HNB performs well in dividends issuance business | Sunday Observer

HNB performs well in dividends issuance business

Ruwan Manatunga and Dhananjaya Samaraweera
Ruwan Manatunga and Dhananjaya Samaraweera

HNB PLC has performed well with its fully integrated web-based Payments and Cash Management (PCM) platform over the first quarter of 2018, the bank said in a press release.

Standing as one of the first Sri Lankan banks to have introduced a digitally-enabled PCM solution for local corporates, HNB has secured a strong position in the dividend issuance business, with several of the country’s large and successful public limited companies mandating the bank to support their dividend issuances.

HNB, DGM, Corporate Banking, Ruwan Manatunga said that since launch, the PCM platform has already supported such companies to conveniently digitise the issuing of dividends.

“As we now head into the second quarter of 2018, HNB continues to win a significant number of high profile dividend issuance mandates.

I believe that this success stands as a testament to the quality and reliability of our PCM platform which large corporates continue to choose as their preferred solution for all payments and cash management functions.

“Our goal is to continue to develop and leverage cutting edge technological solutions, seamless end-to-end processing capabilities and the best market support team in the country to ultimately create meaningful market value and unmatched customer service experiences.

Moving forward, we anticipate substantial gains through increase in acceptance of our PCM platform,” Manatunga said.

The Bank provides the ability to local corporates to initiate and process dividend issuance via HNB Online platform, by following company specific financial authorization matrix stipulated for their dividend issuance. Once corporate approvals are completed, dividend warrants are printed at the Bank premises along with the MICR line. HNB also offers support with mailing of warrants to shareholders with the entire solution being offered to local corporates at preferential pricing.