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by 50% in just five years,
elaborating that for example if a customer deposits Rs. 100,000 in a five-year FD, he will get Rs. 150,000 in five years. Following are excerpts of the interview.
Q: Pan Asia Bank has always managed to offer higher interest rates for Fixed Deposits when interest rates are generally low in the market. How do you manage to do this?
A: Pan Asia Bank possesses an impressive array of unique novel lending products that enjoy a high customer demand. We invest our FD funds in these long-term asset products that bring in rich dividends to the bank. Hence we are able to offer higher interest rates for our deposit products including FDs which is in fact a way to pass on the benefits to deposit customers.
Q: What is the latest FD offer from Pan Asia Bank?
A: We are offering a five-year Fixed Deposit that increases the initial deposit by 50% in just five years (at maturity). We also offer a three year Fixed Deposit that increases the initial deposit amount by 25% in just three years (at maturity). For example, if someone deposits Rs. 100,000 in a five-year Fixed Deposit he or she will get Rs. 150,000 in five years (AER 8.44%). If the same initial amount of Rs. 100,000 is invested in a three-year Fixed Deposit he or she can get Rs. 125,000 in three years (7.72%).
This is an easy to understand simple secure investment with high returns which presents an attractive investment opportunity amidst low interest market conditions.
Q: But don’t you think higher returns are often associated with high risk?
A: Not necessarily, higher returns can be achieved with acceptable levels of risk by coming up with innovative products and prudent portfolio management. The BBB rating we have received from Fitch Ratings and BBB+ rating we have received from Lanka Ratings Agency underscore this fact.
Q: What other new products and services has Pan Asia Bank introduced to the market recently?
A: We are a bank that has been offering novel products to the market quite regularly. Recently we came out with a unique 
education loan scheme called ‘Aspire’ to support financing higher studies in Sri Lanka or abroad. This loan scheme is specially designed for parents seeking to finance their children’s higher education and for employed professionals who wish to pursue higher education including professional studies.
Q: With Pan Asia Bank’s strategic expansion drive, the bank was successful in establishing its presence in most parts of the country with 78 branches island-wide. Do you believe you can expand further in year 2015?
A: We have 78 branches now. We continue to be committed to growing our network to capitalise on the macro economic development opportunities available in the country. Hence we expect to open several new branches during this year as well.
Q: In your opinion what are the major milestones accomplished by Pan Asia Bank recently?
A: Oversubscription of our Rs. three billion debenture issue last year was a major milestone. This issue was snapped by both corporate and retail investors which led to the issue being oversubscribed on the opening day itself. This was a true indication of the investor confidence in the bank’s growth potential and sound management.
In addition, the bank offers a unique loan scheme called ‘Sammana’ for government pensioners and retired bankers with an innovative life insurance scheme and a repayment period of up to seven years. This product too has grown exponentially and can be considered a major milestone in the bank’s performance.
