Sri Lanka’s largest private sector retail bank, HNB PLC, hosted an exclusive forum for high value clients, businessmen, key opinion leaders, and stakeholders to discuss the future of Sri Lanka’s motor vehicle industry and its outlook for 2025. The event brought together some of the nation’s most prominent voices in economic and industry policy, providing attendees with valuable insights into emerging trends, challenges, and opportunities shaping the sector.
“As an entity with 35 years of experience in leasing, HNB understands the vital role the motor vehicle industry plays in shaping Sri Lanka’s economy and daily lives. This forum is an opportunity to ignite meaningful conversations on a timely and critical topic, addressing perspectives from all stakeholders—be it the government, businesses, or individuals. Despite the challenges of the past five years, Sri Lanka’s vehicle market has shown remarkable resilience, and as we move forward, it is essential to debate what will be relevant and sustainable for the future of this sector,” said Damith Pallewatte, Managing Director/CEO of HNB PLC.
The forum commenced with a keynote address by Duminda Hulangamuwa, Senior Economic Advisor to the President, who emphasized the need for strategic policymaking to drive sustainable growth in the motor vehicle industry. Hulangamuwa outlined key considerations for aligning the sector with Sri Lanka’s broader economic development goals, highlighting the potential for innovation and reform in the years ahead.
A thought-provoking panel discussion followed, moderated by Daily FT Editor and CEO Nisthar Cassim. Panelists included Murtaza Jafferjee, Chairperson of Advocata Institute; Shiran Fernando, Chief Economic Policy Advisor to the Ceylon Chamber of Commerce; Shiromi Jeewamala, Motor Vehicle Information, Communication, and Technology (ICT) Commissioner; Charaka Perera, COO of United Motors Lanka Group and Immediate Past President of the Ceylon Motor Traders’ Association; Duminda Hulangamuwa, Chairman of the Ceylon Chamber of Commerce and Economic Policy Advisor to the President; and Damith Pallewatte, Managing Director and CEO of HNB. The discussion explored topics ranging from regulatory reforms and economic factors impacting vehicle imports to the future of electric vehicles and sustainable transportation in Sri Lanka.
“As a pioneer in the leasing industry, HNB is uniquely positioned to support the motor vehicle sector’s evolution. We are committed to providing innovative financial solutions that empower businesses and individuals to thrive in this dynamic landscape,” said Damith Pallewatte.
The forum underscored HNB’s dedication to fostering dialogue and collaboration among key stakeholders, reinforcing its position as a catalyst for progress in one of the country’s most dynamic industries. By providing platforms for meaningful engagement, HNB continues to strengthen its mission of driving economic development and empowering its diverse customer base.
HNB PLC, with 254 customer centres, stands as one of Sri Lanka’s largest and most technologically innovative private banks. Having been recognized as the Best Retail Bank in Sri Lanka for the 14th consecutive year at the Asian Banker Global Excellence in Retail Financial Services Awards 2024, HNB continues to solidify its reputation in the sector. The bank was also named Best in Automobile Financing for the entire Asia-Pacific region at the Asian Banker Awards 2024. Additionally, HNB was declared ‘The Best Bank – Sri Lanka’ at the second Emerging Asia Banking Conclave and Awards, organised by the Indian Chamber of Commerce (ICC). The bank was further honored with prestigious awards, including Best Market Leader in Trade Financial Services at the renowned Euromoney Awards for Excellence 2024, highlighting its excellence in service, market leadership, and commitment to sustainable banking practices.
