HNB’s leadership forays into dividends issuance business

HNB PLC has announced stellar performances for its fully integrated web-based Payments and Cash Management (PCM) platform over the first quarter of 2018. 

Standing as the first Sri Lankan bank to have introduced a digitally-enabled PCM solution for local corporates, HNB has quickly secured a leadership position in the dividend issuance business, with several of the country’s largest and most successful public limited companies mandating the bank to support in their dividend issuances. 

Commenting on the success of the bank’s innovative PCM platform, HNB DGM – Corporate Banking Ruwan Manatunga noted that since launch, the PCM platform has already supported such companies to conveniently digitise the issuing of dividends. 

“As we now head into the second quarter of 2018, HNB continues to win a significant number of high profile dividend issuance mandates. I believe that this success stands as a testament to the quality and reliability of our PCM platform which large corporates continue to choose as their preferred solution for all payments and cash management functions. “Above all, our goal is to continue to develop and leverage cutting-edge technological solutions, seamless end-to-end processing capabilities and the best market support team in the country to ultimately create meaningful market value and unmatched customer service experiences. Moving forward, we anticipate substantial gains through increase in acceptance of our PCM platform,” Manatunga noted. 

The bank provides the capability to local corporates to initiate and process dividend issuance via HNB Online platform, by following company specific financial authorisation matrix stipulated for their dividend issuance. Once corporate approvals are completed, dividend warrants are printed at the Bank premises along with the MICR line. Furthermore, HNB also offers support with mailing of warrants to shareholders with the entire solution being offered to local corporates at preferential pricing. 

HNB’s cash management solutions offering covers corporates, ranging from multinationals, large local conglomerates, mid-market enterprises, financial institution groups and non-banking financial institutions. 

During 1Q 2018, notable large corporate names that HNB has supported with their dividend issuance include amongst others Hayleys Group Companies, Aitken Spence Hotels Ltd., The Lighthouse Hotel PLC, The Nuwara Eliya Hotels Company PLC (Grand Hotel Nuwara Eliya), Asiri Surgical Hospital PLC, Dilmah Ceylon Tea Company PLC and Malwatte Valley Plantations PLC, LB Finance PLC and HNB Assurance.

Maintaining an island-wide presence across 251 customer centres, HNB’s also offers some of Sri Lanka’s most innovative internet and mobile banking services in the country that are designed to usher in a new technology-enabled banking paradigm. 

The bank continues to receive local and global recognition for its Payments and Cash Management business and was recently awarded the best bank by Asiamoney for Cash Management.