Banking Miracle

Newly renamed Pan Asia bank said they plan to get a listing on the Colombo Stock Exchange next month and raise new capital next year. Newly renamed Pan Asia bank said they plan to get a listing on the Colombo Stock Exchange next month and raise new capital next year. Pan Asia now called PABC Bank turned a profit this year on the back of tough cost management and recovery of overdue loans.
But analysts say macro economic stability is crucial for continued growth in the financial sector.

Did the new image of Pan Asia Bank look familiar?

You guessed it.

It has obviously been borrowed from the banking giant HSBC. Color scheme, the lettering.

Pan Asia Bank now calling them selves PABC is borrowing from the best in the industry.

“We had to adopt the new image to give an impetus to the growth of the bank and to create a better corporate image in the public,” R Nadarajah, CEO, PABC said speaking at the re-launch recently.

It certainly needed to create a new image with the banking public.

By 2001 over 35 percent of loans had become classified as non-performing advances.

That is a high numbe