Business Banking

Standard Chartered launches electronic treasury and foreign exchange services

On line treasury is Standard Chartered Bank’s comprehensive proprietary Request for Quote foreign exchange service which is integrated into their industry leading Straight2Bank platform.

The online FX service delivers fast automated prices from Standard Chartered Bank straight to any desktop. It leverages the Bank’s comprehensive coverage of the global FX markets supporting Swap, Forward and Spot pricing in over 100 currency pairs, twenty four hours a day.

The on-line treasury eFX service provides a direct link to the Bank’s trading floors delivering fast, competitive, and consistent pricing.

The Bank’s presence as a major participant in International Foreign Exchange markets gives it the ability to deliver superior FX solutions to its customers.

It leads the market in the Asian, African and Middle Eastern currencies while offering extremely competitive services in all major currencies with specialized onshore and offshore traders providing pricing in many illiquid and restricted currencies.

Online Treasury offers a customer instant access to liquidity to efficiently achieve FX management objectives.

“We offer market transparency and real time prices to our customers” CEO, Standard Chartered Bank, Sri Lanka Clive Haswell said. “He will have the ability to transact all ticket sizes including exact amount to the last decimal unit” he added.

Integration with the comprehensive range of Straight2Bank products and services across Cash, trade and Securities Services enables a single point of access for the customer’s transaction, hedging, and information needs.

“Standard Chartered Bank believes in leading the way by example. We are strongly committed and responsible towards developing our regional markets.

This is not the first time Standard Chartered has risen to the challenges in the market and I’m confident that there are many more to come” Head of Financial Markets, Sri Lanka Rukshan Dias said.

“With the launch of our on-line treasury eFX service via our award winning proprietary electronic platform, Straight2Bank, clients now have a single point of access linking them to real time information from the trading floor while accessing Straight2Bank’s comprehensive range of products and services.

Focusing on client needs, we continue to enhance our eCommerce capabilities and strengthen our market leadership in Asia, Africa and Middle East markets and currencies,” Global Head of eCommerce and Retail Products Group, Global Markets, Standard Chartered Bank Tom Roche said.

Standard Chartered Bank offers highly competitive pricing in G10 currencies. In the emerging market currencies, it is the first to trade a broad range of less liquid African currencies ranging from Kenyan Shilling to Tunisian Dinar and Namibian Dollar. It is also the first bank to auto quote Middle Eastern currencies around the clock.

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HNB donates library to school in Tissamaharama

Hatton National Bank PLC, embarked on a project to donate libraries for some most deserving schools in remote areas, considered the venture more than just another CSR initiative.

The completion of the ‘Nana Pubuduwa’ project has benefited over 50,000 children living in some of the most rural areas of Sri Lanka being given the opportunity to derive the simple pleasure of exploring the world out of books.

Hatton National Bank as Sri Lanka’s largest private commercial bank, invests in highly ambitious and wide ranging CSR programmes, ranging from projects to aid the differently-abled, rebuilding fishing villages and opening of a Counselling Centre at Maharagama Cancer Hospital etc.

The school libraries programme takes HNB’s CSR initiatives to a new dimension.

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Commercial Bank rewards Year Five scholarship winners

Three hundred and fifty three talented students holding Commercial Bank ‘Arunalu Minors’ Accounts have been rewarded with cash prizes for achieving the first, second and third best results in their schools at the Year Five scholarship examination 2007 by the country’s benchmark private bank.

The Bank paid Rs. 10,000 to students placed first, Rs 7,500 to the second and Rs 5,000 to students placed third in each school. The total value of these cash awards made in respect of the 2007 Year 5 scholarship examination was over Rs. 3 million, the Bank officials said.

In addition to these cash rewards, four of the 353 students, who obtained the highest marks in their Districts at this examination, were able to double their account balances, up to a maximum of Rs. 50,000, under a new feature introduced to the ‘Arunalu’ Scheme in 2007.

“The ‘Arunalu’ Children’s Savings Account was launched in 1998 by Commercial Bank with the objective of promoting academic excellence from a young age while encouraging the savings habit.

We have rewarded more than 870 students who have performed well in Year 5 scholarships, to date since 2001 when the Prize Scheme was introduced,” said Commercial Bank’s Assistant General Manager Richard Rodrigo.

“Without resorting to Lottery Schemes which reward only those few lucky ones selected, we have been gifting each and every Arunalu Account holder who is placed within first three in each school,” he added.

Arunalu accounts can be opened at any of Commercial Bank’s branches or supermarket counters with a minimum deposit of Rs. 100. A minimum account balance of Rs. 5,000 should be maintained at the time of the examination to be eligible for a prize.

Established in 1969, the Commercial Bank of Ceylon is the country’s benchmark private sector bank and operates a computer-linked network of 166 branches, and over 300 ATMs.

The Bank also operates nine fully-fledged branches in Bangladesh. For a record 10th year running, the Bank has been adjudged Sri Lanka’s ‘Best Bank’ by one of the world’s most respected financial publications, Global Finance (USA).

The Bank has also been rated the ‘Bank of the Year’ in Sri Lanka by The Banker, a top-notch global banking magazine for six years and in July, 2007, was named the ‘Best Bank’ in Sri Lanka by the prestigious international financial magazine ‘Euromoney.’

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SCB named Global Best Private Bank

The Standard Chartered Private Bank has been named the “Global Best Private Bank” by Euromoney. This is a first for Standard Chartered. It is a strong endorsement of the private banking franchise and its emphasis on first class service delivery to the high net worth segment.

In awarding the accolade to The Standard Chartered Private Bank for its performance in 2007-2008, Euromoney cited risk management, a focus on growth markets, achievements in performance, growth in client base and a commitment to client service and advisory as success factors. These factors were underpinned by the speed of its expansion and talent strategy.

“We are excited with this win, and we’re excited by the future for private banking at Standard Chartered,” Global Head of The Standard Chartered Private Bank, Peter Flavel said.

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Lankaputhra Development Bank goes to Wennappuwa

The sixth branch of the Lankaputhra Development Bank was recently open at Wennappuwa by Minister of State Plantation Management and Development, Milroy Fernando. This branch, while contributing to the stature of Wayamba, provides a number of facilities to customers.

The Management offered valuable souvenirs to all customers who opened accounts during the first two weeks. The number of accounts opened during the first day itself far exceeded the projections of the management.

It is about two years since the fully state-owned Lankaputhra Development Bank opened for business with the objective of harnessing the small and medium scale entrepreneurs towards national development and providing them with all the required facilities.

The Bank currently implemented several projects to develop the small and medium scale entrepreneurs sector. Among such major projects are agricultural renaissance, Mahaweli Loan and the new comprehensive loan schemes. The Bank also has a number of savings schemes, which offer attractive rates of interest.

Branches have already been opened and functioning in Colombo, Hambantota, Kegalle, Polonnaruwa and Kandy. The Bank has drawn up plans to open branches in the Uva and the Eastern provinces before the end of the year.

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People’s Bank blood donation programme

State banking giant People’s Bank celebrated its 47th anniversary on recently under the theme of service excellence. As part of its anniversary activities, a blood donation programme was organised at the Staff Training College of the Bank, by the Welfare Department and the Sports Club of the Bank.

The corporate management and the staff of People’s Bank participated in this drive with utmost commitment, with the awareness of the greater cause being served. Chief Executive Officer/General Manager, M. Wickramasinghe, Chairman W. Karunajeewa, and DGM - Human Resources of People’s Bank H.S. Dharmasiri speaking to an employee donating blood.