Pan Asia Bank empowers SMEs with vital financial management skills for economic recovery

Pan Asia Bank southern region staff and area managers with participants at the workshop

Synonymous with Small and Medium Enterprises (SMEs) banking, Pan Asia Bank remains committed to empowering SMEs to reach their full potential by helping them to overcome the challenges emanating from the economic crisis. Demonstrating its commitment, the bank held a workshop recently for its SME customers on the topic of ‘Financial Management’ to enhance financial literacy through group based assignments. 

Up to 40 of Pan Asia Bank’s SME clients from Tangalle, Embilipitiya and Ambalanthota in the southern region attended the timely and useful workshop. The program was conducted by experienced banker and coach Sarath Dias Bandaranaike. 

The workshop focused on factors such as inherent strengths and weaknesses of the SME entrepreneurs and their importance for the economy and how to develop the right character traits to become a successful entrepreneur. Apart from these softer aspects, the workshop put the participants through understanding of banking, working capital, current assets and current liabilities, profitability and cash flow, preparing a bank reconciliation statement, challenges of using cheques, and provided practical exposure to assessing the working capital gap and understanding funding requirements. The workshop also advised participants about the risks of improper use of credit; and this was duly supported by the regional management of the Southern Region of Pan Asia Bank. 

Assistant General Manager Branch Credit Nimal Rathnayake commented, “Pan Asia Bank often initiates valuable and practical workshops for its valued SME customer base, thereby strengthening the SME sector. SMEs are the backbone of the economy and our presence in all regions of the country ensures that Pan Asia Bank plays a pivotal role in partnering the SME sector to success.”

The participants expressed their gratitude to the bank for equipping them with better financial management skills which they can now harness in improving the financial needs of their businesses. These efforts show the continuous commitment of the Truly Sri Lankan bank, Pan Asia Bank, towards the upliftment of the business community and the revival of the Sri Lankan economy.