EY Sri Lanka to host banking conference to address key issues faced by sector

EY Sri Lanka is scheduled to host a Sri Lanka banking conference titled ‘Surfing Through the Crisis’, on November 14, 2022, at Galle Face Hotel, from 8:30 a.m. onwards. 
The event is designed to create value for Sri Lanka’s financial sector amidst the prevailing economic crisis. As the largest service providers to the financial sector in terms of audits, tax, consultancy and strategy and transaction, EY feels compelled to assist the financial sector as they navigate the challenges of the economic crisis.

The Sri Lanka banking conference, ‘Surfing Through the Crisis’, is designed specifically for CEOs, CFOs and CRO of the financial sector, as well as the chairpersons of the audit committee and the board integrated risk management committee. 
The event will cover three technical sessions on topics pertinent to the events brought about by the economic crisis, followed by a ‘Fire Side Chat’, among a panel of financial sector experts, with a multitude of experience in Sri Lanka. 

The first technical session ‘Important aspects of strengthening the SME sector for resilient economic growth and important considerations for the financial service sector’, will be conducted by Asian Development Bank Principal Financial Specialist Sanjeev Kaushik. The session will highlight the importance of supporting the SME sector, which accounts for over 52 percent of the local GDP and the role of banks in providing financial support assistance. Especially how an increase in cost funding could affect the growth in the SME sector and approaches that can be considered during the economic recovery.

The second session will cover, ‘The impact of the debt restructuring process to the financial services sector and non-performing resolution strategy’, conducted by EY Global Financial Services Leader Saleem Malik. Malik will share his experience and insights on the steps that may need to be taken to overcome the current economic conditions by combining his experiences in other jurisdictions, especially relating to Greece and Ireland. He will also discuss how banks should navigate important decision-making relating to non-performing loan resolution strategies, which will help the local financial institutions significantly.

The third and final session, ‘Key considerations for credit and liquidity risk management for banks’, hosted by EY Sri Lanka Partner Rajith Perera will explore the topic from a local standpoint, referring to the challenges currently faced by banks and financial entities, in terms of their existing profiles, credit, marketing and operations and how they can be managed by understanding critical thresholds.

The technical sessions will be followed by a Fire Side Chat moderated by EY Sri Lanka Senior Partner and Head of Consulting Arjuna Herath, with a panel comprising of Verite Research Executive Director Dr. Nishan De Mel, Standard Chartered Bank Sri Lanka Chief Executive Officer Bingumal Thewarathanthri, EY Sri Lanka Country Managing Partner Manil Jayesinghe, EY Sri Lanka Senior Partner and Head of Tax Duminda Hulangamuwa and Hatton National Bank Managing Director and Chief Executive Officer Jonathan Alles.
The objective of the Fire Side Chat is to deliberate the topics brought forward in the technical sessions, into a more local context, with the aim of finding solutions to the prevailing economic conditions in the market.