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Forum addresses banks’ role in holding together a fragmented economy

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Left to Right: Manil Jayesinghe,Country Managing Partner | EY Sri Lanka, Arjuna Herath Senior Partner, Head of Consulting | EY Sri Lanka, Rajith Perera Partner, Financial Accounting Advisory Services | EY Sri Lanka, Saleem Malik Partner, Head of Turnaround, Restructuring and Portfolio Solutions | EY UK, Bogdan Ioan, Director, Turnaround, Restructuring and Portfolio Solutions | EY UK, Dr. Nishan De Mel, Executive Director, Head of Research | Verité Research Bingumal Thewarathanthri, CEO & Head of CCIB business | Standard Chartered Bank Sri Lanka, Jonathan Alles, Managing Director & CEO | Hatton National Bank

EY Sri Lanka successfully concluded its inaugural Sri Lanka Banking Conference themed “Surfing through the Crisis” on November 14, 2022. The event builds on a series of similarly themed sessions conducted by the firm over the past two years aiming to support the banking sector navigate through these challenging times.

The banking conference hosted the CEOs, CROs, CFOs, the chairperson of the Board Audit Committees, and the chairperson of the Board Integrated Risk Management Committees of Banks in Sri Lanka. Manil Jayesinghe, Country Managing Partner, EY Sri Lanka & Maldives launched the conference addressing the need for banks to be equipped for the difficult task of holding together a fragmented economy. He commented that banks must understand their customers and understand the cashflows of the customers to accurately evaluate their credit quality. Special units with specially trained and skilled officers should evaluate and decide the recoverability of the loans and take a decision post haste because NPL under an economic crisis will not cure as a function of time.

In his session on “Key Considerations for Credit and Liquidity Risk Management for banks”, Rajith Perera, (Partner | EY Sri Lanka, Financial Accounting Advisory Services) further stressed the importance of banks performing multiple scenario analysis on Non-Performing Ratio, the impact to its capital; understanding the level of risk tolerance in terms of credit risk, and working backward the NPA management strategy. The need for such scrutiny comes with the high propensity for NPLs to increase exponentially, even beyond the range of 15%, an all-time high for the country. The retail portfolio and SME portfolio which collectively contribute to more than 40% would be particularly vulnerable to these choppy economic waves.

Saleem Malik (Partner | EY UK, Head of Turnaround, Restructuring and Portfolio Solutions) together with Bogdan Ioan (Director | EY UK, Turnaround, Restructuring and Portfolio Solutions) in their technical session on Impact of the Debt Restructuring Process to the Financial Services Sector, and Non- performing resolution strategy built strong cases for consideration by referring to the Euro Zone debt crises of Greece and Cyprus. In their presentation they drew parallels to the Sri Lankan Crisis and valuable considerations for bank recapitalization, NPL Resolution and management strategies, liquidity support, and the importance of private sector involvement.

The Technical Sessions thus concluded, the stage was set for a lively discussion among the ‘Fire Side Chat’ panelists Bingumal Thewarathanthri (CEO, Standard Chartered Sri Lanka), Jonathan Alles (MD/CEO Hatton National Bank PLC), Dr. Nishan De Mel (Executive Director, Verité Research) and Manil Jayesinghe, moderated by Arjuna Herath (Senior Partner | Head of Consulting EY Sri Lanka). This unconstrained Q&A session discussed the economic revival curve that could be anticipated and the likely effects of inflation and interest rates in reviving the economy, the implications to the financial services sector of the potential budget proposals, the debt restructuring process and the NPL management strategies that banks would have to strategically implement.



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Asia-Pacific business leaders to accelerate sustainable business action

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More than 200 senior business leaders, policymakers, investors, sustainability practitioners and United Nations representatives convened in Colombo on 11–12 August for Forward Faster Now | APAC 2026: Driving Business Leadership for Sustainable and Inclusive Growth—the United Nations Global Compact’s flagship regional forum in Asia-Pacific.

Hosted by UN Global Compact Network Sri Lanka and organized by the UN Global Compact APAC Hub in collaboration with 14 Global Compact Country Networks, the forum strengthened regional collaboration and demonstrated the growing role of business leadership in advancing sustainable and inclusive growth across Asia-Pacific.

More than 80 high-level speakers from across the region contributed to the two-day programme, bringing together expertise from business, finance, government, the United Nations and civil society. The forum also convened an exceptional audience of CEOs, C-Suite, Board Directors, Heads of UN agencies and senior decision-makers, creating one of the region’s most significant platforms for cross-sector dialogue on sustainable business.

Across plenary dialogues, leadership panels and action-oriented workshops, participants explored the issues shaping the future of business in Asia-Pacific, including climate action, sustainable finance, gender equality, resilient supply chains, water stewardship, governance and integrity, digital innovation, human rights due diligence, circular economy solutions and ESG data for decision-making. Rather than focusing solely on ambition, Forward Faster Now challenged businesses to move from broad sustainability goals to target setting, practical decisions, stronger systems and action that can deliver progress at scale.

A defining milestone of the forum was the visit of Sanda Ojiambo, Assistant Secretary-General, CEO and Executive Director of the UN Global Compact. Her presence in Sri Lanka underscored the country’s growing role within the regional sustainability agenda and reinforced the importance of private sector leadership in delivering the Sustainable Development Goals.

Beyond the public programme, her visit included a series of bilateral engagements and strategic convenings with business and institutional leaders, deepening relationships and opening new avenues for engagement between the UN Global Compact and stakeholders in Sri Lanka.

The event also marked the launch of three significant initiatives by UN Global Compact Network Sri Lanka that will extend the impact of the convening well beyond the event itself. The Responsible Business Coalition was introduced as a new partnership to embed sustainability, and strengthen governance by bringing together Sri Lanka’s leading professional and industry associations to embed the Ten Principles of the UN Global Compact into their existing convening, training and thought-leadership channels, moving responsible business from a standalone function to a shared C-Suite and Board responsibility.

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Sri Lanka Insurance Corporation General celebrates ‘One Team, One Vision’ sales excellence at Annual Awards 2025

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The Sri Lanka Insurance Corporation General Ltd. (SLICGL) team gathered to honour its top-performing sales professionals at the Annual Sales Awards 2025, held under the theme ‘One Team, One Vision’ on 20th August at the Monarch Imperial.

The evening convened sales leaders and high achievers throughout the island to celebrate a year of sustained performance, customer trust, and commitment which has kept SLICGL at the forefront of Sri Lanka’s general insurance sector.

Affirming SLICGL’s appreciation for the people driving success on the ground, the Sales Awards 2025 recognised those who went beyond targets, deepened client relationships, and contributed directly to the company’s continued expansion.

The event drew an unprecedented audience of over 700 participants. This year’s celebrations recognised a record number of winners, more than double the achievements honoured last year covering a diverse range of award categories reflecting excellence at every level of the business.

Nusith Kumaratunga, Chairman, Sri Lanka Insurance Corporation graced the event as the Chief Guest together with the Board of Directors and senior management of SLICGL also present as invited guests, encouraging and commending the winners for their outstanding achievements.

The award winners at this year’s ceremony included Insurance Advisors, Marketing Executives, Branch Managers, Regional Managers, and members of the Head Office Sales Channels, who were recognised and celebrated for their outstanding achievements in multiple categories.

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Sri Lanka to host SEARIC Summit 2026 for the first time, welcoming over 500 youth leaders from across South East Asia

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(Left to Right: District Rotaract Representative of Sri Lanka and Maldives - PHF Rtn. Rtr. PP Dr. Jude Lucian, Chief Executive Officer of Destination Management Sector at John Keells Holdings PLC – Nalaka Amaratunga, SEARIC Summit Sri Lanka 2026 Chair – PDRR Akhila Wijetunga, Rotary District 3220 Governor of Sri Lanka and Maldives - Rtn. Kumar Sundararaj)

Sri Lanka is set to host the SEARIC Summit 2026 from 11 to 13 September 2026 at the Pegasus Reef Hotel, marking the first time the country will host the flagship regional gathering of the South East Asia Rotaract Information Centre (SEARIC).

Hosted by Rotaract in Rotary International District 3220 (RID 3220) – Sri Lanka & Maldives, the three-day summit is expected to bring together more than 500 delegates from six countries, creating a regional platform for leadership development, knowledge exchange, cultural understanding and collaboration among young leaders. The South-East Asia Rotaract Information Centre (SEARIC) serves as a regional platform connecting Rotaract districts across South East Asia. It facilitates collaboration, information exchange, cultural understanding and joint initiatives among Rotaractors across the region. The annual SEARIC Summit serves as the network’s flagship gathering, bringing together Rotaractors and Rotarians from participating countries for shared learning, fellowship, cultural exchange and collective growth.

Under the theme “The Role of Technology in the Future of Careers and Services,” SEARIC Summit Sri Lanka 2026 will explore the rapidly changing relationship between technology, careers, leadership and community service. As emerging technologies continue to transform industries and the way people work, the summit will provide a platform for young leaders to examine how technology can be used not only to prepare for the future of work, but also to strengthen the way communities are served. Across three days, delegates will participate in leadership and professional development sessions, discussions, cultural experiences, networking opportunities and community-focused programming, with the central theme reflected throughout the summit programme.

Beyond the Rotaract movement, the event also contributes to Sri Lanka’s broader positioning as a destination for international conferences, youth leadership programmes and regional collaboration. With hundreds of international delegates travelling to the country, the summit provides an opportunity to showcase Sri Lanka’s hospitality, culture and potential as a host destination for future international gatherings. The event further creates a platform for young leaders from across South East Asia to connect with Sri Lankan counterparts, exchange ideas and explore opportunities for cross-border collaboration.

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