People’s Bank celebrates 53rd Anniversary

Monday, 7 July 2014 00:00 - - {{hitsCtrl.values.hits}}

People’s Bank celebrated its 53rd anniversary on 1 July as the leading bank in Sri Lanka which revolutionised the country’s economic and banking sectors. In an era when the common man was not welcome for banking, People’s Bank opened its doors to all customers by delivering services in all three languages. Under the 1961 Act 29 presented to the cabinet by the then Minister of Trade, Food, Cooperative and Shipping T.B. Illangaratne, which focused in developing rural banking system and the people, the inaugural People’s Bank branch was opened at Duke Street, under the Chairmanship of Vincent Subasinghe. Subsequently branches in Matale, Kandy, Hingurakkgoda, Polonnaruwa, Hambantota, Anuradhapura and Puttalam were added to the network tally.

With approximately 740 branch and service centres located island-wide today, and more than 10,000 employees dedicated to provide the best service along with a reach no other bank in this country has achieved thus far, People’s Bank has become the trusted banking partner to more than 13 million customers across the country; the largest customer base of a commercial banking entity in Sri Lanka. The bank has also enhanced its banking activities and was the first banking institution to commence its official banking work bilingually in Sinhala and Tamil and they even carry the honour of introducing the trilingual cheque book. From its inception, the bank has proved that it is an institution that is close to the country’s people, understanding their ‘pulse’. The bank has always played a vital role in encouraging agriculture, estate sector, commercial, small and medium scale enterprises and foreign income generation by introducing various loan schemes to strengthen the business community. While encouraging the public to save money, in 1963 People’s Bank initiated pawning services as a step to provide further financial support. The credibility of being a government bank coupled with reasonable interest rates won the complete trust of the public making People’s Bank the market leader in the pawning and gold security sector. As the ‘Bank of the aspiring people of Sri Lanka,’ understanding the people’s needs and in turn providing an excellent service in the most caring, responsive and professional manner, has enabled People’s Bank to introduce accounts that suit various needs. ‘Isuru Udana’ for newborns, ‘Sisu Udana’ for students, ‘Yes’ for the youth, ‘Vanitha Wasana’ for ladies, ‘Parinatha’ for senior citizens, ‘Ethera Isura’ for foreign employees, ‘Aswenna’ for agri professionals and the ‘Investment savings account’ are all such examples of those inventions. A better way of life People’s Bank operates on a ground that ensures a better way of life to its customers by launching various loan schemes as well as providing strength and encouragement to develop businesses. Personal loan facility, ‘Jaya Niwasa’ housing loan facility, People’s Professional Loan Facility, People’s Auto Loan and wisdom education loan facility are some of the most sought after financial facilities on offer. Furthermore, In order to uplift the lives of the farmers, fishermen and other SMEs, various loan schemes and special housing loans have been introduced by People’s Bank. A separate department deals with corporate clients and the international banking section maintains a network with 900 agents in 103 countries to provide finance facilities and consultancy to corporate clients involved in international trade. All People’s Bank branches are networked with state-of-the-art technology to provide a more efficient banking experience to the customers. The bank has over 400 ATM machines island-wide, operating around the clock. In addition, a channelled mobile banking service with ATM facility across the island enables the customers to do their banking from anywhere. People’s Bank also offers innovative banking experiences with convenience such as Mobile Banking, People’s Net and Palm Top Banking to its customers. The People’s Mobile Banking Service in partnership with mobile networks such as Dialog, Mobitel and Etisalat enables its customers to do banking and bill payments through their mobile phones, without visiting a branch. Also the People’s Net website offers internet banking facility. As the leading bank in Sri Lanka, People’s Bank has extended its services beyond banking into CSR activities. The bank as well as its staff has contributed immensely with a selfless support for relief activities towards those who were affected by natural disasters such as tsunami, floods and droughts as well as to lend a helping hand to those who were affected by the war. Rebuilding the lives of those who were displaced by the war, People’s Bank has come forward to construct 50 houses, spending Rs. 60 million in the Madu area. This housing project was completed to commemorate the golden jubilee of the People’s Bank. Taking their CSR activities further, People’s Bank in collaboration with People’s Leasing and Finance PLC upgraded the Buttala General Hospital spending more than Rs. 22 million. Additionally, People’s Bank renovated the Madawachchiya Bus Stand and invested Rs. 20 million to build a public shopping mall in Lunugam Wehera. The excellence of People’s Bank has been recognized and awarded many times. The bank was awarded the most coveted ‘Best Brand’ and ‘Best Service Brand of the Year’ awards by the Sri Lanka Institute of Marketing in 2009. Indicating the level of service excellence for many years, People’s Bank has been winning prestigious awards such as the SLIM-Nielsen People’s Award for the Service Brand of the Year and People’s Award for the Best Banking and Finance Service Brand of the Year for eight consecutive years. Fulfilling the expectations of the customers while moving forward as a responsible brand of the Sri Lankans, People’s Bank is honoured to celebrate 53 years of service.