Banking

Seylan Gold Heart account

Seylan Bank has introduceed a Gold Investment and Trading Account aptly named “Ceylinco Seylan Gold Heart”.

As per its founder Chairman/Managing Director Dr. Lalith Kotelawala’s vision, Seylan Bank has developed this investment product which would add value to its clientele.

This account can be set up by any Sri Lankan over 18 years of age, by opening a Gold Cash Account and a Gold Account in any Seylan Bank Branch.

Thereafter, he/she may invest and trade in Gold. There is no compulsion to retain physical gold. The quantum of gold purchased by an individual less the quantum sold, would reflect as the balance in the account.

Seylan Bank would quote the buying and selling rate on a daily basis and also be the counterparty to buy back the gold in the Gold Account sold by any individual maintaining such accounts.

Apart from Seylan Bank, The Finance PLC, Seylan Merchant Bank PLC, Ceylinco Investment and Realty., Ceylinco Finance PLC, Finance and Guarantee Company Pvt. Ltd., Ceylinco Savings Bank, Ceylinco Leasing Company and Multi Finance Ltd. would act as Agents for the public to buy and sell gold.

The minimum transaction amount for Gold investment and trading would be 5 grams and in multiples of 0.10grams thereafter, based on the funds available in the Gold Cash Account.

The 5,10,20 and 50 gram Bars are of 99.99 fine pure 24 Karat gold and Ten Tola bars are of 99.90 fine pure 24 Karat gold.

Customers may even withdraw physical gold from this account with prior notice given three days ahead for a very nominal fee which would depend on the type and number of Gold Bars withdrawn.

If an individual is inclined to purchase physical gold, gold bars are available in denominations of 5 grams, 10 grams, 20 grams and 50 grams, Ten Tola Bars of 3.746 ounces (116.6 grams) and in multiples of each denomination from the gold outlet situated at Seylan Bank’s First City Office, Colombo 1.

People’s Bank celebrates 47

People’s Bank will celebrate its 47th anniversary on July 1 under the theme of ‘service excellence,’ with a host of activities aimed at enhancing customer satisfaction, and rewarding them for their unswerving loyalty through the years.

People’s Bank has, over more than four decades, cemented its position as a financial institution that understands the diverse financial needs of different segments in the community, serving them through the biggest network of 638 branches and service centers based throughout the island.

People’s Bank has declared the month of July as the ‘anniversary month’ and plans to begin the celebrations on a religious note. Multi-religious ceremonies will be held at its head office and regional offices, aimed at fostering religious harmony and understanding, and to further foster the spirit of unity among its dedicated workforce.

As a Bank that continues to uphold its Corporate Social Responsibility commitment as one of its most important ways of giving back to society, People’s Bank has organised a program whereby it will select needy hospitals or schools for renovation purposes.

The Bank would like to reaffirm its social welfare drive, by addressing the pressing requirements of the health and education sectors.

Additionally, many community service projects will be undertaken by the branch network, with due consideration to the needy and the deserving. The Bank also aims to uplift the living standards of the people. Encouraging the savings habit among all Sri Lankans, People’s Bank will also launch a street promotion program titled ‘Dorin Dorata’, commencing on July 5, with the participation of all staff members of the Bank.

Special anniversary savings certificates to the values of Rs. 500, Rs. 1,000 and Rs. 5,000 have been designed in this regard. Each branch will also take steps to open a ‘47th anniversary Sisu Udana Unit’ in schools, guiding our future generations towards a savings culture.

With 47 years of ‘service excellence,’ People’s Bank provides services to over 10 million customers, uniting the concepts of the best practices of financial management techniques, ultra modern delivery channels, performance-oriented organisational culture, and the best principles of corporate governance.

HSBC takes local businesses beyond borders

With globalisation, HSBC has seen that local businesses recognising vast opportunities to seek international markets. As an interventional bank with a global network, HSBC is well positioned to take care of customer needs in this rapidly changing environment.

The need for change is inevitable for business growth and keeping abreast of current market trends and applying globally recognised best business practices will enable local business to compete aggressively in the international market place.

Keeping this in mind, HSBC has taken the role of an ‘Advisor’ to the corporate banking sector by launching a series of informative business articles titled ‘Best Business Practices’ which aims to create awareness and help local businesses grow beyond traditional banking.

The efforts taken by HSBC in publishing a series of articles in 2006 and 2007, was commended by eminent business personalities from the corporate world.

“This is the first time a bank has taken the initiative to publish business articles of this nature. It is an effective way of communicating market trends and sharing success stories of top Corporates. What we expect from our bankers is to take on an advisory role and HSBC does it quite effectively” a businessman said.

Identifying the key learning’s from the previous series, HSBC has planned to take this initiative a step further this year with the launch of ‘Best Business Practices Series 2008’ in the Daily Mirror - Financial Times.

This series will feature several articles on topics, which range from latest business trends and market information to business opportunities, environmental best practices and maximising market opportunities, taking into consideration the varied needs of corporate clients.

Deputy Chief Executive Officer and Head of Corporate Banking at HSBC Sri Lanka Trevine Fernandopulle said “HSBC continues to be perceptive to the needs and insights of our customers, customers look for opportunities to grow their businesses both regionally and internationally.

Therefore, we learnt that providing an in-depth knowledge on Free Trade Agreements (FTA’s) would certainly open avenues which will help customers take their businesses to regional and international levels”.

Sampath Bank launches ‘Hit Saver’

Sampath Bank scores a big hit with their latest savings product, Sampath Hit Saver, which carries the highest annual interest rate of 12.5 per cent (Annual Effective Rate of 13.24 per cent).

With a start up deposit of Rs. 50,000 Hit Saver account offers unlimited number of withdrawals per month, instant loan facilities up to 90 per cent of the account balance, free ATM/Debit card, free pass book, Internet and telephone banking facilities and accessibility via an islandwide branch network, inclusive of 14 off-site ATMs at prime locations in the western province alone.

A bank spokesperson said the Hit Saver is positioned along with other savings products such as Double S, which provides up to 50 per cent on Bonus Interest every month.

Vardhana Junior Children’s Day in Thalapathpitiya

DFCC Vardhana Bank (DVB), the everyday banking unit of DFCC Bank, initiated an innovative programme to create awareness on the re-launch of Vardhana Junior by having a Vardhana Junior Children’s Day recently.

The special event was organised by five DVB branches, Nawala, Nugegoda, Kottawa, Maharagama and Malabe and is designed to promote the re-launch of Vardhana Junior savings account which took place last month.

The Vardhana Junior Children’s Day was a fun filled day for kids with many events, games and surprises.

Vardhana Junior Children’s Day, while providing a fun day for children created awareness among parents and children on saving responsibly through a smart saving campaign like Vardhana Junior. This initiative was launched within the areas of the aforementioned five branches organising the event.