become the leading bank in Sri Lanka by driving the digitalisation process by achieving the highest of international standards and thereby becoming a customer-centric bank that further enhances its inherent qualities such as convenience, quality and trust.

People's Bank has introduced a host of new banking experiences to customers through the “People's Wave” Mobile Banking App and the “People's Web” Internet Banking facility. By tying up with mobile operators such as Dialog, Mobitel and Etisalat, People's Wave Mobile Banking service allows customers to carry out bank transactions and make bill payments by using their smartphones, without having to visit the bank branch.

People's Bank is a bank that has won countless awards on the national and international stage. Each and every award highlights the extent to which the world-class services provided by the Bank have impacted the lives of the people of the country. The Bank has obtained a rating of AA+(lka) from Fitch Ratings Lanka and an AAA- from Brand Finance Lanka. In the 17th Annual review of Sri Lanka’s Most Valuable Brands published by Brand Finance Lanka, People’s Bank retained its No. 3 ranking having also increased its brand value by 1.4% to LKR 46.1 billion. People's Bank has continued to showcase Sri Lanka's banking expertise on the global stage and won numerous accolades at prestigious international awards such as the European Global Banking and Finance Awards and World Finance Banking Awards, ranked the 400th Largest Bank in Asia as per the Asian Banker Magazine and included in the World’s Top 1000 Banks by the Banker Magazine (UK). At the annual SLIM-Nielsen People's Awards, People's Bank has won "People’s Banking Service Provider of the Year", "People’s Service Brand of the Year" for 14th consecutive years. In addition to this, at the National Business Excellence Awards, People's Bank was declared the "Winner - Banking Sector", making it yet another one of the prestigious awards the Bank has won in recent years.

The associate and subsidiary companies of People's Bank's include People's Leasing and Finance PLC, People's Merchant Bank Limited, People's Travels Limited and People's Insurance PLC. These companies provide service excellence to their customers, further extending the passion and commitment demonstrated by People's Bank.

The current Chairman of People's Bank is Sujeewa Rajapakse, a Senior Chartered Accountant with vast experience in all accounting and auditing standards and practices, government regulations related to financial disciplines and ethics, human resource management and overall management practices and principles in both private and public sectors. The Directors of the Bank include Malindu Ranasinghe, Sudarshan Ahangama, Manjula Wellalage, Kumar Gunawardena, Keerthi Goonatillake, Isuru Balapatabendi and K.A. Vimalenthirajah, all of whom are experienced professionals from different fields of expertise.

People's Bank set to boost small and medium businesses with Rs.15 billion allocation for loans at 6%

In line with the Government's development programme and with the aim of uplifting the small and medium businesses adversely affected by the COVID-19 pandemic, People's Bank has introduced a special loan scheme with an interest rate of just 6%. The Bank has allocated Rs. 15 billion for this purpose.

The unexpected impact of the COVID-19 outbreak is a significant threat to the economy of Sri Lanka. In order to curb the spread of this deadly virus, the entire country went into lockdown on 16 March 2020 causing a slowdown in the country's economy. As a result, micro, small and medium-scale businesses that included agricultural, fisheries, manufacturing, livestock, construction, other crops and several other industries were negatively affected.

People's Bank has come forward to bear the responsibility of providing much-needed financial solutions to these industries that have been adversely affected in this manner so that they can move towards a rapid economic recovery. As a result, in accordance with the clear guidelines and direction of the Government, the Chairman and Board of Directors together with the management of the Bank have made arrangements to introduce a number of new loan schemes, with many offering single-digit interest rates, to bring financial relief to the various industries that have been affected.

People's Bank introduced this loan scheme to provide loans to businesses in parallel with the 'Saubagya COVID-19 Renaissance Facility' of the Central Bank of Sri Lanka (CBSL).

Companies involved in manufacturing, agriculture, small industries, information technology, tourism, tea and logistics are all eligible to obtain these loan facilities. The scheme offers up to a maximum of Rs. 10 million with a 3 year repayment period.

People’s Bank has made arrangements to disburse these loans through its islandwide network of 737 branches. Further information can be obtained from the nearest People’s Bank branch.

Ranjith Kodituwakku New CEO/GM at People’s Bank

Ranjith Kodituwakku has been appointed as Chief Executive Officer/ General Manager of People’s Bank with effect from June 19, 2020. He had previously served as the Deputy General Manager (Commercial Banking and Digitalization). The appointment as CEO/GM follows the retirement of M.A. Bonniface Silva – Acting CEO/GM.

Ranjith Kodituwakku has over 37 years of banking experience in a wide spectrum of areas covering Consumer Banking, Commercial Banking, Corporate Banking, Off-shore Banking, Branch Banking, International Banking, Project Financing, Recoveries and Digitalization. He poses extensive local and international training/exposure and has worked in different capacities at different geographical locations.

As the Deputy General Manager for the Bank’s Digitalization initiative, his scope of work encompassed primarily on mapping business requirements to a digital platform by adopting best practices in the industry and re-engineering business processes. During the Period , he holds Deputy General Manager-Digitalization, the Bank has received many prestigious awards/recognitions both internationally and locally including being named “Best digital bank in Sri Lanka” by both the Asian Banker and Asia Money magazines.

Additionally, he has played a key role in the efforts carried out by People's Bank to re-open bank branches in the North with the aim of rebuilding the lives of the people and strengthen the economy of the region. He also took on a leading role in the construction of a large housing scheme close to the sacred Madhu Shrine for families internally displaced by the devastating 30-year civil war - a project which was part of the Bank's Golden Jubilee celebrations.

He also serves as a Director of People’s Insurance PLC, Lankan Alliance Finance Ltd. Bangladesh, Regional Development Bank Sri Lanka, Board of Financial Ombudsman Sri Lanka (Guarantee) Ltd, Credit Information Bureau of Sri Lanka and as an Alternate Director of the Lanka Financial Services Bureau.

Kodituwakku holds a Master’s Degree in Business Administration specialised in Finance from the University of Colombo, Bachelor of Laws (Honours) from the University of New Buckinghamshire, United Kingdom and is an Associate Member of the Institute of Bankers of Sri Lanka.

People's Bank introduces multiple loan schemes to boost Government’s Development programme

Being the bank of the people, People’s Bank bears a great responsibility to assist the Government to re-start the Sri Lankan economy and help the people of the country to get some form of normalcy to their lives.

Due to the unexpected, adverse impact due to the COVID-19 outbreak, the Sri Lankan economy has been at a virtual standstill since 16th March 2020 as the country went into a lockdown to curb the spread of the deadly virus. As a result this, most of the sectors got badly affected, including Agriculture, Fisheries, Livestock, Construction, Other Cultivation, Micro, Small and Medium industries, Education and many others.

Given this unfortunate turn of events, People’s Bank took on the responsibility to assist all of these sectors to bounce back rapidly through an injection of much-needed funds via bank loans with attractive financial solutions. As a result, in accordance with the clear direction and guidance of the Government, the Chairman and Board of Directors together with the management of the Bank have introduced a number of new loan schemes along with special concessionary interest rates for the following sectors with most of the loan schemes offering single digit interest rates.

The "Special Financial Service package for Young Professionals" has been introduced for the benefit of young professionals (18-40 years) who are looking for funds to buy a plot of land, build a new house, furnish a home, buy a vehicle, pursue higher education and other similar aspirations. Professionals eligible for this loan scheme include doctors, dentists, vets, engineers, architects, accountants, IT professionals/software engineers etc.

The "Special loan scheme for Government Medical Officers/Government Dental Surgeons" was introduced to show appreciation and provide financial assistance to the dedicated healthcare workers who made significant sacrifices by working tirelessly during the COVID-19 outbreak. Healthcare professionals eligible for this loan scheme include specialists, consultants, medical officers, internship medical officers, nurses and other health sector staff.

People's Bank has also provided a number of new concessions to teachers in terms of loan amount and repayment period in the "Gurusetha" Loan Scheme. Accordingly, permanent teachers in Government Schools, Government Technical Colleges, Pirivenas and Government-approved private schools and even teachers in permanent cadre under probationary period are benefitting from these concessions.

A laptop/PC/tablet loan scheme was also introduced by the Bank for teachers with the aim of promoting e-learning in the Education sector. Eligible individuals include permanent teachers in Government schools, pirivenas and Government-approved private schools, teachers in technical colleges as well as Buddhist monks. Similarly, the "Laptop/PC/Tablet loan scheme for Undergraduate of Medicine, Engineering and IT faculties of Universities" is a special loan scheme introduced to enhance the online education platform that was caused by the closure in the Education Sector due to the COVID-19 pandemic. Through this scheme, students from all Government universities/institutions under the University Grants Commission (UGC) as well as higher educational institutes recognized by the UGC were given the means to acquire a laptop, PC or tablet.

The Bank also unveiled a special loan scheme for the staff members of all universities under the University Grants Commission (UGC). Through this scheme, senior professors, professors, associate professors, senior lecturers, university medical officers, lecturers, probationary lecturers, secretary/UGC, registrar/additional secretaries, accountants, bursars, deputy/senior asst./asst. registrars/bursars, sub wardens, supervisory and primary grade semi and unskilled workers are eligible for loans up to a period of 10 years. The Bank also rolled out a special loan scheme for Judges of Judicial Services where they can obtain loan facilities for up to 10 years.

Artists are another group that has been adversely affected by the outbreak. Following the direction of the government, People’s Bank immediately introduced a special COVID-19 relief loan scheme for members of the Artist Associations.

People’s Bank has made arrangements to disburse these various loan schemes through its islandwide network of 737 branches. Further information can be obtained from the nearest People’s Bank manager.

People’s Bank Ties up with Toyota Lanka (Private) Limited to mark another strong relationship in Corporate Sector.

People’s Bank has entered into a strategic alliance with Toyota Lanka (Private) Limited to provide Corporate Solutions.The tie-up will help to leverage People's Bank's state-of-the-art Corporate Digital Solutions to fulfill local and international financial requirements of Toyota Lanka.

An agreement announcing the strategic alliance was exchanged by Sujeewa Rajapakse - Chairman of People's Bank and Manohara Atukorala-Managing Director/Chief Executive Officer of Toyota Lanka, People’s Bank Head Office in Colombo 2 recently. Toyota Lanka is the Sole Authorized Distributor for Toyota & HNO vehicles in Sri Lanka and a fully-owned subsidiary of Toyota Tsusho Corporation (TTC), Japan and therefore a global member of the prestigious Toyota Group Japan. M.A. Bonniface Silva-Acting Chief Executive Officer/General Manager of People’s Bank, Gayan Karunarathne-Senior General Manager-Finance, Administration &ICT -Toyota Lanka, Damitha Gunaratne – Senior Unit Head- Finance, Chathura Dharmasiri – Deputy Manager –Marketing, Niroshan Rajapaksha– In Charge Treasury & Banking, Lionel Galagedara, Deputy General Manager(Channel Management)of People’s Bank, A.U.L.A Anzar. - Assistant General Manager(Marketing),Shyana Jumat - Manager – People’s Elegance Branch)were present at the event.

People's Bank has opened an ATM at Toyota Lanka Head office in Wattalato create aconvenience for customers and employees of Toyota Lanka. In addition to the standard features, the state-of-the-art ATM offers cardless cash transactions and with drawals and modified to better suit customer needs. Through this strong partnership,customers and staff of both organizations will be mutually benefitted enjoying attractive product and service offerings.

Expressing his opinion on the strategic alliance, Sujeewa Rajapakse - Chairman of People's Bank stated,“We are pleased to offer People's Bank state-of-the-art banking solutions to Toyota Lanka employees and dealers. This strategic partnership will help transform the way all of them carry out their banking by bringing a wide range of fast, hassle-free digital banking services right to their doorstep..”

Manohara Atukorala, Managing Director/Chief Executive Officer, Toyota Lanka stated “Today we marked another milestone in our corporate relationship. I hope this strong bond with the largest bank with widespread branch network in the country, will bring us great opportunities to enhance our business digitally and reach more customers through people’s bank strong island widebranch network and employee base”

People's Bank offers Poson almsgiving to devotees observing Sil

People’s Bank, together with People’s Leasing & Finance, joined hands to provide breakfast(Heel Dāna)  to a limited number of devotees observing Sil at Anuradhapura's sacred Sri Maha Bodhi and Ruwanweli Maha Seya once again. People's Bank has been organising this event for over 3 decades.

While there were only a limited number of devotees observing Sil in Anuradhapura due to the ongoing COVID-19 pandemic, People's Bank ensured that all relevant health guidelines were strictly adhered to during the event. In addition, the Bank has organised the "Aloka Pooja” illumination ceremony at Ruwanweli Maha Seya for 3 days.

The event was organized under the guidance of the Chief Incumbent of Atamasthaana Ven. Dr. Pallegama Sirinivasa Thero and the Chief Incumbent of the Ruwanweli Seya Ven. Pallegama Hemaratana Thero. Sujeewa Rajapakse - Chairman, Bonniface Silva - Acting Chief Executive Officer / General Manager, Mahinda Premanath - Deputy General Manager(Banking Support Services), Chandrika Nissanka - Regional Manager(Anuradhapura) and a large number of People’s Bank’s staff members also took part in the event.

To commemorate the Poson Poya a sapling planting programme took place within the sacred precincts of the Sri Maha Bodhi.

Annual Report of People's Bank proffered to Hon. Prime Minister Mahinda Rajapaksa

People's Bank's Annual Report for the year 2019 was presented to Hon. Prime Minister Mahinda Rajapaksa by People's Bank Chairman - Mr. Sujeewa Rajapakse at the Prime Minister’s official residence in Wijerama, Colombo 07 recently.

Also present at the event was Acting CEO/GM of People's Bank - Mr. Bonniface Silva and Head of Finance of People's Bank -  Mr. Azzam A. Ahamat.

People's Bank slashes interest rates to uplift entrepreneurs

In keeping with the government's guidelines to uplift local entrepreneurs, and with the aim of uplifting businesses that are struggling as a result of the COVID-19 pandemic, People's Bank has embraced the responsibility of a state bank and taken steps to immediately reduce the interest rates of industries that contribute directly to the local economy. These industries include agriculture, animal husbandry, related industries, other crops and fisheries fields as well as manufacturing, tourist hotels, exports, development and microfinance and cooperative divisions.

Accordingly, in terms of agriculture, animal husbandry, related industries, other crops and fisheries fields, the 13% interest rate applicable for loans of up to Rs.1 million (up to 3 years) has reduced to 9.50% and if more than 3 years to 9.75%, while the current 14% interest rate for loans over Rs.1 million has reduced to 13.50%. In the manufacturing industry, the 13.50% interest applicable to loans of up to Rs. 1 million (up to 3 years) has dropped to 9.50% while the interest rate for loans above 3 years has dropped to 9.75%.

In the Hotels and Tourism industry, the 14.5% interest rate applicable for loans of up to Rs.1 million has reduced to 9.50% (up to 3 years) and 9.75% (more than 3 years) whereas the 16.75% interest rate applicable for loans of more than Rs.1 million has reduced to 14.50% (up to 3 years) and 16.25% (more than 3 years).

In terms of export remittances, the interest rates of 12.5% for up to Rs.1 million for Trust credit receipts, short term loans, pledge loans and packing credit loans has been reduced to 9.50% while the interest rate for over Rs.1 million has been reduced to 12%.

In the development and micro finance field, under New People's Fast Loans the interest rate for micro enterprise loans of a maximum of up to Rs.250,000 has dropped from 13.5% to 9.50% while interest rates for small enterprise loans of up to Rs. 1 million has dropped from 13.50% to 12.75% and interest rates for medium enterprise loans of up to Rs. 20 million has been reduced from 13.50% to 13%.

In the Cooperative Movement industries, the interest rates of 11.50% for animal husbandry and agri-oriented projects of up to Rs. 1 million has been reduced to 9.50% and for projects over Rs.1 million it has been reduced to 11%.

People’s Bank holds yet another successful Aswenna concessionary loan granting ceremony in Anuradhapura

People’s Bank has introduced the Aswenna loan facility with the intention of supporting the Government’s development program of making Sri Lanka sustainable again. This was introduced simultaneous to the government initiative of supporting the agricultural sector. Yet another phase of this loan granting scheme took place at Kirindiwatte in Galnewa, Anuradhapura recently.The occasion was graced by People’s Bank Chairman Sujeewa Rajapakse  and Acting CEO/General Manager Bonniface Silva.

The event saw the distribution of passbooks to farmers who have opened new Aswenna savings and Investments accounts, alongside granting loans for many agricultural activities such as purchasing new cultivation lands, purchasing tractors and other agricultural equipment, purchasing seeds and the development of infrastructural facilities. Furthermore, under People’s Bank’s green banking concept plants were distributed amongst farmers who opened new accounts and subscribed to the Aswenna loan scheme.

Assistant General Manager (small & medium scale loans) Wickrama Narayana, Assistant General Manager (Marketing) A.U.A Anzar, Anuradhapura Regional Manager Chandrika Nissanka, and many other officers and staff members of People’s Bank and many members of the farming community were present at this occasion.

At the conclusion of the distribution ceremony the Chairman, CEO/General Manager, management and the officials of People’s Bank visited the Atamasthanadhipathi the most Venerable Dr.Pallegama Sirinivasa Thero and the Chief Incumbent of Ruvanvelimahasaya Venerable Pallegama Hemarathana Thero to seek their blessings and to apprise them on the Sustainable initiative of the Government and the contribution of People’s Banks to this Sustainable cause through the Aswenna loan facility.

People's Bank joins hands with the Institute of Chartered Accountants of Sri Lanka to introduce special relief loan scheme for their COVID-19 affected members

People’s Bank has tied up with the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) to provide a special COVID-19 relief loan scheme to members of the CA Sri Lanka whose revenue has been negatively affected due to the COVID-19 pandemic.

A Memorandum of Understanding (MOU) signifying the partnership was signed and exchanged by M.A Bonniface Silva – Acting Chief Executive Officer/ General Manager, People's Bank and  Manil Jayesinghe – President, CA Sri Lanka at an event held at People’s Bank Head Office in Colombo 2 recently.

Also present on the location; Sujeewa Rajapakse  – Chairman, People’s Bank, K.B. Rajapakse - Senior Deputy General Manager (Retail Banking), Renuka Jayasinghe - Deputy General Manager (Retail Banking), Ranjith Kodituwakku – Deputy General Manager (Commercial Banking and Digitization), T.D.De.Z Gunawardena – Assistant General Manager(Credit), A.U.L.A Anzar - Assistant General Manager(Marketing), Tishan Subasinghe - Senior Coucil Member CA Sri lanka, Sanjaya Bandara - Vice President, Dulani Frenando – CEO.

The COVID-19 pandemic has negatively impacted business activities across the country, including self-employment businesses and individuals, at unprecedented levels. In order to mitigate the impact, the Government of Sri Lanka has taken numerous positive steps including introducing several concessions to many industries. With the aim of providing support to the Government's initiatives, People's Bank introduced this special loan scheme for CA Sri Lanka that goes beyond the concessions given by the Central Bank of Sri Lanka (CBSL).

Under this loan scheme, several categories of CA Sri Lanka members are entitled to apply for a loan. These include members employed in the private sector or self-employed as well asaccounting firms run by the members of CA Sri Lanka. Firms can utilise the loans for working capital purposes such as to pay salaries and wages while self-employed businesses and individuals can use the funds to supplement income loss caused by the COVID-19 pandemic. The maximum loan amount is Rs. 20 million.

CA Sri Lanka is known as the preferred destination for accountancy education in the country with 6,000 Associate and Fellow Members based both locally and globally. The portfolio of CA Sri Lanka members comprise of top management individuals such as Chairmen, Partners, Managing Directors, Vice Presidents, CEOs and CFOs, among other high profile designations, who serve in leading corporates in Sri Lanka and abroad. The institute also has over 44,000 Student Members who are aspiring Chartered Accountants.

Serving the Sri Lankan’s over 58 years, People's Bank is one of the largest financial institutions in the country. Through its massive network of 738 branches island-wide, People's Bank has reached more than 10 million customers offering a wide spectrum of financial services. The bank also provides its services 24 hours a day, 7 days a week and 365 days a year via its Self-Banking Units: amounting over 200 across the island. This helps People's Bank customers to conduct numerous banking transactions with utmost efficiency, without requiring to visiting a bank branch in person.

People’s Bank also continues to play a pivotal role in encouraging and empowering scores of industries including commercial, development, agriculture, small and medium enterprises, Corporate as well as import and export sectors; supporting a holistic development of communities throughout the island.

People's Bank makes special arrangements for senior citizens at all branches

People’s Bank has taken steps to ensure that senior citizens who visited any bank branch on 2nd, 3rd and 6th April to claim their pensions were given a special service in a safe, hygienic environment in the wake of the difficult situation in the country caused by the Coronavirus pandemic. Accordingly, arrangements were made to keep a minimum of one metre distance between senior citizens who visited the branches with the help of the security forces. Senior citizens who had to line up outside the branch as they waited for their turn were shielded from the hot sun by temporary shelters that were put up outside of the branches. All branches and Self Banking Units (SBUs) were provided with facilities to clean hands using soap and running water or liquid hand sanitiser. People’s Bank officers, together with security officers, guided the customers while all employees wore face masks to ensure everyone’s protection. Specially-trained cleaning staff was made available to maintain a high level of hygiene in all branches and SBUs. Senior citizens were highly appreciative of these special arrangements made by People’s Bank.

People's Bank distributes over Rs.150 million to customers in 10 days via its Mobile Banking Vehicle

People's Bank’s Mobile Banking Unit, which was launched with the objective of bringing banking services to the doorstep of customers who were unable to visit the bank due to the curfew situation caused by the Coronavirus, was successfully able to disburse over Rs.150 million to over 10,000 customers during the 1st to 10th April period.

The Mobile Banking Unit was launched by People’s Bank to extend its fullest support to the Government’s ongoing efforts to combat the Coronavirus spread in the country. The initiative was spearheaded by People’s Bank Chairman Sujeewa Rajapakse and Acting Chief Executive Officer / General Manager Boniface Silva together with the support of the management and was carried out with the great care necessary of such an effort. In keeping with their advice and guidance, the Bank’s staff dedicated themselves by working tirelessly day and night to serve their valued customers and their admirable efforts were applauded by the grateful customer base. The Bank’s staff was able to provide a safe, hygienic environment and serve every single customer irrespective of the time of day.

The Mobile Banking Unit travelled to the customers’ doorsteps and consisted of an ATM and a cash deposit counter, allowing them to conveniently deposit and withdraw cash.

The Mobile Banking Unit will be continued in all areas where curfew is enforced while the Bank is making plans to expand its services and provide customers with new Mobile Banking experiences.

People's Bank launches Aswenna loan scheme to guide the nation towards self sufficiency

People’s Bank has launched the Aswenna loan scheme, a unique product that is in line with the Government’s development programme to create a self sufficient nation. The first Aswenna loans were ceremoniously handed over to the loan recipients by People’s Bank Chairman Sujeewa Rajapakse and Acting Chief Executive Officer / General Manager M.A. Boniface Silva at a ceremony organised in Dunagaha in the Gampaha District.

The loans were distributed for the purchasing of paddy fields, purchasing of seeds and raw material for agriculture, purchasing of machinery, development of underlying infrastructure and animal husbandry. Additionally, new customers who had opened accounts for agriculture, other crops and animal husbandry were officially handed over their Aswenna savings and investment account passbooks.

K.B.  Rajapakse - Senior Deputy General Manager (Retail Banking), Renuka Jayasinghe - Deputy General Manager (Retail Banking), Krishani Narangoda - Deputy General Manager (Enterprise Banking), U.S. Gerty - Assistant General Manager (Development Finance), Wickrama Narayana - Assistant General Manager (Small & Medium Enterprises), A.U.A. Ansar - Assistant General Manager (Marketing) and Nalin Pathirage - Gampaha Regional Manager graced the occasion together with officials from the Government, Govijana Sewa and farmers associations.

From ancient times, Sri Lanka had an agro-based economy where small and medium-scale agriculture, fisheries, other crops as well as animal husbandry have thrived and made a significant contribution to the country’s economy. People’s Bank has introduced the Aswenna loan scheme to provide a timely boost to the financial capabilities and enhance the lifestyles of the individuals involved in these segments and in keeping with the Government’s development efforts.

Under this scheme, People’s Bank has facilitated financial services for the purchasing of paddy fields, purchasing of seeds and raw material for agriculture, purchasing of land and machinery, development of underlying infrastructure, purchasing of boats for fisheries as well as for animal husbandry. Further information can be obtained from the nearest People’s Bank manager or manageress.

A financial donations to the COVID-19 Healthcare and Social Security Fund from the People’s Bank Group and the People’s Bank Pensioners Association

A financial donations were made to strengthen the COVID-19 Healthcare and Social Security Fund, by the People’s Bank Group and the People’s Bank Pensioners Association at the President’s Office on 31st of March 2020. The relevant cheques were handed over to the President’s Secretary Dr. P. B. Jayasundera.

Chairman of People’s Bank - Sujeewa Rajapaksa, Acting Chief Executive Officer/ General Manager - Bonniface Silva, Chief Executive Officer and General Manager of People’s Leasing and Finance Company - Sabri Ibrahim, President of the People’s Bank Pensioners Association  - Harshalal Jayawardena, Secretary - Wijayasiri Mihindukulasooriya and Treasurer - M. J. P. Gunawardena were present at this occasion.

People’s Bank Group and the Pensioners Association of People’s Bank made a donation to the COVID-19 Healthcare and Social Security Fund established under the initiative of Honourable President Gotabhaya Rajapaksa to control the spread of the Corona or COVID-19 Virus within the country and to facilitate social welfare tasks in conjunction with this, considering that, when an emergency situation has arisen in the country, it is a responsibility as a leading State Bank to contribute towards uplifting health and social conservation and thus uplifting the lives of Sri Lankans. People’s Bank is committed to providing its maximum contribution and cooperation to the Government of Sri Lanka and citizens of Sri Lankans during the re-building process in the future once this emergency situation has passed.

People’s Bank Annual Inter Branch / Department Quiz 2020

The 17th Annual Inter Branch / Department Quiz programme organized by International Banking Division was successfully held at the Golden Rose, Boralesgamuwa recently with the participation of 102 teams. The objective of the quiz was to enhance the overall knowledge of the Bank’s staff. This programme was held under the patronage of Sujeewa Rajapakse – Chairman, People’s Bank and M.A.Bonniface Silva- Acting CEO/GM together with the Corporate & Executive management.

The Champions Colombo Outer – Team A who were awarded the CEO/GM Trophy, the 1st Runners-up, Banking Operations; 2nd Runners – up, Sri Sangaraja Mawatha Branch; 3rd Runners-up; Internal Audit & 4th Runners-up, Treasury Front Office – Team A.

People’s Bank wins People’s Choice for 14th Consecutive year at SLIM Neilson People’s Awards 2020

The Bank of the People, People’s Bank re-affirmed its status securing “People’s Service Brand of the Year” and “People’s Banking Service Provider of the Year” awards for the 14th consecutive year at recently concluded SLIM Neilson People’s Awards 2020. People’s Awards is the main award ceremony in the country which appreciates & rewards the true choice of the people annually, organized by the Sri Lanka Institute of Marketing (SLIM) and the AC Nielsen - a leading global information and measurement company.

Newly appointed People’s Bank Acting Chief Executive Officer/General Manager –Mr. M.A.Bonniface Silva , SDGM-Retail Banking- Mr.K.B.Rajapakse  together with the corporate and executive management of People’s Bank were present at the awards ceremony to triumphantly accept the awards.

Securing twin accolades for the 14th consecutive year is the best indication to showcase the level of trust, the entire nation has put on the Bank and is a matter of immense pride for the entire People’s Bank team, as it is their hard work and dedication that has helped the Bank reach the pinnacle of the banking industry. Serving the nation over 58 years, People’s Bank has claimed assets worth over Trillion Rupees. Spanning across the country with the widespread branch network, it now facilitates over 10 million customers through 24*7*365 days operating Self Banking Units (SBUs). With the objective of providing innovative and convenient banking solutions with complete reliability, People's Bank proceeds forward as a bank of the masses while adding value to their lives.

 

People’s Bank has already taken giant steps to introduce a host of diversified digital banking experience to customers ranging from all walks of life, by delivering ease, speed, efficiency and convenience at every point in their interaction with us. As the ‘Bank of the people’, People’s Bank feels compelled to pioneer industry-firsts to revolutionize the industry and to bring tangible benefits to our customers. Portraying its competencies in the discipline of IT security, the bank has recently won the highest international accreditation for information protection and security – the ISO/IEC 27001:2013 certification and will be continued with the same standard in near future as well.

More significantly, People's Bank has earned loyalty form the people of the country by fulfilling customers’ aspirations, hopes and dreams. The Bank has introduced a number of loan schemes such as Personal Loans, Housing Loans, Professional loans, Educational Loans and Vehicle Loans to uplift living standards of its customers, in addition to supporting their enterprise development. Furthermore, various schemes to support the farming and fishing communities in addition to Small and Medium Entrepreneurs.

People’s Bank Celebrates International Women’s Day

In view of the International Women’s Day, People’s Bank organized a special commemorative ceremony at the People’s Bank headquarters branch with the participation of Mr. Sujeewa Rajapakse – Chairman, People’s Bank, Mr.M.A.Bonniface Silva- Acting CEO/GM,  Members of the Corporate and Executive Management. 

Professor Arosha S Adikaram from Department of Human Resource Management, University of Colombo presented as the chief guest at the event and addressed the gathering on “Importance of women role in the Society”.

During the event, Vanitha Vasana account opening and granting a loan to two customers were demonstrated at the main stage using People’s Wiz digital platform. Also 10,  Vanitha Vasana customer appreciation  was held by admiring their trust on People’s Bank and Vanitha Vasana Account. Participants were also encouraged to open People’s Wiz accounts in line with the banks digitization drive.

Specially produced short film targeting the International Women’s Day 2020 was aired on the digital screen at the event which highlights the interest of women & their aspirations in modern society. This short film is already available in people’s bank social media platforms including bank official Face Book Page. Within very short period this video was able to mark 1Mn views with large customer engagement.

As a result of People’s Bank partnership with Rakuten Viber, specially designed exclusive Vanitha Vasana Stiker pack was released during the ceremony. Official Sticker pack download was done by People’s Bank Chairman, Sujeewa Rajapakse with the assistant of Mr.Mohomed Rilwan, Rakuten Viber Sri Lankan Representative.

In parallel to this event, the International Women’s Day was celebrated at all the branches of People’s Bank island-wide. Bank had made arrangement to live stream this ceremony through its Official Face Book Page. 

People’s Bank partnered with Sri Lanka Telecom PLC (SLT) to strengthen corporate relationship

People’s Bank joined hands with Sri Lanka Telecom PLC (SLT) to strengthen corporate relationship under the leadership of newly appointed  chairmanship of both organizations. A Memorandum of Understanding (MOU) was signed and exchanged between  Sujeewa Rajapakse – Chairman/ , People’s Bank and Rohan Fernando-Chairman/ SLT . This event was held on 27th February 2020 at Colombo.

Rasitha Gunawardane-CEO/General Manager, People’s Bank, K.A. Kiththi Perera CEO)/ SLT, M.B.P. Fernandez COO/SLT and  Corporate & Executive Management members of both parties were present at the event.

Through this MOU , both parties expect  mutual benefits by sharing businesses and creating strong synergies among organizations. People’s Bank will act as custodian bank for SLT and Mobitel providing Corporate & Retail Financial solutions including its employees while SLT provides/ develops IT infrastructure facilities to People’s Bank and acts as the fin-tech solution provider.

“This MOU will lead to create strong business relationships and synergies among both organizations. We expect to continuously get connected with our customers through fin-tech solutions provided by SLT” said, Sujeewa Rajapakse- Chairman / People’s Bank.

Rohan Fernando-Chairman/SLT commented “People’s Bank is having an island wide  branch network & strong financial stability. It provides around the clock banking facility through newly introduced Self Banking Units. As the fin-tech solution provider, SLT will assist them to streamline their operations. Our customers will also have easy access to People’s Bank touch points around the clock to make their bill payments conveniently”.

People’s Bank Overseas Customer Services Organized Bodhi Pooja Pinkama to Invoke Blessings on Sri Lankan Residents Overseas Affected by New Corona Virus

A Seth Bodhi Pooja Pinkama to invoke the supreme blessings of the Triple Gems on protection of our Sri Lankans and all other people worldwide from the Corona Virus spreading in South Korea, Italy, Middle Eastern countries, China and all other countries worldwide was held on 04th of March, 2020 at the Sri Sambuddhaloka Viharaya (Fort, Colombo). Pinkama was held under the patronage of Ven. Prof. Ittademaliye Indrasara Thera, Chief Incumbent of the Sri Sambuddhaloka Viharaya and  Ven. Vitharandeniye Medhananda Thera who performed religious rites and rituals in the Bodhi Pooja at the invitation of the Overseas Customer Services of People’s Bank.

Nipunika Wijerathne, Deputy General Manager (Transaction Banking & Financial Institutions), Anoma Mudduwa, Assistant General Manager (OCS) and Bank staff participated for this program.

At this difficult time,  Overseas Customer Services, being the centre of the Remittances and Foreign Currency Deposits Products of People’s Bank,  believes that it is the  time to be with all of our  Sri Lankans resides overseas, specially the expatriate workforce who provides a major contribution to the country’s national income through their hard earnings.

People’s Bank ties up with Sri Lanka Insurance (SLIC) to provide Corporate Solutions

The Bank of the People, People’s Bank signed an agreement with Sri Lanka Insurance (SLIC), to streamline & strengthen businesses of both parties through  state of the art People’s Corporate Digital Solutions. Official agreement exchange among Sujeewa Rajapakse-Chairman , People’s Bank and  Jagath Wellawatta ,Chairman (SLIC) was on 26th February 2020, at Colombo. Also present on the location Rasitha Gunawardane – CEO/General Manager, People’s Bank, Chandana L. Aluthgama, Chief Executive Officer (SLIC),Corporate and Executive management members of the both parties.

People’s Corporate Digital Solutions are the fully fledged package which includes end to end digital experience to ease Corporate Clients’  busy life. With this,  clients can perform banking transactions with a finger touch instantly anytime anywhere through any smart device. This technology empowers to perform over 30 types of banking transactions around the clock through Corporate Internet Banking (CIB) and Corporate Mobile Banking (CMB).

People’s Bank Corporate Digital Solutions enable organizations to streamline operations and increase efficiency thereby saving time and operational cost while allowing management to have complete control over financial transactions due to availability of online real time monitoring system.

“Today, People’s Bank marked another milestone by signing this agreement with SLIC to provide Corporate Solutions as their banking partner. This initiative sets a good example for synergy creation in between two leading state institutions sharing mutual benefits for both organizations. I hope & all Sri Lankans will receive benefits of this strong relationship in near future”. Said , Sujeewa Rajapakse Chairman , People’s Bank.

Jagath Wellawatta ,Chairman (SLIC) also stated ,” its our pleasure to be partnered with People’s Bank , the & largest bank with widespread branch & net work island wide. We have observed that during past few years ,People’s Bank has been very aggressive in adopting digital technology to its operations. Specially for Corporate sector. This bond will mark a turning point in SLIC history as well”.

People’s Bank empowers Royalists with Self Service School Banking Unit

Inscribing another milestone in the history of People’s Bank Digital transformation Journey, a new self service school banking unit with NFC-enabled Cash Deposit Machine (CDM) was inaugurated at Royal College, Colombo on 26th February 2020. The inauguration ceremony was held at school premises with the participation of Sujeewa Rajapakse -Chairman, People’s Bank,  Rasitha Gunawardane - CEO/General Manager, People’s Bank, B.A.Abeyrathne – Principal, Royal College, M.V.S Gunathilaka- Senior Deputy Principal, People’s Bank Corporate and Executive Management, Officials of Royal College Union & School Development Society.

The main objective of introducing novel this initiative is to allow school children to have digital experiences and inculcate the habit of savings at very young age. As at today , People’s Bank is the only bank in the country with this digital technology and capacity to deploy self service school banking units at schools. This School Cash Deposit Machine has the latest technological features including, Bio metric scanning (Finger Print scanning), NFC technology (Near Feel Communication) and other options. Also all the students are provided with the NFC technology enabled Card that displays their name, photograph and student ID number which can be used to deposit money. This CDM accept notes and coins as deposits. Students can deposit small amount of money in to their SISU Udana Account at their convenience time whenever they save from their pocket money.

Addressing the gathering Sujeewa Rajapakse, Chairman, People’s Bank mentioned that “People’s Bank is very proud to offer this valuable gift to all the Royalists today , which will help to engage with latest digital technology at school age & invited all students to get maximum benefit out of this school banking unit and save as much as possible.

People’s Bank celebrates 72 years of Independence with gifts for children born during the week of Independence

Commemorating 72nd National Day, the head office and all People’s Bank branches organized Independence Day Celebrations Island wide.

The National Day celebration at the People’s Bank head office was held under the patronage of the People’s Bank Chairman Sujeewa Rajapakse and Chief Executive Officer/General Manager Rasitha Gunawardana.

‘Nidahase Upatha’ a programme held by People’s Bank every year on Independence Day was carried out this year as well Under this concept, People’s Bank has made arrangements to gift an ‘Isuru Udana’ Gift Certificate worth Rs. 2000/- to every baby born in the country between the 1st and 7th of February.

This programme was inaugurated by People’s Bank in 2006 with a vision to instil pride and honour towards our motherland as well as to encourage parents to successfully plan the  future with a strong financial foundation of their children. With this Gift Certificate, parents can open an Isuru Udana Children’s Savings Account for the child at the nearest People’s Bank Branch using the amount in the Gift Certificate and maintain the account thereafter. The specialty of this programme is that the staff of People’s Bank visits the hospitals and gift the certificates to the newborns in person. `

The main event of this programme was held in the morning on 4th February at the Castle Street Hospital for Women in Borella under the patronage of People’s Bank Chairman Sujeewa Rajapakse and Chief Executive Officer/General Manager Rasitha Gunawardana. Isuru Udana Gift Certificates and other gifts were offered to parents of newborn babies at these occasions.  The ceremony was also attended by Director of the Castle Street Hospital for Women in Borella Dr. Pradeep Wijesinghe, together with staff of the hospital and the corporate and executive management of People’s Bank.

In addition to the Castle Street Hospital for Women, the Bank had made arrangements to carry out the Birth of Freedom program in hospitals located in Ampara, Anuradhapura, Badulla, Batticaloa, Galle, Gampaha, Hambanthota, Jaffna, Kaluthara, Kandy, Kegalle, Matale, Moneragala, Nuwara Eliya, Polonnaruwa, Puttalam, Ratnapura, Trincomalee, Wanni and Colombo.

People's Bank celebrates Thai Pongal

A special ceremony was organized to commemorate the festival of Thai Pongal at the of People’s Bank Kotahena branch under the patronage of Chief Executive Officer/ General Manager of People's Bank Mr.Rasitha Gunawardena.

At this ceremony a special Hindu Pooja was held to invoke blessings on the country, Customers and Staff of People’s Bank.The Corporate and Executive Management together with the staff and a large gathering of customers were presented at this occasion.

People’s Bank sponsors annual Kelaniya Duruthu Perahera

People’s Bank has stepped forward to support the Kelaniya Duruthu Peraheraof the Kelaniya Raja Maha Vihara, the annual procession that was first inaugurated in 1927 and is popularly known as “Kelani Perahera” among the general public.

The Kelaniya Duruthu Perahera is a historic cultural event that is organized by the Kelaniya Raja Maha Vihara and its “Daayaka Sabhawa”. This spectacular pageant commemorates Lord Buddha’s visit to Sri Lanka during ancient times and is witnessed by thousands of locals as well as foreign tourists.

The pageant displays various ancient traditions and highlights the cultural heritage of the island, consisting of traditional music, dances and drumming that have been built around Buddhist customs found in the country. It is known to be the most popular low-country procession of its kind in Sri Lanka due to its impressive collection of drummers, dancers, torchbearers, acrobats and elephants.Special religious activities such as pirith chanting, Buddhist sermons and other rituals are organized in the Kelaniya Raja Maha Vihara during this period.

In keeping with the Bank’s objective to lend support to preserve and nurture the proud heritage of the country, People’s Bank has always ensured that it is plays an active role in religious and cultural events across the country. The Bank strongly believes that such initiatives will help protect age-old traditions that need to be preserved for future generations.

Official Sponsorship Cheque handing over was held with the participation of The Chief Incumbent of the Kelaniya Raja Maha Viharaya Prof. Kollupitiye Mahinda Sangharakkhitha Thera; People’s Bank Chief Executive Officer/ General Manager Mr.Rasitha Gunawardena handed over the official cheque to  Basnayake Nilame Dhammika Attiygala. People’s Bank Senior Deputy General Manager (Banking Operations) Bonniface Silva, Kelani  Raja Maha Vihara DaayakaSabha Secretary Saman Ranasinghe, Kelani Raja Maha Vihara Sanwardhana Sabha Treasurer Vasantha A.De Silva  also Present.

New Chairman of People’s Bank Sujeewa Rajapakse assumes duties

People’s Bank ceremoniously welcomed its newly-appointed Chairman Sujeewa Rajapakse, to his new role from 8th January 2020. The Senior Chartered Accountant and a Past President of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will steer People’s Bank into a new era to fulfill the aspirations of citizens as the bank that is ‘The Bank of the People’ while aligning its goals to meet the vision of the new Government of Sri Lanka.

A proud alumnus of Richmond College, Galle, Sujeewa Rajapakse has trail-blazed a career as a well-respected Chartered Accountant and is the Managing Partner and the International Liaison Partner (ILP) of BDO Partners, a renowned firm of Chartered Accountants in the country. At present he also serves as an Independent Non-Executive Director of Haycarb PLC, Dipped Product PLC and Softlogic Life PLC.

Sujeewa Rajapakse has held numerous senior positions in the past, serving as a Commission Member of the Securities and Exchange Commission (SEC), Board Member of the National Institute of Business Management (NIBM) and Post Graduate Institute of Management of University of Sri Jayewardenepura (PIM). He was an Executive Committee member of the Organization of Professional Association (OPA) for many years and also a member of the Monetary Policy Consultative Committee of Central Bank of Sri Lanka (CBSL) during 2011 to 2014. He has also served as a board member of National Development Bank (NDB) and was appointed as the Deputy Chairman of The Finance Company PLC by the CBSL under the restructuring programme. He was also a board member of First Capital Group for many years.  

Moreover, Sujeewa Rajapakse is a fellow member of the Institute of Chartered Accountants of Sri Lanka and the Society of Certified Management Accountants of Sri Lanka (CMA). He holds a Master of Business Administration (MBA) degree from the Post Graduate Institute of Management of University of Sri Jayewardenepura and was a council member of the University of Sri Jayewardenepura. He has also been involved with Sri Lanka Cricket and was the Honorary Treasurer for more than six years. He was also appointed as the Hon. Treasurer for Cricket World Cup 2011 by the International Cricket Council (ICC).

People’s Bank Christmas Carols bring joy of the festive season

The Christian Guild of People’s Bank brought seasonal cheer to a large audience as the Annual Christmas Carols were held for the 41st consecutive year on a grand scale at the People’s Bank Headquarters Branch recently.

Staff members from People’s Bank branches of Colombo, Puttalam, Kalutara and Jaffna Regions participated in the event. During the event, People’s Bank staff members also made a special financial contribution to Seth Sarana, which has been setup to help rebuild the lives of those suffering after the Easter Sunday attacks.

The carols were held under the patronage of Rev. Fr. Jude Raj Fernando – The Administrator of St. Anthony’s Church Kochchikade. Rasitha Gunawardana - Chief Executive Officer/General Manager of People’s Bank, together with the corporate and executive management and staff of People’s Bank as well as their family members, attended the ceremony.

People’s Bank inaugurates School Banking Unit with CDM at Mahamaya Girls’ College

Driving forwards its mission to digitally empower the nation and with the objective of introducing the digital banking experience to Sri Lankan schoolchildren, People's Bank launched a School Banking Unit complete with a NFC-enabled Cash Deposit Machine (CDM) at Mahamaya Girls' College, Kandy.

Principal of Mahamaya Girls' College Mrs. H. Senadeera, Vice Principals, Boniface Silva - Senior Deputy General Manager (Banking Operations), D.M.D. Dissanayake - Kandy Regional Manager, Assistant Regional Manager and Manageresses, Janaka Jayasinghe - Kandy Branch Manager, the staff of People’s Bank, teachers from Mahamaya Girls' College and a large number of students were present at the inauguration ceremony.

The objective of setting up this School Banking Unit is to allow schoolchildren to familiarise themselves with banking conveniently and in a secure manner using digital technology while also nurturing the saving habit in them. People's Bank believes in inculcating the saving habit in all children which can pave the way towards a brighter future for them. Having pioneered introducing the saving habit to Sri Lanka's schoolchildren back in 1971, People's Bank launched the country's first School Banking Unit with a CDM at Ananda College, Colombo 10 on World Children's Day 2018.

The People’s Bank School Banking Unit offers students of Mahamaya College an array of services including the facility to deposit coins and cash into their Sisu Udana accounts make balance enquiries as well as make deposits without any banking slip. Additionally, a nifty NFC card designed incorporating the school colours that can also be used as a School ID Card was issued. It displays each student's information such as name, photo and admission number and is the only item required for students to make deposits.

People’s Bank launch ‘Pathumak Thagi Karamu’ campaign in celebration of the literature month 2019

People’s Bank ceremoniously initiated the distribution of donations received from generous and charitable Sri Lankans for bank’s ‘Pathumak Thagi Karamu’ campaign at the B/Kumarapattiya Ambagasdowa Rajakeeya Vidyalaya recently. In parallel, books and reading material were presented to the students in Bandarawela Visaka Central College as well. Many academic tools were also distributed at these events, in addition to books.

‘Pathumak Thagi Karamu’ campaign was launched in the hope of bringing quality reading material closer to the less privileged children of our nation, and is yet another example of People’s Bank being a pillar of strength to all sectors of the society. Through its official Facebook page, bank appealed to its clientele, and all kind-hearted Sri Lankans, to donate any book that they have already enjoyed to their nearest branch. In addition, it was also requested to inscribe a positive wish on the front page, to serve as a source of strength to the child receiving the book.

People’s Bank, the bank at the fore-front of digitized banking in Sri Lanka, received an overwhelming number of responses to this request, which the public received through social media channels alone. During the campaign, people from all over the country were rushing to bank’s branches, with tens and thousands of books, signifying the inherent generosity of our countrymen, and also the level of trust they put in People’s Bank.

Importance of knowledge obtained through reading, and of digital literacy for overcoming the challenges in the future, were highlighted and emphasized during the ceremony at Badulla. Students were also informed about the novel and futuristic services introduced by People’s Bank through it digitization drive, such as Self Banking Units, People’s Wave mobile app, People’s Wiz, and People’s Web. It is worth noting that People’s Bank, who became the first Sri Lankan bank to inculcate the habit of saving among students in 1971 & introduced an ATM equipped with NFC technology specially designed for Schools last year, thereby offering a chance to experience digitized banking first hand to our future generations.

As the most prominent government bank in Sri Lanka, People’s Bank, from its inception, has been carrying out a number of campaigns to educate country’s younger generations on the value of saving. In 1971, the bank introduced savings at school-level, a first for Sri Lanka, and is annually presenting awards and scholarships to the high achievers in Advanced level and Ordinary level examinations, as well as Grade 5 scholarship exam. In addition, a number of seminars are conducted island-wide on an annual basis, courtesy of People’s Bank, targeting students facing the scholarship examination.

Rest of the donations received through the ‘Pathumak Thagi Karamu’ campaign will be distributed among the less privileged students in the country during the coming weeks.

 Event in Badulla was graced with the attendance of Mr. Bonniface Silva – Senior Deputy General Manager, Banking Operations, People’s Bank, Mr. W. D. Jayathilake, Zonal Education Director, Mr. Ajith Rajapaksha, Divisional Education Director, and Mr. A. Ariyarathne, Prinicipal, B/Kumarapattiya Ambagasdowa Rajakeeya Vidyalaya. Mr. Kapila Dharmasena, Deputy Principal, Mr. Majula Dissanayake, Regional Manager for Badulla region, People’s Bank, and Ms. E. A. Kalpanee Chandima, Manager, Uwa-Paranagama branch of the Bank were also in attendance.

People’s Credit Cards offers amazing discounts of up to 65% this holiday season

People’s Bank is adding joy to this holiday season, presenting People’s Credit Card holders a number of amazing discounts and offers to take advantage of during this festive season from a wide array of leading merchants in Sri Lanka. All People’s Credit Card holders now have a multitude of reasons to ‘Swipe, Spend, Save & Smile’ this December with discounts up to 65% from leading hotels and resorts, supermarkets, online stores, travel firms, shoes and leather outlets as well as  apparel outlets to brighten up their holiday season.

Keeping up with the latest local and international fashion trends has never been easier thanks to People’s Bank Credit Cards offers from premium brands, clothing chains and fashion outlets such as Aurelia, W, Puma, Arrow, Clarks, DSI Premier, U.S. Polo, Fashion Bug, Piyarathna Tex, Arista, Hameedia, New Manel, Beverly Street, Prasad Fashion Square, Prasad Textile, Sari Mandir, Signature, Saman Mal, Sarathchandra Textiles, Sunimals, Super Fashion Panadura, Spring & Summer, Hi Life, Velona, Super Kids, Supul, House of Fashions, XIMI Vogue, Chamathkara, CIB Shopping Centre, Akira, Handloom Gallery, Kids Wear House, The Outlet Store, Haamaa, Inter Fashion, Cool Planet, Exibit, Nirmani Dress Point, Hemantha Textiles, Opal Fashion, XXL, Dilan Fashion Galle and Wijaya Saree Mandir.

As a major part of the festivities is preparing delicious food and bringing family and friends together during holiday meals, People’s Credit Cardholders can avail themselves to wholesome discounts at Arpico, Keells and Cargills supermarkets this season.

With online shopping fast becoming a preferred way of shopping for a growing segment of the population, People’s Credit Cards have arranged for exciting discounts at some of Sri Lanka’s most popular Online Stores including Wasi.lk, BuyAbans.com, Daraz.lk and DSIfootcandy.lk.

For those who want to fly away to foreign destinations for the holidays and make memories that last a lifetime, People’s Credit Cards offers eye-catching discounts from findmyfare.com and Crazy Jets.

Stepping into the holiday season and the New Year in the latest footwear designs just got much easier through People’s Credit Cards thanks to their offers from Bata, Helanka and DSI.

People’s Credit Cards offers a wide array of leisure getaway options to make everyone’s dream vacation a reality through the following hotels and resorts located across the island: Pigeon Island Beach Resort, Fairway Sunset Galle Hotel, Go Outdoors Caravans and Motor Homes, Lakeside Cottages, The Beach Cabanas Retreat & Spa, Citrus Waskaduwa, Fairway Colombo Hotel, The Oliphant, Amaya Signature (Kandalama, Dambulla), Amaya Hills (Kandy), Joe’s Resort Unawatuna, Amaya Bungalow (Kandy),  Amaya Lake (Kandalama, Damubulla), Era Beach Thalpe, Joe’s Bungalow Yala, Joe’s Resort Bentota, Apa Villa Thalpe, Club Koggala Village, The Long Beach Resort & Spa, Amaya Beach (Pasikudah), Kassapa Lion’s Rock (Sigiriya), Coco Royal Beach Resort (Waskaduwa), Fresco Water Villa Sigiriya, Senani Hotel (kandy), Oak Ray Serene Garden (Kandy), Oak Ray Heritage (Kandy), Tea Bush Ramboda, Liyya Water Villas (Dambulla), Oak Ray Elephant Lake (Habarana), Oak Ray Regency (Kandy), Oak Ray Wild Yala (Tissamaharama), Oak Ray Haridra Beach Resort (Wadduwa), Pelwehera Village Resort Dambulla, Oak Ray Summer Hill Breeze Nuwara Eliya, Anilana Hotels & Resorts (Nilaveli, Nuwara Eliya and Passikudah), Koggala Beach Hotel, Royal Hills (Nuwara Eliya), Oak Ray City Hotel (Kandy), Oak Ray Ella Gap Hotel, Amesbury Cottage Nuwara Eliya, Tropical Life Resort & Spa, RHO Sigiriya Lake Edge Retreat, Maalu Maalu Resorts & Spas (Passikudah), Citrus Hikkaduwa, Mountbatten Bungalow (Kandy), Planter Glendoven Bungalow (Nuwara Eliya), Kithala Resort (Thissamaharama), Wild Glamping Knuckles, Aliya Resort & Spa (Sigiriya), Kingfisher Lodge (Sigiriya), Lady Hill, Lavenro Hotel & Resort (Deniyaya)      

Being the Bank of the people, People’s Bank is constantly looking at ways to enhance the lifestyle of its valued customers by providing them a pathway to access premium products and services through unmatchable 0% installment plans of up to 36 months from the following leading merchants: Abans, Abans Elite, Damro, Lionco, Wasi.lk, Bigdeal.lk, BuyAbans.com, Dinapala, People’s Travels, FindMyFare.com, Crazy Jets, Hameedia, Vision Care, Camera.lk, Singer, Morich.lk, Classic Travels, W.A. De Silva & Co. and World of Outdoor.

People’s Bank Credit Cards provide unparalleled benefits, convenience and security for all cardholders. A number of key competitive features such as lowest interest rates and tariffs, no joining fee and no subscription fee during the promotional period, ability to make payment online or via mobile devices, access to People’s Bank’s large network of 737 branches island-wide and secure technology to ensure privacy of customer data make it an outstanding value proposition to customers. For more information People’s Bank Credit Cards, please contact the hotline 1961.

People’s Bank wins big with a Trio of Gold awards at prestigious LankaPay Technnovation Awards 2019

People’s Bank stole the limelight at the recently-held LankaPay Technnovation Awards 2019, becoming the recipient of a number of awards, bagging 3 Gold Awards for ‘The Most Popular Electronic Payment Product - category A’; ‘Bank of the year for Financial Inclusivity-category A’; and ‘Best Common ATM Acquirer of the Year - category A’ - all highly coveted honors for which banks and non-banking financial institutions compete to demonstrate innovative digital technology. LankaPay Technnovation Awards is Sri Lanka’s first and only annual payment technology innovation awards ceremony.

The prestigious Gold award for ‘The Most Popular Electronic Payment Product” was granted to People’s Bank for its mobile payment application, ‘Peoples Wave’, which has recorded 500,000 downloads within a short period of time. This award was chosen through online social media vote where 32,000 votes were recorded this year, three times more than the previous time. People’s Bank won by a wide margin of 16,000 votes. Further, the ‘Bank Of The Year for Financial Inclusivity’ Gold was bestowed for directly facilitating Bank and Financial Inclusivity to every individual in the country across its 737 branches and service centers island wide along with its ever-increasing digital footprint. People’s Bank has steadfastly supported customers in the North and East even through the period of the conflict, a fact which was noted by the panel of judges, who cited that People’s Bank values customer diversity, enriches living standards and is truly the Bank of the People. The 3rd Gold award for ‘Best Common ATM Acquirer of the Year’ was based on the number of transactions carried out through People’s Bank ATMs. The transactional volumes were measured annually from 1st of April 2018 to the 31st of March 2019. People’s Bank ATMs are preferred because of the Bank’s digitization expertise and accessibility, being the widest single automated machines’ network in the country. Putting customer convenience first, People’s Bank has made lives easier by launching applications to support Common Electronic Fund Transfer Switch (CEFTS) System and Sri Lanka Interbank Payment System (SLIPS). People’s Bank now has over 230 self-banking units and over 1,200 self-service automated machines offering real time access 24/7 throughout the year. People’s Bank also walked away with a Merit award for overall best performance of the year.

Commenting on the Bank’s spectacular performance at the Technnovation Awards 2019, People’s Bank’s General Manager and CEO, Rasitha Gunawardana said, “This is a momentous occasion for us as this is the first time People’s Bank has received 3 Gold Awards at the highly-regarded Technnovation Awards - and to win 3 awards in one evening makes us very proud. People’s Bank has taken a pioneering role in digitization and customer engagement by leveraging on digitally driven solutions and initiatives, placing the Bank at the forefront of digital innovation to bring the benefits of digitalization to the entire nation. We would like to express our heartfelt appreciation to our customers and the wider public for placing their trust in us, which inspires us to innovate and expand, going from strength to strength. People’s Bank’s almost six decades’ experience in the industry positions us as the preferred bank for those who want to ensure the security of their financial future. Our exceptional staff needs to be credited for the Bank’s strong performance at Technnovation Awards 2019 as it is mainly their hard work that has made this triumph possible. The confidence placed in us by all our stakeholders provides the impetus for us to keep forging ahead on our ambitious digitalization journey”.

People’s Bank’s visionary digital transformation has seen the bulk of the bank’s conventional banking transactions emanating from digital channels. The very first fully-fledged People's Digital Innovation Center was ceremonially opened at York Street in 2017 and a further 300 digital branches and over 1,500 agents have since been added. The Bank’s Self Banking Units (SBUs) operating 24x7x365 allows customers to bank at their convenience. ATMs, Cash Deposit Machines (CDMs) and Kiosk machines for utility bill payments together embrace a host of banking services. People's Bank has also added mobile technology into its digitization purview with its first mobile app ‘People's Wave'. Since its launch, People's Wave has become the most downloaded finance app in Sri Lanka, gaining an impressive 4.4 rating on Google Play Store and over 500,000 downloads during the short period since its launch. It has surpassed all other similar financial apps in the country.

Initiated in 2017 in a quest to drive financial inclusivity in the country, which is a key objective of the Central Bank of Sri Lanka, LankaPay Technnovation Awards intends to enhance the efficiency of the country’s national payment network. Banks, non-banking financial institutions and FinTech service providers who have remained steadfastly committed to this cause and excelled in this endeavor, vie for recognition under 15 categories. The initial shortlisting was carried out based on an evaluation of the performance of these institutions against set criteria, subjected to an independent audit. In the second stage, shortlisted winners had to present before an independent and eminent Panel of Judges on how they achieved that performance and how they plan to build upon with conviction. Outright winners in each category were then selected by the said panel, based on the strength of the presentation, and the novelty and the feasibility of the plans for the future.

People's Bank celebrates Deepavali

People's Bank held its main celebration coinciding with the Deepavali festival, at its Wellawatta and Kotahena branches.

A series of Hindu religious observances were held in view of the Deepavali festival, invoking blessings to the country, people, customers as well as the staff of People's Bank. The event also featured special dance performances by school children.

CEO/ General Manager of People's Bank Mr.Rasitha Gunawardena, Corporate and Executive Management of the People's Bank, the staff of People's Bank and a large number of customers were present at the occasions.

People's Bank also took steps to open for Transaction 18 Branches and Service Centers during the course of the day, for the convenience of Hindu devotees residing in Northern, Eastern, Vanni, Kandy, Matale, NuwaraEliya, Badulla and Colombo areas. Many of these branches also make arranegements to mark the festival.

People’s Bank opens school banking unit with a CDM at Dharmaraja College - Kandy

People’s Bank, with the aim of enabling students to experience digital banking, unveiled a school banking unit at Dharmaraja College, Kandy, recently, which consists of an NFC enabled Cash Deposit Machine as well. Present on the occasion were Mr. Jagath Karunaratne, Mr. K. M. R. Konara Narampanawa, and Mrs. Renuka Premathilaka, Deputy Principals of Dharmaraja College, Kandy, K. B. Rajapaksa - Senior Deputy General Manager – Retail Banking and D. M. D. Dissanayake - Regional Manager, People’s Bank Kandy Region; and Assistant Regional Managers, Janaka Jayasinghe - Branch Manager, Kandy; along with Bank Staff, teachers and a large number of students.

The objective in installing the school banking unit is to allow students to conduct transactions safely using digital technology, while encouraging the savings habit. People’s Bank hopes to strengthen the savings habit amongst the students, thereby instilling a skill that can brighten their futures. Bank has been inculcating the savings habit among school children since 1971, and successfully installed the very first school banking unit at Ananda College, Colombo in 2018.

With the help of the school banking unit, students are able to deposit funds into their Sisu Udana accounts without the hassle of paperwork, and check their account balance. Students also receive a handy NFC card which can be used as a student ID card that displays their name, photograph, and student ID number which can be used to deposit money.

People’s Bank rewards 10 Lucky Western Union Customers with round trip air tickets to Chennai

Customers who have been making use of the Western Union money transfer facility of People’s Bank to receive funds from abroad were entered into a lucky draw contest that was held at the People’s Bank Head Office in Colombo 2 recently. There, 10 lucky winners were able to walk away with with return air tickets to Chennai, India, courtesy of People’s Bank.

The customers who made use of People’s Bank Western Union Money Transfer facility from 1st May 2019 to 31st July 2019 were eligible to enter into the draw.

This occasion was attended by Deputy General Manager (Enterprise Banking) Mrs. Krishani Narangoda, Assistant General Manager (Overseas Customer Services) Mrs. Anoma Mudduwa and Assistant General Manager (Marketing) Mr. A U A Anzar.

People’s Bank Kaluwanchikudi Branch relocated to a new premises

The ceremonial opening of People Bank’s Kaluwanchikudi Branch at its new premises took place recently with the attendance of Mr. A.U.A Anzar, Assistant General Manager (Marketing) of People’s Bank.

The branch was relocated with the intension of providing the residents of Kaluwanchikudi with a more convenient and a comfortable service and customers will now have the privilege of getting all their banking done under one roof.

This occasion was attended by, Regional Manager Batticaloa- Mr. N Sriskandha, Assistant Regional Manager -Mr. S M Mohandas, Manager Kaluwanchikudi Branch -N M Shanthan,             staff members, government officials and a large number of their customers.

Prestigious ‘The European’ affirms People’s Bank’s leadership by anointing it ‘The Best Bank in Sri Lanka’ & The Best Corporate Banking Services in Sri Lanka for Year 2018

People’s Bank, was recently bestowed with the prestigious ‘Bank of the Year – Sri Lanka’ & The Best Corporate Banking Services in Sri Lanka 2018  titles by the reputed international finance and business magazine, ‘The European’, at its ‘Global Banking and Finance Awards 2018’. The prestigious award was accepted by N. Vasantha Kumar - Chief Executive Officer/General Manager; Bonniface Silva - Senior Deputy General Manager (Banking Operations), who attended the glittering awards ceremony held recently. The European is a quarterly business publication, published by Chase-Publishing in London and its European Awards, which are highly respected by the global financial community, are judged by a panel of experienced personalities across a range of sectors, ably supported by a highly dedicated research team.

Winning this accolade is a true testimonial of People’s Bank’s success, as The European award is bestowed on banks that stand out from the crowd and grow their industry, while also being judged on good governance, innovation and know-how, and quality of service. The awards’ judging panel has extensive experience across a range of sectors, supported by a highly dedicated research team that works around the clock to ensure that the awards programme is a success. The European recognises organisations and individuals that stand out from the crowd, and are consequently moving their industries forward. Good governance, innovation and know-how, and quality of service are all major considerations.

 

Expressing his enthusiasm at the awards ceremony, N. Vasantha Kumar - Chief Executive Officer/General Manager, People’s Bank said, “We are humbled to be bestowed the title of ‘Bank of the Year’ & The Best Corporate Banking Services in Sri Lanka 2018  by the revered ‘The European’ magazine, as it ranks as one of the premier global banking awards. The European, over the last several years, has been celebrating achievement, innovation and excellence through its annual awards programme. It gives us a great sense of achievement to be recognized in front of the global banking fraternity. The Bank has played a critical role in supporting enterprises to realize their optimum potential and is known as the country’s premier digital financial services provider. Our digitalization drive over the past four years has already garnered many international accolades of recognition and appreciation, and positions us at the forefront of digital giants in the Asian region.” 

Adding further, Bonniface Silva - Senior Deputy General Manager (Banking Operations) at People’s Bank said, “It was an honour to receive the award in front of illustrious banking leaders across the region. These awards are an affirmation of the strong leadership of the bank that is leading us to garner international recognition. We look forward eagerly to achieve even more impressive milestones in the year ahead.”

As The ‘Bank of the people’, People’s Bank has continuously innovated and improved on its products and services in a bid to serve customers better. Going ahead on its digitalization journey, People’s Bank plans to take digital banking further to fulfil the Bank’s vision to reduce carbon footprint and benefit the environment.

Mr. Rasitha Gunawardana appointed as the New CEO/GM of People’s Bank

Mr. Rasitha Gunawardana, assumed duties as the 16th Chief Executive Officer/General Manager of People’s Bank , Today (16th April) at the Head Office of People’s Bank.

Mr. Rasitha Gunawardana was appointed as the CEO/GM-Designate of People’s Bank In September 2018 and assumed office today, after retirement of former CEO/GM of People’s Bank Mr. N. Vasantha Kumar.

Starting his banking career with People’s Bank in 1987, he gained extensive experience in Finance, Performance Management, Corporate Credit, Commercial Credit, Treasury Operations, Credit Control and Risk Management.

Prior to joining People's Bank, he had served in both private and public sectors covering travel and hotel industry, plantation management and construction field.

He is also an Associate Member of the Chartered Institute of Management Accountants (UK).

Alawathugoda branch of People's Bank to new premises

Alawathugoda branch of People's Bank was opened recently at new premises, on auspicious time.

Branch was moved to this new premise with the intention of making novel banking technologies and all their benefits more accessible for citizens in Alawathugoda area.

A state-of-the-art Self Banking Unit has been installed in the new premises, which offers withdrawals, deposits and bill payments through ATM, CDM and kiosk services 24x7.

Chairman of the Akurana divisional council Mr. Mohommad Istehar, Assistant General Manager (Channel Management – ATM Operations) of People's Bank Mr. Krishantha Gunarathna, Regional Manager for Kandy Region Mr. D.M.D. Dissanayake, Assistant Regional Manager Ms. Disna Jayatissa, Senior Manager (Credit) Mr. Tissa Thennakoon, and Branch Manager Ms. Manori Wijesundara graced the occasion along with the Bank staff and a number of loyal clients.

Annual report of People's Bank proffered to Minister of Finance

People's Bank's annual report for year 2018 was presented to incumbent finance minister by People's Bank Chairman Mr. Nissanka Nanayakkara,PC  at the Finance Ministry recently. 

Event was graced with the presence of Mr. R Deshapriya, Deputy Secretary of the Treasury, Mr. Rasitha Gunawardene, CEO/GM of People's Bank, Mr. Bonniface Silva, Senior Deputy General Manager (Banking Operations), Mr. Rohan Pathirage, Senior Deputy General Manager (Human Resources & Legal), and Mr. Azzam A Ahamat, Head of Finance of People's Bank. 

People’s Bank Becomes Asia's FIRST CarbonConscious® Certified State-Owned Bank

The most operationally widespread financial institution in the country, People’s Bank was recently awarded CarbonConscious® status by the leading sustainability verification and certification services provider, The Sustainable Future Group (SFG), in recognition of its commitment towards environmental stewardship for the past three years.

People’s Bank launched a comprehensive Environmental Sustainability Policy back in 2016 to measure, manage, and mitigate its environmental impact in a bid towards becoming a more sustainable financial institution. As a part of the “People’s Green Pulse” policy, an extensive Carbon Management Programme was introduced and systematically spread out over a three-year period that witnessed the Bank regularly monitor and actively work to reduce the Carbon Footprint of its organisational operations. As the Bank with the largest network in Sri Lanka, the task was by no means a simple one. To achieve its ambitious goals, People’s Bank worked with Sri Lanka’s leading integrated sustainability solutions provider – The Carbon Consulting Company (CCC).

As a first step, a Sustainability Framework spanning across all divisions of People’s Bank from Head Office to Regional Offices and the entire Branch network was implemented. This framework included the creation of Sustainability Teams to manage the Bank's Environmental and Social initiatives, all of whom now report to a Central Sustainability Committee.

In order to accurately measure the financial institution’s Carbon Footprint, CCC conducted comprehensive annual Greenhouse Gas (GHG) Assessments based on the globally accepted WRI/WBCSD GHG Protocol and the ISO 14064-1 Standard to quantify the total emissions produced directly and indirectly from the Bank’s business activities. This allowed the Bank to be completely transparent on the reporting of its environmental impact, which is a palpable way to showcase its willingness to take responsibility for its operations that will give it an undeniable edge, whilst setting an example of good practices in the Financial Services Industry.

People’s Bank has now concluded the final year of its three-year Carbon Management Programme, and has been awarded with CarbonConscious® certification by SFG, thereby making it Asia’s FIRST State-owned Bank to achieve this distinction. As part of the requirements of this certification, the Bank has further implemented a comprehensive management plan to establish objectives and identify initiatives to mitigate its overall GHG impact.

Seeing that investing in sustainability simply makes good business sense, and reiterating its commitment to climate action, the Bank has also introduced multiple measures on better energy and waste management in an effort to mitigate its overall environmental footprint. Furthermore, it has adopted the evaluation of environmental impacts in its lending and investment policy, implemented a dedicated ‘Green Banking’ product line, and is constantly looking at innovative methods of conducting business that are less harmful to the environment. Whilst large-scale endeavors such as these have not been easy feats for a Bank of this size, their combined success was made possible with the Bank’s tireless commitment to integrate sustainability into its operations, along with the expert guidance and support of CCC.

With a notable decrease in its Carbon Footprint over the years, which has already resulted in significant financial savings, People’s Bank has further demonstrated that financial returns can be in sync with the interests of the environment and the community.

People’s Bank marks 58th Anniversary with a blood donation camp

In commemoration of People’s Bank’s triumphant 58th Anniversary, a blood donation camp was organized by People’s Bank Welfare Department and the People’s Bank Sports Club. Held at the Bank’s Old Staff Training College in Colombo, the blood donation drive, received an overwhelming response from employees, who participated enthusiastically to make the initiative a success. Setting the tone from the top, People’s Bank’s Chief Executive Officer/General Manager Mr. Rasitha Gunawardana along with the Corporate and Executive Management all participated in the social responsibility project. As a bank that is ‘The Bank of the People’, People’s Bank is closely engaged with the nation’ social fabric and regularly conducts a variety of corporate social responsibility projects that have a positive and lasting impact on communities within which it operates. Over the last 58 years, People’s Bank has demonstrated its commitment committed to supporting the country’s development, which its sees as one of its foremost responsibilities as a state bank that makes a valuable contribution to the nation’s economy.

People’s Bank Officers’ Association rewards members’ children who achieved academic excellence in 2018/19

People’s Bank Officers’ Association recently held its ‘Abhinandana Pranama 2019’ - Scholarships Awards Ceremony at the People’s Bank Staff Training College. Organized for the 19th consecutive year, the award ceremony recognizes and appreciates outstanding educational achievements of the children of People’s Bank officers’ Association’s members.

During the gala ceremony, scholarships and certificates were awarded to such children, who have excelled at Grade 5, G.C.E (O/L) and G.C.E (A/L) examinations. Conducted island-wide, a large number of students sit for these examinations and achieving top placements in such a fierce competition is an extraordinary feat. These scholarships provide an impetus for the children to excel continuously and gain greater recognition which would ultimately enhance their career prospects. The special guest on the occasion was Prof. Nilwala Kottegoda –Department of Chemistry, The University of Sri Jayawardenapura, while the Chief Guest was People’s Bank Chairman- Mr. Nissanka Nanayakkara, PC, and Chief Executive Officer/General Manager of People’s Bank Mr. Rasitha Gunawardena graced the occasion as an Honorable Guest.

The objective of the awards is to recognize the hard work put in by students to achieve top scores and to encourage them to aspire to even greater heights. The program is yet another example of People’s Bank’s continuous mission to generate leaders of tomorrow, by motivating the younger generations through recognizing their achievements.

People’s Bank has a strong track record in providing every child with a bright future by encouraging excellence and cultivating the savings habit. The bank takes this mandate seriously and has introduced popular children’s accounts which offer several benefits.

Pioneering an innovative approach to empowering students further, People’s Bank has set up School Banking Units with Cash Deposit Machines at prominent schools in the island to extend Banking facilities to students for enhanced convenience and safety, while inculcating the savings habit. This helps enhance financial literacy along with the convenience of conducting a host of banking transactions at the People’s Bank Unit located in their schools. People’s Bank School Banking Unit offers students a variety of services such as the facility to deposit coins and cash and make balance enquiries; all through a handy NFC card with Student Name and Admission No. Cards are designed with respective school colors and can also be used as a School ID. Students only need the NFC Card and fingerprint for making deposits.

People’s Bank Pledges Rs 1000/- for each Newborn

People’s bank celebrated its triumphant 58th anniversary on 01st July 2019. To coincide with the anniversary, Bank has launched a new campaign focusing on children born within the period of July to September. Bank presents a gift voucher worth Rs 1000/- to each and every newborn. This initiative was first launched successfully in 1998, and has been an annual event ever since. In addition to this promotional campaign, bank conducts a similar scheme every year during the first week of February, celebrating the independence

As a pioneer and the market leader of the minor account segment, Isuru Udana account launched a new deposit campaign on 01st of July which will continue up to 30th September 2019. To empower the concept of “Account for All Children” bank introduced a special gift voucher worth of Rs 1000/= for all newborns. During the campaign period parents can visit the nearest branch and open an Isuru Udana account by submitting the gift voucher. There is a three months’ validity period for opening an account with this specially designed gift voucher. In addition to this new promotional campaign, bank already contributes an initial deposit of Rs 250/- to every newly opened children’s savings account.

“Isuru Udana” account is the wisest gift parents can ever present their own child. It is a solid foundation which grows through their life. Inculcating the savings habit among the children is the main purpose of this campaign. As a government bank it is our prime duty to facilitate means of securing a bright future for children. Bank introduced an attractive gift scheme as a motivational tool for children to save money.

An Isuru Udana savings account is automatically transferred to a Sisu Udana Account when the child is Five years old. Gift Scheme of Sisu Udana is different from that of Isuru Udana and was specially designed based on the age preferences and assistance to school requirements. Bank has introduced School savings counters which motivates children to save and have banking experiences of their own. Keeping in mind that Technology plays a major role in modern society we have pioneered technological innovations such as mini cash deposit machines. As a pilot project we have introduced that technology to two schools and are in the process of covering all the districts.

To provide the assistance and encourage the students to excel in education, Bank has introduced scholarship programmes for Year 5 scholarship, O/L and A/L. And as a CSR initiative, a seminar programme is conducted annually for year 5 scholarship exams. Without considering the profits Bank conducts these programmes to provide a helping hand for children especially in rural areas

When the account holder is 18 years old, Sisu Udana account is automatically converted to an YES account, and then Jana Jaya and Parinatha in accordance with the age. As ‘’the Bank of the People”, we have tapped into all the requirements of customers of every age and we provide solutions for all financial matters. New Digital revolution in the Bank provides convenient banking experiences to all customers. Peoples Wave, Peoples Wiz, Internet Banking are such newly introduced facilities. Than in making profits, Bank is always more concerned in contributing to the wellbeing of the society.

Peoples Bank marks International youth day with its power-packed YES account

In commemoration of the international youth day which fell on the 12th of August, People’s Bank unleashed an attractive bundle of benefits to the               Sri Lankan Youth through their unique savings scheme the YES account, under the campaign   ‘from Teenager to the Busy Youth’. This campaign was launched at the People’s Bank Head Office with the participation of Mr. Rasitha Gunawardana, Chief Executive Officer/ General Manager of Peoples Bank.

The main emphasis of this year’s YES Campaign remains to strengthen and equip the youth of Sri Lanka in becoming the next generation entrepreneurs. The event saw the release of this year’s ‘Yes Song’ and also the demonstration of ‘People’s Wiz ’, the digital platform that enables youth to open a Peoples Bank account then and there. The youth who opened new Young Executive Savings (YES) accounts at the launch also received complimentary gifts. This event saw the participation of many executive grade officers and staff members of the Bank together with their loyal clientele.

You could now very conveniently open a Peoples Bank YES account through their 100% paperless digital platform ‘People Wiz’. Furthermore, you also have the privilege and benefit of accessing your account 24/7 using the ‘Peoples Wave App’ through the convenience of your mobile phone. All this is accessible and further facilitated through the information available through the ‘Peoples Web.’ You could also make use of the self-banking services available around the clock, to pay your utility bills and to deposit and withdraw cash at your own convenience. 

Other than the host of benefits that come with digital banking such as e-statements, mobile banking and internet banking, YES account holders also have the privilege of earning higher interest on savings, obtaining International VISA debit and credit cards, and applying for personal loan (People’s Loans) facilities. Their loan scheme consists of higher education loans, vehicle loans (People’s Auto), educational loans (People’s Wisdom) and loans that are tailor-made for small and medium enterprises. YES account with its unique features enables Sri Lankan Youth to realize their dreams and accomplish their goals while living the life they have always dreamed of.

People’s Bank exhibits the power of its Digital Banking at ‘Kedella Art of Living 2019’

‘Kedella Art of Living 2019’ Exhibition concluded successfully at the BMICH recently. As the most exclusive home-related exhibition of the year, Kedella mainly focuses on house designing & construction, interior designing and housing loans and featured over 200 stalls. As an exhibition that attracts prospective and existing home-owners, People’s Bank was able to captivate this customer segment by extending low interest housing loans, which could make their dreams of owning a house come true. Requiring minimum paperwork, the housing loans attracted many inquiries. At the end of the three-day exhibition, People’s Bank had collected a considerable amount of loan applications which would be processed within the shortest period. One of the most popular stalls at Kedella was People’s Bank’s state-of-the-art People’s Digital Stall, which attracted a large amount of visitors.

Exhibiting its pioneering achievements in digital banking, the People’s Digital Stall enabled existing and prospective customers to experience the benefits and convenience of digital banking and how it enhances the overall banking experience. People’s Bank’s digitized stall comprised of a fully-fledged digital branch, complete with a Self Banking Unit which includes a CDM, ATM and Kiosk. The Bank’s newly-released YES commercial was displayed prominently on a huge LED screen at the digital stall to attract the younger generation.

People’s Bank provided visitors to its stall to facilitate to open real-time, online accounts and encouraged them to experience the popular ‘People’s Wave Mobile App’, which offers an exclusive digitalized banking experience and enables ‘anytime anywhere banking’. People’s Wave has emerged as one of the most popular financial services applications in the country, demonstrating the Bank’s ability to understand its customers’ expectations. As a measure of its success, a large amount of new customers opened digital accounts at the venue throughout three days, while many existing People’s Bank customers were inspired to embark on digital banking. The Bank offers the highest security and privacy of data, with email and SMS notifications for all transactions. Bank’s Mobile Cash service also generated much interest, particularly the speed with which people could access cash, once their photograph was verified.

Customers who signed up for digital banking were issued debit cards on the spot while also being encouraged to apply for People’s Bank Credit Cards at the venue, which offer the lowest interest rate and fee structure, making it the preferred credit card in the country.

Offering a totally paperless experience, People’s Bank also provides e-statements as opposed to passbooks for being more environmentally responsible and to make it easy to refer to them on any mobile device. The Bank’s staff was on hand at Kedella to demonstrate how customers could conduct financial transactions such as fund transfers and loan repayments online, without having to visit its bank branches. People’s Bank’s digital banking also empowers customers to send money upto Rs. 10,000 to people who do not have accounts with the Bank, via the Self Banking Unit kiosk. At the venue, customers were excited to try out the CDM first-hand to experience its speed, ease-of-use and efficiency. 

People’s Bank’s digital account opening – which is a paperless, seamless, digitally integrated system – has seen rapid adoption. The Bank has become synonymous with exciting new digital products and services as it continues to expand its digital footprint across the country. As a state-owned bank, Peoples’ Bank has been on the vanguard of facilitating digital-financial services penetration into the rural hinterlands of the country and has recorded unmatched levels of success in supporting the nation’s evolution into a digital society. 

People’s Bank Self-Banking Unit opened at Colombo Mid City

The latest Self Banking Unit of People’s Bank was declared open at the Colombo Mid City Branch by Hon Minister Arjuna Ranathunge-Minister of Transport and Civil Aviation recently.

This Self Banking Unit Consists of an ATM (Automated Teller Machine) for cash withdrawal, a CDM (Cash Deposit Machine) for cash deposits and a Kiosk for utility bill payment.  This enables their valued customers to access an efficient and an all-encompassing banking service 24 hours all 7 days of the week.

This ceremonial opening was attended by General Manager, Sri Lanka Railways Mr Dilantha Perera, Senior Deputy General Manager (Banking Operations) of People’s Bank, Mr. M.A.  Boniface Silva, Assistant General Manager (Channel Management and ATM operations) of People’s Bank, Mr. Krishantha Gunaratne, Colombo North Regional Manager Mr. Thusitha Rohan, Manager Colombo City Branch Ms. Udyangani Karunaratne, and Staff members of People’s Bank and along with a large number of their clients.

Felicitation Ceremony for People’s Bank Staff Cooperative Society members’ Children

A felicitation ceremony organized by the People’s Bank Staff Cooperative Society members in recognition of academic excellence of their children was held at People’s Bank Training College auditorium in Colombo 5 recently.

This  ‘Members Children’s Scholarship Award Ceremony’ recognized 91 children who have performed exceptionally well at the 2018 Year 5 Scholarship Examination, 2018 Ordinary level Examination and 2018 Advanced Level Examination.

The event was marked by a variety of entertainment items and the compeering was done by the veteran announcer Dr. Hasantha Hettiarachchi.

This occasion was graced by the cooperative development commissioner and cooperative registrar, Mr. Suvinda S Singappuli, Senior Deputy General Manager (Banking Operations) of People’s Bank, Mr. Bonniface Silva and executives and officers of the Bank, President of the Cooperative Society of People’s Bank Mr. J D J P Jayakody, Secretary of the Society Mr. Nishantha Kumara Peiris, General Manager of the cooperative Society Mrs. Padma Mapalagama, staff members of the cooperative development board, Bank staff and the scholarship recipients.

People’s Bank launch ‘Pathumak Thagi Karamu’ campaign in celebration of the literature month 2019

People’s Bank ceremoniously initiated the distribution of donations received from generous and charitable Sri Lankans for bank’s ‘Pathumak Thagi Karamu’ campaign at the B/Kumarapattiya Ambagasdowa Rajakeeya Vidyalaya recently. In parallel, books and reading material were presented to the students in Bandarawela Visaka Central College as well. Many academic tools were also distributed at these events, in addition to books.

‘Pathumak Thagi Karamu’ campaign was launched in the hope of bringing quality reading material closer to the less privileged children of our nation, and is yet another example of People’s Bank being a pillar of strength to all sectors of the society. Through its official Facebook page, bank appealed to its clientele, and all kind-hearted Sri Lankans, to donate any book that they have already enjoyed to their nearest branch. In addition, it was also requested to inscribe a positive wish on the front page, to serve as a source of strength to the child receiving the book.

People’s Bank, the bank at the fore-front of digitized banking in Sri Lanka, received an overwhelming number of responses to this request, which the public received through social media channels alone. During the campaign, people from all over the country were rushing to bank’s branches, with tens and thousands of books, signifying the inherent generosity of our countrymen, and also the level of trust they put in People’s Bank.

Importance of knowledge obtained through reading, and of digital literacy for overcoming the challenges in the future, were highlighted and emphasized during the ceremony at Badulla. Students were also informed about the novel and futuristic services introduced by People’s Bank through it digitization drive, such as Self Banking Units, People’s Wave mobile app, People’s Wiz, and People’s Web. It is worth noting that People’s Bank, who became the first Sri Lankan bank to inculcate the habit of saving among students in 1971 & introduced an ATM equipped with NFC technology specially designed for Schools last year, thereby offering a chance to experience digitized banking first hand to our future generations.

As the most prominent government bank in Sri Lanka, People’s Bank, from its inception, has been carrying out a number of campaigns to educate country’s younger generations on the value of saving. In 1971, the bank introduced savings at school-level, a first for Sri Lanka, and is annually presenting awards and scholarships to the high achievers in Advanced level and Ordinary level examinations, as well as Grade 5 scholarship exam. In addition, a number of seminars are conducted island-wide on an annual basis, courtesy of People’s Bank, targeting students facing the scholarship examination.

Rest of the donations received through the ‘Pathumak Thagi Karamu’ campaign will be distributed among the less privileged students in the country during the coming weeks.

 Event in Badulla was graced with the attendance of Mr. Bonniface Silva – Senior Deputy General Manager, Banking Operations, People’s Bank, Mr. W. D. Jayathilake, Zonal Education Director, Mr. Ajith Rajapaksha, Divisional Education Director, and Mr. A. Ariyarathne, Prinicipal, B/Kumarapattiya Ambagasdowa Rajakeeya Vidyalaya. Mr. Kapila Dharmasena, Deputy Principal, Mr. Majula Dissanayake, Regional Manager for Badulla region, People’s Bank, and Ms. E. A. Kalpanee Chandima, Manager, Uwa-Paranagama branch of the Bank were also in attendance.

People’s Bank opens school banking unit with a CDM at Dharmaraja College - Kandy

People’s Bank, with the aim of enabling students to experience digital banking, unveiled a school banking unit at Dharmaraja College, Kandy, recently, which consists of an NFC enabled Cash Deposit Machine as well. Present on the occasion were Mr. Jagath Karunaratne, Mr. K. M. R. Konara Narampanawa, and Mrs. Renuka Premathilaka, Deputy Principals of Dharmaraja College, Kandy, K. B. Rajapaksa - Senior Deputy General Manager – Retail Banking and D. M. D. Dissanayake - Regional Manager, People’s Bank Kandy Region; and Assistant Regional Managers, Janaka Jayasinghe - Branch Manager, Kandy; along with Bank Staff, teachers and a large number of students.

The objective in installing the school banking unit is to allow students to conduct transactions safely using digital technology, while encouraging the savings habit. People’s Bank hopes to strengthen the savings habit amongst the students, thereby instilling a skill that can brighten their futures. Bank has been inculcating the savings habit among school children since 1971, and successfully installed the very first school banking unit at Ananda College, Colombo in 2018.

With the help of the school banking unit, students are able to deposit funds into their Sisu Udana accounts without the hassle of paperwork, and check their account balance. Students also receive a handy NFC card which can be used as a student ID card that displays their name, photograph, and student ID number which can be used to deposit money.

People's Bank celebrates Deepavali

People's Bank held its main celebration coinciding with the Deepavali festival, at its Wellawatta and Kotahena branches.

A series of Hindu religious observances were held in view of the Deepavali festival, invoking blessings to the country, people, customers as well as the staff of People's Bank. The event also featured special dance performances by school children.

CEO/ General Manager of People's Bank Mr.Rasitha Gunawardena, Corporate and Executive Management of the People's Bank, the staff of People's Bank and a large number of customers were present at the occasions.

People's Bank also took steps to open for Transaction 18 Branches and Service Centers during the course of the day, for the convenience of Hindu devotees residing in Northern, Eastern, Vanni, Kandy, Matale, NuwaraEliya, Badulla and Colombo areas. Many of these branches also make arranegements to mark the festival.

People’s Bank wins big with a Trio of Gold awards at prestigious LankaPay Technnovation Awards 2019

People’s Bank stole the limelight at the recently-held LankaPay Technnovation Awards 2019, becoming the recipient of a number of awards, bagging 3 Gold Awards for ‘The Most Popular Electronic Payment Product - category A’; ‘Bank of the year for Financial Inclusivity-category A’; and ‘Best Common ATM Acquirer of the Year - category          A’ - all highly coveted honors for which banks and non-banking financial institutions compete to demonstrate innovative digital technology. LankaPay Technnovation Awards is Sri Lanka’s first and only annual payment technology innovation awards ceremony.

The prestigious Gold award for ‘The Most Popular Electronic Payment Product” was granted to People’s Bank for its mobile payment application, ‘Peoples Wave’, which has recorded 500,000 downloads within a short period of time. This award was chosen through online social media vote where 32,000 votes were recorded this year, three times more than the previous time. People’s Bank won by a wide margin of 16,000 votes. Further, the ‘Bank Of The Year for Financial Inclusivity’ Gold was bestowed for directly facilitating Bank and Financial Inclusivity to every individual in the country across its 737 branches and service centers island wide along with its ever-increasing digital footprint. People’s Bank has steadfastly supported customers in the North and East even through the period of the conflict, a fact which was noted by the panel of judges, who cited that People’s Bank values customer diversity, enriches living standards and is truly the Bank of the People. The 3rd Gold award for ‘Best Common ATM Acquirer of the Year’ was based on the number of transactions carried out through People’s Bank ATMs. The transactional volumes were measured annually from 1st of April 2018 to the 31st of March 2019. People’s Bank ATMs are preferred because of the Bank’s digitization expertise and accessibility, being the widest single automated machines’ network in the country. Putting customer convenience first, People’s Bank has made lives easier by launching applications to support Common Electronic Fund Transfer Switch (CEFTS) System and Sri Lanka Interbank Payment System (SLIPS). People’s Bank now has over 230 self-banking units and over 1,200 self-service automated machines offering real time access 24/7 throughout the year. People’s Bank also walked away with a Merit award for overall best performance of the year.

Commenting on the Bank’s spectacular performance at the Technnovation Awards 2019, People’s Bank’s General Manager and CEO, Rasitha Gunawardana said, “This is a momentous occasion for us as this is the first time People’s Bank has received 3 Gold Awards at the highly-regarded Technnovation Awards - and to win 3 awards in one evening makes us very proud. People’s Bank has taken a pioneering role in digitization and customer engagement by leveraging on digitally driven solutions and initiatives, placing the Bank at the forefront of digital innovation to bring the benefits of digitalization to the entire nation. We would like to express our heartfelt appreciation to our customers and the wider public for placing their trust in us, which inspires us to innovate and expand, going from strength to strength. People’s Bank’s almost six decades’ experience in the industry positions us as the preferred bank for those who want to ensure the security of their financial future. Our exceptional staff needs to be credited for the Bank’s strong performance at Technnovation Awards 2019 as it is mainly their hard work that has made this triumph possible. The confidence placed in us by all our stakeholders provides the impetus for us to keep forging ahead on our ambitious digitalization journey”.

People’s Bank’s visionary digital transformation has seen the bulk of the bank’s conventional banking transactions emanating from digital channels. The very first fully-fledged People's Digital Innovation Center was ceremonially opened at York Street in 2017 and a further 300 digital branches and over 1,500 agents have since been added. The Bank’s Self Banking Units (SBUs) operating 24x7x365 allows customers to bank at their convenience. ATMs, Cash Deposit Machines (CDMs) and Kiosk machines for utility bill payments together embrace a host of banking services. People's Bank has also added mobile technology into its digitization purview with its first mobile app ‘People's Wave'. Since its launch, People's Wave has become the most downloaded finance app in Sri Lanka, gaining an impressive 4.4 rating on Google Play Store and over 500,000 downloads during the short period since its launch. It has surpassed all other similar financial apps in the country.

Initiated in 2017 in a quest to drive financial inclusivity in the country, which is a key objective of the Central Bank of Sri Lanka, LankaPay Technnovation Awards intends to enhance the efficiency of the country’s national payment network. Banks, non-banking financial institutions and FinTech service providers who have remained steadfastly committed to this cause and excelled in this endeavor, vie for recognition under 15 categories. The initial shortlisting was carried out based on an evaluation of the performance of these institutions against set criteria, subjected to an independent audit. In the second stage, shortlisted winners had to present before an independent and eminent Panel of Judges on how they achieved that performance and how they plan to build upon with conviction. Outright winners in each category were then selected by the said panel, based on the strength of the presentation, and the novelty and the feasibility of the plans for the future.

People’s Bank marks 58th Anniversary with a blood donation camp

In commemoration of People’s Bank’s triumphant 58th Anniversary, a blood donation camp was organized by People’s Bank Welfare Department and the People’s Bank Sports Club. Held at the Bank’s Old Staff Training College in Colombo, the blood donation drive, received an overwhelming response from employees, who participated enthusiastically to make the initiative a success. Setting the tone from the top, People’s Bank’s Chief Executive Officer/General Manager Mr. Rasitha Gunawardana along with the Corporate and Executive Management all participated in the social responsibility project. As a bank that is ‘The Bank of the People’, People’s Bank is closely engaged with the nation’ social fabric and regularly conducts a variety of corporate social responsibility projects that have a positive and lasting impact on communities within which it operates. Over the last 58 years, People’s Bank has demonstrated its commitment committed to supporting the country’s development, which its sees as one of its foremost responsibilities as a state bank that makes a valuable contribution to the nation’s economy.

People’s Bank staff welcomes 2019 by giving Service Oath

The staff of People’s Bank commenced operations in the New Year, 2019 by giving the Service Oath. A special celebration was held on the 1st of January at the head office of People’s Bank to commemorate this occasion.

At this event, the entire staff gave the Government Service Oath under the patronage of the Chief Executive Officer/ General Manager, Mr. N. Vasantha Kumar, followed by Pirith Chanting. Further an all religious programme was held to invoke blessings on the bank and the staff by Hindu, Islam and Christian Priests.

The event was graced by the corporate and executive management of People’s Bank and staff members.

People’s Bank CIO acknowledged as ‘Sri Lanka Digital Maestro 2018’

Monday, 01 October 2018, Colombo: People’s Bank valued employee, Priyantha S. Edirisinghe, was recently bestowed with the ‘Sri Lanka Digital Maestros Awards 2018’ accolade by Sri Lanka Digital Dialogue. The award was presented to him by SL Dynamic CIO. As Head of IT/CIO of People’s Bank, Priyantha was awarded for being one of 25 exceptional technology leaders recognized for their game-changing digital transformation initiatives. The award ceremony took place on 14th September 2018 during Dynamic CIO’s Sri Lanka Digital Dialogue program at Hotel Taj Samudra, Colombo.

Priyantha has been a key pillar of People’s Bank’s digital transformation, as it strives to achieve its vision of the most digitalized bank by 2020. Leading a 148-strong IT Team, Priyantha has implemented the bank’s ambitious digitalization vision, which is aligned to the government’s vision for the nation. His leadership has driven People’s Bank to achieve many firsts. The Bank was the first to launch fully digitized branches in July 2017 and introduce the concept of fully paperless banking services. It went on to become the first state bank to receive the ISO/IEC 27001:2013 certification for its information security systems. In view of scale and breadth of network, People’s Bank is equipped with all ATMs, POS terminals EMV compliant to safeguard customer financials and data. In its next stage of growth, People’s Bank established the country’s first fully equipped IT Center at York Street, Colombo 2, which houses industry's first state of the art Network Operations Center. Subsequently, People’s Bank was awarded the “Asia Pacific Award” for Best Branch Digitization, Application or Program at the Asian Banker Financial Technology & Innovation Awards 2018 for entire Asia Pacific.

While leading IT developments, Priyantha has to focus on customer centricity to drive value for customer via IT deployments by collaborating with bank marketing and business development teams to identify customers and segments where IT can create more value relative to competitors. Simultaneously, he has ensured that the IT deployments truly meet customer needs and benefit them.

One of his most innovative implementations was digitally customer on boarding/ account opening via Tablet by a Digital agent, which helped to attract customers to the concept while achieving a total paperless solution adhering to the Green Banking concept. It is the only bank offering this unique digital offering of customer on-boarding, giving it a clear competitive advantage.

Priyantha Edirisinghe’s professional achievements thus far reflect that he will continue to drive the bank’s vision to greater success.

People’s Bank Achievers Awards 2016
People’s Bank Achievers Awards

People’s Bank Achievers Awards 2016 was eminently held recently in the Eagle Lakeside Hotel at Aththidiya.

 

An awards ceremony hold to appreciate and motivate People’s Bank internal staff members attached to Regions, Branches, SME Centers and all the strategic business units. Accordingly, the individual officers and group of employees who have reported significant achievement having attached to the Corporate Banking Division, Treasury Unit and the Departments of Information Technology, Human Resources, Banking Support Services, Marketing and Research, Finance and Management Accounts, Retail Banking, and Enterprise Banking which contributed for the progress of the People’s Bank and promotion of the business through branch network of the bank were acclaimed.

 

Of the Service Centers, the Service Centers which had collected the highest low cost deposits and the highest personal loans were respectively awarded with bronze, silver and gold awards. Among the whole set of branches, the branches that have effected the highest number of Western Union transactions, secured highest balance of the demand deposits, increased the highest number of low cost deposits, issued the highest number of credit cards and the branches that have issued the highest number of personal loans, the branches that have issued the highest number of commercial loans, highest increase in development loans, highest increase in SME loans, recovered the highest number of non performing loans were awarded with bronze, silver and gold awards. The gold award for the branch that has opened the highest number of letters of credit was achieved by the Kurunegala branch. The bronze silver and gold awards for the highest per employee based business performance were respectively achieved by the Wariyapola, Battaramulla and Delgoda branches.

 

Mr. N. Vasantha Kumar, Chief Executive Officer/General Manager, Corporate and Executive Management and a large number of bank staff participated at this awards night and Mr. Hemasiri Fernando, Chairman of the People’s Bank was the chief guest.

 

Photograph –
Mr.Hemasiri Fernando, Chairman, People’s Bank offered the gold award to Delgoda branch which achieved the Gold award for highest per employee based business performance. Mr. N. Vasantha Kumar, Chief Executive Officer/General Manager, Mr.Bonifuse Silva, Deputy General Manager( Channel Management) are also seen in the picture.

People’s Bank Group posts remarkable LKR 25.4 Bn Pre-Tax Profit
People’s Bank Group
  • All time high of LKR 144.7 Bn in gross income; 19.2% incline in PAT
  • Two LKR 1 Tn Achievements – first for any Sri Lankan bank in one year

The Bank that has always maintained its central ethos of being the pulse of the people, People’s Bank declared an impressive financial performance for the FY 2016, with all Key Performance Indicators showcasing a striking upward trajectory in the Group’s performance. With the Group posting a PBT of LKR 25.4 Bn, which incline of 5.4% examples the Group’s unwavering commitment to continue its spearheading stance as one of vision, action and impact, the 19.2% growth seen in the PAT of LKR 18 Bn, inclining from LKR 15.1 Bn further reiterates this promise.

 

Etching one of the many milestone it has this year, total gross income reached all-time record performance notched at LKR 144.7 Bn, a 16.9% growth compared to LKR 123.8 Bn at end 2015. Net surpluses were well evident across all aspects of investment operations with revaluation and available for sale reserves posted at LKR 11.9 Bn and LKR 0.3 Bn respectively. The Group’s Return on Average Equity was 22.7% compared to last year’s 22%, while the total contribution via taxation, special levies and dividends reflect the integral role the Group plays in national economic development, with its LKR 22.9 Bn contribution, once again considerably higher than last year’s LKR 19.5 Bn.

 

Chairman of People’s Bank Group Hemasiri Fernando commented that the Group’s results exampled the Group’s astute journey within the fast-evolving financial services industry, maintaining an insistent focus on every stakeholder. “Our results are self-attesting to an unrelenting pursuit to add consistent value for the benefit of all our stakeholders. Needless be said, market circumstances in 2016 were challenging and from a macro-economic stand-point, these included, inflationary pressures and a tightening monetary policy which led to a rise in interest rates and high earnings pressure.”

 

The multi-award winning bank locally and globally now with a prestigious ranking of being the 387th largest bank in Asia as per the Asian Banker magazine, People’s Bank’s Return on Equity stands among the top 20 in the region, while a benchmark it further etched this year was the 27.5% Return on Average Equity, which in 2015 was 27.1%. As Fernando opines, “Our successes are ultimately owed to our customers for their trust and confidence in our efforts, our regulators for their support and wise counsel and importantly our employees who consciously and very diligently push the boundaries of success and performance even amidst challenging circumstances.” This customer loyalty is well reflected in the LKR 1.1 Tn in customer deposits representing a 20% growth over the end 2015 LKR 932.9 Bn, certainly one of the highest in the country. Similarly, customer advances too touched the LKR 1 Tn mark, with a 16.6% growth over last year’s LKR 869.8 Bn, at group level

 

Opining that 2016 has been a year of new highs for the bank, CEO/General Manager Vasantha Kumar says, “It’s been one of continuous positive improvement across several aspects of business operations both quantitative and qualitative. It was a year that witnessed two LKR 1 Tn feats in a single year - the first for any Bank, a gross income generating capability cross the LKR 140 billion mark, a loan book composition further improved and a gross non-performing loan ratio reaching a ten year low - the latter evidencing a further improved risk management framework and collection & recovery process.” This is well evidenced in the ten year low Gross NPL ratio of 1.9% (which in 2015 was 2.4%) highlighting the hallmark consistency that People’s Bank has continued to espouse and also a total asset base of LKR 1.4 Tn, which is an 11.6% growth over LKR 1.3 Tn at end 2015.

 

In analyzing the Group’s Capital Adequacy Ratio of 13% with a Tier I ratio or 11.1% and the Bank’s CAR of 12.1% and 9.8% respectively, Fernando clarifies that, “In terms of near-term goals, bolstering our regulatory capital levels remains a priority and a work in process. Ongoing discussions with the Ministry of Public Enterprise Development and the recent cabinet approval received to amend the People’s Bank act are viewed very positively in this connection.” Vasantha Kumar adds that the corporate plan of 2016-2020 forms an integral facet to this success with several new initiatives propelling the Bank towards a new era of performance and delivery capabilities. “Core to them all is Digitization,” he says, of the digitization process that began in 2015 and is well on target to be fully operational by end 2017. “Backed by technology of global repute, and a team unlike any other, this will put us on par with international counter parts in terms of our customer convenience offerings. Not complacent with our successes and conscious of the challenges that may lie ahead, we look to the future with a great degree of optimism”

 

People’s Bank holds customary ‘Avurudu Ganu-Denu’
 promonewsmaylarge

People’s Bank joined the Nation to celebrate the Sinhala and Hindu New Year in true Sri Lankan style when it held one of the most important Avurudu customs – ‘Avurudu Ganu-Denu’ under the People’s Bank Chairman Hemasiri Fernando at its Nuwara Eliya branch.

People’s Bank Initiates to Help the Flood Victims across Sri Lanka
flood

As torrential rains recently wreak havoc across fifteen districts of the Island, People’s Bank expeditiously contributed to aid those who are victimized.

Food and dry rations donated by People’s Bank staff loaded a number of Lorries as relief aid, and reached affected people in Galle, Matara, Rathnapura and Kaluthara districts as well as some other affected areas in the Island.

This community service activity was championed by People’s Bank Chairman Mr. Hemasiri Fernando and Chief Executive Officer/General Manager Mr. N. Vasantha Kumar with kind contribution staff of People’s Bank branches island wide.

 

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