Pan Asia Bank empowers SMEs with financial management skills

Pan Asia Bank held a workshop recently for its SME customers on the topic of ‘Financial Management’ to enhance financial literacy through group-based assignments. 
Up to 40 of Pan Asia Bank’s SME clients from Tangalle, Embilipitiya and Ambalanthota in the southern region attended the workshop. The programme was conducted by banker and coach Sarath Dias Bandaranaike. 
The workshop focused on factors such as inherent strengths and weaknesses of the SME entrepreneurs and their importance for the economy and how to develop the right character traits to become a successful entrepreneur. Apart these softer aspects, the workshop put the participants through understanding of banking, working capital, current assets and current liabilities, profitability and cash flow, preparing a bank reconciliation statement, challenges of using cheques, and provided practical exposure to assessing the working capital gap and understanding funding requirements. The workshop also advised participants about the risks of improper use of credit; and this was duly supported by the regional management of the Southern Region of Pan Asia Bank. 
Nimal Rathnayake, Assistant General Manager Branch Credit said, “Pan Asia Bank often initiates valuable and practical workshops for its valued SME customer base, thereby strengthening the SME sector. SME’s are the backbone of the economy and our presence in all regions of the country ensures that Pan Asia Bank plays a pivotal role in partnering the SME sector to success.”