People’s Bank celebrates 52nd anniversary

Monday, 1 July 2013 00:22 - - {{hitsCtrl.values.hits}}

Established on 1 July 1961, People’s Bank today celebrates its 52nd anniversary 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 Sinhala and Tamil 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 Colombo Fort, under the Chairmanship of Vincent Subasinghe. Subsequently branches in Matale, Kandy, Hingurakkgoda, Polonnaruwa, Ham-bantota, Anuradhapura and Puttalam were added to the network tally.

With approximately 730 branch and service centres located islandwide 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 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 which could be used in English, Sinhala or Tamil. From its inception, the bank has proved that it is an institution that is close to the country’s people, understanding their ‘pulse,’ and has always played a vital role in encouraging agriculture, fisheries, animal husbandry and other such micro finance activities. While encouraging the public to save money, in 1963 People’s Bank initiated pawning services as steps 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 ‘ISA’ savings account are all such examples of those inventions. 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. 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 operating islandwide. Customers can easily do their banking activities and bill payments via facilities such as Mobile banking, People’s Net, People’s Palm Top and internet banking through the People’s Bank website. As the leading bank in Sri Lanka, People’s Bank has extended its services beyond banking into CSR activities. Its selfless support for relief activities towards those who were affected by the tsunami, floods and droughts as well as building 50 houses in Madhu area, spending Rs. 60 millions for those who were displaced due to the war, some of the best examples of the bank’s commitment towards societal welfare. 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 the People’s Leasing and Finance Plc upgraded the Buttala General Hospital spending more than Rs. 22 million. Additionally, People’s Bank renovated the Medawachchiya bus stand and spent Rs. 20 million to build a public shopping mall in Lunugam Wehera. 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 Banking Service Brand of the Year for the seventh consecutive time. Fulfilling the expectations of the customers while moving forward as a responsible brand of the Sri Lankans, People’s Bank is honoured to celebrate 52 years of service.