The Custody and Trustee Services unit of Hatton National Bank PLC (HNB) has crossed a milestone achieving Rs. 1 trillion in total Assets Under Custody (AUC).
This achievement cements HNB’s position as the leading local provider of custody and trustee services, a sector traditionally dominated by foreign banks. Set up in 2016, HNB’s Custody and Trustee Services has steadily expanded its client base to 317 institutional and corporate clients, including large provident funds, local and international fund managers, high net worth individuals and other corporate entities. The unit’s portfolio spans equity, debt instruments, treasury bills and bonds, repos, fixed deposits, commercial papers, money market instruments, and trust certificates.
It also provides fund accounting and Net Asset Value (NAV) calculation services for numerous unit trust funds and insurance companies. HNB Managing Director/CEO, Damith Pallewatte, said, “Surpassing Rs. 1 trillion in assets under custody reflects our steadfast commitment to serving as a trusted partner in our clients’ financial journeys. By continuously enhancing our systems, expertise, and client-focused solutions, we are strengthening Sri Lanka’s capital markets and reinforcing our role as an undisputed industry leader.”
HNB has developed a strong presence in the trustee and custodial banking services industry, he said.
