Pan Asia Bank achieves a milestone for its Treasury expertise
Pan Asia Bank was recently bestowed with the prestigious ‘Best Bank for Treasury Activities Sri Lanka 2021-Treasury’ award at the Global Banking and Finance Awards 2021.
This accolade is a source of pride for Pan Asia Bank as it has won this award for the first time in its history. This win also marks a moment of pride for Sri Lanka’s entire banking industry as Pan Asia Bank is the first local bank to be recognised and rewarded for its superior treasury management skills, and was part of the ‘Treasury & Cash Management Banking’ category of the highly reputed Global Banking & Finance Awards.
Commenting on winning the notable award, Deputy General Manager – Treasury, Richie Dias said, “Pan Asia Bank delivered a robust financial performance in the 2020 financial year amidst the economic disruption caused by the global pandemic. The Bank’s Treasury operations played a key role in sustaining key parameters to drive growth through the year. We believe our Treasury operations have been lauded because of the ability to harness opportunities where others see none, exploring non-traditional modes of income and lowering cost of funds through raising foreign funding lines. Over the last few years, the Treasury function has leveraged itself into niche, profitable and homogeneous market segments which have proved to be lucrative even in depressed market conditions. We are pleased and proud to receive this award as the first and The Truly Sri Lankan Bank to achieve this feat. ”
Pan Asia Bank’s Treasury team currently manages over USD 100 million in funding lines while negotiating more funding lines which are expected to materialise in a short time. The department has ushered in USD125 million worth of investments in fixed deposits and government securities, namely treasury bills and bonds.
Dias added, “Encouraged by this award, we will continue to drive our Treasury activities, while looking for opportunities. We have the right skill sets in our team to respond to the rapid pace of technological change and we will remain focused on our strengths during the current challenging times while taking a holistic view in order to align with the Bank’s overall business strategies.”
The award is a testament to the hard work put in by Pan Asia Bank which has resulted in a laser-sharp focus on driving business to the next level.