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| Sunday, 13 February 2005 |
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PABC relocates Nugegoda branch PABC Bank relocated its Nugegoda Branch at High Level Road, Nugegoda. Senior Deputy Governor, Central Bank of Sri Lanka W. A. Wijewardena who was the Chief Guest commended the Bank on its current position and its prudent Management for the manner in which they guided the Bank during difficult times. He said "All Banks go through a difficult period, but what was commendable with PABC Bank was that its management realised their position before others and informed the regulatory authorities who was then able to guide them." Pan Asia Bank, relaunched last October, as PABC Bank with a new corporate identity did go through a bad patch, but having developed an effective restructuring process along with re-capitalisation of their equity structure, have now emerged to be in a stable position today. Wijewardena said that BB+(Sri) rating assigned to PABC Bank by Fitch Ratings, categorises the Bank as moderate on its rating and added that it was a good sign as it paved the way for improvement and will make it much easier for them to realise their vision of becoming the most Customer Preferred Commercial Bank in Sri Lanka. Managing Director/CEO/GM of the PABC Bank R. Nadarajah said that the decision to re-locate the branch at a more spacious place was taken with the intention of providing a better and enhanced service to its valued and loyal customers and also to enhance the visibility of the branch. "Substantial growth can be expected by making small changes and the relocation of the Nugegoda branch is one of them," he said. Chairman Abeyratne Bandara said that the customer service is a vital tool in modern banking and banks have to first provide a better and enhanced level of service to their customers, if they intend to survive and make profits. With this strategic move, the PABC Nugegoda Branch offers a complete range of facilities from current accounts to import, export facilities, encashment and issuing of foreign currency/Travellers cheques, "X-press money" remittances, Gedarata Mudal (an innovative home cash delivery) and also NRFC/RFC, Lahiru Plus (minor savings accounts) and SMS banking to its valued customers. |
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