The leading financial institution recently added a number of products to its service portfolio aimed creating a more inclusive customer base such as SSE’s.
“Initially, we focused primarily on providing services to the SME sector. However, we found that there was a clear and growing market requirement for Small Scale Enterprises (SSE’s).
These are businesses that are not identified as SME’s but – with the right support – can easily develop to that level,” HNB Finance CEO/Managing Director Mr. Chaminda Prabhath said elaborating on how the pioneering financial institution will look to fill the vacuum of services available to small businesses that are on the cusp of being in the SME sector.
“As a result, HNB Finance has updated its portfolio to more effectively cater to their needs.
Combined with our expertise in working as partners in building the success of our clients, we are confident that HNB Finance will be at the forefront of this business segment,” he added.
HNB Finance offers services such as collateral free loans, gold loans and leasing backed by attractive benefits to a segment of the financial market that is often ignored by the banking system of our country.
This financial institution’s mission has dovetailed neatly with the existing strategy and business alignment of HNB Finance as it has had the dual effect of enabling the organization to acquire an extremely diverse customer base while presenting the opportunity for individuals to conduct all financial transactions within a single, trusted financial service provider.
“We see great potential in this market segment because of the experience we already have in serving this segment of customers.
Many of our customers used to come to us only for business loans.
They fulfilled their consumption needs at other financial institutions.
Understanding this led to a transformation at HNB Finance.
By introducing new products we became a one-stop-shop for our customer’s financial needs.
This is a field which shows great potential, and balanced with our continuing emphasis on enterprise clients, we are now working to integrate this segment with the facilities provided by giants such as HNB so they are able to grow,” states Mr. Prabhath.
“We are already linked with Lankapay, having established SWIFT and SLIP secure and efficient transfers.
As our customers can now do transactions with HNB we have issued more than 250,000 cards in a very short span.
Our next goal is digitalization, it allows our customers a platform to complete all their financial services on one platform.
This is our future,” Mr. Prabhath revealed.
HNB Finance has set its sights on a listing on the Colombo Stock Exchange (CSE) next year following the introduction of new financial services and the expansion of its existing product portfolio to service a wider range of clients.
Established in 2000, HNB Finance Limited is licensed as a registered Finance Company by the Monetary Board of the Central Bank of Sri Lanka.
Maintaining an extensive island-wide presence across 48 branches and 21service Centers with the power of Hatton National Bank’s 650 ATM machines, HNB Finance has over the recent past expanded into new fields of business and now offers Small and Medium Enterprise (SME) Loans in addition to savings, gold loans, fixed deposits facilities and leasing products.