In another major milestone for the domestic banking industry, HNB PLC was presented with the award for Best Sub-Custodian Bank in Sri Lanka at the recently concluded Global Finance Awards 2020.
The award marked the second consecutive year in which the bank was declared country winners in a category which prior to 2018 had been dominated by multinational banks.
“As one of Sri Lanka’s largest and most trusted financial institutions, HNB is honoured to have received such a prestigious international accolade; especially given that our operations were first launched only four years prior.
“HNB’s emergence as Sri Lanka’s leading provider in sub-custodian banking for the second year running stands as a testament to our ability to deliver cost-effective, rapid, and reliable service that takes full competitive advantage of our local expertise, partnerships and knowledge,” HNB Head of Custody and Trustee Services, Tyrone Hannan said.
In presenting the country award to HNB, Global Finance’s editorial board considered market research, input from expert sources and entry information from among Sri Lanka’s most respected banks in order to select the institutions that reliably provide the best services.
“As the first home-grown private sector commercial bank to engage in Custodian banking services in Sri Lanka, HNB ability to capture leadership in this space has been driven by the strength of our global and local relationships, as well as our significant and continuous investments in technologies that optimised efficiency and service capabilities,” HNB Managing Director/CEO, Jonathan Alles stated.
“The success we have achieved in this regard is a testament to outstanding efforts and ability of our team and their ability to harmonise relationships with extensive local knowledge and cutting edge technological capabilities in order to deliver unparalleled service,”
Since commencing operations in June 2016, HNB rapidly expanded its capabilities in order to provide custody, trustee and escrow services in addition to fund accounting, and margin trading products for a variety of customers including a total of 22 Unit Trust funds. Founded in 1987, Global Finance has a circulation of 50,000 and readers in 187 countries.
The Bank was judged ‘Best Managed Bank in Sri Lanka by the prestigious Asian Banker Magazine while the Bank’s Managing Director/CEO, Jonathan Alles was conferred with the Asian Banker’ CEO Leadership Achievement’ award.
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