Business

Sampath Bank continues to ramp up efforts to protect the environment

Published

4 years ago

2022/01/3

As the world continues to grapple with a multitude of environmental issues caused by irresponsible consumption and ecological degradation, businesses have stepped in to play a greater role in protecting the environment. Enterprises are working closely with governments, business partners, customers, and all other stakeholders on developing business models that are good for the environment, the society, and their bottom line. Sampath Bank is one such responsible enterprise that has continued to champion the cause of the environment.

Right from its inception, sustainability has been one of the key priorities for the Bank which has always adopted an environmentally friendly business model by leveraging emerging technologies.

Sampath Bank’s continued investments in the digitalization of its core operations are one of the key drivers of its sustainability efforts. Over the years, the Bank has introduced several pathbreaking digital solutions such as Sampath Vishwa, Payeasy, WePay and Slip-less Banking, to the market. Transforming the way businesses and consumers access financial services, they have helped more Sri Lankans gain access to these services. At the same time, they have also played a significant role in helping protect the environment by enabling the Bank, its customers and business partners to cut down on their environmental footprint.

The Bank’s commitment to the environment extends to its business dealings too. Serving as an active partner of the country’s Non-Conventional Renewable Energy (NCRE) sector, Sampath Bank has offered financing for several renewable energy projects around the island.

Taking a hard look at every element of its operations, Sampath Bank strives to continuously identify more ways in which it can minimize its impact on the environment. The Bank has been scaling up the deployment of energy efficient lighting and air conditioning solutions to drive energy efficiency and reduce its energy consumption levels. Simultaneously, Sampath Bank has also been diligently looking at using alternative sources of energy for powering its operations. The Bank embarked on a solar migration project in 2016 and has rolled out rooftop solar systems across several of its branches.

The Bank is well aware of the fact that the things that get measured, get done. Hence it tracks its environmental performance and benchmarks its progress against peers. Sampath Bank monitors its Carbon Footprint closely and measures its direct and indirect emissions using the Greenhouse Gas (GHG) protocol. Captured in the Bank’s annual Greenhouse Gas (GHG) emissions inventory report, this data helps it strengthen its carbon management strategy and pursue new opportunities for carbon reduction.

“Sri Lankan society has always placed great emphasis on living in harmony with nature. Conserving natural resources and protecting the environment has been an integral part of our culture. Being a responsible enterprise that takes great pride in its Sri Lankan roots, Sampath Bank remains committed to championing environmental sustainability through our eco-conscious business model as well as our continued investments in energy conservation and environment-centred CSR initiatives. In light of the rising concerns around global warming and other environmental issues, we are expanding the scope and scale of our sustainability and community outreach efforts to have a greater positive impact on both society and the environment. We will continue to engage with all stakeholders to present a better future for all Sri Lankans,” said Nanda Fernando, Managing Director, Sampath Bank PLC.

Going beyond its business activities, Sampath Bank has been investing heavily on the environment through its strategic corporate social responsibility initiatives as well.

Sampath Bank has always taken great pride in Sri Lanka’s heritage and is hence well aware of the significance of the country’s network of inland tanks or ‘wewas’, built eons ago by our kings. Serving as the principal source of water for irrigation and domestic use in the country’s dry and intermediate zones, the tanks also support rich ecosystems made up of countless plants, animals and insects around them. The Bank has been restoring dilapidated tanks through its flagship CSR program, ‘Wewata Jeewayak’. To date, 10 tanks have been renovated under the project, and work on 3 more tanks is currently underway. Ensuring a continued, reliable supply of water for families engaged in farming and other related activities, the restoration of these tanks also nourishes the ecosystem intrinsically linked to it, thereby helping conserve and nurture the region’s biodiversity.

The Bank is also involved in a 5-year project together with Biodiversity Sri Lanka to restore ten hectares of degraded forest land in the Halgahawala Forest Reserve in Opatha, Galle. The International Union for Conservation of Nature (IUCN) and the Forest Department of Sri Lanka are offering technical assistance to the program which is aimed at increasing the number of plants in the area from 9,000 to 30,000. A plant nursery consisting of 4,500 plants has been set up to nurture a variety of species.

In addition to these programs, Sampath Bank has been supporting the Wildlife and Nature Protection Society (WNPS) of Sri Lanka’s conservation efforts for over 27 years. The Bank has been contributing a sum of Rs. 5/- to the Society for every new Sampath Debit Card issued.

The Bank also engages with school children through its Gasai Mamai Pubudu Potai initiative, aimed at encouraging young Sri Lankans to be more environmentally conscious. Under this unique program, Sampath Bank offers fruit saplings to children in primary schools. These saplings are planted within the school premises and the children are entrusted with the task of caring for them till they grow into fruit bearing trees.

Thus, with everything from its core operations to community outreach efforts being focused on protecting the environment, it is evident that Sampath Bank truly does have the environment at the heart of its business.

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Business

New policy framework for stock market deposits seen as a boon for companies

Published

12 hours ago

2026/01/14

Sahan Weerasooriya

Eardly Kern: ‘CSE experiencing strong revival

The government’s new policy framework to allocate a maximum interest rate for stock market deposits would pave the way for companies and investors to plan their future business activities, a senior stockbroker said.

‘Accordingly, the Colombo Stock Exchange (CSE) has entered a period of strong revival, supported by economic stabilization and rising investor confidence while significant market reforms would support the new policy framework on interest, Assistant Vice President Softlogic Stockbrokers, Eardly Kern, told The Island Financial Review.

He said that the imposition of maximum interest rates for stock market deposits would prevent the interest rates from moving upwards, thus paving the way for investors to invest in stocks with a lot of confidence.

Kern added: ‘The CSE outlook would provide expanding opportunities for investors as Sri Lanka positions itself for market-led investor platforms.

‘Improving macro fundamentals, such as lower interest rates, rising corporate earnings and historically attractive valuations, have been key catalysts in driving investment into the equities market.

‘These tailwinds, together with ongoing economic reforms, have helped re-establish confidence among both local and foreign investors.

‘Over the past two years, the number of CDS accounts has surpassed 949,000, with digital on-boarding through the CSE mobile app driving the latest surge.

‘Further, foreign inflows for 2024 amounted to USD 66.5 million, while Rs 175 billion was raised through capital market activity, including 16 new listings. With a target of 20 IPOs on the horizon, the CSE anticipates several new companies entering the market by early 2026.

‘The All Share Price Index (ASPI) delivered an impressive 49.7 percent return in 2024, ranking the CSE as the second-best performing market in Asia for the year. By November 2025, the index had risen a further 45.65 percent amounting to an extraordinary two-year return of approximately 95 percent.

‘The S&P SL20 Index recorded a parallel recovery, gaining 58.5 percent in 2024 and 31.84 percent so far in 2025.

‘ Despite the rally, the CSE continues to trade below its 10-year average PER and valuations remain significantly more attractive than in regional markets, such as, India, Malaysia, Vietnam, and China.

‘ Turnover has surged to Rs 1.06 trillion in 2025 (as of mid-November), nearly doubling the figure recorded in 2024. Market capitalization grew 34 percent n 2024, despite only around 40,000 active investors capturing most of the gains—highlighting the potential for broader participation.

‘ Corporate earnings have also strengthened markedly. After generating Rs 686 billion in earnings during 2024—a 50% year-on-year increase—listed entities are projected to deliver between Rs 775–800 billion in 2025. Earnings for the first half of 2025 have already grown 57 percent year-on-year.’

By Hiran H Senewiratne

Business

Dialog reinforces commitment to heritage through Kelaniya Duruthu Festival

Published

12 hours ago

2026/01/14

Sahan Weerasooriya

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has reinforced its enduring commitment to preserving national culture by sponsoring the Kelaniya Duruthu Festival, aligning long standing patronage with purposeful community engagement to honour religious heritage, support cultural continuity, and strengthen shared values.

The annual Kelaniya Duruthu Festival, one of Sri Lanka’s most significant religious and cultural observances, was held on 8th, 9th and 11th January 2026, marking a congregation of thousands of devotees and visitors at the historic Kelaniya Raja Maha Vihara. As a long-term patron, Dialog continues to provide sponsorship support, enabling the seamless organisation of the festival while uplifting traditions deeply rooted in the nation’s cultural identity.

Through its continued support of the Kelaniya Duruthu Festival, Dialog underscores its role as a responsible corporate citizen dedicated to safeguarding Sri Lanka’s cultural and religious heritage for future generations. This commitment is further reflected in Dialog’s long-term patronage of national events such as the Kandy Esala Perahara, Nawam Maha Perahara at Gangaramaya, Katharagama Esala Perahara and Gatabaru Esala Perahara. Complementing these efforts, Dialog has also undertaken heritage preservation initiatives including the construction of the vestibule at Dimbulagala Aranya Senasanaya, the launch of a website and directory of Amarapura Maha Nikaya Temples, and the restoration of the Anuradhapura Maha Vihara Sannipatha Shalawa.

Business

Sri Lanka launches its first-ever Smart Bus Ticketing System

Published

12 hours ago

2026/01/14

Sahan Weerasooriya

Advancing public transport with digital bus ticketing — CBA, in partnership with SLTB and Nimbus Venture.

A National Breakthrough in Public Transport Digitalization Powered by Ceylon Business Appliances with Nimbus Ventures.

Sri Lanka has taken a historic step forward with the launch of its first Smart Bus Ticketing System, enabling passengers to pay fares using contactless cards, digital wallets, and QR payments. This advancement places the country among global leaders in smart mobility.

The initiative was made possible through collaboration with the Government of Sri Lanka, leading banking partners, and the technology leadership of Ceylon Business Appliances (CBA) and Nimbus Ventures, who serve as the Technology, Software, Hardware, and Operational Partners behind the nation’s first Open Loop Transit Payment System.

For decades, CBA has been at the forefront of Sri Lanka’s digital transformation efforts—bringing modern, global-standard technologies that have strengthened the nation’s digital infrastructure.

Speaking to the media at the launch, Sardha Fernando, Managing Director of CBA, stated:

“This is not just a ticketing upgrade—it is a complete digital evolution of public transport in Sri Lanka. For years, CBA has been committed to introducing advanced technologies to the country, and today, we are proud to bring a globally recognized, secure, and seamless smart transit solution to our people. With every tap, we are enabling convenience, transparency, and a more connected future for all Sri Lankans.”

He added:

“This milestone reflects our ongoing mission: to help build a digitally empowered Sri Lanka that is ready to embrace the technologies shaping the world.”

‘Ruwath Fernando, CEO/Director of CBA, highlighted:

“This project demonstrates that Sri Lanka is ready to adopt and operate on par with global smart mobility technologies. Our commitment has always been to bring the world’s best software systems and innovations into Sri Lanka—solutions that are secure, scalable, and built to international standards.”

He continued:

“By introducing a state-of-the-art open-loop transit payment platform, we are proving that Sri Lanka can not only embrace but also successfully operate advanced digital ecosystems. This is a defining moment in positioning the country as a technology-proof nation prepared to trial and adopt global digital advancements.”

CBA extends heartfelt congratulations to the banking partners who trusted this vision—

Sampath Bank, Commercial Bank, Bank of Ceylon, People’s Bank, and DFCC Bank— on the successful launch of their new ticketing application.

This application integrates seamlessly with the PAX A910S ticketing device, powered by a robust CBA– Nimbus ventures software solution, engineered for scale, reliability, and national deployment..