Business
People’s Bank celebrates its 60th anniversary
30th June 2021, Colombo:
On the 1stJuly 2021, People’s Bank celebrated its 60th anniversary on 1st of July 2021 marking a period during which it revolutionized the Sri Lankan banking industry by taking innovative banking to touch the lives of even the most grass root level customers who had had been largely overlooked by the industry.
During the past 60 years, the bank has always strived to understand its customers’ needs and was able to use new technology and innovative products to meet those needs. It is this approach that has won them Sri Lanka’s largest customer base of over 14 million.
People’s Bank was established under Act No. 29 of1961 with the aim of uplifting the corporate business and rural banking systems. This Act was submitted to Parliament by then Minister of Trade, Food, Co-operatives and Shipping,T. B. Illangaratne, during the regime of Prime Minister Sirimavo Bandaranaike. Vincent Subasinghe was the first Chairman of People’s Bank; he was a pioneer in providing banking services to the corporate sector.
In an era when banking services were limited to English speaking upper end of the society,
It was the establishment of People’s Bank that changed that phenomenon, by starting to work in Sinhala and Tamil.
Right from the inception, the bank started working towards its mission to serve the masses. Accordingly, People’s Bank has introduced many firsts to the country such as agriculture loans, Pawning, SME loans, Women’s Savings Accounts and Children’s Savings Accounts to name few. Most of these product concepts were so widely embraced by the society, that almost all the local commercial banks are now offering them under different brand names.
Currently, People’s Bank is one of Sri Lanka’s largest financial institutions, boasting over Rs.2.3 trillion in assets. Its network of 741 branches/service centres is the country’s largest. The bank also possesses a network of over 250 Self Banking Units operating 24/7 all 365 days of the year. This enormous network has enables the people to get their banking done safely, securely and with ease of accessibility.
Speaking at a 60th anniversary celebratory event, the Chairman of the People’s Bank Mr. Sujeewa Rajapakse stated “Marking a turning point in the Sri Lanka banking sector, People’s Bank was established on 1st July 1961. Today, we celebrate the 60th anniversary with much pride. As a reputed state bank, People’s Bank not only provides state-of-the-art financial facilities but also renders their services to uplift the social economy. As a state bank, People’s Bank’s objectives transcend beyond mere profits and the main focus has always been the country’s development. Hence many a time we have provided financial facilities for exports, education, health, expressways and tourism infrastructure.
People’s Bank has always come forward to shoulder the societal responsibilities and even the current COVID-19 pandemic is no different. We are very much a part of this nation and this is why the country in turn considers us as the pride of the nation”.
Ranjith Kodituwakku – Chief Executive Officer and General Manager, People’s Bank also commented “From the inception, People’s Bank was open to the common man instead of just one strata of the society. Although the bank was catering the mass market, that did not prevent it from being innovative and technology oriented. This is why People’s Bank expanded rapidly in terms of network, financial performance, product portfolio and brand value. Furthermore, People’s Bank has greatly supported the country’s socio-economic development. People’s Bank continues to introduce new banking technology to the financial sector and to its customers in order to establisher stronger relationships with them. We look to pioneer modern banking solutions in the future as well”.
While the bank initially focused on rural sectors and cooperative movements, since then the bank has evolved and is currently offering a range of products to support their customer’s standards of living. The loan schemes on offer include, Personal Loans, Housing Loans, Professional Loans, Educational Loans and Vehicle Loans. Furthermore, People’s Bank from time to time has introduced special loans schemes to assist farming and fishing communities especially to revive the country’s economy after challenging times.
Adapting to the modern world, the People’s Bank launched a digital banking project in 2015, to ensure that their customers could transact easily, safely and efficiently. People’s Bank was the first bank in the island that took steps to undertake a comprehensive digital transformation project covering major part of its operations. As a result People’s Bank now provides a world class digital banking experience to all its customers.
For example, People’s Bank has enabled customers to open an account paperless in as short a time as 10 minutes. As another key component of the digitization journey, People’s Bank introduced People’s Wave mobile banking App for customers to transact any time of the day using their mobile phone without having to go to a bank branch and this has become the most downloaded app in Sri Lanka. Also, People’s Wiz Loan Originating System has enabled the bank to grant personal loans within 24-hours.
In addition, a mobile app was specially introduced to institutional customers called People’s Wyn. Online banking facilities targeting both retail and corporate customers were introduced in 2018.
In recognition of the unparallel contribution made by the People’s Bank towards betterment of the country, banking industry and customers, it has been recognized with many an award both locally and internationally over last several years. Recently the Bank won multiple awards from leading institutes such as The Asian Banker magazine (Sri Lanka’s Best Retail Bank & Sri Lanka’s Best Digital Bank in 2021″ and Asia Money magazine (Best Domestic Bank and Best Digital Bank in Sri Lanka in 2020). Additionally, The Banker Magazine named People’s Bank as one of the top 1000 banks. Locally, People’s Bank has won “Banking Services Provider of the Year” award at SLIM Nielson awards for 15 consecutive years.
Business
HNB Assurance Elevates ‘Liya Harasara’ 2026 with Unmatched Benefits to Honor the Spirit of Womanhood
HNB Assurance PLC launched the 2026 edition of Liya Harasara, its flagship annual initiative dedicated to celebrating and empowering women in line with International Women’s Day. Recognized as one of the most anticipated campaigns of the year, Liya Harasara continues to evolve, delivering meaningful protection and exclusive privileges designed to support women in every stage of life.
This year’s edition introduces the most rewarding benefits in the history of the initiative. Women who sign up for eligible Regular Premium Life Insurance policies will receive a Free Life Cover of up to Rs. 2 Million for one year, along with a Free Critical Illness Benefit of up to Rs. 500,000, providing enhanced financial security and reassurance when it matters most. Additionally, female policyholders are also entitled to pregnancy related hospitalization cash benefit for Life Insurance Policies with in-force Hospitalization Benefit, for a maximum of three days per annum.
Commenting on the significance of this year’s campaign, Lasitha Wimalarathne, Executive Director / CEO of HNB Assurance, stated: “As we mark our 25th year as a trusted life insurer, we wanted Liya Harasara 2026 to reflect the strength of the journey that brought us here. For 25 years, women have been at the heart of our story, as leaders, advisors, customers and changemakers. This special edition is our way of honoring that partnership and reaffirming our commitment to protecting their aspirations for the future. When women progress, families prosper and communities thrive and we are proud to stand by them with meaningful protection and lasting assurance.”
Sharing his thoughts, Dinesh Yogaratnam, Chief Marketing and Customer Experience Officer of HNB Assurance, added, “Liya Harasara has grown into more than just an annual campaign, it is a tribute to the Spirit of Womanhood, to resilience, ambition and strength. The 2026 edition has been thoughtfully enhanced to deliver greater value and deeper impact, ensuring women receive protection that truly supports their ambitions and wellbeing. We remain committed to creating solutions that empower confidence and provide peace of mind, enabling women to focus on achieving their goals without compromise.”
Business
Seven decades of sartorial excellence: The legacy of Linton Master Tailors in Kandy
In the 1950s, Linton Wimalasena Udagagedara served as the tailoring instructor at the rehabilitation unit of the Bogambara Prison. Known affectionately by all as “Linton Master,” he laid the foundation for a legacy that would eventually redefine men’s fashion in the hill capital.
In 1958, Linton Master ventured into private business by renting a small shop in Trincomalee Street, Kandy, under the name “Linton Master Tailors.”
Supported by a handful of employees and the unwavering strength of his wife, Srima Alwala, the business began its humble journey. In those early days, Linton Master would travel from Kandy to Pettah, Colombo, walking miles to handpick high-quality fabrics at affordable prices. Though the initial years were a struggle, he never compromised on quality.
Due to his commitment to superior craftsmanship and impeccable finishing, “Linton Master’s Shop” in Trincomalee Street soon became a household name across the Kandy region. By the 1970s, the thriving business moved to Yatinuwara Veediya. As the enterprise grew, Linton Master eventually purchased the rented building and the adjacent premises. In the 1990s, the brand reached its zenith, becoming a hallmark of excellence.
Following the passing of Linton Master in 2009, the business transitioned into a new era. Today, it stands proud at the same familiar location in Yatinuwara Veediya, rebranded as “Linton & Sons Master Tailors.” His legacy is carried forward by his children; while one son manages a printing press and a daughter runs a bridal wear brand under the Linton name, his son Nidarshana Udagagedara has significantly expanded the core tailoring business.
Today, Kandy is home to three main institutions bearing the prestigious Linton brand. Linton & Sons Master Tailors, now employing around 20 skilled professionals, is a nationally recognized name. Known for their international standards, it is said that anyone who gets a full suit tailored at Linton & Sons invariably returns for their second.
The business that once started with fabric handpicked from Pettah now utilizes world-renowned international brands. Linton & Sons is currently the only tailor shop in Kandy that creates garments using prestigious fabrics such as Raymonds, Pacific Gold, Medici, and Macone.
Current Chairman Nidarshana Udagagedara notes that they serve a loyal customer base, with complete groom’s suit packages ranging from Rs. 30,000 to Rs. 90,000. With a highly experienced team, they now offer an exclusive one-day service, allowing customers to have bespoke designs created to their exact specifications in record time.
Spanning seven decades, the Linton lineage, which has brought fame to Kandy, has now successfully expanded from the second generation to the third, ensuring that the master’s stitch continues to define elegance for years to come.
By S.K. Samaranayake
Business
LANKATILES Captivates Architect 2026 with a Spectacular Celebration of Fine Living
At the prestigious Architect 2026 Exhibition, LANKATILES unveiled an immersive Concept Studio of contemporary design, where every surface spoke in allusive ways of exquisite craftsmanship and architectural vision.
Among a host of outstanding participants, the Concept Studio was recognized with two of the exhibition’s highest accolades: Overall Best Stall and Best Trade Stall Displaying Local Products. This is a resounding testament to five decades of trust, quality, and innovation.
The Concept Studio was thoughtfully zoned to evoke the ambiance of curated interiors and sophisticated entryways, unveiling the latest designs introduced to the market. Visitors were guided through a seamless spatial journey, beginning with the Living Zone, where expansive surfaces harmonized durability with refined design to elevate everyday living. The Kitchen Ambience Zone presented a contemporary culinary environment enriched with elegant finishes, demonstrating how functionality and elevated aesthetics coexist in modern homes.
The experience continued into the Bedroom Zone, an intimate and serene setting curated with soothing palettes and luxurious surfaces to create a tranquil retreat defined by comfort and understated elegance. Complementing this was the Bathware Zone — a sanctuary of calm showcasing precision-crafted porcelain surfaces that seamlessly blended purity of form with superior performance, redefining modern bathroom sophistication.
Extending beyond interiors, the Poolside Zone highlighted elegant outdoor settings framed by resilient, high-performance tiles, where aesthetic excellence met enduring strength in expressive interpretations of contemporary luxury. Featuring the latest Mosaic designs alongside the grand large-format tile series, Majestica, each zone illustrated how LANKATILES transforms raw materials into architectural poetry, reinforcing its leadership in innovation and design excellence.
Another defining feature of the Concept Studio was the AI-powered Tile Visualizer; an advanced digital interface designed to offer architects and homeowners an intelligent and immersive visualization experience that redefines the way interiors are selected and conceptualized. Within minutes, users can upload an image of their dream space and instantly explore precisely matched tile designs and colour palettes tailored to their aesthetic preferences.
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