HNB enhances facilities to agricultural MSMEs with new leasing product

CBSL Assistant Governor J. P. R. Karunaratne with the first Micro Finance customer Mahinda Abegunawardane of HNB Ambalangoda Customer Centre as (from left) HNB Regional Credit Head - Southern Shalindra Karunarathne, HNB Relationship Officer - Micro Finance Southern Region Chathuranga Welivita, HNB Head of Personal Financial Services Kanchana Karunagama, HNB Deputy General Manager - Retail and SME Banking Sanjay Wijemanne, HNB Executive Director/Chief Operating Officer Dilshan Rodrigo, HNB Head of Micro Finance Vinodh Fernando, Head of Leasing Niluka Amarasinghe and HNB Manager - Micro Finance Southern Region Rohana Yagamuni look on 

In a bid to enhance growth opportunities available for agricultural micro, small and medium enterprises (MSME), Sri Lanka’s most customer-friendly bank HNB PLC, launched the Micro Leasing facility anchored to a myriad of benefits and opportunities for entrepreneurs. 

Working in line with initiatives drawn by the Central Bank (CBSL) to strengthen the sector, HNB will ensure customers who make use of the facility can further enhance their entrepreneurial capabilities. The facility will also provide customers access to an extensive range of deals and benefits from the bank’s wide portfolio of merchant partners. 

“For Sri Lanka to achieve long term sustainable growth, it is vital that we empower the MSME sector, which contributes an estimated 52% to the GDP. As the regulator, we believe this can be done by equipping our entrepreneurs with the necessary capital while simultaneously improving their financial literacy. 

“Therefore, I wish to thank HNB for the initiatives taken over the past few years through the Gami Pubuduwa campaign and for launching this facility, which will provide entrepreneurs with the opportunity to grow their businesses in a sustainable manner,” CBSL Assistant Governor J. P. R. Karunaratne stated.  

Working through its 175 strong microfinance officers stationed across the country’s grassroots, HNB has facilitated growth in the sector through its Gami Pubuduwa initiative. The bank will lend the same support for its leasing customers with curated sessions to enhance skills in value chain development and capacity building in collaboration with skills development organisations. 

Additionally, customers can use the bank’s flexible payment schemes, which will be customised to their repayment capabilities. 

HNB Executive Director/Chief Operating Officer Dilshan Rodrigo, speaking at the event, said: “This is indeed a very proud moment for us as we are unveiling a new product for the agriculture sector. HNB has worked with over 10,000 MSME customers through the Gami Pubuduwa initiative over the past 10 years and we hope that we can expand this supportive network to more customers through this new facility. 

“We are looking forward to supporting and enhancing the capabilities of businesses affected by the COVID-19 pandemic and those created because of it, by facilitating a common platform for our corporate clientele, as well as the medium and small rural customers to establish and foster supply chains for an export-oriented economy. We are delighted to be launching this facility and hope to see our customers make use of this opportunity to grow their businesses during these challenging times.” 

Notably, HNB will on-board all customers using the facility on its digital platforms such as HNB SOLO, MOMO and Appigo, improving the availability of convenient payment solutions in the sector. Furthermore, HNB offers a seamless one-day approval process supported by its state-of-the-art backend systems. Customers availing themselves of the facility are entitled to a free life insurance cover of Rs. 4.5 million. 

The insurance is also anchored to discounted premiums from HNB General Insurance and a free credit card with special discounts and benefits from HNB Leasing.  Customers will also receive a Prestige Prime credit card, with the first year fee waived off, offering customers access to exclusive discounts on a range of agricultural products and services. HNB has also partnered with an extensive range of agricultural service providers to provide customers with access to an exclusive range of discounts and benefits related to agricultural equipment and service providers.  “This product is launched for a segment that we care a lot about, and we believe the sector has the potential to grow in the future. As the private sector bank with the largest leasing portfolio in the country, we are keen to strengthen the MSME sector to transform the national economy to one that is export-oriented,” HNB Deputy General Manager - Retail and SME Banking Sanjay Wijeymanne said.