We know the past several weeks have been challenging as the situation with coronavirus (COVID-19) continues to develop. Nothing is more important to us than the health and safety of our customers, and that of our colleagues, and we want you to know that we’re here to help.
As a Nations Trust Bank Cardholder we are providing you with the following relief measures during these challenging times.
Reduction of the minimum amount due for all Nations Trust Bank Credit Cards (excluding Corporate Cards) to 2.5% for statements generated after 8th April 2020.
An extended time period is offered till 17th May 2020 to settle your due payments. Interest charges waived for statement dues settled in full prior to 17th May 2020. Interest charges reflected in your Apr/ May statements will be reversed if full payment is made on or before 17th May and will be credited to your card account by 28th May.
The late payment fees will not be charged with effect from 23rd March 2020 until 30th September 2020.
Reduction of the Annual Interest to 15% for all local transactions up to a maximum of LKR.50,000/- for statement cycles commencing from 23rd March 2020. Annual Interest rate applicable on all other transactions will be calculated at 28% and the interest rebate for local transactions will be reflected in the following month credit card statement.
Digital Banking Customers
Assistance & Awareness
We encourage all our customers to use Digital Channels Such as Nations Mobile App, Online Banking and ATM/ Cash Deposit & withdrawal machines as a safety, contactless way to bank.
We have published a series of “how to” videos and guides on our social media platforms to assist you with the several functionalities.
We understand the current environment stemming from COVID-19 maybe creating several challenges for your business. We will continue to support all our clients during this difficult time by processing transactions through our digital channels and support international trade to source essential items & raw materials as well as facilitate all exports.
We will also assist our clients operating in impacted sectors to structure suitable credit lines to withstand this difficult period.
We will fast track your trade transactions and the issuance of shipping guarantees even during curfew times and provide assistance to set up online banking facility within a short period to facilitate your finance teams to “work from home”.
Please feel free to contact your Relationship Manager or the Branch Manager to discuss the assistance program, trade services or to set up online banking facilities at the earliest.
Consumer Loans | Leasing
Thank you for submitting your moratorium application.
We are in the process of evaluating and granting moratorium depending on your eligibility which will be notified to you soon.
As your banking partner we will continue to support you in facing this difficult period.
Safety & Social Responsibility
In our endeavour to support the national cause against the Covid 19 outbreak, we are taking all necessary steps to protect our customers, merchants and partners who walk into our branches for their banking needs. Working within limited banking hours yet facilitating essential financial & banking services, we have implemented customer safety precautions at all our branches by facilitating hand sanitizers, limited entry into the premises at a given time and queue formation with adequate distancing and contactless servicing.
In our commitment towards Corporate Social Responsibility, Nations Trust Bank pledged a donation towards the production of medical scrubs suit in collaboration with the Sri Lanka Navy to be used by the front line healthcare workers, this is the first of the several initiatives planned by the bank.
At Nations Trust Bank, it is of utmost importance to us to ensure the health and safety of our staff members; our greatest asset. The Bank has implemented precautionary measures to protect its employees, which includes providing face masks and hand sanitizers; installing temperature screening in our offices; setting up health monitoring mechanisms and facilitating ‘work from home’ and staff rostering options across the network. Identified by the authorities as an essential service, we continue to service your day to day financial needs and aspirations and remain focused on providing you with the service and support you have come to expect from us.
Services Through Branch Network
To provide support in your banking needs we keep our branches for limited hours to offer you the following services;
OTT-Outward Telegraphic Transfers
SLIPS-Sri Lanka Interbank Payment System
Pay Order issuance
FD & REPO renewals
RTGS-Real Time Gross Settlements
CEFT-Common Electronic Fund Transfers
Credit/Debit Card blocking
While providing these services at your convenience we advice you to follow the required safety measures and also adhere to the rules & regulations imposed by the Government.
*Please note that branch opening hours are subject to government and CBSL directions
Digital Banking | ATMs | CRMs
Our Nations Mobile App and Online Banking service continue to provide seamless banking experience with bill payments, fund transfers, balance check and many more from home in secure way.
Our Cash deposit & withdrawal machines in branch premises and other convenient locations can be used for quick cash withdrawals, deposits and even bill payments on your way.
Refer following quick links for assistance and support with our digital banking services.
Locate nearest Branch, ATM or cash deposit machine : bit.ly/NTBOnline Or via Nations Mobile App
Owning Productivity And Winning At Work
A few weeks ago, working for home (WFH) was a fantasy. No restrictive office wear, the comfort of your couch, and more time with the family; seemed like wishful thinking.
All of a sudden working from home is the new reality. But it came with an unexpected companion - a lack of productivity. You can't focus, your to-do list is out of control and you get into a panic every time your boss calls.
It's time to get your productivity under control.
Your first step is to self-evaluate. What is it that's keeping you from being productive? Are you:
• struggling to focus?
• lacking motivation?
• being swayed by distractions?
• finding it hard to separate your personal life from your work?
• feeling crippled by the isolation?
These are all common experiences for those working from home. Whether you are new to this situation or are a WFH veteran, take the time to assess the underlying issues. Be honest with yourself and know your enemy.
Having a productive day starts the night before. A lack of sleep can play havoc with your ability to focus. Make sure you get a good 7-9 hours of sleep every night. No amount of coffee can make up for it. If you're still yawning through your day, try:
• drinking enough water to avoid tiredness from dehydration
• taking breaks to re-energise
• short bouts of exercise to get your blood pumping and your adrenalin flowing.
Following a well-rested night, ease into your day. While working from home means skipping the commute, it also means forgoing the time you gear up, or get work-ready. Try putting a 'start-up routine' in place. Get up in the morning, have breakfast and get dressed. Start by checking your emails. Or write out your plan for the day. These activities help get you in the right mindset and commit to work, just as if you were going in to the office.
While you're writing out your plan, create a realistic schedule. Mark out exact times for work, family and household commitments, plus social interactions. This way you can make sure your personal life is balanced out with your work life. It helps prevent you from stopping work randomly to put on a load of washing or something similar.
Commit to your schedule and uphold it stringently. Share it with the rest of your household and enlist their support. This helps create boundaries so your family knows when they should keep a low profile and not disturb you.
Those boundaries get trickier with kids in the mix. You should set up a proper work area. Get off that couch or bed and sit upright at a table. Your little ones will find it easier to know wen you're in work mode.
As you put your work nook together, make sure it&'s away from easy distractions. Working for home means there's always the possibility of endless snacks, access to television, not to mention unlimited use of your favourite apps. While setting up a work space you will actually enjoy using, keep it professional so those distractions don't hinder your productivity. Out of sight, out of mind.
But what if you sit down to work and you just can't get very far? Take a look at your to-do list. If your goals are too big it can be demotivating. Or perhaps there are some tasks that you dread doing. Try to break your goals down to smaller, manageable parts. It makes them less daunting and you will be able to tick them off faster. Quick wins keep you motivated. As for those objectionable tasks, deal with them first. That way you won't be fearing them, throughout the day.
To help, you can try applying the Pomodoro technique; which dictates that your workday be broken into 25-minute chunks, followed by 5-minute breaks. After four of these intervals, stop for 15-20 minutes. The premise is shorter work brackets are motivating deadlines. It frees you from that 'oh, I have all day' mindset, and gets you working more purposefully. The breaks help you re-charge and re-focus.
As for those phone calls from the boss, get on the right foot and setup daily catch-ups yourself. Having to report to someone regularly keeps you accountable. It also gives you the motivation and the push to be productive.
While you're arranging those calls reach out to your co-workers. The longer the isolation the worse it is for morale and efficiency. The lack of a team atmosphere increases feelings of loneliness; and loosing the sense of being a part of a group, can get you down. Keep communication channels open. Share stories, problems and work progress. Utilise video conferencing services like Zoom for face-to-face interactions. Keep the general chit chat going and even setup virtual hang outs, to maintain the social connection with your team. The boost this will give your morale is sure to aid your productivity.
At the end of the day everyone handles WFH a little differently. Experiment with a variety of techniques to see what works best for you. It's a process of continuous improvement but remember, everything you practice can be re-applied back in the office. Sort out your productivity now and reap the benefits for life.
Your Guide to the New Re-Financing Initiative
On the 27th of March 2020, the Sri Lankan government released a six-month re-financing facility worth Rs. 50 billion. The scheme outlined under Circular 05 of the Central Bank, aims at supporting businesses and individuals, including the self-employed, affected by COVID-19.
You're not alone in wondering what this means for you. So let's take a look.
What's on Offer?
There are two main components of the facility:
• Debt moratorium (capital and interest); including
• Concessions for existing performing loans as at 25.03.2020
• Concessions for existing non-performing loans (NPL) as at 25.03.2020
• New loans; including
• Working capital loans
• Investment loans
From the 25th of March 2020 the following financial institutions are able to participate in this re-financing facility, in order to support their business (including self-employment businesses) and individual customers, affected by the current pandemic:
• Licensed commercial banks
• Licensed specialised banks
• Licensed finance companies
• Specialised leasing companies
Credit facilities supported under this scheme are:
• Term loans
• Leasing facilities
• Trade finance facilities
There are four overarching sectors eligible to partake of the offered implements:
• Tourism, direct and indirect export-related businesses including apparel, IT, tea, spices, plantation and related logistic suppliers that have been adversely affected by work disruption and overseas lockdowns resulting from COVID - 19.
• Small and Medium Enterprises (SMEs) engaged in business sectors such as manufacturing, services, agriculture (including processing), construction, value addition and trading businesses including authorised domestic pharmaceutical suppliers with turnover below Rs. 1 billion.
• Self-employment businesses and individuals who have lost their jobs or income due to the outbreak of COVID-19.
• Foreign currency earners (individuals and corporates) who have to repay loans in foreign currency and whose incomes/ businesses have been adversely affected due to the outbreak of COVID-19.
Below is a breakdown of the temporary debt postponement available to debtors, as per Circular 05. Note that eligible businesses and individuals must apply to their financial institutions, to be granted concessions.
Concessions for existing performing loans as at 25.03.2020
• Debt moratorium period: 6 months
• For: all eligible businesses/sectors listed above
• Debt moratorium period: 6 months
• For: all three-wheelers, school vans, lorries, small goods transport vehicles and buses and related assets such as motor bikes and taxies operated by the self-employed/ owners.
• Debt moratorium period: until 30.05.2020
• For: private sector non-executive employees
Personal loans and leasing rentals valued less than Rs. 1 million
• Debt moratorium period: 3 months
• For: all individuals
• Permanent overdraft facilities falling due for settlement, or maturing, or are reviewed, during the period up to 25.03.2020 shall be extended up to 30.09.2020.
• Expiry of temporary overdraft facilities as at 25.03.2020 shall be extended by two months for eligible borrowers. Interest rates on such facilities will be capped at 13% during the extended period.
• Eligible trade finance facilities falling due for settlement, or maturing, or were under review during the period up to 25.03.2020, shall be extended up to 30.09.2020.
• Pawing facilities falling due for settlement, or maturing, during the period up to 25.03.2020 shall be extended up to 30.09.2020.
Concessions for existing non-performing loans as at 25.03.2020
The concerned financial institutions shall waive off penal interest, charged up to 25.03.2020. Rescheduling of loans and advances according to the amount of repayments. Suspension of recovery actions.
As per Circular 05, financial institutions may provide new working capital or investment loans, based on eligibility and the below mentioned conditions. Also note, your financial institution may obtain suitable collateral to mitigate the risk relating to any additional credit facilities, granted under this re-finance facility.
Working Capital Loans
Performing and Non Performing borrowers
Rs. 25 million or 2-month working capital requirement, whichever is higher based on the requirement for working capital cycle.
Rs. 300 million per bank per borrower to expand business activities.
Limits for non-bank financial institutions
Rs. 10 million or 2-monthworking capital requirement,whichever is higher based on the requirement for working capital cycle.
Licensed Banks 4%
Other financial institutions 7%
Licensed Banks Maximumof AWPLR plus 1.5%
Other financial instutions N/A
25.03.2020 to 30.09.2020
25.03.2020 to 30.09.2020
Credible Business Plan
Your Next Steps
If you haven't already it's time to assess your financial situation.
• Evaluate the impact COVID-19 has had on your income and that of your business. Is it likely to improve in the short-term? Can you keep up with your financial obligations?
• Apply for the debt moratorium. Remember, this is not provided by default and you need to make an official request electronically or via an agreed upon channel, with your financial institution. The deadline for all requests is the 30th of April 2020. Contact your financial institution for clarity on processes and documentation. The onus is on you.
Redo your budgets in view of the change in trading and operating conditions. What cash flow options will you need to stay afloat? Do you need to invest in your business to cater for new opportunities? Do you have sufficient funds when conditions return to normal?
• Apply for a new investment loan, if there are opportunities your business can pursue. However, make sure such activities are viable and will generate sufficient revenue to pay back your borrowings plus interest. Be smart. Don't take up a new loan without the ability to manage repayments.
• Apply for a working capital loan, to help support operational obligations, or have it in place to assist with a re-launch. Be mindful to only take out a loan for what you need. Future trading conditions are not guaranteed. Hope for the best but prepare for the worst.
Remember all applications, for mechanisms under this re-financing scheme, must be made by the 30th of April 2020. If you want to take advantage of the options available, it is crucial you talk to your financial institution without delay. Make smart choices in regards to both your personal and business borrowings.
If you need any help, the Customer Service team at Nations Trust Bank are always ready to support you. Contact us now on +94 11 4 711411.
Stay safe. Be hopeful. Remain focused.
Safe, Hopeful, Focused
At Nation's Trust Bank, we've adopted the motto 'Safe, Hopeful, Focused' in light of COVID-19. You'll have seen it on our social media, in our blog posts and on our website. But why are we so adamant about this?
We have always aspired to help you achieve today's goals and tomorrow's aspirations. And we see no reason to stop. This pandemic is a big hurdle. But with the right actions and mindset, we firmly believe your dreams do not have to be put on hold. That's why we encourage everyone to:
• Stay SAFE - there is no currency of greater value than your health.
• Be HOPEFUL - positive thinking keeps you open to opportunities.
• Remain FOCUSED - the path may have changed but the final destination is still reachable, if you keep striving.
Your wellbeing is always a priority. But when was the last time your health affected everyone else's? The contagiousness of the current virus is unparalleled. Taking unnecessary risks or ignoring medical advice has far reaching consequences.
By ignoring our own safety we jeopardise the wellbeing of loved ones. We risk overwhelming healthcare systems, which in turn leads to increased fatalities. The longer this pandemic lingers, the greater the cost to our economy. Stock markets decline, job losses become widespread, and the potential for a recession looms.
Yes, we are painting a stark picture. Unfortunately, this is the very real risk we face. 'Stay Safe' isn't just a congenial platitude. It's a civic duty we owe our family, our neighbours, our country and in fact, the world.
With such disheartening predictions, you may wonder what use there is in being hopeful. The reason is simple. Even in the darkest circumstances, hope can light the way forward. To loose hope is to destroy motivation, the zeal to find answers, the spirit to persevere.
The alternative to being hopeful is akin to giving up. And that is not who we are, as Sri Lankans. We are stoic. We are resilient. We know how to support one another and push forward. In doing so we keep the door open to new opportunities, maintaining a positive attitude for the future.
With some hope in our back-pockets it's easier to remain focused on the long-term. Re-planning, re-formulating and preparing to bounce back, strengthens our communities and our economy.
By not looking ahead, we risk being left behind, when the clouds dissipate. If we don't use our collective resources to generate ideas and remain productive, our recovery as a nation will be hindered.
Evaluate your personal and business positions. What can you do now, to aid your future success? Consider applying for the government's re-financing scheme to help manage cash flows. Be open to new ideas. Maintain communication with your network and community, to identify and share opportunities. Build your online professional profile. Your goals are all still achievable, with the right focus.
If there is one thing to take away from all this, it's that your dreams are not on hold. With the right care, a positive mindset and a concentrated effort, anything is possible. As for ourselves, we remain dedicated to supporting you. Your success is our success. Your win is a win for the nation.
With that, stay safe, be hopeful and remain focused.