Hatton National Bank (HNB) PLC is seeking to set a new benchmark in terms of customer convenience in the country’s high net worth domain through its ‘Priority Circle’ plan.
HNB’s Head of Private Banking, S. Nandakumar, stated the bank moved beyond the standard offerings like free access to airport lounges and similar facilities, to offer all that plus personalized advisory services, the likes of which have never before been experienced in this country.
“HNB’s Priority Circle adds tangible and significant value to customers, especially the availability and easy access to advisory services on a range of topics, over and above the usual privileges enjoyed by high net worth customers,” he said.
“HNB has within our group the expertise on investment and wealth management products and services to insurance through HNB Assurance and Acuity Partners and we have developed a network of strategic partners for legal, travel, real estate and others, based on Client needs to offer seamless services in these areas.”
He said that Priority Circle facilitates access to Wealth and Legal Advisory, Insurance Services and even Travel Concierge services plus the comfort of using one of our ‘Priority Circle Centres’, located in select branches across the country.
A. The benefits to which HNB Priority Circle members are entitled to extend beyond our Priority Circle Centres. These customers get preferential services at all of our 250 HNB branches around the country and will be served by the Branch Manager of the Branch they choose to visit even if there is no Priority Circle centre in that location.
Q: HNB has placed significant emphasis on advisory services. Can you explain the rationale for this?
He said that the proposition for Priority Circle was arrived at after in-depth research and analysis of a range of factors. “We looked at customer insights and probed the requirements and expectations of the targeted customer segment. It took us about nine months to work on this and come up with what we believe is an unmatchable proposition.”
Speaking further he said the past few years have seen an increase in incomes in the country as well as the aspirations of the people. “We are witnessing the emergence of increasingly discerning customers who have lived or travelled abroad and hence have high expectations and who also face significant time constraints.”
“In this scenario Private Banking in general and Priority Circle in particular has significant growth potential,” he added.
To become a HNB Priority Circle Member, he said customers must maintain deposits of Rs. 7.5 million in Rupees or Foreign Currency equivalent in a Savings Account or a Fixed Deposit. A customer with a combined portfolio will also be eligible.
In addition, a customer who derives a monthly income of Rs.300,000 which is credited to an account with HNB, will also become eligible for this proposition.