HNB recently announced the launch of its Custody and Trustee services business, another first amongst the local private commercial banks in the country. The setting up of the Custody and Trustee business further strengthens HNB’s unparalleled product depth and service offering and is a testament of HNB’s commitment to continue providing world class banking solutions to its customers. This unit will be headed by Tyrone Hannan, who brings with him a wealth of experience and track record of structuring solutions to expand the custody and trustee business in Sri Lanka.
Ruwan Manatunga, Deputy General Manager, Corporate Banking, commenting on the setting up of the Bank’s Custody and Trustee business said that HNB has always been in the forefront in developing new relationships with an eye on the future. He was of the view that Sri Lanka is poised to develop further in financial services and that HNB is well positioned to be a major player in the capital market. With the expected growth in the capital market, HNB as the first private commercial bank to enter the Custody and Trustee space is fully geared to support both local and international players, demanding exceptional services for their investments.
“The anticipated development in the Country’s capital market is likely to increase the demand for custodian and trustee services. HNB aims to provide a “one stop shop” for its customers to enjoy traditional banking services coupled with ease of entry into the capital markets”, explained Manatunga on HNB’s foray into these services.
HNB with is its 275 plus billion Corporate Banking portfolio, the largest amongst the local and foreign private commercial banks, offers its corporate and retail customers the full suite of product and services, covering working capital financing, international trade financing, project financing, payments and cash management services.