Business Times

PABC Bank on an upward drive

PABC Bank which was established 16 years ago has at present gone through a very progressive transformation. The bank which during the past experienced turbulent times has successfully weathered the storm and is now on an upward drive mainly due to the hard work, required capital infusion and passionate leadership of Mr. Dammika Perera together with his equally dedicated Director Board. The Sunday Times Advertorial Desk spoke to Mr. Nimal Perera, Deputy Chairman of PABC Bank to find out more about the bank’s future plans and goals.

Nimal Perera-Deputy Chairman of PABC Bank

 “We are now on a stable and secure path where we at PABC Bank now have the potential to grow and be in par with the other big players in the banking industry. Our main objective however is to develop the core banking business. In this context we have identified selected areas where we hope to further expand and develop. These include the areas connected with the trading and financing of stock market activities. Currently we at PABC Bank are one of the leading financial requirement providers for this particular sector. In addition to this we are focusing on identifying key customers such as selected high net worth individuals and provide them with very attractive banking facilities that will cater to their varied financial needs”, says Mr. Perera.

 PABC Bank plans to open an estimated 30 branches this year where a minimum of two branches will be opened per month. The main reason behind expanding the bank’s branch network is to provide better accessibility to the bank’s services and products to customers throughout the country. The bank has already set the wheels in motion towards its goal of establishing a total of 100 branches within a two- year time period.

 “Opening branches is a costly affair to any organization due to the high investments that have to be made, especially with regards to the areas of infrastructure developments and staff training etc. We very strictly overlook the performance levels of every new branch that is established and ensure that the customers receive the maximum benefits possible”, further stated Mr. Perera.

 The bank is currently in the process of opening branches in key city locations in the North and East. At present the bank has already opened a few branches in the North and Eastern areas of the country.
 According to Mr. Perera the banking sector is one of the main driving forces of a country’s development. Therefore in order to get to the expected growth rate the country’s banking and financial sectors will have to play a pivotal role.

 “I personally feel that private sector banking will be very much in demand and must go hand in hand with government banking institutions in order to cater to the demands of customers. PABC Bank which is a 100% Sri Lankan banking institution has clearly identified the requirements of its customers and is providing its services to all segments of the society. While we successfully cater to high net worth customers we also very effectively cater to all small and medium business ventures and individuals alike”, added Mr. Perera.

 With the primary activities of a bank functioning in the areas of deposit mobilization and lending, PABC Bank is working towards identifying the requirements associated with these areas of concern and then aligning its products and services to meet these needs without concentrating too heavily on producing a never ending range on new products and services.

 Mr. Perera also emphasized on the scarcity of finding the proper banking staff within the country. With every bank opening branches at such a rapid pace the availability of well trained banking staff has become a hindrance when expanding branch networks.

 Further commenting in this regard Mr. Perera said, “I feel that a new generation of individuals must be trained in the best manner possible in order to enter the banking sectors of the country. The only way to go about this is to establish a good training institute for bankers in the country.”

 Having always followed the unconventional methods in banking and bringing forth out of the box type of solutions into the banking arena Mr. Perera believes that following the unorthodox methodology is the way to reach greater avenues of success especially when it comes to the banking world.

 In conclusion Mr. Perera said, “I want to break the traditional norms and build on new methods of creating new vibes in the banking industry. We have already re-vamped our Head Office building thus creating the right atmosphere for customers to engage in their banking transactions. Backed with the proper resources and strengths that can be found only at PABC Bank we in the future plan to progress forward by creating a new era of banking of which we will be in the forefront of.” - Gayani Perera

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