Proper time management vital to reach targets

‘Women strive harder to reach the top’:

Hiran H.Senewiratne

Kimarli Fernando. Picture by Saliya Rupasinghe`

The education system in the country should prepare students to take challenges and develop leadership qualities to suit the job, said Asia Banking Corporation (PABC) Plc Chief Executive Officer (CEO) and Managing Director (MD) Kimarli Fernando.

She said the purpose of education is to instil confidence and bring out the competitiveness for any profession. Therefore, the education system should be more practical oriented, more than text books learning.

Fernando said having these ingredients in the education system will build confidence and create the right attitude of the person. Having a competitive spirit and the correct attitude will build the character and personality of the person.

Q: As a female CEO/MD of a leading bank in the country, what are the problems that Sri Lankan career women face to go up the corporate ladder?

A: Women have opportunities, but there is a ceiling and some perception issues in the country. We need to teach young girls and boys to share responsibilities without gender discrimination.

When women reach a certain level in the job they do not want to take up further responsibilities owing to family pressure and commitments. This is due to the long hours of work, non flexibility in the workplace and the lack of support from the family itself. Therefore, we have to strive harder than men and to reach the top. To reach those targets, proper time management is necessary.

Q: How can women be empowered financially in Sri Lanka?

A: When it comes to Sri Lanka, there is a lot of room for improvement to empower women financially. But women should take the initiative; this would enable women to stand on their feet.

This could be done by educating women and providing more opportunities for them in the commercial world.

Q: Many business organizations in the country accuse banks and financial institutions of not supporting the local SME sector due to high interest rates on lending and also do not allow companies to grow without their consent due to the collateral issue. What is your view?

A: To start, any bank needs a capital of Rs. 2.5 billion. We also have to comply with the Central Bank’s Basel One and Two rules, which needs banks to keep the capital more than the requirement.

The Banks are owned by shareholders who are also members of the public. They demand the return on investment for their share value to appreciate. Apart from that banks and many financial entities are facing a huge challenge due to the increase of non-performing loans in the country. Since the increase of non-performing loans, banks need to have a buffer to cushion the blow.

The banks also have to invest in new technology and go for expansion and other development as well. Therefore, banks and financial institutions have to be stable to maintain the country’s economy and growth.

Q: PABC being a small and mid level player in the country, how would you compete with big players in the industry?

A: PABC Bank has a lot of potential, which is like an un-cut diamond. I have 21 years’ foreign banking experience and did several changes to the bank when I assumed duties as the CEO/MD.

I recruited a few top officers including the Head of Treasury, Head of Capital Banking and Head of Liabilities with foreign banking experience and exposure.

With our foreign banking experience we improve good governance and processors to international standards.

We also recruited a young dynamic team with a lot of banking experience who are between 40 and 45 years. We reduced the staff to 500 from 547 and high performers were rewarded, recognized and given authority.

We are a 100 percent Sri Lankan bank and conform to all international banking standards.

I benchmark our performances based on leading commercial banks in the country.

Q: What are the future plans of the bank?

A: We have many plans for the bank and we have 33 branches in the country and are hoping to add three to four branches to the network before the end of the year.

We are into corporate banking business and hope to continue to target the SME sector as well. As far as the private/retail banking business area is concerned we cater to the high networth customers in the country.

At one time we were the only bank which issued the smallest credit card to customers in the country, but the credit card business is not our focus area at present.

Q: Today the entire financial sector in the country is facing a credibility issue especially due to Sakvithi and the Golden Key credit Card Company issues. As an upcoming bank in the country how would you build the confidence of your customers?

A: These issues taught us and our customers a lesson to deposit money in Central Bank approved licensed banks and also created an opportunity for customers to manage their deposits in a prudent way. Our Bank is a Central Bank approved licensed bank and has been growing well during the past few years.

Q: What is your advice to national leaders to reform Sri Lanka’s economy to expedite growth?

A: We have to place a lot of emphasis on reconstruction and rehabilitation of the Northern and Eastern Provinces.

The Sri Lankan business community is quite resilient to any circumstances. The most pressing issue in the banking sector is the 61 percent taxes on banks, which really needs to be looked into by the decision makers in the country.

Q: How could the global financial crisis be turned into an opportunity for Sri Lanka?

A: It impacted most countries. However, we have a unique opportunity with the dawn of peace and normalcy in the country. Prudent regulations and proper management of the economy could result in many opportunities from any crisis situation because our inflation level, petroleum prices and cost-of-living have come down during the recent past.

Q: What is your philosophy in life?

A: I am a devout Buddhist and my philosophy is to be the best. If you are, sincere, honest and committed you will be successful in everything.