Business
Sampath Bank continues to ramp up efforts to protect the environment
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.
The Ceylon Motor Traders’ Association (CMTA), established in 1919 is the most senior automotive association in Sri Lanka affiliated with the Ceylon Chamber of Commerce, is calling for greater consistency, transparency and fairness in the policies governing the country’s automotive sector, stressing that a sustainable vehicle import framework must ensure a level playing field across the entire industry.
The Association’s concerns come at a time when the automotive sector continues to operate under significant fiscal and regulatory pressures, with recent policy measures, including the introduction of a 50% surcharge on vehicles, adding further complexity to an already challenging market. While the CMTA recognises the Government’s need to manage foreign exchange, generate revenue and regulate vehicle imports responsibly, it believes that such measures must be structured in a manner that does not disproportionately disadvantage legitimate businesses or distort competition between different segments of the market.
At the centre of the Association’s concerns is the continued application of a blanket 15% depreciation on the Cost, Insurance and Freight (CIF) value of used vehicle imports for duty calculation purposes. The CMTA maintains that this mechanism creates an unintended advantage for certain used vehicle imports, particularly when vehicles entering Sri Lanka as used units can be virtually identical to brand-new vehicles in terms of model, specification and, in most cases, mileage.
The Association estimates that the existing depreciation mechanism resulted in approximately Rs. 40 billion in lost to government revenue in 2025 alone. Without corrective action, a similar level of revenue leakage could occur in 2026, representing a significant loss at a time when government revenue remains critical to strengthening public finances and supporting national development.
The issue, the CMTA emphasises, is not about restricting consumer choice or opposing the used vehicle market rather, it is about ensuring that vehicles entering the country are assessed fairly and consistently, based on their actual value and circumstances. When two substantially identical vehicles can attract different levels of taxation simply because one has been registered overseas before being imported, the Association believes the resulting disparity warrants policy reconsideration.
The CMTA argues that the same principle of fairness should also apply when considering the impact of newer fiscal measures, including the recent 50% surcharge. Such a substantial additional cost can have implications across the automotive value chain, affecting vehicle prices, consumer affordability, business viability and the broader ecosystem supporting vehicle sales and after-sales services.
Sampath Bank PLC announced the appointment of Dilip de S Wijeyeratne as Deputy Chairman, effective 10th September 2026, further strengthening the Bank’s leadership as it advances its strategic priorities and continues to evolve as a purpose-led, technology-enabled financial institution.
Wijeyeratne brings extensive experience across banking, finance, risk management and compliance, investment banking and treasury, complemented by a strong understanding of corporate governance, strategic planning and financial markets. His breadth of experience and forward-looking perspective will support Sampath Bank’s focus on translating purpose and strategy into sustainable growth, while advancing data-driven decision-making and the intelligent application of artificial intelligence across the organisation.
Wijeyeratne’s association with Sampath Bank spans nearly eight years. He joined the Bank as a Non-Independent, Non-Executive Director in November 2018 and was appointed an Independent Director in August 2019. He subsequently served as Senior Independent Director from May 2022 and continued as an Independent, Non-Executive Director from June 2026. He currently serves as Chairman of the Board Audit Committee and contributes to the Bank’s Sustainability, Human Resources and Remuneration, Treasury, Strategic Planning, Nominations and Governance, and Related Party Transactions Review committees.
A senior finance and banking professional and principal consultant,Wijeyeratne provides advisory services to organisations across the Middle East, Sri Lanka and Australia. His professional career includes senior roles with HSBC Group in Bahrain, where he held responsibility for finance and operations, global markets and treasury, corporate treasury sales and asset and liability management. He subsequently moved into entrepreneurship and advisory services, providing financial and strategic consultancy to private and public sector organisations.
In addition to his responsibilities at Sampath Bank, Wijeyeratne serves as Senior Independent Director of Singer (Sri Lanka) PLC and Hayleys Fibre PLC, and as an Independent, Non-Executive Director of Janashakthi Insurance PLC. His extensive governance experience across these institutions has provided him with broad exposure to financial oversight, risk, strategy and corporate governance.
Wijeyeratne is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka, a Fellow Member of the Chartered Institute of Management Accountants, UK, and a Graduate Member of the Australian Institute of Company Directors. His combination of financial expertise, governance experience and strategic insight positions him to make a significant contribution to Sampath Bank’s continued growth and transformation.
KOKO, Sri Lanka’s leading Buy Now, Pay Later (BNPL) platform, has partnered with Ceylinco General Insurance to introduce Sri Lanka’s first customised medical insurance offering designed exclusively around the needs of KOKO customers.
The partnership marks a first for Sri Lanka’s fintech and insurance sectors, bringing together Ceylinco General Insurance’s decades of expertise in health insurance with KOKO’s understanding of its customer community to create a medical protection solution built specifically for the digital lifestyle and financial needs of KOKO users.
Unlike a standard health insurance product adapted for a partner platform, this offering has been developed as a customised value package for KOKO customers, focusing on accessibility, affordability and ease of activation within the digital journey they already use. The policy provides medical insurance cover of up to USD 40,000, offering meaningful protection against hospitalisation, treatment costs and major medical expenses.
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