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From national pillar to modern tower: People’s Bank enters new era

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Governor of the Central Bank, Dr. P. Nandalal Weerasinghe inaugurates the new iconic head office of the ‘People’s Tower,’ on Oct. 7, along with People’s Bank Chairman Prof. Narada Fernando and CEO /General Manager, Clive Fonseka

In a ceremony that marked not just the opening of a building but the celebration of a national financial institution, the People’s Bank inaugurated its new iconic head office, the ‘People’s Tower,’ on Oct. 7, signaling a bold new chapter in its 64-year journey of service and resilience.

The grand opening, held at the new address in Union Place, Colombo 2, was graced by the Governor of the Central Bank, Dr. P. Nandalal Weerasinghe, and the Secretary to the Treasury, Dr. Harshana Suriyapperuma, underscoring the building’s significance as a national financial landmark.

Beyond the steel and glass of the 22-storey, environmentally sustainable ‘green building,’ the event was a powerful testament to the Bank’s deep-rooted connection with the citizens of Sri Lanka.

The Bank’s Chief Executive Officer/General Manager, Clive Fonseka, used the occasion to paint a vivid picture of the bank’s pervasive role in the national economy. He revealed stunning statistics that bring its mission to life: “Accordingly, 7 out of 10 people in the country carry out transactions with the People’s Bank,” he told the gathered dignitaries, which included Chairman Prof. Narada Fernando and the Bank’s board.

Fonseka elaborated on the Bank’s reach, noting that its digital services have penetrated far beyond the capital. “By now, about 80 percent of the Bank’s digital transactions are carried out outside of the Western Province,” he said, highlighting its national digital footprint.

Furthermore, he revealed that one-fifth of the people and entities in the country have obtained loans from the People’s Bank. “That is a speciality for the Bank,” Fonseka stated with pride.

The CEO’s address also shone a light on the Bank’s critical role as a stabilising force during the nation’s most challenging periods. He recounted how the bank collaborated with the people during the COVID-19 pandemic and the subsequent economic crisis.

“During the economic crisis, the Bank provided the largest contribution in facilitating the importation of the essential fuel, petroleum products, coal, pharmaceuticals, and fertilizer,” Fonseka said, acknowledging the immense challenges the institution faced in 2022-2023 as a result of that.

“It was through unstinting resilience and support of the staff, the Bank has now achieved a top spot in the country’s banking sector, standing strong in profitability, liquidity, and capital strength,” he noted.

The new ‘People’s Tower’, which replaces the head office inaugurated in 1977, is a manifestation of this strength and ambition. The state-of-the-art facility, complete with an auditorium, training college, cafeteria and a new Union Place branch, is designed to be a crucial financial centre for the entire country.

Envisioning the tower as a launchpad for future excellence, he went on to share a key insight from his experience: “No matter how many new services are introduced or new technology is deployed, any bank can gain a period of six months to one year in exceeding competency over other banks. So, I am convinced that only a seamless banking experience is the only way to achieve operational excellence and retain people’s trust in the long term.”

Looking ahead, he outlined a competitive and people-centric vision. “Our objective is to compete fiercely with the public sector and private sector banks and exceed their performance and provide an unparallel service to the people,” Fonseka declared, emphasizing that this forward journey would be powered not just by the bank’s size or its state ownership, but by its human resource and premium service.

With the inauguration of the new ‘People’s Tower’ and assets exceeding Rs. 3.7 trillion, the People’s Bank is positioned like never before. The challenge now, however, is to ensure this scale translates into genuine support for people and small and medium enterprises, finally unlocking the transformative growth they have been waiting for.

By Sanath Nanayakkare



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USD 50 mn battery storage investment expected to power SL’s renewable energy push

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Arrival of the Battery Energy Storage System

Sri Lanka has taken a major step towards modernising its power infrastructure with the arrival of the country’s first commercial-scale Battery Energy Storage System (BESS), part of a USD 50 million investment expected to transform the integration of renewable energy into the national grid.

The first shipment of battery units arrived at the Port of Colombo recently for the landmark Galle and Matara BESS projects being developed by Galilee BESS (Pvt) Ltd, a subsidiary of KHEN Energy Limited. The projects are expected to play a pivotal role in enhancing grid stability, reducing renewable energy curtailment and strengthening the country’s energy security.

The shipment comprised 25 containers, including 18 battery units weighing 42 metric tonnes each, making it one of the largest and most technically demanding renewable energy cargo movements handled in Sri Lanka to date.

Energy industry officials describe the project as a milestone investment that will help bridge one of the biggest challenges facing renewable energy development—storing electricity generated from intermittent sources such as solar and wind power for use when demand peaks.

Once operational, the BESS facilities will support the National System Operator by absorbing excess renewable energy during periods of high generation and releasing it when required, thereby improving efficiency and reliability across the power network.

The technology is being supplied by global energy storage leader Sungrow Power Supply Co., Ltd., reflecting growing international confidence in Sri Lanka’s renewable energy sector and its long-term clean energy ambitions.

Beyond its energy significance, the project also highlights the increasing scale and sophistication of infrastructure investments entering the country.

Expolanka Freight (Pvt) Ltd was entrusted with the end-to-end logistics operation, overseeing customs clearance, specialised transportation, storage, unloading and final placement of the battery units at the project sites.

Finance and Project Director Fazul Ansar said the operation required extensive engineering studies, route assessments and rigorous safety planning owing to the hazardous classification and extraordinary weight of the cargo.

Head of Project Logistics Mohamed Niyas said months of preparation had gone into route surveys, lifting studies and risk mitigation planning to ensure the successful execution of the project.

Project officials said specialised multi-axle trailers and cranes with lifting capacities ranging from 100 to 150 tonnes were deployed for the operation, while access modifications and last-mile transport solutions were implemented at both project locations.

By Ifham Nizam

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AI and Data Analytics Summit 2026 drives the nation’s digital future

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Deshan Liyanage / Ransith Fernando / Prof. Lasith Gunawardena

The AI and Data Analytics Summit 2026 organised by the Sri Lanka Section of BCS, the Chartered Institute for IT was successfully held on 22nd May 2026 at Waters Edge, Colombo. The high-impact summit themed “Next Generation AI & Data Analytics: Skills & Thoughts for the Intelligent Future” brought together senior policymakers, global technology experts, industry leaders, academics, and innovators to explore how Artificial Intelligence (AI) and Data Analytics are reshaping the nation’s digital and economic future.

The event, endorsed by the Ministry of Digital Economy, was graced by Waruna Sri Dhanapala, Secretary to the Ministry of Digital Economy, who attended as the Guest of Honour, underscoring the government’s strong commitment to advancing AI adoption, digital innovation, and data-driven governance in support of Sri Lanka’s broader public sector transformation agenda. Dr. Sadeep Jayasumana, Chief Scientist at Octave, delivered the keynote address on Generative AI, sharing insights into its transformative potential.

Speaking on the significance of the summit, Prof. Lasith Gunawardena, Chairman the Sri Lanka Section of BCS, the Chartered Institute for IT noted that Artificial Intelligence and Data Analytics have become present-day enablers of innovation, economic growth, and societal progress. He emphasized that the summit was guided by BCS’s purpose of Making IT Good for Society and by the national need to bring together thought leaders, practitioners, policymakers, and industry experts to foster collaboration, knowledge sharing, and the responsible adoption of transformative technologies, thereby strengthening Sri Lanka’s digital readiness and supporting a resilient, inclusive, and globally competitive digital economy.

Ransith Fernando, Chair of the summit mentioned ” This year’s summit brought together 21 speakers who shared valuable insights, ideas, and experiences. We heard inspiring success stories, gained practical knowledge from industry practitioners, and explored strategic perspectives from business leaders. These conversations highlighted both the opportunity and the responsibility before us. While innovation is accelerating globally, Sri Lanka must align policy, talent, and industry readiness to truly operationalize AI at scale and ensure an inclusive and sustainable digital transformation.”

Deshan Liyanage, Co-Chair of the AI and Data Analytics Summit 2026 commented that this year’s summit was a fully sold-out event, reflecting the growing national momentum around Artificial Intelligence and Data Analytics in Sri Lanka. He extended heartfelt gratitude to all participants who joined and contributed to the success of the summit, as well as to the sponsors whose support made the event possible. Special appreciation was conveyed to Sysco LABS as the Strategic Partner, Linear Six as the Bronze Partner, InTalent Asia as the Resource Partner, and Motivista as the Event Partner. He also acknowledged the valuable collaboration of industry associations including SLASSCOM, FITIS, and CSSL, whose partnership helped strengthen and elevate the initiative.

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Eswaran Brothers empowers women through a transformative leadership journey

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Participants of Eswaran Brothers Exports’ She Transforms leadership development programme

As part of its commitment to advancing women’s empowerment and building a stronger leadership pipeline, Eswaran Brothers Exports (EB), a leading tea manufacturer in Sri Lanka, launched its flagship women’s leadership initiative, She Transforms, a customized six-month leadership development journey. Developed with award-winning leadership expert Senela Jayasuriya and supported by Value for Women, the programme forms a key pillar of the Company’s wider gender agenda focused on leadership capacity building, inclusion and long-term institutional change.

Women make up 44% of Eswaran Brothers’ workforce, yet only 23% held senior roles at the time of an initial gender diagnostic conducted with Value for Women and supported by FMO, the Dutch Development Finance Bank. The assessment found that despite their potential, many women faced unclear career pathways and limited structural support at critical life stages.

In response, Eswaran Brothers introduced strategic mindset and policy interventions designed to remove barriers and create a more enabling environment for women to grow and lead. These efforts included mentorship opportunities, enhanced support for employees returning from maternity leave, coaching for managers, and initiatives aimed at strengthening inclusion and career progression across the organization.

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