Business
People’s Bank shines with record-breaking number of awards in 2024
With an impressive array of national and international honors, People’s Bank has solidified its position as one of Sri Lanka’s most renowned and honored financial organizations in 2024. These esteemed honors bear witness to the bank’s steady expansion and its noteworthy contributions to consumer empowerment and the advancement of the national economy. Over the course of its 63-year history, People’s Bank has grown to serve over 15.2 million customers, accumulated consolidated assets of over Rs. 3 trillion and strengthened its online presence with 750 locations around Sri Lanka. This accomplishment demonstrates the bank’s dedication to offering small and medium-sized businesses (SMEs) and people a wide variety of banking services.
A significant turning point in People’s Bank’s digital transformation was reached when the bank was named Sri Lanka’s Best Digital Bank by the Euromoney Awards for Excellence 2024, one of the many esteemed accolades. Furthermore, People’s Bank was named one of the top 20 employers in the AICPA and CIMA Top Employers Awards 2024, demonstrating the company’s dedication to creating a positive work environment for its staff.
People’s Bank CEO/GM Clive Fonseka commented, “We are honored by these awards, they demonstrate the commitment of our staff and the confidence of our clients. These recognitions are indicative of our dedication to providing cutting-edge banking solutions that meet the needs of our clients and the country’s economic development. We will continue to be guided by our dedication to service excellence and our digital transformation.”
Additionally, People’s Bank established its leadership in efficient public sector management by winning multiple awards at the Best Management Practices Company Awards 2024, including in the Government, Semi-Government and Authorities Category and the Banking of Public Sector Category. The bank received multiple Merit Awards for excellence in customer convenience and financial inclusion at the LankaPay Technology Awards, including a Gold Award for the Most Popular Digital Payment Product (State Banks Category-Internet and Mobile Banking and the Best Common ATM Enabler of the Year – Category A award.
Having won Best in Banking and Excellence in Performance Management at the 2024 National Business Excellence Awards, People’s Bank further solidified its leadership in the banking industry. In addition, the bank received Merit Awards for its CSR initiatives and placed second in both Excellence in Local Market Reach and Excellence in Environmental Sustainability.
The bank’s commitment to consolidate its position as the Leader in digital banking resulted in several awards as well. At the Best Web Awards 2024, People’s Bank was granted the Silver Winner for Best Banking & Finance Website. Additionally, the bank received other awards from the Global Business Review Magazine Awards 2024, including Best Digital Banking Solutions Provider, Best Digital Wallet App for People’s Pay, Banking Service Provider of the Year, and Best Consumer Digital Bank, in recognition of its innovative digital offerings. The bank’s Credit Card Services, People’s Wave Mobile Banking App, Financial Inclusion Program, were also honored for their outstanding contributions to Sri Lankan customers.
Furthermore, the bank was recognized as one of the Most Outstanding Workplaces for Women in Sri Lanka 2024, Most Responsive Bank Sri Lanka 2024 and Most Sustainable Bank Sri Lanka 2024, reflecting its commitment to inclusivity, responsiveness, and sustainability. The bank’s Most Innovative Women Empowerment Initiatives in Banking were recognized by the Women’s Tabloid Awards 2024 and the AICPA & CIMA Satyn Women Friendly Workplace Award 2023. Additional recognition was given to the organization’s initiatives to advance equality and diversity in the workplace.
Also, among notable recognitions, People’s Bank was awarded the Best Integrated Report – Banking Sector (State) First Runner-Up at the CMA Excellence in Integrated Reporting Awards 2024. Furthermore, the bank secured the Bronze Award in the State Bank Sector at the TAGS Awards 2024, reflecting its exceptional transparency, governance, and reporting standards.
In addition to the individual accolades, People’s Bank received recognition for its digital marketing initiatives, taking home a Bronze Award for Best Use of Digital Creative Content at the Slim Digis 2.4 Awards 2024 and a Merit Award for its Purpose-Driven Digital Marketing Campaign.
Business
Cyber heist at External Resources Dept: Funds diverted in email hack, CID probe underway
A suspected cyber fraud targeting Sri Lanka’s Department of External Resources has triggered a high-level investigation after hackers allegedly manipulated official email communications to divert funds to unauthorised overseas accounts, Deputy Finance Minister Dr. Anil Jayantha Fernando said.
The sophisticated breach is believed to have involved the interception and alteration of email exchanges between the Department and Export Finance Australia, raising serious concerns over vulnerabilities in the Government’s digital financial communication systems.
According to the Deputy Minister, the fraud came to light following suspicious changes detected in bank account details linked to a payment transaction involving India. This anomaly prompted officials to scrutinise prior correspondence, eventually uncovering what appears to be a coordinated cyber intrusion designed to reroute funds.
“This was not a routine technical glitch. There is clear indication of external interference where communication trails have been tampered with,” Jayantha said, noting that complaints had already been lodged with law enforcement authorities.
“Investigations are now being handled by the Criminal Investigation Department (CID), which is probing the extent of the breach, the financial losses incurred, and the possible involvement of international cybercrime networks”.
Financial analysts warn that the incident underscores growing risks faced by state institutions engaged in cross-border financing arrangements, particularly when relying heavily on unsecured or inadequately protected communication channels.
The Department of External Resources plays a pivotal role in managing Sri Lanka’s foreign-funded projects and liaising with international lenders and export credit agencies. Any compromise in its communication systems could have far-reaching implications for investor confidence and the country’s financial credibility.
Authorities are expected to review existing cybersecurity protocols across key financial institutions in the wake of the breach, with calls mounting for tighter safeguards, encrypted communications, and multi-layer verification systems for fund transfers.
Meanwhile, officials remained tight-lipped on the exact quantum of funds involved, citing the ongoing nature of the investigation. However, sources indicated that the attempted diversion was significant enough to raise alarm at the highest levels of the Finance Ministry.
The incident adds to a growing list of cyber-related financial threats confronting governments worldwide, highlighting the urgent need for robust digital governance frameworks as Sri Lanka continues to engage with international financial partners.
By Ifham Nizam
Business
Sun Siyam Pasikudah marks the New Year at the shore of Sri Lanka’s rising coast
There is something about Avurudu that naturally fills every corner of Sri Lanka with energy and connection, and this year, that spirit extended to the shores of Pasikudah. At Sun Siyam Pasikudah, part of the Prive Collection within The House of Siyam, the Sinhala and Tamil New Year was celebrated on 14 April with a vibrant, full day programme that brought together guests and team members in true festive spirit, warm, lively, and centred around shared traditions and generous feasts.
The day followed the rhythm that Sri Lankan families know well. At the auspicious hour determined by the almanac for the New Year, the hearth at The Kitchen was ceremonially lit and the milk pot set to boil, symbolising warmth, unity, and the drawing in of abundance for the year ahead. This followed another auspicious moment at noon where a Traditional Sweet Table was laid out, where kiribath, kokis, kavum, aasmi and more were on offer, prepared by the resort’s culinary team and enjoyed by guests who had gathered, some for whom this was the most natural thing in the world, and others encountering the tradition for the very first time.
From 3:00 PM onwards, the afternoon opened into games. The resort grounds hosted the full run of Avurudu classics: Kana Muttiya (Pot Breaking), Kaba Adeema (Tug of War), Banis Kama (Bun Eating Contest), Balum Pipirawima (Balloon Blowing), Kotta Pora (Pillow Fighting), the Sack Race, Spoon Race, Blindfold Yogurt Feeding, Eyeing the Elephant, and Finding the Coin on the Plate. Guests of all ages joined in, and the kind of laughter that filled the afternoon is really the only way to describe what Avurudu at its best feels like.
“Avurudu is one of those occasions where the feeling in the air does all the work. The auspicious timings, the lighting of the hearth, the sweet table, the games in the afternoon: each of these carries its own meaning, and when you observe them properly and together, the day takes on a quality that is hard to replicate at any other time of year. We wanted our guests, wherever they had travelled from, to feel genuinely part of that, not simply watching from the outside. I think the day showed that Pasikudah is a place where that kind of celebration feels entirely at home,” said Arshed Refai, General Manager, Sun Siyam Pasikudah
The celebration is also a reflection of a broader moment for this stretch of the Sri Lankan coast. Pasikudah has long been known among those who seek it out: a bay of extraordinary calm and clarity, unhurried in a way that the island’s busier coastal destinations rarely are. What has shifted in recent years is that more people are finding it. Sri Lanka welcomed over 600,000 international visitors in the first quarter of 2025, generating tourism revenue of USD 1.025 billion, and the East Coast is increasingly part of that conversation. Sun Siyam Pasikudah has been central to placing Pasikudah on that map.
The resort’s 34 pavilions, offered in one and two bedroom configurations across garden and beach settings, are styled in a way that is quietly striking: monochrome interiors with warm golden accents, spacious and well-considered, always with the ocean close by. Dining is spread across The Kitchen, The Cellar, The Slice and Grill, The Tea House, and The Bar, with destination dinners available for guests who want a private evening under the stars. Sailing excursions along the coastline, spa and wellness, and encounters with local arts and crafts complete what Sun Siyam Pasikudah offers throughout the year.

Business
Allianz Avurudu Negam returns, easing the journey home
During the Sinhala and Tamil New Year, a time defined by togetherness, tradition and returning home, Allianz Insurance Lanka Limited once again stood alongside Sri Lankan communities by continuing its Avurudu Negam initiative for the second consecutive year, expanding its reach to support families during the festive travel period.
Building on the positive response to last year’s programme, Allianz Avurudu Negam 2026 was shaped to make the journey home special and loved during Avurudu. In response, Allianz offered ticket refunds to eligible passengers travelling on the Galu Kumari service from Maradana, supporting passengers journeying home to celebrate the New Year with loved ones.
Passengers boarding from Maradana and Fort and travelling beyond Galle up to Belliatta were eligible for the refund, helping make the journey home more affordable at a meaningful time of year. Acknowledging that financial strain frequently continues even after the celebrations conclude, Allianz extended the refund window until 30th April, easing the cost of returning to Colombo after Avurudu.
To complement this support, Allianz added a heartfelt touch rooted in New Year tradition. Traditional oil cakes were distributed to passengers boarding from Maradana, allowing families to take a familiar symbol of Avurudu back home and share it around their festive tables.
Allianz also prioritised protection during this period. Passengers eligible for the refund were given the option to obtain free Allianz Personal Accident Insurance, reflecting the belief that protection does not end with a journey, but continues wherever people go. In addition, these passengers were included in an LKR 1 million raffle draw, as an extension of the existing campaign, offering one winner shopping vouchers redeemable at outlets of their choice and support that extends beyond the New Year season.
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