Pan Asia Bank strengthens financial management skills of SME entrepreneurs

Saturday, 9 September 2023 00:00 - - {{hitsCtrl.values.hits}}

Pan Asia Bank Assistant General Manager Nimal Ratnayake addresses the workshop

Pan Asia Bank recently held the latest session in a series of workshops on ‘SMEs and Financial Management’ to enhance financial literacy to better manage small businesses.

Held at Ariyana Reach Hotel in Maharagama, the workshop saw 32 Pan Asia Bank SME customers from the Colombo South region participating and benefitting with financial management skills to boost the financial viability of their businesses.

The workshop was conducted by Sarath Dias-Bandaranayake, a Fellow of the Institute of Bankers, Fellow of the Institute of Training and Development, Founder Fellow of the Institute of Chartered Professional Managers; Certified Life and Business Coach is a Trainer of Entrepreneurs, Banking and Finance and HR Professionals, Essential Skills, Trainers, Coaches; Life and Business Coach; Banking, Finance, Management and a HR Consultant.

Participants benefitted by way of gaining knowledge on preparation of cash flows, bank reconciliation statements and financial literacy.

The workshop also helped customers understand banking in relation to their business and financial security. This included an overview of bank borrowings, working capital, Current Assets and Current Liabilities and Profitability and cash flow. The workshop was successfully concluded amidst overwhelmingly positive feedback from the participants, who felt the newfound knowledge would prove useful in carrying out their future business activities and to maintain business records. The next workshop is scheduled for November 2023.

Assistant General Manager – Branch Credit Nimal Ratnayake said: “Pan Asia Bank is committed to holding these workshops regularly for its SME customer base because of the value they add to the economy. However, many lack the necessary financial expertise to manage the financial aspects of running a business, which is why our workshops are focused on strengthening their financial management skills so that they have a 360-degree view of their financial cash flows and liquidity management which ensures their businesses can thrive in times of adversity.”

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