Expat Chit Chat

Lanka more open and friendly to live in

Ruwanthi Abeyakoon

Standard Chartered PLC, listed on both the London Stock Exchange and the Hong Kong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered group has operated for over 150 years in some of the world’s most dynamic markets, leading the way in Asia, Africa and the Middle East.

Its income and the number of employees have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions. Standard Chartered is one of the oldest Bank’s in Sri Lanka having commenced business in the country as an agent office in 1858 and as a full branch in 1892.

Today it is one of Sri Lanka’s leading international banks reputed for leading the way in introducing innovative products and services in both the Wholesale banking and Consumer banking arena.

Its CEO, Clive Haswell is dedicated to continuously improving the way the Bank works and making sure that Standard Chartered Bank leads the way in taking the local banking sector to new heights.

Q: How do you view the bank’s operations in Sri Lanka?

Standard Chartered remains one of the leading international banks in Sri Lanka focused on corporate, institutional and consumer banking and treasury services. We have built up a team of cash and trade product specialists to provide our customers with a customised solutions and packages to cater to their ever-changing needs.

Our products are supported by streamlined operations with Electronic Delivery system in place to ensure that all transactions are handled speedily and efficiently. Dedicated Customer Service Centers are set up to resolve customer enquiries providing them with effective solutions.

Standard Chartered Bank provides two types of services. They are wholesale banking and consumer banking.

Wholesale banking is committed to present new innovative products, such as assisting larger Corporates in hedging their risks. Risks can occur due to the fluctuation of commodity prices. The products of the Standard Chartered Bank mitigate the above risks.

Customers can enjoy state-of-art technology through our Phone Banking services available for the convenience of both Corporate and Personal customers.

Q: How do you reach the Small and Medium Entrepreneurs (SME) of the country?

SME sector is the most vibrant sector and we provide them the facility to minimise their risks. We hope to build stronger relationships with the corporates and the customers.

Our aim is to help their business reach its fullest potential. We share their vision for growth and support it with customised product packages, responsive services and access to expert advice.

Our SME Banking team is dedicated to develop their business. Our international network and trade expertise spanning Asia, Africa and the Middle East are also an advantage for the SMEs planning to expand business operations.

Q: How do you review the oil hedge with CPC?

I am very proud that Standard Chartered Bank has led the way in energy derivatives by structuring and completing the country’s first oil hedge with the Ceylon Petroleum Corporation (CPC) in February 2007.

We are committed to continuing to provide tailor made solutions to meet the requirements of our client, CPC. Since the first deal, SCB has provided solutions for Dubai crude, refined products and refining margins. All these structures have been at zero cost to CPC.

SCB is delighted to continue providing solutions on commodities, and to be associated with CPC in their hedging strategies.

As a leading international bank with a long heritage and presence in Sri Lanka, we are committed to working with regulators and industry leaders to put Sri Lanka on par with other big regional financial markets and to play a role in contributing to the development of the economy.

As the country embarks on a growth path, it is important that products and industry expertise is available to minimise risk, while encouraging growth. This is where we bring our regional expertise and footprint for the benefit of the country as a whole.

Q: What is your experience with the local staff?

SCB focuses on hiring the ‘right’ talent - a blend of attitude, knowledge and skill. Our first resource is our own staff - we give internal candidates the opportunity to apply for vacancies before we source any external candidates.

We also put a lot of effort into identifying talent, development opportunities and training for our employees so that they can be mobile and be qualified for jobs when they arise.

Finding good talent is always a challenge - luckily, for us, we have very low attrition rates; therefore, most of our vacancies arise out of growth in a particular business area or when people transfer to overseas locations. Many of the external candidates hired are through referrals by employees - so, our own employees are our best headhunters!

Q:How do you feel comparing Sri Lanka with other countries you have worked in?

Sri Lanka has a very unique culture. Before coming to Sri Lanka I worked in China, so it’s a very different experience. China is developing very fast and its economy is expanding very quickly.

Infrastructure is also developing fast but it’s difficult to know what’s happening behind the scenes. In Sri Lanka however I find that everything is a lot more open and it is a friendly place to live, with some very hospitable people and traditions.

Q: What are the issues Lankan banking industry should concentrate on to reach greater heights?

There are critical things the industry should concentrate on. Banks should understand their customers and the customers challenges more. Lending policies should be revised. Our Credit Bureau should continue to develop further. Banking has to become more sophisticated.

It is important to make sure that our banking products keep developing. Sri Lanka has a good engagement level between it’s bank and the regulators and the Central Bank is bringing reforms and changes into the market which will help the banking industry to improve.

Q: Can you recall an unforgettable incident you faced in Sri Lanka?

I was visiting the Yala National Park for the first time and I insisted on driving my family in our own jeep. We were hoping to see some wild animals and didn’t even think we would be able to see leopards especially on our first visit but we saw two leopards! I was very impressed. It was the first time I saw leopards in the wild.

Q: Where would you like to travel?

I really like to go scuba diving in Trincomalee. I have gone surfing in Arugambay with my children, in fact I have been to almost all the sites down-South. I have not gone to Polonnaruwa and Anuradhapura. I hope to go there in the future. I would also like to visit Jaffna someday...soon hopefully.