Pan Asia Bank, has been recognised again as the 'Fastest Growing Commercial Bank in Sri Lanka 2015 by Global Banking and Finance Review for the second consecutive year.
London based Global Banking and Finance Review annually recognizes outstanding achievements in the financial services industry.
In addition, Pan Asia Bank's innovative leasing product "Budget Leasing" which enables customers to reach for a vehicle of higher value while paying an affordable rental, was awarded the 'Most Innovative Banking Product in Sri Lanka-2015.
Pan Asia Bank Director and CEO Dimantha Seneviratne said the bank doubled its asset portfolio, branch network and staff strength while tripling the gross income.
"Growth achieved in 2015 was significant especially in loans and receivables which had more than 30% growth (up to Q3) which was well above the industry average recorded for the same period".
"Another noteworthy achievement was our ability to contain NPLs while maintaining an impressive growth momentum. Apart from the advance growth, our balance sheet grew by over 29% crossing Rs 100 billion mark. Financial performance also improved recording over 180% growth in Net Profit After Tax up to Q3 2015; hence we are now on a strong footing to continue our robust growth momentum," Seneviratne said.
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