News
Sampath Bank and Ideal Motors Partner to Drive Affordable Vehicle Ownership in Sri Lanka
Sampath Bank PLC recently signed a Memorandum of Understanding (MOU) with Ideal Motors (Pvt) Ltd., an authorised distributor of Mahindra vehicles in Sri Lanka. The partnership aims to offer customers enhanced vehicle financing solutions and exclusive benefits that make vehicle ownership more affordable and convenient.
Through this collaboration, Sampath Bank will extend a range of financial privileges to customers purchasing Mahindra vehicles from Ideal Motors. These include a 0.5% per annum reduction in the published leasing interest rates, loans to cover vehicle insurance premiums with no interest if settled within two months, and Sampath Credit Cards with no joining fee, enabling customers to pay their insurance premiums at 0% interest for up to 12 months.
Commenting on the partnership, Deepal De Silva, Chief Operating Officer, Sampath Bank PLC, said, “This partnership represents our commitment to delivering practical financial solutions that support our customers’ lifestyle aspirations. The collaboration with Ideal Motors enables us to offer more accessible financing and flexible repayment options, empowering individuals and businesses to make confident vehicle ownership decisions. It also reflects our broader vision of being a trusted financial partner that continuously anticipates and responds to customer needs.”
Expressing her thoughts on the partnership, Nimisha Welgama, Director – Legal and Corporate Affairs, Ideal Motors (Pvt) Ltd., said, “We are pleased to collaborate with Sampath Bank to offer customers a selection of Mahindra vehicles complemented by attractive financing options, enhancing both value and the overall ownership experience.”
Established in 2009, Ideal Motors (Pvt) Ltd. is a leading Sri Lankan conglomerate with diversified interests in automotive, finance and related sectors. The company serves as the authorised distributor for Mahindra & Mahindra Ltd., India, offering import, distribution, aftersales and roadside assistance services across Sri Lanka.
The MoU between Sampath Bank and Ideal Motors brings together two trusted Sri Lankan entities, both deeply committed to delivering value-driven, customer-focused solutions that contribute to the country’s economic progress.
Prime Minister Dr. Harini Amarasuriya met with the Managing Director of the International Monetary Fund (IMF), Dr. Kristalina Georgieva, at Temple Tress on the 17th of February
Dr. Georgieva, commended the Government’s efforts in stabilizing the country’s economy and in managing recent economic and natural shocks. She noted that Cyclone Ditwah had caused severe impacts, especially on economically vulnerable communities, underscoring the importance of targeted support and resilience-building measures.
The Prime Minister expressed appreciation for the IMF’s continued support to Sri Lanka, particularly in the aftermath of Cyclone Ditwah. The PM further emphasized that real economic recovery and development must directly benefit the economically vulnerable groups and ensure inclusive growth, highlighting the need for Sri Lanka to attract quality and sustainable investments, particularly in the tourism sector.
The importance of reforming the education system to focus not only on knowledge acquisition but also on skills development and employability was also discussed
The meeting was attended by the Chief of Staff of the IMF Managing Director Andreas Bauer, Director, Asia and Pacific Department, Dr. Krishna Srinivasan Division Chief (Strategic Communications), Communications Department, Pierre Mejlak Resident Representative for Sri Lanka Dr. Martha Woldemichael, Governor of the Central Bank of Sri Lanka Dr. P. Nandalal Weerasinghe, and Deputy Governor Dr. C. Amarasekara, Secretary to the Prime Minister Pradeep Saputhanthri and Additional Secretary to the Prime Minister Ms. Sagarika Bogahawatta.
[Prime Minister’s Media Division]
The Cabinet of Ministers approved the resolution forwarded by the Minister of Health and Mass Media to relocate the Deniyaya Base Hospital after constructing a new hospital with a capacity of 300 beds at an estimated cost of Rupees 6,000 million.
The Southern Provincial Department of Health has acquired a plot of land in Handford estate which is approximately 03 kilometres away from the town for this purpose.
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