HNB this week entered into an agreement with the German Development Finance Institution, DEG to raise US$ 25 million through a 8-year subordinated loan which forms part of tier II capital of the bank. The funds would be utilised to finance the growth in small and medium enterprises, the bank said in a media statement.
The agreement was signed in Colombo by Dr. Ranee Jayamaha, Chairperson and Rajendra Theagarajah, Managing Director/CEO of HNB and Dr. Hubertus Pleister, Director Asia at DEG, and Mr. Matthias Goulnik, Vice President Asia at DEG. With the signing of the agreement, the total capital and long term debt raised by HNB during the past 10 months is over Rs. 21.5 billion.
Dr Ranee Jayamaha was quoted as saying that, “the funds raised from DEG will not only boost the loanable funds available to HNB but also form part of a solid foundation in fostering the medium to long term growth of the bank.”
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| Picture shows Dr Ranee Jayamaha, Chairperson of HNB and Dr. Hubertus Pleister, Director Asia of DEG exchanging the agreement. From left Matthias Goulnik, Vice President Asia-DEG, Jens Plötner Ambassador of Federal Republic of Germany, Rajendra Theagarajah, Managing Director/CEO- HNB, Jonathan Alles, Deputy Chief Executive Officer - HNB and Nihal Kekulawala, Senior Deputy General Manager – Strategy and Compliance -HNB. |
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