Prime Grameen rebranded as HNB Grameen to reinforce leadership position

Tuesday, 28 July 2015 00:08 - - {{hitsCtrl.values.hits}}

Prime Grameen Micro Finance Ltd., which was acquired by the banking giant Hatton National Bank PLC (HNB) with the majority stake, was rebranded as ‘HNB Grameen’ recently. This move will reinforce its leadership position in the micro finance sector under the powerful HNB brand.

The name change will bring in new synergies between HNB Grameen, the flagship micro finance operator which pioneered commercial based micro finance in Sri Lanka, and Hatton National Bank, one of the leading private sector commercial banks in the country which has a rich history of over 125 years. In addition to its synergistic potential, the name change will impact HNB 10-2 Grameen to dominate the financial sector as a force to reckon with.

Commenting on the rebranding, Jonathan Alles, Chairman– HNB Grameen, Managing Director/CEO – HNB stated: “HNB’s expertise in serving the microfinance sector for over two and a half decades coupled with HNB’s strong brand equity will enable HNB Grameen to accelerate growth and broad base the micro finance market. We are confident that HNB Grameen Finance Limited will further strengthen HNB’s commitment as a group in serving the financial services sector in the country.”

HNB Grameen MD/CEO Chaminda Prabhath added: “This will be more than a name change as it presents an opportunity to further strengthen our ongoing commitment towards excellence in micro finance and to expand our products and services with increased focus and reach. We will continue to strive to maintain our growth momentum and retain our leadership position in the micro finance sector in Sri Lanka.”

The new Board of Directors at HNB Grameen comprises a panel of experienced professionals of the likes of Jonathan Alles – Chairman, who is the current Managing Director/CEO of HNB, B. Premalal – Deputy Chairman, who is the Chairman of Prime Lands Group, B.M.D.C. Prabhath – Managing Director/CEO, Crysanthi Thambiah – Senior Director and other Directors are Thimal Perera, Sandamini Perera, Rose Cooray, Lionel Somarathne, Dr. Udan Fernando and Anushka Wijesinghe. The Company Secretary is Shiromi Hulloluwa.

HNB Grameen pioneered commercial micro finance in Sri Lanka, opening pathways for enterprising small scale entrepreneurs to prosper in their business endeavours. The company has 48 branches spread across the island, in addition to 21 service centres and over 1,100 dedicated staff. The company’s micro finance products have uplifted the lives of over 210,000 customers over a period of 15 years.