Paper
Banking on the Future: An Interview with Chandula Abeywickrema from Hatton National Bank in Sri Lanka
A discussion with Hatton National Bank's Deputy General Manager on targeted savings products.
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Through an interview with Hatton National Bank's (HNB) Deputy General Manager, this paper explores the Sri Lankan bank's strategy of offering innovative school banking products that encourage the younger generation to save. The paper finds that:
- The school banking program started as a corporate social responsibility activity;
- The program allows children to save money in a formal bank account;
- HNB's fixed deposit products, big bonus interest savings product, life and health insurance products have been very successful;
- HNB's lottery plan motivates younger clients to save more;
- To mange the costs of small savings mobilization, HNB uses low-cost delivery models such as extension offices and student units;
- HNB balances its costs by having medium and large-sized accounts;
- HNB's innovative savings products include remittances linked with savings services and credit offerings as well as a senior citizen banking product.
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