NTB ties up with Colombo Money Transfer

Friday, 9 March 2012 00:01 - - {{hitsCtrl.values.hits}}

To promote remittances to Non Resident Sri Lankans in Australia

Nations Trust Bank (NTB) PLC, Sri Lanka’s fastest growing bank, in operation for over a decade now, has signed up with a number of remittance partners worldwide to offer a fast and convenient remittance service across its expanding branch network.

The bank recently entered into a partnership with Colombo Money Transfer Services Pvt Ltd and an agreement to this effect was signed recently at the bank’s head office in Colombo.

Colombo Money Transfer Services Pvt Ltd was founded in 2010 to provide money transfer services to the Sri Lankan community in Australia through their retail shops in Clayton and Dandenong in Melbourne.

They have obtained the remittance license (AUSTRAC) from the Australian Government with a view to enter into the remittance business mainly focusing on the Sri Lankan market. The company has also been registered with the Australian Securities and Investments Commission in Australia.

The tie-up will enable Sri Lankans living in Australia to remit money to Rupee and foreign currency accounts at Nations Trust Bank or rupee accounts at another bank. Through this service funds could also be collected over the counter at any of one of the 48 Nations Trust Bank branches that are open 365 days offering extended banking hours.

Commenting on the partnership NTB Director/CEO Saliya Rajakaruna said, “Australia is a nation that has attracted thousands of Sri Lankans through migration. They are now contributing significantly to the Australian economy. This partnership with such a firm owned and managed by native Sri Lankans will facilitate a convenient and a quick remittance services through the Nations Trust Bank network. We look forward to a substantial partnership with Colombo Money Transfer Pvt Ltd that will increase remittances to Sri Lanka from Australia, a new source for NTB and a growing one for Sri Lanka.”

Echoing Rajakaruna’s comments Director of Colombo Money Transfer Pty Ltd; Padmini Gunasekara said, “We consider this partnership key to promoting remittances to Sri Lanka and look forward towards offering a fast, affordable and secure money transfer service from Australia.

Nation Trust Bank’s reputation as a reliable and customer-friendly bank along with a rapidly expanding branch network forms the perfect alliance for us.”

NTB is one of the fastest growing banks in Sri Lanka today. Its’ market positioning of being the benchmark of convenience is now ably supported by a host of financial products and services to a wide customer segment.

The bank now has 48 branches, seven personal banking centres and is the sole issuers and acquirer for American Express® cards in Sri Lanka.