Standard Chartered Archives

March 11, 2024

11 March 2024: Standard Chartered Bank’s Global Research team conducted its 2024 H1 Global Research Briefing (GRB) in Sri Lanka recently, themed ‘A soft landing, with risks’. The event took place on 4 March at the Galle Face Hotel Colombo and was attended by corporate, commercial and institutional banking clients of the Bank. It provided a valuable platform for participants to gain insights on the global and Sri Lankan economic outlooks for the first half of 2024.

The briefing opened with welcome remarks from Anuk De Silva, Head of Corporate Affairs, Brand & Marketing at Standard Chartered Sri Lanka, followed by an opening address by Bingumal Thewarathanthri, CEO of Standard Chartered Sri Lanka. Central Bank Governor, Dr. Nandalal Weerasinghe, delivered the keynote speech.

During his keynote address, the Governor commented on the country’s overall growth and the future inflation trends. Dr. Weerasinghe also elaborated on the importance of fiscal and other policy reforms, and strategies to mitigate future domestic and external risks by building on the country’s reserves. He also spoke of how Sri Lanka is expected to have a turnaround with a positive growth momentum in 2024 and how the Central Bank is hoping to maintain the inflation at 5% in the medium to long-term basis to aid growth.

The Global Research team focused on economic trends, strategies and views for the year ahead. The thought-provoking sessions were conducted by Kaushik Rudra, Global Head of Fixed Income Research and Head of Asia Research at Standard Chartered, who presented the global economic outlook for 2024. This was followed by the Sri Lanka outlook for 2024 presented by Standard Chartered’s Saurav Anand, Economist – South Asia.

Presenting the global economic outlook, the Standard Chartered research team noted that in 2024, global growth is expected to face persistent challenges from elevated rates, sub-par global trade volumes, and geopolitical tensions. The year is anticipated to be defined by a shift from monetary tightening to a more neutral monetary stance for global central banks. As divergence under the surface continues and the USD and US rates stabilise, emerging markets may experience pockets of improved performance. However, the new challenge for economies and markets in the year ahead may be election risk.

Turning to Sri Lanka, the team stated that Sri Lanka’s economy showed a strong recovery in 2023 following the IMF deal, and the economic recovery is expected to continue in 2024, with a focus on commercial debt restructuring. However, the potential election risk could create challenges for Sri Lanka in the year ahead.

Bingumal Thewarathanthri, CEO of Standard Chartered Sri Lanka said, “Standard Chartered is firmly committed to supporting Sri Lanka amidst economic headwinds. We are fully dedicated to assisting the government’s endeavours, and we believe that debt restructuring, and collaborative efforts will achieve positive outcomes for the country. Despite the current uncertainties, we are optimistic for a brighter economic future and remain hopeful of achieving sustainable growth and prosperity.”

A panel discussion moderated by Tamani Dias, Standard Chartered Sri Lanka’s Head of Local & International Corporates, enabled clients to receive further insights from the panellists on economic issues and perspectives. The GRB concluded with an interactive Q&A session.

February 21, 2024

20 February 2024: Standard Chartered has appointed Chamikara Wijesinghe as Head of Consumer, Private and Business Banking (CPBB) in Sri Lanka, effective February 5, 2024.

Commenting on the new appointment, Bingumal Thewarathanthri, CEO of Standard Chartered Sri Lanka, stated, “We are pleased to announce the appointment of Chamikara Wijesinghe as the Head of Consumer Private and Business Banking for Sri Lanka. His extensive experience and expertise in consumer banking make him invaluable to our team. The appointment also reflects our commitment to recognise and promote internal talent, creating a culture of growth and career potential within the organisation. We are confident that, Chamikara’s proven track record in banking will strengthen this vital area of business.”

Previously, Chamikara headed Retail Analytics and Client Experience while overseeing the Business Planning function for CPBB. In his new role, he will be responsible for the country’s CPBB business and be a part of the Bank’s Country Management Team. Expressing enthusiasm about his new role, Chamikara said, “It is an honour to lead the Consumer, Private and Business Banking team at Standard Chartered Sri Lanka. I am committed to promoting a robust CPBB strategy that not only meets the diverse needs of our customers but also drives innovation and excellence. I look forward to leveraging my experience and expertise to lead our team towards achieving new heights of success and delivering exceptional value to our clients and stakeholders.”

Chamikara holds a Master’s and a Bachelor’s in Business Management from the University of Sri Jayewardenepura, along with an Advanced Certificate in Executive Management from the Postgraduate Institute of Management, Sri Lanka. Chamikara’s career spans an extensive 27 years in Consumer Banking, which began as a Teller with ANZ Grindlays. Demonstrating a depth of knowledge, he has held various senior positions and possesses a wealth of expertise in key areas of Consumer Banking, including Branch Banking, Sales, Client Portfolio Management, Retail Products & Segments, and Wealth Management.

February 8, 2024

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08 February 2024: Standard Chartered hosted its Priority Banking clients to the exclusive Standard Chartered Priority Golf Championship on the 2 February 2024 at the Royal Colombo Golf Club.

The highly anticipated event brought together 72 golfers for a day of spirited competition and camaraderie, marking a successful return of the tournament, after a brief hiatus of one year.

The tournament has been a cornerstone of the Bank’s engagement with its Priority Banking clients, providing a platform for golf enthusiasts to showcase their skills and passion for the sport.

The exclusive event also demonstrates Standard Chartered’s commitment to providing value-added experiences for its Priority Banking clients, reflecting the Bank’s dedication to delivering an exceptional service and building lasting relationships.

Bingumal Thewarathanthri, Chief Executive Officer, Standard Chartered Sri Lanka, said, “A hearty congratulations to all our winners. The event marked an auspicious beginning for the New Year serving to create positive client engagement with our valued Priority Banking clients.”

Standard Chartered Priority and the prestigious Royal Colombo Golf Club with its scenic golf course and rich heritage, have a long-standing affiliation. The tournament showcased the enduring partnership between the two entities and provided a perfect setting for Priority Banking clients to network. It also highlighted the Bank’s pledge to nurture a vibrant golfing community.

Chamikara Wijesinghe, Head of Consumer, Private and Business Banking, Standard Chartered Sri Lanka, said, “We are deeply committed to sustaining our elite value propositions and curating the best experiences for clients. We are grateful that events such as the Golf Tournament enable us to meaningfully engage with our Priority Banking clients.”

The event featured an array of award titles, including the Standard Chartered Priority Golf Championship 2024 won by Chandima Desinghe and Runner-up – Vish Govindasamy. In the Ladies Division, the Winner was Manori Jayakody with Runner-up – Roshani Sangani. The newly introduced award, the Best Standard Chartered Staff Golfer was won by Murray Fernandesz.

Following the tournament, participants and guests were treated to a luncheon and an awards ceremony to conclude the day’s proceedings on a high note.

January 24, 2024

24 January 2023: Standard Chartered has announced the appointment of Rukshila Seneviratne as the new Head of Human Resources for Sri Lanka, effective 12^th January 2024. In her new role, Rukshila will lead the country’s people strategy and will join the Bank’s Country Management Team. As part of her appointment, she will also assume duties as the Co-Chair of the Bank’s internal Diversity & Inclusion (D&I) Council.

Commenting on the new appointment, Standard Chartered Sri Lanka’s Chief Executive Officer, Bingumal Thewarathanthri, said: “We are pleased to announce the appointment of Rukshila Seneviratne as our new Head of Human Resources. While she has been an important part of our HR team for over a decade, her promotion reflects our culture of recognising internal talent and expertise and providing the opportunities to take on leadership roles. Rukshila’s elevation is also an example of our commitment to prioritise succession planning, ensuring leadership continuity. We trust she will continue to enhance our employee value proposition with the evolving needs of a thriving workplace.”

Rukshila’s journey with Standard Chartered began in Dubai as an Officer in Consumer Banking Mortgage Operations in May 2008. She later transitioned to Sri Lanka as Manager, Secured Lending and Credit Initiation in March 2010. In June 2013, she assumed a crucial role in the HR team, leading HR Service Delivery. Throughout the past decade, Rukshila has held several senior positions within HR, comprising HR Service Delivery, Performance Rewards and Benefits Delivery, Talent Acquisition, and HR Business Partner for Retail Banking, Risk and Support functions.

She holds a Master of Business Administration from the Postgraduate Institute of Management, University of Sri Jayewardenepura, and an Advanced Diploma in Psychology from the Scottish Qualification Authority. Additionally, she is a certified Mental Health First Aider (MHFA, England).

Commenting on her appointment, Rukshila said: “I am honoured and excited to take on the role of Head of Human Resources at Standard Chartered Sri Lanka. People agenda forms the core of our business strategy, and along with my talented team of HR professionals, I look forward to contributing towards nurturing the unique and inclusive workplace culture we have, and in becoming the employer of choice for talent across industries. Our continued focus on Employee Value Proposition, employee experience, leadership development and conduct over the years has laid a great foundation to build and sustain a workplace that inspires growth, innovation, and mutual respect.”

December 4, 2023

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4 December 2023: Driving tangible community impact, Standard Chartered Sri Lanka actively encourages employees to prioritise volunteering and social engagement. Marking International Volunteer Day 2023, Standard Chartered Sri Lanka celebrates their employees’ exceptional dedication to community impact initiatives aligned to the Bank’s strategic priorities.

Impressively, 95.3% of staff have actively volunteered throughout the year to date while contributing 726 volunteering days, placing the Bank at the forefront in Asia and third globally among Standard Chartered entities for employee participation rate per country.

Employees participated enthusiastically in diverse volunteering activities including mentoring youth, conducting blood drives, distributing meals, visiting homes for the elderly & children, planting trees and organising beach clean-ups. The projects aimed at empowering vulnerable communities and supporting future generations. The level of engagement demonstrates the Bank’s commitment to harnessing its expertise towards community empowerment.

“At Standard Chartered Sri Lanka, we believe in empowering our employees to actively contribute to positive change through volunteering,” said Bingumal Thewarathanthri, the Bank’s Chief Executive Officer. “It creates meaningful connections while enabling our people to apply their talents for society’s benefit. The incredible dedication of our team in helping communities makes us immensely proud. We remain committed to driving impactful outcomes by channelling our collective capabilities towards empowering communities in need.”

Anuk De Silva, Head of Corporate Affairs, Brand & Marketing, said: “Standard Chartered empowers each employee with the opportunity to actively contribute to making a difference through volunteering. The Bank promotes a culture of care by providing three days of paid volunteering leave per year and opportunities for employees to engage in volunteer activities of their choice. The initiative not only nurtures meaningful connections within communities but also facilitates skill development and provides fresh perspectives. Ultimately, it enriches employees and enhances the collective impact in the communities served.”

The Bank promotes economic inclusion in its markets, delivering community programmes aimed at tackling inequality, supporting young people, and encouraging entrepreneurship. Allowing staff to dedicate time and knowledge through volunteering makes a tangible difference while boosting employee purpose and morale. It also serves as a crucial element to harness the Bank’s knowledge and expertise for a positive impact on communities. Additionally, collaborating with local partners to drive social and economic development within society, further demonstrates the Bank’s commitment to operate as a sustainable and responsible entity.

December 4, 2023

Standard Chartered Sri Lanka announced the conclusion of its Correspondent Banking Regional Conference for 2023, held at the Galle Face Hotel on November 23 and 24. Attended by senior representatives from more than 55 banks across the ASEAN and South Asian region, the event served as a pivotal platform for sharing insights, fostering collaboration, and advancing the landscape of correspondent banking.

The conference delved into a diverse range of topics, reflecting the dynamic nature of the industry. Discussions spanned the digitisation of global payments and trade, navigating the evolving compliance landscape, and exploring the latest global and regional macro-economic trends. Participants benefited significantly from the expertise of esteemed speakers and panellists, contributing to their continuous professional development.

Standard Chartered spearheaded the initiative to facilitate discussions on emerging trends in payments, trade, and compliance. Shivaraman Subramanian, Regional Head of Correspondent Banking, ASEAN and South Asia, Standard Chartered, expressed his sentiments at the event’s success, highlighting its broad participation by regional clients. “Standard Chartered, as one of the largest correspondent banks in the world, takes the initiative to share emerging trends in the areas of payment, trade, and compliance through the Correspondent Banking Conference. I am delighted by the success of the event, which was well participated by our regional clients,” he said.

The conference also featured an evening of fellowship on the first day, hosted by Standard Chartered at the Mount Lavinia Hotel. This provided participants with a taste of Sri Lankan hospitality and culture, enhancing the overall conference experience.

Praveen Karunaratne, Head of Financial Institutions of Standard Chartered Sri Lanka, emphasised the value of hosting such a significant regional client conference in Sri Lanka. He stated, “We are privileged to host such an important regional client conference in Sri Lanka, aimed at providing a platform to share knowledge, best practices, and ideas among regional correspondent banking clients.”

The conference’s highlights included an overview of Sri Lanka by Bingumal Thewarathanthri, Chief Executive Officer of Standard Chartered Sri Lanka, and a keynote speech on day two by the Governor of the Central Bank of Sri Lanka, Dr. Nandalal Weerasinghe. Dr. Weerasinghe shared insights into managing Sri Lanka’s economic crises, achieving macro stability, and redirecting the country on a sustainable growth path.

In addition, Takafumi Kodono, ADB Country Director, shared his views on how ADB is partnering with governments and banks to enable sustainable development and trade in emerging markets, including Sri Lanka.

By hosting this global event, Standard Chartered reaffirmed its commitment to driving collaboration and enhancing its customer experience through innovation. The conference not only highlighted the bank’s regional presence, but also showcased its dedication to fostering meaningful dialogue within the correspondent banking community.

November 28, 2023

27 November 2023: Standard Chartered Sri Lanka Priority Banking is partnering the renowned Soul Sounds choir for a fourth consecutive year, ringing in the festive season with an enchanting evening of much-loved Christmas carols.

The highly anticipated ‘Moods of Christmas,’ presented by the acclaimed all-female Soul Sounds choral ensemble led by veteran vocalist Soundarie David Rodrigo, will perform its 20th edition of Christmas carols and holiday favourites at the Atrium, Cinnamon Grand Colombo from 6.30pm onwards on 22 December 2023.

Commenting on the Yuletide celebration, Aroshana Fernando, Head of Consumer, Private & Business Banking of Standard Chartered Sri Lanka said, “We are excited to spread the holiday cheer amongst our valued Priority clients with another Soul Sounds’ memorable show, which has become a Christmas highlight. It allows us to thank our customers with enchanting music and special memories.”

‘Moods of Christmas’ aims to captivate audiences with graceful music and distinct arrangements – promising a wonderful performance. This year too, Soul Sounds will showcase fresh adaptations of festive songs inspiring the Christmas spirit and filling hearts with hope for the New Year.

Soundarie David Rodrigo, Director, Soul Sounds Academy noted, “We eagerly await performing at the celebrated ‘Moods of Christmas event each holiday season and are excited to collaborate once more with Standard Chartered. The event enables us to spread musical joy while showcasing the choir’s unique local talents to appreciative audiences. We deeply value the bank’s ongoing support as we look to craft more magical moments.”

Anuk De Silva, Head of Corporate Affairs, Brand & Marketing of Standard Chartered Sri Lanka, further noted, “As an internationally established bank with a rich heritage, we take pride in platforms showcasing world-class local talent such as Soul Sounds. We are excited to be part of Soul Sounds’ musical journey again this Christmas, blending global collaboration while cherishing local tradition.”

Over the years, Soul Sounds has captivated audiences across the world as the nation’s musical ambassadors. Standard Chartered is proud to continue showcasing world-class local talent during the most wonderful time of the year.

October 2, 2023

Recognising the contribution to supporting trade in Asia and the Pacific HNB and Standard Chartered Bank were awarded top honours, receiving the coveted ‘Best Trade Deal of the Year’ award for Issuing Bank and Confirming Bank, respectively, at the recent Trade and Supply Chain Finance Programme (TSCFP) Awards organised by the Asian Development Bank (ADB).

The banks were acknowledged for their vital role in a transaction that facilitated the import of 200 metric tonnes of milk powder to Sri Lanka during a critical period of milk shortages caused by depleted foreign reserves, surging inflation, and challenges in opening Letters of Credit (LCs).

During the milk powder shortage, Sri Lanka was grappling with their worst economic crisis, exacerbated by depleted foreign exchange reserves and soaring inflation in the aftermath of the pandemic. HNB initiated the transaction on behalf of their client, while the Standard Chartered Sri Lanka team worked closely with HNB to add confirmation to the LC, a prerequisite for the deal to materialise. ADB also supported this transaction, which agreed to shoulder a significant portion of the risk. Both banks collaborated in expertly managing the end-to-end transaction execution with ADB.

The accolade highlights the unique partnership between ADB and HNB as an issuing Bank and Standard Chartered as a Confirming Bank. It serves as a pivotal link, particularly in ADB’s Developing Member Countries, which have recently faced significant economic challenges. The collaboration in finding sustainable solutions to meet long-term needs has been vital.

This is also a testament to the synergy of the Correspondent Banking relationship between HNB and Standard Chartered, spanning nearly 40 years across the gamut of cash, trade and financial management. Over four decades, the consequent impact on the country’s economy has been immeasurable.

Commenting on the accolade, HNB Managing Director/CEO Jonathan Alles said: “We are proud to have played a vital role as the Issuing Bank in this important transaction. We have always worked towards the wellbeing of our citizens and come forward where possible to support the nation in facing its economic challenges. The award demonstrates our commitment to delivering best-in-class trade finance services and providing tailored solutions to all stakeholders in the value chain.”

Similarly, Standard Chartered Sri Lanka CEO Bingumal Thewarathanthri said, “We take immense pride in receiving the prestigious award for ‘Best Trade Deal of the Year as Confirming Bank’. The transaction represents Standard Chartered’s unwavering commitment to supporting essential services during crises, fostering humanitarian values, and clearly upholding our promise of being ‘here for good’. It also highlights our dedication to ‘doing the right thing’ and serving clients and the communities with utmost integrity and resilience.”

ADB’s Trade and Supply Chain Finance Program fills market gaps for trade finance by providing guarantees and loans to banks. Support is offered to broaden the banks’ ability to act as intermediaries, especially in the most challenging markets. The annual awards follow a rigorous evaluation process undertaken independently and are considered the most prestigious accolades in Asia’s banking and financial industry. This year’s awards covered transactions from 1st July 2022 to 30th June 2023.

September 1, 2023

Standardised minimum 20-week parental leave provisions irrespective of gender, relationship status or how a child comes to permanently join an employee’s family.

31 August 2023, Colombo: Standard Chartered globally has announced the rollout of enhanced parental leave benefits. From 1 September 2023, the Bank will be standardising the amount of parental leave offered for both mothers and fathers and providing both parents with the opportunity for greater equality in caregiving responsibilities for their children.

With the enhanced parental leave benefits, employees can look forward to a minimum of 20 weeks of paid parental leave, irrespective of gender, relationship status or how a child comes to permanently join an employee’s family, including adoption.

Tanuj Kapilashrami, Group Head of Human Resources, Standard Chartered, said: “We continuously look at how we can introduce progressive benefits that drive inclusion, improve the employee experience, and help colleagues achieve their potential.

By standardising parental leave benefits, we are supporting cultural change with regard to shared childcare responsibilities, with the objectives of improving women’s participation and progression in the workplace, positively impacting families’ financial wellbeing, and creating a more inclusive workplace that supports each individual’s unique family planning choices.”

“Equity, inclusivity, and diversity are the very DNA of Standard Chartered,” said Bingumal Thewarathanthri, CEO, Standard Chartered Sri Lanka. “We firmly believe that fostering an environment where every colleague feels valued and empowered to succeed is essential for business excellence. This step towards equal parental leave benefits is a testament to our commitment to nurturing our employees’ personal and professional aspirations.”

Standard Chartered Sri Lanka’s Head of Human Resources, Ransi Dharmasiriwardhana, further emphasised the Bank’s commitment to setting an example. “Our pledge to uphold values and promote diversity and inclusion remain unwavering and we hope our efforts would inspire other organisations locally to follow suit. Together, we can make strides toward a more inclusive society, taking a stand to lift participation of the female workforce by standardising parental leave across genders, and contributing to enhancing gender equality in employment by reducing the unconscious bias of ‘motherhood penalty’ effecting female participation.”

The enhanced benefits have been designed to support all working parents and the family unit. This is part of the Bank’s commitment towards driving an equitable and inclusive culture, where employees are able to achieve their potential while balancing family life with a successful career.

August 17, 2023

17 August 2023, Colombo: Standard Chartered Sri Lanka demonstrated exceptional success at the Asset Triple A Treasuries Awards 2023 where the Bank secured five coveted awards across various categories. The awards, a hallmark of excellence in corporate treasury management, trade finance, supply chain management, risk management, and ESG initiatives, underscore the Bank’s commitment to pioneering financial solutions.

Standard Chartered Sri Lanka’s outstanding achievements include its proficiency in offering cash management services tailored to the unique needs of Sri Lankan businesses, which earned it the accolade for Best Service Providers – Cash Management (Sri Lanka). Similarly, the Bank’s unwavering commitment to providing trade finance services was acknowledged with the award for Best Service Providers – Trade Finance (Sri Lanka).

The Bank’s innovative prowess came to the fore as it was honoured with the award for Best New Economy Solution – Payments and Collections (Sri Lanka), highlighting its dedication to transforming the financial landscape. This award was achieved for the implementation of the first and only API-based real-time collection solution with credit and debit notification enabled in Sri Lanka that allows checking of receivables status and running of any receivables-related query 24×7 and 365 days a year. Furthermore, Standard Chartered Sri Lanka’s dedication to effective project execution and management was recognised through the award for Implementation Manager of the Year, awarded to Devaka Wijedoru, Head of Global Implementation, Transaction Banking.

Lastly, underscoring its efforts in providing securities services, the Bank also received the esteemed title of Best Sub Custodian, South Asia (Sri Lanka) at the Asset Triple A Sustainable Investing Awards for Institutional Investors, ETFs, and Asset Servicing Providers 2023.

Bingumal Thewarathanthri, Chief Executive Officer of Standard Chartered Sri Lanka, expressed his elation regarding the Bank’s resounding success at the awards. “These awards are a testament to our continuous efforts to provide unparalleled financial solutions and services to our clients. We remain steadfast in our commitment to fostering innovation and excellence across all aspects of our operations, contributing to the growth and success of businesses in Sri Lanka.”

Standard Chartered Sri Lanka’s remarkable achievements at the Asset Triple A Treasuries Awards 2023 underscore its position as a trailblazer in the financial industry, setting new standards for innovation, service quality, and client-centric solutions.

The Asset Triple A Treasuries Awards are highly esteemed recognitions presented annually to outstanding companies and financial institutions that have showcased exceptional prowess in implementing ground breaking initiatives across various financial sectors. These awards span across categories such as corporate treasury management, trade finance, supply chain management, and risk management. The winners are acknowledged both at the in-country/territory level and on a regional scale encompassing Asia Pacific, the Middle East, Europe, and North America.

Older Posts

Standard Chartered’s Global Research Team offers economic perspectives for Global and Sri Lankan markets

Standard Chartered names Chamikara Wijesinghe as the new Head of Consumer, Private and Business Banking

Standard Chartered Priority Golf Tournament 2024 tees off for top clients

Standard Chartered appoints Rukshila Seneviratne as new Head of Human Resources in Sri Lanka

Standard Chartered Sri Lanka staff champion volunteering initiatives purposefully serving communities

Standard Chartered Sri Lanka strengthens regional ties with Correspondent Banking Conference 2023

Standard Chartered Priority to partner Soul Sounds to ring in season festivities with ‘Moods of Christmas’

HNB and Standard Chartered triumph with prestigious ‘Best Trade Deal of the Year’ award from ADB

Standard Chartered drives inclusion with enhanced global parental leave benefit

Standard Chartered Sri Lanka shines with five prestigious Honours at the Asset Triple A Treasuries Awards 2023