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Sampath Bank recognised for its strengths across diverse parameters

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Nanda Fernando, Managing Director of Sampath Bank PLC

Looking back at its performance, Sampath Bank noted with pride that it was able to maintain its strengths across diverse parameters, as evidenced by the variety of local and international awards won.

The Bank was able to improve its ranking on many of the corporate leaderboards it was recognised on. In addition to constantly being recognised for its financial prowess, the bank continued to improve in terms of respect from other corporate peers as well as in its perceived value, two non-financial attributes that are crucial, yet extremely challenging to achieve during ordinary times, much less in times of such adversity.

The bank also saw its asset base cross the Rs. 1 trillion mark in 2020, a feat achieved by very few players in the industry. Sampath Bank achieved this milestone in a record 33 years, becoming the youngest bank in Sri Lanka to do so.

Given the volatile market conditions experienced during the past one and a half years, these achievements are a true testament to the strength and stability of Sampath Bank, its resilience and adaptability and the confidence placed in it by investors and customers alike.

“Right from our inception, we have strived to constantly innovate, transforming the nation’s financial services landscape and delivering greater value to all our stakeholders. Helping us earn the trust of our customers and shareholders, our efforts in this regard have been instrumental in shaping our financial success. They also continue to bring us ever more awards and accolades, both at home and around the world,” said Nanda Fernando, Managing Director of Sampath Bank PLC. “On behalf of all of us at Sampath Bank, I would like to thank the nation for their love, respect and support, especially during these turbulent times. We look forward to continuing to serve them and add more value to their lives in the years to come.”

Sampath Bank was rated amongst the Most Admired Companies of Sri Lanka by the International Chamber of Commerce of Sri Lanka (ICCSL), the Chartered Institute of Management Accountants (CIMA) and the Daily FT. The Bank is one of only 5 companies to receive an Honorable mention at the annual Most Admired Company Awards for the financial year 2019/20. The coveted award recognises companies, both listed and unlisted, that are a cut above the rest in terms of not just their financial performance but also the value they create for their shareholders, customers, employees and the wider community in general.

The Bank continued to hold its position in the top 10 line up in the 27th edition of the LMD 100, Sri Lanka’s pioneering listed company rankings for the financial year 2019/20. Sampath Bank was placed 5th in profitability and 6th in turnover in the latest edition of the ranking.

According to LMD’s Brands Annual publication for the year 2020, Sampath Bank emerged as the ‘Most Loved Brand’ in the Banking category and was the only bank to feature among the Top 10 ‘Most Loved Brands,’ while it was also ranked 5th in the ‘Most Valuable Consumer Brands’ category, up 2 places from last year. In the list of ‘Most Respected’ Entities in Sri Lanka the bank rose 2 spots to 6th place, while it also moved up one place to 4th on the Business Today Top 30.

In terms of international recognition, Sampath Bank was acknowledged as Sri Lanka’s ‘Best Retail Bank’ and ‘Best Commercial Bank’ for the 7th consecutive year, at the World Finance Banking Awards organized by the UK based World Finance magazine, making it the only Sri Lankan bank to be recognized at this year’s edition and the only bank in the country to have received both these awards every year since 2014. The Banker Magazine also ranked it among the ‘Top 1000 World Banks,’ an adjudication made primarily based on Tier-one capital.

Recognition such as this further underscore Sampath Bank’s strong financials including steady profitability growth and healthy liquidity levels, as well as its steadfast commitment to customer service and innovation, as it looks optimistically towards the future.

Sampath Bank is a 100% local bank that has deeply rooted itself in the lives of the people of Sri Lanka. Established in 1987, the bank has become a state-of-the-art financial institution that continues to be a market leader today thanks to its constant innovation and customer focused approach to business. It has introduced many firsts to the Sri Lankan banking sector including introducing ATMs to Sri Lanka, extended banking hours and slip-less banking to name a few. The Bank continues to steadily transform itself into a technology-driven financial services provider while upholding our traditions and values.



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Business

EU’s new anti-greenwashing rules pose major challenge for Sri Lankan exporters

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This new directive applies to businesses across multiple sectors, of any size, that export products or services to the EU market.

Countdown to September 2026 begins

Sri Lankan exporters selling into Europe may soon face one of the most significant regulatory shifts in recent years as the European Union prepares to enforce sweeping new rules aimed at eliminating ‘misleading’ environmental and sustainability claims.

The regulation, known as the Empowering Consumers for the Green Transition Directive (EmpCo) – Directive (EU) 2024/825, will become fully enforceable across all EU member states from September 27, 2026. While the directive is primarily designed to protect European consumers from so-called ‘greenwashing,’ and it carries important implications for exporters worldwide, including those in Sri Lanka.

Compliance experts warn that many local businesses remain largely unaware of the new requirements despite their potential impact on market access, brand reputation, and regulatory compliance.

The directive introduces a simple but demanding principle: companies must be able to substantiate environmental and sustainability claims with credible evidence. Generic descriptions such as ‘eco-friendly,’ ‘green,’ ‘sustainable,’ ‘responsible,’ ‘carbon neutral,’ or ‘climate friendly’ may no longer be used freely unless they can be verified through reliable data and supporting documentation.

For Sri Lankan exporters, this represents a significant shift. Sustainability claims increasingly appear on product packaging, websites, social media campaigns, annual reports, tourism marketing materials, and corporate communications. Under the new framework, such claims could face scrutiny from regulators, consumers, retailers, and civil society groups.

The directive also places particular emphasis on future environmental commitments. Claims such as ‘Net Zero by 2040’ or ‘Carbon Neutral by 2030’ may require businesses to demonstrate clear implementation plans, measurable milestones, and systems for monitoring progress rather than relying on aspirational statements alone.

An environmental compliance expert told The Island Financial Review that this transforms sustainability from a communications exercise into a governance issue. “Responsibility will no longer rest solely with sustainability departments. Company directors, senior executives, marketing teams, procurement professionals, and compliance officers will all have roles to play in ensuring that public claims can withstand regulatory scrutiny. The potential costs of non-compliance are considerable. Under the directive, penalties may include fines of up to four percent of annual turnover generated within the relevant EU member state, restrictions on marketing activities, increased regulatory investigations, and challenges from consumer organisations and commercial partners.”

“The reputational consequences may prove even more damaging. In highly competitive export markets, trust has become a critical business asset. Companies found to be making unsubstantiated environmental claims could face long-term damage to relationships with buyers, retailers, and consumers.”

“The timing is particularly important for Sri Lankan businesses because compliance preparations, reporting frameworks and adjustments are needed before the enforcement date arrives.”

“Businesses supplying European markets are therefore being encouraged to begin assessing their exposure now rather than waiting until the last minute. Early preparation could help exporters safeguard market access, maintain buyer confidence, and strengthen their competitive position in an increasingly sustainability-conscious global economy.”

“For Sri Lanka’s export sector, the message from Europe is becoming increasingly clear: sustainability claims will no longer be judged by how compelling they sound, but by how convincingly they can be proven,” he said.

As the countdown to September 2026 begins, exporters may need to ask themselves a critical question: Are their sustainability claims ready for a new era of accountability?

By Sanath Nanayakkare

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University of West London opens Sri Lanka’s first full UK university branch campus

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The official signing ceremony between the University of West London, UK and ANC Education.

The University of West London (UWL) has formally opened the University of West London Sri Lanka Branch Campus, the country’s first full UK university branch campus, marking a landmark development in Sri Lanka’s higher education sector.

The University of West London Sri Lanka Branch Campus is designed to bring a UK university learning experience closer to students in Sri Lanka. The campus is operated by ANC Campus, a pioneer in the higher education sector in Sri Lanka with over two decades of experience in delivering internationally recognised education.

The University of West London Sri Lanka Branch Campus gives students the opportunity to study towards world-class UK degrees while remaining close to home. Academic delivery, assessment and quality assurance will be aligned with University of West London standards, with the University maintaining academic oversight of its courses and awards. Students will have access to UWL-approved programmes, academic support, learning resources and a campus environment designed to promote academic success, confidence and employability.

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Xiaomi Store powered by Abans opens at One Galle Face Mall

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Xiaomi Sri Lanka, marked a significant day in the brand’s local journey with the launch of the all-new Xiaomi 17T and the grand opening of the new Xiaomi Store powered by Abans at One Galle Face Mall, Lower Ground.

This occasion reflects the brand’s growing presence in the country and its commitment to bringing smarter technology, connected devices and immersive customer experiences closer to Sri Lankan consumers.

Held under the theme “Step into a smarter world with Xiaomi,” the launch event welcomed media, partners, technology enthusiasts and customers to experience Xiaomi’s latest innovation and wider smart ecosystem. The new store at One Galle Face Mall powered by Abans has been designed to give customers a hands-on experience across Xiaomi smartphones, smart home products, lifestyle technology and connected devices, supported by Abans’ strong retail presence and customer service network.

Commenting on the milestone, Kain Wang, Country Head, Xiaomi Sri Lanka, said, “17th June is a significant day for Xiaomi in Sri Lanka as we celebrate two important milestones together: the launch of the Xiaomi 17T and the opening of our new Xiaomi Store powered by Abans at One Galle Face Mall. This reflects the strength of Xiaomi’s journey in Sri Lanka and our continued commitment to offering innovation, performance and smarter lifestyle experiences to local consumers. With Xiaomi 17T, we are bringing advanced Leica imaging, powerful performance and long-lasting battery life to users who want to do more with their smartphones. At the same time, our new store creates a dedicated space for customers to experience the Xiaomi ecosystem in a more personal and engaging way.”

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