HNB FINANCE PLC, a prominent financial services provider, has announced a strategic collaboration with the Co-operative Thrift and Credit Union (Sanasa) aimed at extending innovative financial solutions to underserved rural communities nationwide. This Memorandum of Understanding (MoU) marks a significant step towards financial inclusion, enabling residents in remote villages, previously devoid of advanced financial services, to access a wider range of products conveniently.
The partnership leverages the strengths of both institutions: HNB FINANCE’s expertise in international-standard banking services and innovative solutions, backed by its legacy within the HNB PLC group, and the Co-operative Thrift and Credit Union’s vast experience in microfinance, serving over eight million members across Sri Lanka. Through this collaboration, HNB FINANCE will be able to extend its financial services to customers in partnership with over 13,000 ‘Sanasa’ societies operating countrywide.
The signing ceremony, attended by representatives from both parties, underscores a shared commitment to empowering rural communities economically. HNB FINANCE’s Managing Director/CEO, Chaminda Prabhath, expressed delight at the collaboration with ‘Sanasa,’ highlighting the opportunity to transform lives in rural areas through accessible and efficient financial solutions. Similarly, representatives from the Co-operative Thrift and Credit Union expressed enthusiasm about the MoU’s potential to drive economic development in rural Sri Lanka.
This partnership not only signifies a strategic alliance between two leading financial institutions but also signifies a significant step towards bridging the financial inclusion gap in rural Sri Lanka. By combining their expertise and networks, HNB FINANCE and the Co-operative Thrift and Credit Union aim to bring about positive economic impacts and improve the financial well-being of millions of individuals in underserved communities.