Friday, 18 April 2014 03:48
Standard Chartered was awarded the ‘Best Retail Bank in Sri Lanka’ at a ceremony in Sydney recently at The International Excellence in Retail Financial Services Awards 2014, by The Asian Banker and the International Panel of Advisors.
Standard Chartered successfully underwent all the stringent valuation for the International Excellence in Retail Financial Services program to be adjudged the winner of the accolade.
Standard Chartered Head Retail Clients Sanjay Wijemanne speaking of the award said: “I am delighted to have been able to receive this prestigious award on behalf of the team at Standard Chartered at the award ceremony in Sydney, Australia. The event and awards attract the most distinguished retail bankers in the region, and it is an honour both to Standard Chartered as well as Sri Lanka to be recognised in this way before regional and global counterparts. The Asian Banker Excellence in Retail Financial Services Awards program provides the undisputed benchmark of the performance of the best retail banks in this increasingly fierce marketplace.”
This year, the Asian Banker and the International Panel of Advisors assessed over 400 submissions from retail financial institutions from Asia Pacific, Central Asia, Middle East and Africa. The Excellence in Retail Financial Services Program was instituted in 2001 to recognise the pursuit of excellence amongst retail financial institutions in the region. The program is also a repository of evolving best practices from which players can benchmark their own products and processes over the long term.
Standard Chartered Chief Executive Officer Anirvan Ghosh Dastidar said: “Standard Chartered Sri Lanka can now proudly claim to be part of what has become the most prestigious, comprehensive and anticipated awards program that recognises the pursuit of excellence amongst retail financial institutions available almost anywhere in the world today. The Excellence in Retail Financial Services program is predicated by the belief statement which states that a well-run retail bank is one that demonstrates a long term, sustainable, profitable franchise with the customer as its core proposition, and this perfectly reinforces and reiterates Standard Chartered’s raison d’être.”
The Excellence in Retail Financial Services program recognises as an outstanding player in the retail financial services industry a bank that demonstrates attributes which include outstanding annual performance of the retail banking unit, sustainability as a franchise over a long period of time and across economic cycles, a well-defined franchise in the chosen marketplace, transparency and accountability of business model, clear sales and execution skills at the product level, rigorous risk management capabilities, superior business and operational processes and technology, strong penetration and efficiency of distribution channels, focus on developing human resources to support the bank’s strategy, and ethical banking practices.