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Sampath Bank scores 9th consecutive win at World Finance Banking Awards

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The 2 awards won by Sampath Bank for the 9th consecutive year at the esteemed World Finance Banking Awards

Retains Status as Sri Lanka’s ‘Best Retail Bank’ and ‘Best Commercial Bank’

Sampath Bank PLC has been rated as Sri Lanka’s ‘Best Retail Bank’ and ‘Best Commercial Bank’ for the 9th consecutive year at the renowned World Finance Banking Awards ceremony hosted by the UK-based World Finance magazine.

Displaying the Sri Lankan flag prominently at this prestigious global forum where the Bank has been receiving both these tributes every year since 2014, Sampath Bank is the only bank from the country to be lauded at this venue this year, too.

The World Finance Banking Award is one of the most coveted accolades in the banking and financial services sector, globally. World Finance magazine–widely read and respected in the industry–has celebrated outstanding achievements, innovation and leadership since 2007, through these annual awards that rate banks’ excellence in numerous relevant criteria.

“It is a great distinction to be rated amongst the best banking and financial service providers in the world, and to maintain our position as the ‘Best Retail Bank’ and ‘Best Commercial Bank’ in Sri Lanka for the 9th straight year at the World Finance Banking Awards,” said Nanda Fernando, Managing Director, Sampath Bank PLC. “This is an unparalleled achievement made possible by the trust, support and endorsement of our customers, investors and business partners and by the entrepreneurial spirit and commitment to excellence of our team members. Awards such as this motivate us to recommit ourselves to deliver even greater value to our customers and stakeholders, as we continue to present their future.”

This recent recognition, one of innumerable awards and accolades bestowed on Sampath Bank, comes at a troubled time when Sri Lanka and the rest of the world is coping with a series of health, political and economic crises. The Bank has continued its steady rise on corporate leaderboards, earning several distinctions for both its strength and financial probity as well as the trust and respect it has earned from its customers and the industry at large.

Most recently, Sampath Bank was ranked as the country’s Most Loved Bank in the 2022 edition of the Brands Annual ‘Most Loved Brands’ listings, compiled by Brand Finance and presented by LMD. The Bank was also placed 11th in the overall ‘Most Loved Brands’ rankings. It stands out amongst FMCG giants as the only banking brand to be featured in the Top 15. The Bank was also ranked among the Top 10 ‘Most Valuable Consumer Brands’ for 2022.

Despite the contemporary obstacles faced by the banking sector in Sri Lanka, Sampath Bank has successfully maintained all its capital ratios well above regulatory requirements throughout 2021. With a total asset value of Rs. 1.2 trillion, this reflects strongly as an indication of the Bank’s stability. Meanwhile, its deposit book stood at Rs 978 Bn at the end of 2021, and continues to enjoy a year on year growth rate of 10.3%. All the while, Sampath Bank has implemented all government-led moratorium schemes for eligible customer segments affected by the pandemic. The Bank’s digitalisation strategy has also continued to prove its worth during these trying times by securing a more accessible and safer banking experience for customers.

Sampath Bank is a 100% locally-owned bank that has deeply rooted itself in the hearts of the people of Sri Lanka. Established in 1987, the bank has become a state-of-the-art financial institution with numerous innovations to its credit. It continues to be a market leader today thanks to its customer-focused approach to banking. Sampath Bank has introduced many firsts to the Sri Lankan banking sector. These include the introduction of automated teller machines (ATMs) to Sr Lanka, extended banking hours for the convenience of customers, slip-less banking and touchless ATM withdrawals. The bank continues to steadily transform itself into a technology-driven financial services provider whilst keeping true to its traditions, values and ideals.



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India’s rise in manufacturing sector seen as holding out possibilities for SL

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India’s rise in manufacturing sector seen as holding out possibilities for SL

India’s rapid rise as a global manufacturing hub and consumer market is reshaping South Asia’s apparel landscape, creating both urgency and opportunity for Sri Lanka to reposition itself through deeper regional integration, Acting Indian High Commissioner to Sri Lanka Dr. Satyanjal Pandey said recently at the Sri Lanka Apparel Exporters Association (SLAEA) Annual General Meeting in Colombo.

Addressing industry leaders at Cinnamon Life, Dr. Pandey said the next phase of growth in South Asian apparel will be driven not by competition within the region, but by collaboration across it, particularly between India and Sri Lanka.

“India and Sri Lanka bring very different but highly complementary strengths, he said. “India offers scale, raw materials, a vast labour pool and a rapidly expanding domestic market. Sri Lanka brings world-class manufacturing standards, compliance, speed, flexibility and trusted relationships with premium global brands. Together, these strengths can create globally competitive regional value chains.”

Dr. Pandey revealed that India had concluded a major trade agreement with the European Union earlier in the day, granting tariff-free access across more than 9,000 product lines, including apparel, with tariffs reduced from 12 percent to zero.

The agreement, he noted, reinforces India’s growing centrality in global trade and underscores the need for Sri Lanka to move swiftly in aligning its trade and investment strategies with regional developments.

He stressed that India’s objective is not to displace Sri Lankan apparel producers, but to grow together in an increasingly complex global market where buyers are demanding resilience, sustainability and regional diversification.

India today is one of the world’s fastest-growing major economies, with a large and youthful population, expanding middle class and rising apparel consumption. For Sri Lankan manufacturers, this presents opportunities not only as a sourcing partner, but also as an export destination for value-added apparel, technical textiles and sustainable fashion.

Against this evolving landscape, Sri Lankan industry leaders highlighted the urgency of aligning domestic policy and regulatory frameworks with India’s accelerating trade momentum.

Sri Lanka Exporters Association chairperson Ms. Rajitha Jayasuriya said global regulatory compliance has become a prerequisite for market access, particularly in Europe.

She pointed to the EU’s Corporate Sustainability Due Diligence Directive (CSDDD), enhanced traceability requirements and Digital Product Passports (DPPs) as measures that will increasingly shape trade flows.

“These are no longer optional standards. They are a licence to operate, she said, adding that Sri Lanka must urgently build national support systems to help SMEs and supply chain compliance through transparency, sustainable materials and robust data systems.

Jayasuriya warned that failure to secure the renewal of Sri Lanka’s GSP Plus facility would further weaken competitiveness, especially as India strengthens its trade position with the EU.

“With India moving ahead rapidly, Sri Lanka must mobilise faster to protect preferential access and avoid erosion of market share, she said.

India also featured prominently in the industry’s forward-looking trade agenda.

Jayasuriya said priorities for 2026 include securing quota-free access to the Indian market, ensuring predictable trade flows and deepening Sri Lanka’s integration into India-centric regional value chains.

“A stronger India–Sri Lanka apparel corridor is not just an economic opportunity; it is a strategic imperative, she said.

Policy reform at home was identified as a critical enabler of regional integration.

Jayasuriya called for accelerated digital reforms, including the introduction of a fully fiscalised e-invoicing system for exporters, to improve liquidity, compliance and transparency.

She noted that countries such as India have already moved ahead in this area, strengthening their competitiveness.

The apparel industry’s performance in 2025, she said, demonstrated what is possible when factory-level resilience is matched by responsive policymaking. However, she cautioned that regional competitors such as Cambodia, Vietnam and Bangladesh continue to move aggressively on scale, automation and trade agreements.

By Ifham Nizam

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Arpico NextGen Mattress gains recognition for innovation

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(From Left – Right) Arpitech (Pvt) Ltd, Richard Pieris & Company PLC, represented by Lalith Wijeyesinghe, Managing Director, and Jayanatha Alwis, Deputy General Manager - Manufacturing, accept the award and certificate for the Innovative Product of the Year Award

Arpico, the longstanding frontrunner in Sri Lanka’s mattress industry, recently received the award for 2nd Runner-Up in the category of Innovative Product of the Year at the 2025 PRISL Industry Awards. Hosted by the Plastic and Rubber Institute of Sri Lanka (PRISL), the awards honour outstanding industry contributions to the plastics, rubber, latex, and recycling sectors.

Awarded for Arpico’s NextGen mattress, the recognition reaffirmed the company’s commitment to crafting state-of-the-art sleep solutions and providing its customers with seamless retail experiences.

The Arpico NextGen mattress stands as a distinctive example of Arpico’s vision. With its inclusion of profile-cut air-cooling pocket technology, the NextGen mattress is the product of intensive research and development, designed to align with Arpico’s mission to innovate products that enrich everyday living. Built using cutting-edge German Computer Numerical Control (CNC) foam-cutting technology, the NextGen’s design aims to amplify cooling, essentially enhancing sleep quality through its superior comfort, adaptive support, and long-lasting performance, allowing sleepers to wake rejuvenated.

Discussing the award, Lalith Wijeyesinghe, Managing Director of Arpitech (Pvt) Ltd, Richard Pieris & Company PLC, said, “The award is a testament to the efforts and ingenuity of our team, led under the visionary guidance of our Group Chairman, CEO, and Managing Director of Richard Pieris & Company PLC, Dr Sena Yaddehige. It reaffirms our endeavours to design products that integrate emerging technologies for the benefit of our customers. Furthermore, we recognise the award as an incentive to continue pushing the boundaries of our achievements and pursue ever greater heights of success.”

 Arpitech (Pvt) Ltd is a leading trailblazer in polyurethane foam and spring mattresses, sheets, cushions, and siliconised fibre pillows, backed by a corporate legacy spanning over four decades of manufacturing excellence. The company upholds the highest quality standards, having secured the prestigious ISO 9001:2015 certification. Furthermore, Arpico adheres to the SLS standard for its acclaimed Arpifoam. Renowned as a trusted brand, Arpitech (Pvt) Ltd draws from the 90-year legacy of its parent company, the Richard Pieris & Company PLC. From a modest beginning as a filling station in 1932, Richard Pieris & Company has grown into one of Sri Lanka’s most diversified business conglomerates with interests in retail, plantations, rubber, furniture, tyres, plastics, insurance, stockbroking, financial services, and logistics. It is one of the largest listed entities on the Colombo Stock Exchange, with a remarkable annual turnover.

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Advice Lab unveils new 13,000+ sqft office, marking major expansion in financial services BPO to Australia

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Advice Lab, a leading provider of financial services BPO solutions to the Australian market, announced the opening of its new 13,000+ square‑foot office in Colombo, one of the most modern and dynamic workspaces in Sri Lanka. The move marks a significant milestone in the company’s rapid growth as a BPO and highlights its ongoing commitment to creating valuable job opportunities across Sri Lanka’s professional workforce.

The state‑of‑the‑art facility has been thoughtfully designed to support the company’s expanding operations and its growing portfolio of Australian financial advisers, accountants, and mortgage professionals. Purpose‑built for scale and efficiency, the workspace accommodates larger teams and advanced technology infrastructure while prioritizing employee well‑being and productivity. This emphasis on a people‑first culture is reflected in the inspiring, comfortable, and energizing environment created throughout the new office.

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