Pan Asia Bank strengthens financial management skills of SME entrepreneurs

The pandemic and the economic crisis have put enormous pressure on entrepreneurs in terms of the financial sustainability of their businesses. However, the recent developments in financial markets and on the economic front have created a positive sentiment among the business community.

As an active business partner for entrepreneurs, Pan Asia Bank is always in the forefront of supporting the Sri Lankan business community to move forward. As a key initiative, the Bank recently held the latest session in a series of workshops on ‘SMEs and Financial Managementto enhance financial literacy to better manage small businesses.

Thirty two Pan Asia Bank SME customers from the Colombo South region attended the workshop which was held at Ariyana Reach Hotel in Maharagama. Pan Asia Bank’s endeavor was to empower them with financial management skills to boost the financial viability of their businesses.

The workshop was conducted by Sarath Dias-Bandaranayake, a Fellow of the Institute of Bankers, Fellow of the Institute of Training and Development, Founder Fellow of the Institute of Chartered Professional Managers; Certified Life and Business Coach is a Trainer of Entrepreneurs, Banking & Finance and HR Professionals, Essential Skills, Trainers, Coaches; Life and Business Coach; Banking, Finance, Management and a HR Consultant.

Participants benefitted by way of gaining knowledge on preparation of cash flows, bank reconciliation statements and financial literacy. The workshop also helped customers understand banking in relation to their business and financial security. This included an overview of bank borrowings, working capital, Current Assets and Current Liabilities and Profitability and cash flow.

The workshop concluded amidst positive feedback from the participants, who felt the newfound knowledge wouldprove useful in carrying out their future business activities and to maintain business records.

Pan Asia Bank’s Assistant General Manager Branch Credit Nimal Ratnayake commented, “Pan Asia Bank is committed to holding these workshops regularly for its SME customer base because of the value they add to the economy.”

 Source:Daily News