Pan Asia Bank sets up INR account in partnership with Standard Chartered Bank, India

From left: Pan Asia Bank Deputy General Manager Treasury Richie Dias and Senior Manager Trade Operations and Financial Institutions Indika Liyanage 

Pan Asia Banking Corporation PLC, a leading commercial banking institution in Sri Lanka, has taken a significant step towards enhancing trade transactions between Sri Lanka and India, and proudly announces the opening of an INR Nostro Currency Account with SCB India, a prominent player in the Indian banking sector.

By establishing the INR Nostro Account, Pan Asia Bank aims to streamline and expedite trade settlements benefiting businesses engaged in cross-border trade.

Pan Asia Bank Deputy General Manager Treasury Richie Dias said: “This initiative is a testament to our commitment to facilitate our customers with a comprehensive suite of trade finance solutions that cater to their needs. We believe this partnership will enable businesses to optimise their trade opportunities to promote greater financial inclusion across borders, backed by our professional team.”

The newly-formed partnership with Standard Chartered Bank – India is expected to boost Pan Asia Bank’s ability to facilitate smooth INR transactions, offer competitive exchange rates and enable timely remittances for both corporate clients and individual customers. By leveraging Standard Chartered Bank India’s extensive network and expertise in the local market Pan Asia Bank aims to enhance its service offering and deliver exceptional value to its diverse clientele. Pan Asia Bank’s Senior Manager Trade Operations/Financial Institutions Indika Liyanage said: “The opening of INR Nostro Account with SCB India is a significant achievement for us. India is a thriving economic powerhouse, and we are committed to providing our customers with unparalleled banking solutions that align with their diverse financial needs.”

The establishment of the INR account showcases the Bank’s commitment to staying at the forefront of the rapidly evolving global banking landscape. With this strategic move, Pan Asia Bank further solidifies its position as a trusted financial partner and demonstrates its dedication to providing innovative and customer-centric solutions across international borders.