People’s Bank wins the prestigious Most Responsive Bank against Covid-19
The Asian Development Bank (ADB) has recognised People’s Bank by awarding it the “Most Responsive Bank against Covid-19” at the prestigious ADB Trade and Supply Finance Program Awards 2021 (TSCFP Awards 2021).
The TSCFP Awards recognises leading partner banks of ADB and the fact that the aforementioned award was one of the key awards of this ceremony chosen from hundreds of entries submitted by of leading banks in Asia, highlights the significance this accolade. The award was received subsequent to a rigorous independent evaluation which takes in to account multiple factors such as the positive impact the particular transaction had on the country, how it enabled the client to improve their business and the manner in which TSCFP contributed to the success of the transaction.
TSCFP provides guarantees and loans to banks to support international trade. Backed by ADB’s AAA credit rating, the programme works with over 200 partner banks in Asia to provide companies with the financial support they need to engage in import and export activities. Since 2009, ADB’s TFP has supported more than 12,000 small and medium sized businesses across developing Asia in sectors ranging from commodities and capital goods to medical supplies and consumer goods.
People’s Bank, which has the largest physical and digital banking footprint across the country, kept trade routes to Sri Lanka open by supporting its customers to transact with counterparties across the globe despite many a challenge posed by Covid 19 crisis.
The pivotal service it renders to the nation was highlighted yet again through this recognition as this particular award was for a transaction for the importation of critical medicines and medical equipment during the height of the pandemic.