COVID-19 is the defining experience of our times, given its tremendous impact on the entire world and the far-reaching socio-economic implications, many of which are still emerging.
Q: How did the bank operate during the pandemic?
Banks are an essential service for citizens - we are the backbone of the economy and this principle dictated our approach. We strived to ensure that customers enjoyed uninterrupted banking services while ensuring that the health and safety of our employees remained paramount. Our priority was to somehow accommodate and provide timely solutions to customers who were facing various unforeseen challenges. As a full-service commercial bank, it was very important that we offered pragmatic solutions with flexibility so that customers could be supported as they navigated this trying period.
I must emphasise that our ongoing digital transformation initiatives such as online banking, ATM/CDM expansion were vital to offering customers an uninterrupted service. We also joined hands with FineTech Sri Lanka to launch
Of course, through it all, we took our internal health and safety measures very seriously, acting responsibly and playing our role in helping the country combat COVID-19.
Q: How has
Given a challenging socio-political and economic operating environment in
With events such as the Easter Sunday attacks and an unstable political environment and now the unexpected impact due to COVID-19, this has become a testing period for both the sector as well as
However,
Our strong foundation, stability and the expertise of the senior management was the biggest strength for us to provide these instant facilities immediately to our customers. As a strong brand we always adore those characteristics we hold and those who have steered the way over the years. We are also deeply grateful to all our stakeholders; our loyal customers without whom this journey would not have been possible.
In the face of adversity, like this, our employees always band together to support not only each other but all Sri Lankans regardless of difficult circumstances. In response to COVID-19 we opened most of our branches almost every day and reached our customer's doorstep with mobile ATM facilities and we embraced the working from home culture by being agile with the extreme support of our own employees. This unity has been the strength behind our success.
Q: What are the bank's immediate challenges and how are you addressing those as 're-starts
Our customers have faced significant challenges in recent times - starting with the Easter attacks and now facing the fall out of a pandemic. We see our customer's challenges as our own and we want to be a meaningful partner as they navigate these tough times. Our job is to ensure that they have our support while ensuring we do not compromise ourselves in any way. Wherever possible, we have extended moratoriums, provided low-interest loans and restructured facilities to ensure our mutual objectives. As customers struggle to map their immediate futures,
We are in constant consultation with the
Q:
This was also to be expected in the current context with the revision of the country's overall sovereign rating and the challenges the financial sector had to face with the unexpected pandemic. Although it was a difficult year for the entire economy, we recorded sound growth indicators. We have monitored constant year-on-year growth with regards to our loan book which portrays a strong standing against industry averages.
Our CASA ratio increased in 2019 as well with our NPL ratio standing as one of the lowest among industry standards.
The intrinsic value of some of our strategic investment assets is another positive for
In light of all the above I must reassure all our stakeholders including our valuable clients that we at
S and P (Standard and Poor's) Global rating in their recent commentary has commented about DFCC Banks business stability, diversification, good management and strategy.
Q: You seem quite confident about the future even during these uncertain times. How do you see the future of banking?
I think the banking and financial sector will emerge stronger than ever after the crisis.
Over the past few months, even through a global crisis, the Bank has been able to cater to the new digital generation with our host of innovative products and services. The value we create for our stakeholders and the relationships we build with them is for the long term, which is why we focus and invest so much in sustainability. We believe in the future we are striving towards. We will use the challenges of this year to learn, adapt and evolve into an even stronger entity, fit for the future.
© Pakistan Press International, source