Rs. 1 b micro leases disbursed by HNB to over 400 agri MSMEs

HNB officer handing over the micro leasing facility to an agricultural entrepreneur in Pottuvil 

Sri Lanka’s leading private sector bank HNB PLC disbursed over Rs. 1 billion to entrepreneurs in the agricultural sector through its recently launched micro leasing facility, offering micro, medium and small enterprises (MSMEs) a myriad of benefits and opportunities. 

Working in line with Central Bank (CBSL) directives to support and strengthen Sri Lanka›s agriculture sector, HNB’s micro leases will be utilised to enhance the capabilities of over 400 agricultural entrepreneurs across the island. 

A collaborative effort by the bank’s leasing and microfinance arms, the facility offers customers a full suite of services, including access to great deals and benefits from HNB’s extensive merchant partner network. 

HNB Deputy General Manager - Retail and SME Banking Sanjay Wijemanne said: “The agriculture sector was one of the hardest hit by the COVID-19 pandemic in terms of revenue generation. Given its immense potential to contribute to a vibrant export economy, it is vital that we increase the sector’s productivity and earning potential through modernisation and mechanisation. We have experienced first-hand the remarkable appetite for these technologies at the grassroots, and we are proud to able to support farmers in their essential contributions towards rejuvenating Sri Lanka’s agricultural sector.” 

The leasing and microfinance arms of the bank collaborated in ensuring HNB’s microfinance officers were fully aware of the facilities and partnerships of the bank in the agricultural sector. 

“Given our strong relationship with the agricultural sector, we understand not only their needs but the ideal time for their needs. Our microfinance officers have always been at the forefront of guiding and helping entrepreneurs in the sector to develop further. We are delighted with the progress they have made in this instance. The collaborative efforts of HNB’s leasing and micro Finance departments of the bank have ensured the success of this product, and we are delighted at how well our customers in the agricultural sector has received it,” HNB Head of Leasing Niluka Amarasinghe said. 

Through its microfinance officers stationed across the country’s grassroots, HNB has facilitated growth in the sector through its Gami Pubuduwa initiative. The bank will lend the same support for its leasing customers by organising curated sessions to enhance value chain development and capacity building skills in collaboration with skills development organisations. Additionally, customers can use the bank’s flexible payment schemes, customised to their repayment capabilities. 

Notably, the bank will onboard all customers using the facility on its digital platforms such as HNB SOLO, MOMO and Appigo, improving the availability of convenient payment solutions in the sector. 

Furthermore, HNB offers a seamless one-day approval process supported by its state-of-the-art backend systems. Customers availing themselves of the facility are entitled to a free life insurance cover of Rs.4.5 million. The insurance is also anchored to discounted premiums from HNB General Insurance.  Leasing customers also received the Prestige Prime credit card free of charge. The first year fee waived off, offering customers access to exclusive discounts on various agricultural products and services.