Pan Asia Bank advises customers to grow savings to navigate difficult times
Times of strife need strong industry leaders to shine a light and show the way and Pan Asia Bank is doing just that by demonstrating its credentials as an agile and far- sighted bank that has drawn up a clear strategy to cement its position in the industry while guiding its customer to select banking products amid rapidly changing market conditions.
One such major change that took place has been the CBSL’s recently applied cap on the maximum interest rate that banks can offer on any deposit, to keep cost of funds at reasonable levels and to eliminate price wars.
Pan Asia Bank ( PABC) Marketing, Cards and Deposit Mobilisation Deputy General M a n a g e r, Nalaka Wijayawardana, explains, “In response to the deposit rate cap, Pan Asia Bank is marketing certain products which infuse greater value for customers keeping the cap in mind. By introducing other value added benefits, the Bank has been able to attract new customers. In addition, our wide customer base is aware of the fact that Pan Asia Bank offers the highest r at e s p o s s i bl e under the current guidelines.
Another positive factor is a cash- back loan for emergencies against fixed deposits at any point in the life cycle of the deposit, and thirdly, as a Central Bank regulated licensed commercial bank in Sri Lanka, we guarantee safety of customers’ deposits. With this approach Pan Asia Bank has covered the three basic benefits that customers expect from their bank: higher returns, accessibility and safety!”