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People’s Bank launches People’s WiZCredit Digital Loan Services to simplify Personal Loans

Monday, 11 February 2019 Colombo: People’s Bank is poised to revolutionize and simplify the processing of personal loans with the launch of the Retail Loan Origination System (RLOS)-People’s WizCredit.  It is the newest addition to their digital omini channel, under the well-known digital product umbrella of ‘People’s Wiz’, which onboards customers digitally along with a host of value-added services.

The first step for any kind of personal loan application, RLOS  is a business process re-engineering to initiate, submit, recommend, approve and disburse all personal loans on a digital application eliminating paperwork, except for security documents. People’s WizCredit was launched by People’s Bank on 28th January 2019 with the ceremonial opening of the re-located Maharagama Branch, in the presence of Mrs. Sujatha Cooray, Chairperson – Peoples Bank, on the invitation of Mr. N. Vasantha Kumar, CEO/ General Manager. People’s WizCredit will be accessible at 35 main branches in all 24 regions within two weeks and expanded gradually to all branches, with a goal to have 100 branches equipped with the People’s WizCredit this year. Currently, about 300 digital agents are trained to operate the system, which will be initiated with Personal Loans backed by cash margins and personal guarantees, and later extended to motor vehicles and real estate.

People’s Bank’s customers will benefit by way of shorter processing times, as loans will be provided to retail customers through the new People’s WizCredit with a straight-through approval and disbursement process. Any customer applying for a loan through  People’s WizCredit can either visit one of our digitally enabled loan centers or make an online request by entering basic information. The customer will then be contacted by the Bank’s Digital Agent for further details. When the Application is submitted, loan approval/disbursement will happen within an hour up to 7 days depending on the  amount of the loan and collateral documentation implications. The customer’s presence is required only for the signature for submission of application and signing of security documents along with the guarantors if any. This is a process facilitated by the digital agents of the bank and the customer will experience obtaining a loan digitally even if they are not tech savvy.

 

Commenting on this milestone, Mr. Ranjith Kodituwakku - Deputy General Manager/Commercial Banking and Digitalization stated, “The Bank has already mastered the art of digitalization along its digitalization journey and this is yet another industry-leading milestone since the Bank launched its digital onboarding system in 2017. People’s Bank expects to accrue huge delivery efficiency, with loans being dispersed in a timely manner.  People’s WizCredit is a system built as an internal process, which captures relevant details digitally for the respective authority for recommendation and approval on this digital omni platform. Most rules on the digital platform are automated, so for credit officers, it is basically a simple method with the system being logical, robust and accurate as required by credit evaluators. We are gratified that our staff can now be freed up to evolve into bankers who will enhance their knowledge and skills for credit analysis, advisory services and the like, by using brain power.”                                                                                                                                    

The idea to implement RLOS was a result of the bank’s strategic plan 2016/2020, under the digitalization Project of the bank. Having already paved the path to being the Most Digitized Bank in Sri Lanka. People’s Bank won “The Best Digitization Initiative Program Award in the Asia Pacific Region’’ at the Asian Banker Financial Technology Innovation Awards 2018 held in Beijing, China. Along with their visionary digital partner, Silver Lake Digital Economy Solutions, Mr. Edirisinghe, Head of IT, who has previous expertise in this field, the first steps of digitalization are underway.

Currently, the RLOS system is built only for retail banking purposes, but they plan to make the similar process available for corporate customers and others.

Chaminda Ihalakorala - Chief Manager(Commerical Credit) said: “The RLOS is a complete process improvement and a complete revamp of the way loan applications will be handled henceforth. The system will enhance the way bank credit officers work in the future. People’s WizCredit merely eliminates the conventional process to install a faster and more convenient system. The element of evaluating the loan still requires the expertise of credit officers but most of the thumb rules have been taken over by rule engines and logical matrices built in to the process to eliminate the burden of repetitive and typical tasks of the credit evaluating officers. Traditionally, the loan process requires about 15 sequential levels – recommending, approval, up to the  Board level and on to the final approval which could takes days or at times a month, depending on the loan value. But applying through People’s WizCredit will require only a maximum of 3 to 4 levels for recommending/approving and the loan will be passed within a couple of hours or 2-7 days depending on the loan amount and the nature of Collateral Submited.

Where safety is concerned when it comes to online applications, People’s Bank is the only Bank to be certified by the ISO 27001 for security safety. The Bank does regular testing for hacking and ethical hacking and takes other security safeguards.

About People’s Bank

Since its inception 58 years ago, People’s Bank has opened its doors to customers across the country, from all walks of life, providing them with banking services that meet their unique needs and uplift their lives. People’s Bank currently serves over 16 million customers through 738 branches and its connected network of over 4000 ATMs is linked to the Lanka Pay gateway. The bank also continues to play an important role in encouraging various industries including agriculture, real estate, commercial development, small and medium enterprises and exports and this in turn has helped support communities across the country. People’s Bank has always been a driver of financial inclusivity and was also the first bank in the country to commence bilingual operations in Sinhala and Tamil, and thereafter also introduced Sri Lanka’s first trilingual cheque book.

People’s Bank empowers students of St. Sylvester’s College, Kandy, with School Banking unit with Cash Deposit Machine

Tuesday, 12 February 2019, Colombo: People’s Bank inaugurated a new School Banking Unit with a Cash Deposit Machine (CDM) at St. Sylvester’s College, Kandy, recently,  in the presence of P.G.S Bandara, Principal of St. Sylvester’s College,  Bonniface Silva, Senior Deputy General Manager (Banking Operations), People’s Bank, I.K Indika, Kandy Regional Manager and Chamini Wicramarathne, Senkadagala Branch Manager.

The Bank conceptualized School Banking Units to introduce the practice of banking and in cultivate savings habit  students. The Bank has introduce numerous products and services one of them is Sisu Udana, to empower the youth of the country by encouraging uninterrupted education while enhancing their financial literacy. People’s Bank’s children’s accounts are immensely popular and has became a a household name in the country.  

The People’s Bank School Banking Unit offers students of St. Sylvester’s College a host of services such as the facility to deposit coins and cash to their Sisu Udana Accounts; make balance enquiries; issue a handy NFC card with Student Name, Photograph, Admission No etc…) specially designed with respective school colours which can also be used as School ID. students need this card only for cash deposit purposes.

In over five decades of its operations, Sri Lanka’s premier banking institution, People’s Bank, has proved that it is an institution close to the common people of the country, with a special emphasis on children. This is why the bank offers special accounts and services that encourage students to plan for higher education leading to a promising future. The Bank’s consistent customer and community-centric approach has helped it drive innovation and customise products and services that have the maximum impact to enhance lives, being a driver of financial inclusivity. As the Bank enters its 58th year of successful operations, it can look back with pride at a rich legacy of truly being a bank of the people.

People’s Bank’s Union Place Digital Unit offers ‘People’s Wiz Credit’ Digital Personal Loan

The Digital Unit of People's Bank’s Union Place branch was recently declared open by CEO/ General Manager of People's Bank Mr. N. Vasantha Kumar. Customers can apply for Digital Personal Loans and obtain approval at the new Digital Unit with the help of latest technology. It’s also significant that the new loan scheme ‘People’s Wiz Credit’ minimizes waiting time considerably while delivering a speedy service for personal loans.

In a bid to simplify the mechanism of loan processing, People’s Bank took a revolutionary step in introducing a highly efficient Digital Personal Loan scheme based on Retail Loan Origination System (RLOS) in conjunction with the opening of People’s Bank’s Maharagama Branch at its new premises. The Digital Unit at People’s Bank’s Union Place Branch is the second of its kind to launch this special loan scheme.

The new eco-friendly Digital Unit enables zero paper consumption and provides a host of services including opening of digital accounts, mobile banking and internet banking, in addition to facilitating deposit and withdrawal of cash as well as payment of utility bills conveniently and quickly.

Featuring an ultra-modern interior design, the new Digital Unit of People’s Bank is backed by an experienced and well-trained staff to guide and support the customers to enjoy numerous benefits of digital banking.

For over 57 years People’s Bank has extended its unparalleled services to its customers representing all walks of life, and met their financial requirements while supporting to uplift their living standards. People’s Bank launched its Digital Banking campaign in 2016 in order to deliver banking services with higher efficiency and safety while staying abreast of modern financial developments. Marking a historical milestone in the Sri Lankan banking sector, People’s Bank is the first banking institute in the country to spearhead a fully-fledged comprehensive Digitalization campaign which covers the entire operational structure encompassing all tiers, from the lowest to the highest.

The digitalization campaign has evolved the services of People’s Bank in line with the developments of the international banking and financial service sector, enabling People’s Bank to offer services of the highest quality and standard by incorporating latest state-of-the-art technology for its digitalization mechanism. The inauguration ceremony of the new Digital Unit of People’s Bank at Union Place was held with the participation of the Corporate and Executive Management of People’s Bank, the bank staff and a large number of customers.

People's Bank Relocates Maharagama Branch to New Premises

People's Bank's Maharagama Branch was recently declared open at the new premises by Chairperson Ms. Sujatha Cooray.

Maharagama branch was relocated to its new premises and consists of a special Digital Unit, in a bid to provide seamless benefits of modern banking to the residents of Maharagama area. In conjunction with the opening ceremony, a Digital Loan system was also launched for the first time allowing customers to obtain personal loans quickly and more efficiently with the help of modern technology.

Maharagama branch also facilitates a Self-Banking Unit, offering the convenience of performing transactions 24 hours a day and 7 days a week. The Self-Banking Unit is furnished with an Automatic Teller Machine (ATM), Cash Deposit Machine (CDM) and a Kiosk to conveniently withdraw cash, deposit cash or pay utility bills respectively.

CEO/ General Manager of People's Bank Mr. N. Vasantha Kumar, Corporate and Executive Management of People's Bank, the staff of People’s Bank and a large number of customers were present at the occasion.

People’s Bank recognizes staff who completed 25 years and 40 years dedicated service to the bank

People’s Bank recently organized a felicitation ceremony to recognize and felicitate long serving employees of the bank in the presence of its senior management and fellow colleagues. Titled ’25 Years of Service’, the event was graced by Mrs Sujatha Cooray, Chairperson of People’s Bank, and Mr. N.  Vasantha Kumar, Chief Executive Officer/ General Manager. Gold Souvenirs were awarded to 761 staff members who completed 25 glorious years of service to the Bank. To make the occasion even more meaningful, further special endowments were gifted to 38 employees who completed 40 years of service to the bank, which is a very rare privilege.

The customer-centric nature of the Bank staff has played a pivotal role in garnering a large loyal customer base. People’s Bank offers a challenging career and growth prospects for its employees, supported by constant training and skills enhancement programmes. The loyal, dedicated and single-minded devotion demonstrated by long serving staff who were felicitated at the occasion have been instrumental in the Bank’s today’s success.

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 offers Digital Banking facilities at Family Fair 2018

People’s Bank partnered with the Family Fair 2018, one of the biggest industry exhibitions in the country, which ended recently on a successful note. As the official Banking Partner of Family Fair 2018, People's Bank featured a fully-fledged stall furnished with most modern digital banking facilities, drawing crowds in large numbers.

Standing testimony to People's Bank’s numerous accomplishments in the sphere of Digital Banking, the stall featured a fully digitalized Branch completed with a Self-Banking Unit. The stall offered a number of facilities including opening digital accounts, deposit or withdrawal of cash via Self Banking Service, in addition to hassle free payment of utility bills. 

Visitors were invited to explore the functions and benefits of People's Wave Mobile App. Applications for People's Credit Card were also available for those interested, which entitles the holders to a host of exclusive discounts when purchasing products from some of the most leading shops in the country.

Since its inception 57 years ago, People’s Bank has opened its doors to customers across the country, and has continuously leveraged its resources to uplift many lives through financial services. With an insight into the financial needs of the citizens, from young to old, People's Bank has constantly strived and committed itself to elevate the living standards of the citizens.

Through its massive network of 738 branches island-wide and over 4000 ATM machines and affiliated to Lanka Pay Gateway, 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 agriculture, real estate, commercial development, small and medium enterprises, as well as import and export sectors; supporting a holistic development of communities throughout the island.

People’s Bank takes centre-stage at the National Business Excellence Awards 2018

Going from strength to strength in its journey of excellence, People’s Bank was bestowed with 2 prominent awards at the prestigious National Business Excellence Awards 2018 held on 5th December 2018 at Colombo Hilton. The Bank was awarded the prestigious accolade of ‘Winner – Excellence in local market reach’ and ‘Runner up in the Banking Sector’. The National Business Excellence Awards are organized by the National Chamber of Commerce of Sri Lanka to honour those Sri Lankan business houses that have excelled in their fields of business. The awards recognize and reward enterprises that have excelled in each of the criteria such as Corporate Governance, Capacity Building, Performance Management, Global and Local Market Reach, Corporate Social Responsibility & Environmental Sustainability, and Business and Financial Results.  People’s Bank was also bestowed with the Silver Award for ‘Service Brand of the Year’ at the recently-concluded 2018 SLIM Brand Excellence awards.

Taking digital banking to its next level and introducing green banking to youth, People’s Bank has established 200 Self Banking Centres equipped with the most modern ATM, CDM and Kiosks. The touch screen CDM/ATM/Kiosks are accessible 24 hours in the day, for 365 days in the year, further enhancing convenience for customers and putting them in control of where, when and how they would like to conduct their banking needs. In addition, the People’s Bank Mobile Banking App, ‘People’s Wave’ has emerged as one of the most popular financial services applications in the country, again demonstrating the Bank’s ability to understand the expectations of its customers. The bank has always played a pivotal role in encouraging agriculture, plantations sector, commercial, Small & Medium Enterprises (SMEs) and foreign income generation, by introducing various loan schemes to strengthen the business community. The credibility of being a government bank coupled with competitive interest rates has earned for itself the complete trust of the public.

Going ahead, People’s Bank plans to take digital banking to the doorstep of rural consumers so that they could conduct their transactions on mobile devices and expects to roll out more fully digitalised branches over the coming months, thus fulfilling its sustainability pledge to reduce its carbon footprint and benefit the environment by promoting paperless banking.

Since its inception 57 years ago, People’s Bank has opened its doors to customers across the country, from all walks of life, providing them with banking services that meet their unique needs and uplift their lives. People’s Bank currently serves over 16 million customers through 738 branches and its connected network of over 4000 ATMs is linked to the Lanka Pay gateway. The bank also continues to play an important role in encouraging various industries including agriculture, real estate, commercial development, small and medium enterprises and exports and this in turn has helped support communities across the country. People’s Bank has always been a driver of financial inclusivity and was also the first bank in the country to commence bilingual operations in Sinhala and Tamil, and thereafter also introduced Sri Lanka’s first trilingual cheque book.

Rasitha Gunawardena - Designate Chief Executive Officer/General Manager of People’s Bank and Senior Deputy General Manager( Business Banking), Bonniface Silva- Senior Deputy General Manager (Banking Operations),  Azzam A Ahamat - Head of Finance and  A.U.L.A Anzar- Assistant General Manager(Marketing) were present at the awards ceremony to accept the awards.

People's Bank Sports Festival 2018

People's Bank Sports Festival 2018, organized by the People's Bank, concluded on a successful note at the Polonnaruwa National Stadium recently.

The sports festival was organized in a bid to develop camaraderie, unity and mutual understanding among People's Bank employees serving across the island. A large number of athletes and employees participated in the sports festival representing all regions of People's Bank.

NuwaraEliya Regional clinched overall Championship while Batticaloa Regional became the First Runner-up. In addition, Jaffna Regional Branch was awarded Athletics Championship, NuwaraEliya Regional was awarded Football and Volleyball Championships, Kandy Regional was awarded Netball Championship and Matale Regional was awarded Cricket Championship. Polonnaruwa Regional crowned Men's Tug of War Champion, while Batticaloa Regional clinched the Women's Tug of War Champion Trophy. People's Bank Western Zone 1 Regional was adjudged the winner of People's Bank Chairman's Trophy Inter-Provincial Six-a-Side Hard ball Cricket Tournament.

People’s Bank Sports Festival was conducted under the patronage of People’s Bank CEO/ General Manager Mr. N. Vasantha Kumar. Designate CEO/ General Manager of People’s Bank’s Mr. Rasitha Gunawardena, Senior Deputy General Manager (Banking Operations) Mr. Bonniface Silva, Deputy General Manager (Banking Support Services), Mr. Mahinda Premanath and Deputy General Manager (Human Resources) Mr. P.R.S. Jayatissa were among the dignitaries who graced the occasion.

People’s Bank supports The Employers Federation of Ceylon to hold its annual Employers’ Symposium 2018

Friday, 16 November 2018 Colombo: People’s Bank sponsored the Employers’ Symposium 2018, which was held at Galadari Hotel recently. Organized by The Employers Federation of Ceylon, the Employers’ Symposium 2018 focused on a gamut of issues shaping the future of the work, including Impact of Digitalization and Automation; Challenges of Transition; Future of Work and Managing Diversity under the theme, ‘Shaping the Future of Work’. The sponsorship award was accepted by Mr. Rasitha Gunawardena - Designate Chief Executive Officer/General Manager,from the Association. The event was attended by corporate leaders who shared their opinions. The Symposium comprised of a broader discussion based on case study presentations and panel discussions by eminent experts representing business, policy makers, corporate management as well as employers selected from a wide array of sectors.

As one of the largest employer in the country in the banking arena, people’s Bank attributes its success to its base of over 10,000 employees. The national bank, which is driving digitisation aggressively across the enterprise, is having a positive impact on employees as well. People’s Bank’s digital journey is empowering its employees to leverage on technology to deliver a more customer oriented service to valued customers while delivering greater workplace satisfaction.  

Since its inception 57 years ago, People’s Bank has opened its doors to customers across the country, from all walks of life, providing them with banking services that meet their unique needs and uplift their lives. People’s Bank currently serves over 10 million customers through 738 branches and its connected network of over 4000 ATMs is linked to the Lanka Pay gateway. The bank also continues to play an important role in encouraging various industries including agriculture, real estate, commercial development, small and medium enterprises and exports and this in turn has helped support communities across the country. People’s Bank has always been a driver of financial inclusivity and was also the first bank in the country to commence bilingual operations in Sinhala and Tamil, and thereafter also introduced Sri Lanka’s first trilingual cheque book.

People’s Bank’s Digital Stall at INFOTEL 2018

05 November 2018, Colombo:  As  the ‘Gold Sponsor’ of Infotel 2018, Sri Lanka’s premier national ICT exposition and conference, People’s Bank installed a state-of-the-art People’s Digital Stall at the BMICH for the duration of the exhibition from 2nd to 4th November 2018 to showcase its pioneering achievements in digital banking. The Bank’s partnership with Infotel 2018 is aligned to its own ambitious digitalization journey towards becoming Sri Lanka’s Most Digitalized Bank by 2020. The People’s Bank’s digitized stall comprised of a fully-fledged digital branch - complete with a Self Banking Unit (CDM/ATM/Kiosk). Reflecting a high level of digitization for customer convenience, these facilities offer customers the comfort of seamless transactions. People’s Bank invited Infotel visitors to open digital accounts at the venue ad experience the popular People’s Wave Mobile App, which offers an exclusive digitalized banking experience and enables banking on the go. There was a high level of interest among visitors who thronged to the People’s Digital Stall to learn more about the Bank’s digital initiatives and how they enhance the overall banking experience.

People’s Bank has stepped forward as the Gold Sponsor for Sri Lanka’s flagship ICT Expo, INFOTEL-2018, being held  under the theme - ’Towards a Digital Economy’. Infotel is Sri Lanka’s premier national ICT exposition and conference, organized and hosted by the Federation of IT Industry Sri Lanka (FITIS) and was held from 2 to 4 November.  FITIS is the voice of the Sri Lanka’s Information and Communication Technologies (ICT) industries, which is comprised of companies and IT professionals representing software, hardware, education and training, communication services and professional service segments of Sri Lankan ICT industries.

People’s Bank is forging ahead towards being the most successful bank in Sri Lanka through the digitization of its services. The Bank currently serves over 10 million customer account relationships, through 738 branches and is also connected to a network of over 4000 ATMs which are linked through the Lanka Pay gateway. People’s Bank is in the ideal position to take the convenience of digitalized banking services of to all citizens of Sri Lanka.

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.

Entrepreneurial Glory Programme Galle

People’s Bank reaffirms its commitment in driving the SME sector to greater heights with it’s 'Entrepreneurial Glory’ Programme

As per its vision to propel the expansion and expertise of Small and Medium Businesses, People’s Bank held its ‘Entrepreneurial Glory’ programme at the Sun Dream Hotel in Galle.

The programme features a series of seminars tailor-made to provide insight and expertise to entrepreneurs looking to start or expand their business. Deputy General Manager (Enterprise Banking) of People’s Bank V.K Narangoda, Assistant General Manager (SME) of People’s Bank Mr. Wickrama Narayana, Galle Regional Bank Manager Mr. S.A.M Samarathunga, Commissioner of Inland Revenue Department Mr. Bandula Haputhanthrige and renowned Skills Development Specialist – Sanath Gamage were among the dignitaries who graced the occasion. A large gathering comprising customers and entrepreneurs were also present at the event.

 

The seminar aims at providing vital information for entrepreneurs to increase their knowledge on Business planning, Marketing, accounting, financial and time management whilst providing key information on taxes and banking procedures. From its inception, People’s Bank has supported SME’s, as it is the engine of growth for the economy by providing them a variety of financial solutions. Via the Entrepreneurial Glory programme, the Bank goes a step further by providing valuable know-how to these businessmen to drive the economy in a more productive manner.

Add more to life with every swipe of People’s Bank credit cards for 0% interest plan at leading merchants

17 September 2018, Colombo: People’s Bank has launched an exciting promotional campaign for its credit card holders, which adds more value to their lives through amazing discounts at leading lifestyle stores. The promotion ends on 31st October 2018. People’s Bank Credit Card holders can swipe freely and pay monthly in addition to enjoying a 0% interest plan up to 36 months. People’s Credit Cards offer the lowest interest rate and fee structure, making it the preferred credit card in the country. Furthermore, the Bank’s vast network of over 730 branches makes bill settlement extremely simple. Customers can also avail themselves of People’s Bank’s advanced Mobile and Internet banking facilities.

People’s Bank Credit card holders can enjoy 0% interest plan up to 36 months for purchases made with PB Credit card: Abans, Damro, Softlogic Lifestyles, Softlogic, Mobitel, Hameedia, Camera.LK, Wasi.lk, mySoftlogic.lk, People’s Travels, Crazy Jets, Insureme.lk, Buy Abans.lk, Arpico Furniture, SoftlogicMax, Dinapala Group, W.A.De Silva & Co, VisionCare Optical Services, Fitness Connection, bigdeals.lk, takas.lk, findmyfare.com, IBSL and People’s Insurance. Call People’s Bank Call Centre on 1961 to initiate installment plans to add more to life!

Commenting on the credit card promotion, Mr K.B Rajapakse, Senior Deputy General Manager (Retail Banking) said, “We are delighted to offer a discount bonanza to our People’s Bank credit card holders in partnership with leading lifestyle merchants in Sri Lanka. Our cardholders can shop freely, swipe with ease and pay monthly, while enjoying amazing discounts from merchants spanning travel, clothing, house ware, electronics and much more to meet their aspirations. Our credit cards have earned a wide customer base because of the industry lowest interest rates in addition to popular discount offers that add immense value to our customers’ lifestyles.”

About People’s Bank

Since its inception 57 years ago, People’s Bank has opened its doors to customers across the country, from all walks of life, providing them with banking services that meet their unique needs and uplift their lives. People’s Bank currently serves over 16 million customers through 740 branches and its connected network of over 4000 ATMs linked to the Lanka Pay gateway. The bank also continues to play an important role in encouraging various industries including agriculture, real estate, commercial development, small and medium enterprises and exports and this in turn has helped support communities across the country. People’s Bank has always been a driver of financial inclusivity and was also the first bank in the country to commence bilingual operations in Sinhala and Tamil, and thereafter introduced Sri Lanka’s first trilingual cheque book.

People’s Bank inaugurates Sri Lanka’s first ever School Banking unit with Cash Deposit Machine at Ananda College

01 October 2018, Colombo: Forging ahead in its mission to digitally empower the nation, People’s Bank established a Sri lanka’s first ever ‘School Banking Unit with CDM’ at Ananda College, Colombo 10, which was ceremonially declared open by the CEO/General Manager of People’s Bank, N. Vasantha Kumar. The event was witnessed by Mr. S.M Keerthirathne, Principal, Ananda College,Colombo along with the Corporate and Executive Management teams of People’s Bank, Teachers and Staff of Ananda College. The objective of this School Banking unit is to extend banking facilities to students for enhanced convenience and safety, while inculcating the savings habit. 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 popular children’s accounts which offer amazing benefits.

Commenting on the occasion, Ms. Renuka Jayasinghe, Deputy General Manager (Process Management and Quality Assurance), People’s Bank said, “People’s Bank is pleased to inaugurate the School Banking Unit at Ananda College. one of the important segment of our customer base are students and we pride ourselves on the fact that People’s Bank is the preferred bank parents recommend to their children to save for their future. Having our Banking Unit located within the school premises will offer unimaginable convenience to both students and parents. We believe this step will empower children with understanding of the banking process and instill the habit of saving for the future.

The People’s Bank School Banking Unit offers students of Ananda College a variety of services such as the facility to deposit coins and cash to their Sisu Udana Accounts; make balance enquiries; no banking slips; issue a handy NFC card with Student Name, Photograph, Admission No etc…) specially designed with respective school colours which can also be used as School ID. Students will only need the NFC Card for making deposits.

In over five decades of its operations, Sri Lanka’s premier banking institution, People’s Bank, has proved that it is an institution close to the common people in the island of Sri Lanka, with a special emphasis on children, who are the future of the nation. This is why the bank offers special accounts and services that encourage students to plan for higher education and a promising future. The Bank’s consistent customer and community-centric approach has helped it drive innovation and customise products and services that have the maximum impact to enhance lives, all the while being a driver of financial inclusivity. As the Bank celebrates its 57th year of successful operations in 2018, it can look back with pride at a rich legacy of truly being a bank of the people.

Enterprise Sri Lanka Programme, The inaugural loan counter was launched at People's Bank

Under the “Enterprise Sri Lanka” Programme, The inaugural loan counter was launched at People’s bank headquarters branch at Colombo 02, with the auspices of Hon. Minister of Finance and Mass Media Mangala Samaraweera, Hon. Minister of Public Enterprise & Kandy City Development Lakshman Kiriella, Hon. State Minister of Finance Eran Wickramaratne; Hon. Member of Parliament Wijepala Hettiarachchi, Secretary, Ministry of Finance Dr. R. H. S Samaratunga, Chairman of People’s Bank - Hemasiri Fernando, Member of Director Board of People’s Bank Chandra Ekanayaka, Chief Executive Officer/ General Manager N. Vasantha  Kumar and Members  of the Corporate and Executive Management of People’s Bank.

Image Caption - Hon. Minister of Finance and Mass Media -  Mangala Samaraweera handing over loans to entrepreneurs and Hon. Minister of Public Enterprise & Kandy City Development Lakshman Kiriella signing the guest book.

People’s Bank opens Self-Banking Unit at the NuwaraEliya Branch Premises

People’s Bank recently inaugurated a Self-Banking Unit (CDM/ ATM/ Kiosk) at the premises of People’s Bank NuwaraEliya branch, in conjunction with the spring festival in NuwaraEliya.

Equipped with Two Automatic Teller Machines (ATM), Cash Deposit Machine (CDM) and a Kiosk for payment of utility bills, the new Self-Banking Unit will bring the convenience of a hassle free and streamlined banking experience 24 hours a day, 7 days a week and 365 days a year.

Mr. Hemasiri Fernando – Chairman of the People’s Bank, Mr. N. Vasantha Kumar – CEO/ General Manager, Mr. Chandana Lal Karunaratne – Mayor of NuwaraEliya, Mr. Rasitha Gunawardena – Senior Deputy General Manager (Business Banking), Mr. K.B. Rajapakse – Senior Deputy General Manager (Retail Banking), Mr. Bonniface Silva – Senior Deputy General Manager (Banking Operations), Mr. Krishantha Gunaratne – Assistant General Manager (Channel Management & ATM Opearations), Mr. O.K.R.D. Wasantha– Nuwara Eliya Regional Bank Manager, Assistant Regional Managers including Mr. Manjula Dissanayake and Mr. K. Chandrakumar, as well as Mr. H.M.A. Wijetunga – NuwaraEliya Branch Manager, the staff of People’s Bank and the customers graced the inauguration ceremony.

The Bank of the People 12th consecutive year of winning SLIM Nielson People's Awards 2018

People's Bank clinched the 'People’s Service Brand of the Year” and ‘People’s Banking Service provider of the Year” awards at the recently concluded SLIM-Nielson People's Awards 2018. Organized by the Sri Lanka Institute of Marketing (SLIM) and the Nielsen - a leading global information and measurement company, People's Bank was crowned once again with the People’s Award for the 12th consecutive time.

Rasitha Gunawardana- Senior Deputy General Manager (Business Banking), People’s Bank, K.B Rajapakse- Senior Deputy General Manager (Retail Banking), Bonniface Silva- Senior Deputy General Manager (Banking Operations), Lionel Galagedara- Deputy General Manager(Retail Banking), Azzam A Ahamat - Head of Finance , A.U.L.A Anzar- Assistant General Manager(Marketing), T.M.W Chandrakumara-Galle Regional Manager, R.Ravikaran- Trincomalee Regional Manager and Naleen Pathiranage - Matale Regional Manager were present at the awards ceremony to accept the awards.

Serving the Sri Lankan’s over 55 years, People's Bank is one of the largest financial institutions in the country claiming assets worth over Trillion Rupees. Spanning across the country with well-connected network of over 735 branches, People's Bank facilitates more than 4000 Automatic Teller Machines (ATMs) in collaboration with the Lanka Pay service to provide round the clock service. The bank's dedicated staff counting nearly 10,000, serves a massive customer-base of over 10 million customers island-wide.

Taking steps to introduce a host of diversified banking solutions to customers ranging from all walks of life, People's Bank has also introduced a number of loan schemes such as Personal Loans, Housing Loans, Professional loans, Educational Loans and Vehicle Loans to name a few in order to uplift the living standards of its customers, in addition to supporting their enterprise development. Furthermore, the bank has offered various loan schemes to support the farming and fishing communities in addition to Small and Medium Entrepreneurs. More information could be obtained via our official website: www.peoplesbank.lk or Facebook page: peoplesbanksrilanka.

People's Bank's Corporate Banking Division not only serves corporate clients but also connects with over 900 agents from 103 countries across the world to provide financial and consultation services for clients engaged in international trade.

Moreover, with the introduction of Mobile Banking, People's Net and People's Palmtop services, the customers of People's Bank now enjoy state-of-the-art banking experience. Collaborating with the country's leading telecommunication service providers People's Bank's Mobile Banking service allows the customers to conveniently perform various banking transactions and pay utility bills via their mobile phones. In addition, the People's Net website facilitates internet banking services in a highly secure environment.

Taking digital banking to its next level while introducing green banking to youth, People’s Bank has established Self Banking units equipped with the most modern ATM, CDM and Kiosks. The centres are open 24/7 allowing customers to conduct hassle free transactions including withdrawal, deposits and payment of their utility bills. The latest addition to the People’s Bank – the People’s Bank Digital Centre at York Street, Colombo 1 has brought an unprecedented banking experience to its discerning customers.

Portraying its competencies in the discipline of IT security, the bank has recently won the highest international accreditation for information protection and security - theISO/IEC 27001:2013 certification. It’s also significant thatPeople’s Bank is the first and only bank in Sri Lanka to win this prestigious accreditation.

As an institution committed towards social responsibility and sustainability, People's Bank is paving the way towards a green future through their sustainable environment policy - 'People's Green Pulse'. 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 receiving the "People’s Service Brand of the Year"
  • People’s Bank receiving the "People’s Banking Service provider of the Year" award
People’s Bank’s Unveils New Corporate Logo to Reflect Evolving Aspirations of the Bank and its Stakeholders
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Friday, December16th, 2016, Colombo:People’s Bank proudly launched its new logo recently to reflect the Bank’s evolution to keep pace with new global banking trends and to cater to fast-changing aspirations of customers. Reflecting trust, sophistication and efficiency, the symbolic hands in the new logo represent good governance and the peoples’ co-operation and unity. This initiative reflects People’s Bank’s dynamic digitalization drive in addition to its impactful sustainability agenda that is leading the national bank to break new ground in offering revolutionary banking solutions. The launch of the new logo mirrors this forward momentum of the bank into the future.

 

Speaking on the occasion of the logo launch, Minister of Public Enterprise Development, Hon. Kabir Hashim ‘expressed these sentiments: “It gives me great pride to witness the symbolic unveiling of People’s Bank new logo, which reflects the Bank’s new aspirations that are mirrored by the citizens of Sri Lanka as well. Now that People’s Bank has set out on the path of digitalization, it will usher in a new era of positive change and value addition by delivering its signature warm and friendly services. The revamped logo is an iconic symbol of how much the bank has achieved in empowering its customers over the decades. People’s Bank has truly been instrumental in sustaining and empowering the Sri Lankan economy. Digitalization is the next big step that will enhance experiences for their loyal account holders.”

 

Commenting on the unveiling of the new logo, Chairman of People’s Bank, Mr. Hemasiri Fernando said, “We are delighted to unveil a new logo and a new identity for People’s Bank. This new corporate logo defines our ambition and the pioneering journey ahead. Our evolution into digital banking and our sustainability initiatives are transforming banking in the nation. While we may be embarking on a new path, our modern and sophisticated logo reflects our respect for tradition with familiarity and trust - values that People’s Bank embodies and upholds. As we journey ahead, People’s Bank will always remain in sync with the pulse of the people, incorporating convenient banking solutions that transform the lives of our customers by delivering convenience, value addition, reliability and confidence. As a bank of the people, we are pioneers in the sector and are confident of sustaining our leadership in the digital era too.”

 

In order to symbolize the purpose of People's Bank, the initial logo of the Bank was an emblem with two stalks of grain (to symbolize agriculture), industrial wheel (to symbolize industries) and two hands (to symbolize providing support to people). Since then the Bank logo went through many stages of enhancement and the present logo was introduced in the year 2000. Preserving the originality and its promise, the Bank logo will go through a further enhancement as a result of a recent survey conducted, improving only the colour palette and People‘s Bank lettering to better convey people’s expectations in the areas identified by the survey; and trust, efficiency and sophistication and to win more clarity and visibility.

 

The Bank has always championed change as a trendsetter and it is also setting industry benchmarks in its digitalization drive. By becoming the Most Digitalized Bank in Sri Lanka, People’s Bank will have the bandwidth to ensure universal access for all thereby achieving total financial inclusion. The bank’s ambitious digitalization drive will empower it to deliver a seamless digital experience to customers and elevate Sri Lanka’s banking and financial services to an international digital platform.

 

The Bank recently pioneered Sri Lanka’s first-ever People’s Bank Voice App, which empowers customers to check their account balance via their mobile phones by a simple voice command.

 

Furthermore, the Green Banking Concept – YES - is yet another demonstration of the Bank’s vision to digitize and become a paperless bank, reduce its carbon footprint, preserve the environment and use energy more efficiently to secure a more sustainable future. This eco-friendly savings product - the ‘Young Executive Saver’ or YES account has grown in popularity and is attracting youth in numbers, encouraged by the ‘young vibe’ of the product, to save and enjoy the benefits of paperless banking. Under the theme ‘Go Green with YES’, the account delivers banking services electronically via e-statements, mobile and internet banking and paperless communications.

 

Since its inception 55 years ago, People’s Bank has opened its doors to customers across the country, from all walks of life, providing them with banking services that meet their unique needs and uplift their lives. People’s Bank currently serves over 16 million customers through 740 branches and its connected network of Over 3000 ATMs is linked to the Lanka Pay gateway. The bank also continues to play a important role in encouraging various industries including agriculture, real estate, commercial development, small and medium enterprises and exports and this in turn has helped support communities across the country. People’s Bank has always been a driver of financial inclusivity and was also the first bank in the country to commence bilingual operations in Sinhala and Tamil, and thereafter also introduced Sri Lanka’s first trilingual cheque book.

 

Caption - The new logo was unveiled by Hon. Kabir Hashim - Minister of Public Enterprise Development, Hemasiri Fernando - Chairman of People’s Bank and N. Vasantha Kumar – Chief Executive officer/ General Manager look on.

People’s Bank clinches Slim-Nielson People’s awards for the 11 th consecutive time
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People's Bank won the 'People’s Service Brand of the Year' and 'People’s Banking Service Provider of the Year' awards for the 11th consecutive time at SLIM-Nielson People's Awards 2017 recently. People's Awards ceremony was hosted by the leading global information and measurement company Nielson and the Sri Lanka Institute of Marketing.

 

Head of Marketing at People's Bank Mr. Deepal Abeysekara is pictured accepting the award for "Service Brand of the Year', at People's Awards ceremony held at Battaramulla Water's Edge. Deputy General Manager (Process Management and Quality Assurance) Mrs. Renuka Jayasinghe, Head of Treasury and Investment Banking Mr. Clive Fonseka, and Assistant General Manager (Marketing and Public Affairs) Mrs. Yugani Mendis were also present at this occasion.

 

People's Bank is the second largest financial institution in the country, claiming to an asset base exceeding Rs. 1 trillion. The bank also holds the highest clientele claimed by a commercial bank in Sri Lanka, amounting to over 14 million customers served by its 735 plus branches island- wide. People’s Bank also delivers optimal security measures for the customer savings, maintaining security levels on par with a state bank.

 

Taking digital banking to its next level and introducing green banking to youth, People’s Bank has established Self Banking Centres equipped with the most modern ATM, CDM and Kiosks. The centres are open 24/7 allowing customers to conduct hassle free transactions including withdrawal, deposits and payment of their utility bills. The bank also offers a total of 3125 ATMs linked with Lanka Pay service, serving the customers round the clock. Further details on its services can be obtained via People’s Bank website -www.peoplesbank.lk or Facebook page - peoplesbanksrilanka.

 

As an institution committed towards social responsibility and sustainability, People's Bank is paving the way towards a green future through their sustainable environment policy - 'People's Green Pulse'. People’s Bank aims to provide innovative and convenient banking solutions, consolidate reliability and proceed forward as a bank of the masses while adding value to the lives of its discerning customers.

People's Bank Marandagahamula Branch relocates
branch location

The new two-storey building and Self Banking Unit of People's Bank Marandagahamula Branch was declared open by Chief Executive Officer / General Manager of People's Bank Mr. N.Vasantha Kumar recently.

 

The new branch - complemented with all banking services, various loan facilities in addition to safe deposit boxes - was established with the aim of offering modern banking facilities and an efficient service to Marandagahamula residents. Customers can enjoy the benefit of banking 7 days a week and 24 hours a day via the Self Banking Unit established at the new branch. The Self Banking Unit is equipped with the most modern ATM, CDM (Cash Deposit Machine) as well as a Kiosk to perform withdrawal, deposit and make utility payments respectively.

 

The inauguration ceremony was held in the presence of a large gathering comprising dignitaries, well wishers, bank employees and the bank’s discerning customers. Deputy General Manager of People's Bank (Channel Management) Mr. Bonifus Silva, Deputy General Manager (Bank Support Services) Mr. Mahinda Premanath, Gampaha Regional Manager Mr. Vasantha Rathnayake as well as Branch Manager Ms. Manjula Damayanthi were also among the distinguished participants.

 

Photo:
Chief Executive Officer / General Manager of People's Bank Mr. N. Vasantha Kumar cutting the ribbon to declare open the new branch.

People's Bank launches 'Swashakthi' Loan in tandem with one million jobs program
Swashakthi

People’s Bank has proactively joined the Swashakthi Loan scheme initiated by the Ministry of National Policies and Economic Affairs and the Central Bank of Sri Lanka, disbursing loans via its extensive branch network of more than 730 branches island-wide. The inaugural program for awarding Swashakthi loans was recently held at People’s Bank Nuwara Eliya branch under the patronage of People's Bank Chairman Mr. Hemasiri Fernando.

 

Swashakthi Loan scheme offers loans and financial aids to new and existing entrepreneurs engaged in businesses related to agriculture, animal husbandry, industrial and service sectors at grass-root level. The program was implemented by People’s Bank with the objective of joining the government’s initiative for generating one million jobs by establishing micro, small and medium scale enterprises island-wide. The bank also expects to boost rural economy via inclusion of new technologies in addition to utilization of rural resources by fostering skills of rural youth.

 

The Swashakthi Loan Scheme will also see to the empowerment of micro entrepreneurs, new entrants with innovative business ideas, graduates, women as well as differently-abled youths from the rural communities.

 

Accordingly, the bank will disburse a business loan of up to Rs. 250,000 to at 5.5% concessionary interest rate to small and medium scale entrepreneurs. In addition, the new entrants will benefit from a grant of up to Rs. 50,000. The beneficiaries will also receive a period of five years to repay the loan, which includes a maximum grace period of 12 months.

People’s Bank Self banking Unit for Kandy
People’s Bank Self banking Unit for Kandy

The latest Self Banking Unit of the People’s Bank (CDM/ATM/Kiosk) was declared open recently by Mr.N.Vasantha Kumar, Chief Executive Officer/General Manager of the People’s Bank, at the People’s Bank Branch at Dalada Veediya, Kandy

 

The Self Banking Unit, which was installed under People's Bank digital banking conversion process, is complemented with an Automatic Teller Machine (ATM), Cash Deposit Machine(CDM) and and Bill Payment Machine (Kiosk). This unit will be opened round the clock on all seven days, offering customers a convenient and highly efficient banking service throughout the year.

 

The opening ceremony was held with the participation of Mr. Boniface Silva, Deputy General Manager(Channel Management), Mr. Lional Galagedara, Deputy General Manager (retail banking), Regional Manager(Kandy) Mr. Emil Mendis, Kandy Branch Manager Mr. Nalin Poththawela and the People's Bank staff as well as clients were among the participants.

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”

 

Congratulations to the Shining stars of the new generation
 Shining stars of the new generation

The top performers in the 2016 Grade 5 Scholarship Exam and GCE A/Level exam were awarded valuable prizes by People’s Bank in the Presence of His Excellency Maithripala Sirisena – President of Sri Lanka, Hon Ranil Wickramasinghe – Prime minister of Sri Lanka, Hon Akila Viraj Kariyawasam – Minister of Education, Mr W.M.N.J Pushpakumara – Commissioner General of Examination and N. Vasantha Kumar –CEO/GM of People’s Bank at the Presidential Secretariat.

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