Sri Lanka’s leading private sector bank, Hatton National Bank PLC has once again joined hands with the National Chamber of Exporters of Sri Lanka (NCE) as the exclusive banking partner for the year 2022-2023. This is a monumental year for NCE as it hosts its 30th Export Awards ceremony under the theme, “Recognizing, Inspiring and Strengthening” and HNB is delighted to be a part of their success story.
NCE is a prominent office that offers various services ranging from issuance of specialized certificates, various trade related documentation, conducting training programmes and workshops, including representation of Exporters in discussions and meetings held with relevant Government bodies.
The present economic crisis that has unfolded in Sri Lanka is unprecedented in nature; the depletion of its foreign currency reserves is one of the most crucial factors that needs resolving. Having understood the importance of contributing to the growth of the Export industry early on, Hatton National Bank PLC attempted to create opportunities that would enable the export sector to confidently venture in to the global space and showcase their vast potential. Being an early adopter of this change in direction facilitated HNB to broaden its reach countrywide and grow its market share notably over 2021.
The resilience of export businesses this year alone is outstanding as the export sector continues to showcase its immense potential and this is evident in the growth we have witnessed thus far with YTD exports of the country increasing by USD 815m to a resounding USD 6,514m – a 14% YoY growth!
Sri Lanka has the resources required to move into the global market. Creating a way to showcase Sri Lankan Export Products and Services, including Service Providers to Exporters, is key in creating awareness among prospective buyers and consumers, regarding the range of Products and Services offerings of the Country.
To this end, in addition to the traditional export related initiatives, HNB also offers Sri Lanka’s first digital overseas export market opportunities for B2B customers. Cord360.com is an online marketing platform that provides exporters support in key areas such as finance, logistics, packaging and market access through www.cord360.com. The platform streamlines the process and costs involved in particularly linking and negotiating trade with foreign buyers, benefitting especially small and medium enterprises (SMEs), who face greater challenges in such activities. Our digital products also include ERP solutions at affordable rates with e-commerce and payment gateway solutions for B2C businesses.
These partnerships have been created with one goal in mind, to highlight the resource-rich offerings of Sri Lanka, and promote the country as an Export Hub, driven by Innovative Products and Services that eventually attracts Foreign Direct Investments related to Export oriented manufacturers and service providers.
Trade is a highly skilled and specialized area which requires in-depth technical knowledge and skills to effectively/efficiently deal with global supply chains. HNB’s global connectivity through the 900+ correspondent banking relationships, that include top tier banks in the world, provides us the dynamic to be a true Partner in Progress in all our customers’ international trade requirements.
Notably, a key ingredient in HNB’s advanced capabilities is its team of highly experienced and qualified professionals that drive its International Trade Services department. HNB has the largest pool of Certified Documentary Credit Specialists among banks in Sri Lanka. These highly skilled individuals combine innovative technology with unmatched technical expertise in order to provide simple, user-friendly solutions even for complex transactions, risk mitigation and trade finance, encapsulating the end-to-end process of a trade transaction, leading to greater confidence amongst customers.
HNB’s Centralized International Trade Services Department is located in at Janadhipathi Mawatha, Colombo 01, in close proximity to the Central Bank of Sri Lanka, the Import and Export Control Department, Sri Lanka Customs, Shipping and Logistics providers and other regulatory and statutory authorities. This access provides the utmost in convenience to customers seeking to complete import or export documentation within the shortest possible time-frame.
As a solution provider, HNB aspires to be the preferred bank for the discerning export community that brings valuable foreign exchange to the country. In alignment with Government and Central Bank initiatives to facilitate growth in export industries, HNB as a domestic systemically important bank (D-SIB) has launched many attractive offerings to support businesses that create value, both in terms of providing financial assistance and non-financial guidance and this key strategic partnership is one of many initiatives that HNB is planning to offer to deserving export customers to benefit the country.