Standard Chartered Bank goes for SME Banking
Standard Chartered Bank introduced SME banking to Sri Lanka last
It offers facilities and tailor made solutions that are commonly
accessible by large corporate and (MNCs), to the Sri Lankan SME sector
covering four the areas of ; working capital management, business
protection, yield enhancement and business expansion.
General Manager for SME banking and Consumer banking market sales Sri
Lanka, Chaya Jayawardena said, “The unique features of this service
includes online integrated banking system which facilitates
entrepreneurs anytime, anywhere plus the expertise advisory services
offered in cash management, forex transactions and lending which are
unparallel to the competitive offerings”. She said that the Bank goes
beyond mere banking and offer customers a dedicated trade counter,
dedicated relationship manager, dedicated specialist and personalised
services under a package that is simple, convenient and cost effective.
The Global Head of Sales Management and Customer offerings for SME
Banking, Christopher Dalo said in the global atmosphere 95 percent of
enterprises are SMEs which generate two third employment and 30-60
percent to the GDP.
He said that SMEs are critical for an economy and are in a phase of
rapid development amounting to an annual growth of 10-12 percent.
Easy access to finance, enterprise recognition, and simplification
are among the top priority needs of today’s SMEs he said.
According to Dalo, Standard Chartered has been in SME business for
around 10 years and is well-equipped with wide exposure and experience.
General Manager- SME Banking India and S.A., Rajeev Chalisgaonkar
said “We are the largest SME foreign bank in India, Bangladesh and also
operates in Nepal and Pakistan and Sri Lanka.
Catering to the emerging trends of the SME sector with increased
levels of sophistication in SME business, increased access to
Head of Consumer Bank,Sanjay Wijemanna, said, “Initially we will
execute the service through our 10 branches located in the Western
province with plans to extend the facility to other areas in the
future”.He also said positive economic and social conditions prevailing
in Sri Lanka will boost the SME sector further that will generate more
business opportunities for them.