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Sampath Bank successfully navigates challenging economic environment

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Harsha Amarasekera, Chairman, Sampath Bank PLC (left) and Nanda Fernando, Managing Director, Sampath Bank PLC.

Backed by its solid capital base and prudent risk fundamentals, Sampath Bank continues to prove that it is well equipped to navigate the challenging economic environment. Having sufficient capital buffers to absorb significant losses arising by reason of the prevailing stressful economic conditions, the Bank’s well-diversified investment portfolio coupled with its increased vigilance and proactive risk management measures have enabled Sampath Bank to remain resilient and prioritize stakeholder interests above all other interests in the context of negative economic headwinds.
Notwithstanding the extremely challenging economic conditions which prevailed, Sampath Bank registered a profit before tax (PBT) of Rs 6.5 Bn and a profit after tax (PAT) of Rs 4.7 Bn for the three months ended 31st March 2022, indicating marginal growth of 5.3% and 2.9% respectively from the figures reported in Q1 2021 despite having taken in a substantial impairment provision on loans and investments.Key highlights of financial results declared by Sampath Bank and the Group for the Q1 of 2022:
Strong NIM on the back of rising AWPLR.

Solid 248% growth in exchange income stemming from the sharp depreciation of the Sri Lankan rupee against the USD by 47%.Sizable 74.6% increase in net fee and commission income during the period, driven by cards and trade-related operations. Higher impairment provision on loans and investments to capture possible economic uncertainties.
Marginal drop in Group PAT (4.9%) while PBT recorded a slight growth of 1.6%. The Group’s PBT and PAT for Q1 2022 was Rs 6.8 Bn and Rs 4.9 Bn respectively.
Fund based income Sampath Bank recorded a total interest income of Rs 24.9 Bn in Q1 2022 compared to Rs 20.7 Bn for the corresponding period in the previous year, reflecting a 20% growth year-on-year. The increase is attributed to the higher interest income from loans and investments resulting from the upward trend in interest rates in Q1 2022 compared to the corresponding period in the previous year. AWPLR increased by 396 bps from 5.75% reported on 31st March 2021 to 9.71% reported at the end of the reporting period. Meanwhile, one year treasury bill rate increased by 717 bps from 5.11% reported at the end of the corresponding period.

Despite the interest rates hikes observed in recent months, Sampath Bank was able to benefit from lower cost of funds thanks to the higher concentration of CASA in its deposit portfolio. As a result, the Bank recorded a marginal drop of 1.6% in interest expenses during Q1 2022 compared to the first quarter of 2021. The Bank’s interest expenses for the first three months of 2022 was Rs 11.3 Bn compared to Rs 11.5 Bn reported for the same period in the previous year. Net interest income increased by 47% in the first quarter of 2022 as a result of the aforementioned factors. Net interest Margin also reported at 4.54%, a healthy growth of 93 bps compared to the figures reported at the end of 2021.



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UAE Pledges Support for the Promotion of Energy, Tourism, Investment and Foreign Employment Sectors

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The Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates (UAE), Sheikh Abdullah Bin Zayed Al Nahyan, stated that the UAE will prioritize the promotion of the energy, tourism, foreign investment and foreign employment sectors while further strengthening its longstanding ties with Sri Lanka.

The Deputy Prime Minister who is currently on an official visit to Sri Lanka accompanied by a high-level UAE delegation made these remarks during a meeting with President Anura Kumara Disanayake at the Presidential Secretariat on Tuesday (22).

The Deputy Prime Minister emphasized that this visit aims to further strengthen and expand the strong and longstanding bilateral relations between the two nations, with a focus on achieving mutual economic benefits through deepened cooperation for both countries.

Extending his best wishes on behalf of the UAE and its people to the new administration of Sri Lanka, the Deputy Prime Minister assured the UAE’s full support for the new government’s development agenda.  Furthermore, he praised President Anura Kumara Disanayake’s dedication, efforts and commitment toward rebuilding Sri Lanka, as well as his positive approach toward relations with the UAE.

In response, President Anura Kumara Disanayake emphasized that Sri Lanka has now established an investment-friendly environment. He assured that unlike in the past, the country would not allow the re-emergence of an unstable climate that discouraged investment. The President also stressed that there are now strong legal frameworks in place to protect investments.  The President also briefed the delegation on the government’s steps toward debt restructuring and achieving economic stability. Additionally, he outlined investment opportunities available in port terminal development, port city development, the tourism industry, the energy sector and transportation sector.

President Disanayake further emphasized that the new government’s objective is to position Sri Lanka as the region’s leading investment hub and premier tourist destination.

Among those present at the meeting were Minister of Labour and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando, Senior Additional Secretary to the President Roshan Gamage, Minister of State (UAE) Ahmed Ali Al Sayegh; UAE Ambassador to Sri Lanka. Khaled Nasser Al Ameri, Assistant Minister for Economic and Trade Affairs (UAE) . Saeed Mubarak Al Hajeri, Assistant Minister of Foreign Affairs for Energy and Sustainability Affairs (UAE)  Abdulla Balalaa, Deputy Chief of Staff at the Office of the Minister of Foreign Affairs to the UAE, Ahmed Burhaima, Director of the Policy Planning Department at the Ministry of Foreign Affairs (UAE) Muath Alwari, Senior Media and Content Specialist at the Office of the Minister of Foreign Affairs (UAE) Maitha Al Mansouri, Desk Officer for Asian Affairs and Pacific Department (UAE) Ms. Huda Al Abdali and several other officials.

[PMD]

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Dialog Enterprise partners with the National Chamber of Exporters to enable digital transformation of Sri Lankan exporters

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From left to right – Sameera Wijerathna, Chief Manager - Digital SME and Education, Dialog Enterprise | Viranga Seneviratne, Head of ICT and Platforms Business, Dialog Enterprise | Navin Pieris, Group Chief Officer - Dialog Enterprise | Shiham Marikar, Secretary General/ Chief Executive Officer- NCE | Dilini Gamlathge - Assistant Director– Member Services/Operations - NCE

Dialog Enterprise, the ICT corporate solutions arm of Dialog Axiata PLC, has partnered with the National Chamber of Exporters of Sri Lanka (NCE) as the official Digital Technology Partner to empower Sri Lankan exporters with cutting-edge digital solutions and Technology expertise.

This collaboration aims to equip exporters with advanced technology-driven capabilities to enhance efficiency, drive innovation, and improve competitiveness in global markets. As Sri Lanka’s No.1 ICT solutions provider, Dialog Enterprise will support NCE and its members with tailored technology solutions, digital transformation initiatives, and expert-led training programs to help businesses embrace Digital Transformation.

“With the government focusing on increasing exports, an export earnings target of $18.2 billion has been set for 2025. The NCE, as the exclusive private sector chamber working with Sri Lankan exporters and service providers to exporters, has engaged in many market access initiatives. The government is also progressing towards a digital economy, and we believe that Sri Lankan exporters must be part of this initiative and advance in the digital arena. It is crucial to ensure that our exporters utilise effective digital platforms to enhance their business activities, including productivity, cost efficiency, and competitiveness in international markets. We believe it is timely to have a Digital Technology partner to help our exporters remain competitive in terms of technology. In today’s rapidly evolving global marketplace, Sri Lankan exporters must integrate digital solutions to stay ahead and drive sustainable growth. This partnership with Dialog Enterprise marks a significant step in ensuring our members have access to the latest technological advancements and expertise to optimise their business operations,” said Shiham Marikar, Secretary General/ Chief Executive Officer- NCE.

This strategic partnership will extend technical empowerment and digital expertise to digital entrepreneurs, manufacturers, SMEs, apparel exporters, retail businesses, agriculture and other industries that rely on digital technology to expand their reach and enhance operational efficiency. With Dialog Enterprise’s industry-leading ICT portfolio, including converged connectivity, cloud services, cybersecurity, data analytics, and Internet of Things (IoT) solutions, exporters will have the tools to digitally transform their businesses and unlock new opportunities.

The collaboration will also introduce training sessions and industry expert support, ensuring NCE members stay ahead of the latest technological advancements and best practices in digital business operations. Additionally, Dialog Enterprise and NCE will work together to host future industry events and initiatives, focusing on technology adoption, digital security, and automation, further strengthening Sri Lanka’s position in the global trade ecosystem.

“At Dialog Enterprise, we believe that technology should be a catalyst for business growth and global expansion. As Sri Lanka’s No.1 ICT solutions provider, we invite businesses across all industries to partner with us in driving digital transformation, unlocking new efficiencies, and creating competitive advantages,” said Navin Pieris, Group Chief Officer – Dialog Enterprise.

Through this partnership, Dialog Enterprise reaffirms its commitment to empowering Sri Lankan businesses with world-class ICT solutions, ensuring they are well-equipped to succeed in an increasingly digital-first economy.

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Team Bileeta celebrating its 15th anniversary

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Team Bileeta celebrating its 15th anniversary, marking a significant milestone in its journey of enterprise digitalization and innovation

Bileeta (Pvt) Ltd, a pioneering Sri Lankan technology company, proudly celebrates its 15th anniversary in 2025. From its inception, Bileeta has championed innovation and digital transformation—thriving enterprise digitalization in the era of AI. What began as a bold vision to create a world-class ERP platform has evolved into a globally recognized provider of next-generation enterprise solutions, empowering organizations across multiple sectors.

Established in 2010, Bileeta was built on a mission to humanize technology and empower organizations with innovative digital solutions. This mission led to the creation of Entution, Sri Lanka’s first-ever cloud-based ERP platform powered by business process architecture —developed entirely by local talent.

As part of its growth journey, Bileeta has expanded its global footprint by partnering with leading international channel partners and establishing regional offices in Singapore, Malaysia, and the Philippines. These strategic moves have strengthened Bileeta’s presence in Asia and enabled the company to serve its growing international customer base better.

In 2014, the company launched Entution ERP, a cloud-based solution designed to streamline operations, enhance accuracy, and deliver real-time business insights. In 2018, Bileeta introduced Entution Vesta, a Health Commodity and Vaccine Information Management System that transformed lifesaving medicine and vaccine distribution across national healthcare systems. Over 6,000 healthcare facilities in Nepal adopted the platform, and Gavi and The Global Fund have recognized it as the most comprehensive eLMIS (Electronic Logistics Management Information System) for low- and middle-income countries. Today, Entution eLMIS supports the medical supply chains of Nepal, the Philippines, and Zimbabwe—a milestone achievement for the Sri Lankan ICT sector and a testament to the country’s growing influence in global digital solutions.

With over 100 organizations, 16,000+ users, and more than 40 million transactions processed through the Entution platform, Bileeta has significantly impacted sectors, including healthcare, livestock, Agriculture, manufacturing, trade, and services.

CEO Sanji De Silva reflected on the company’s journey: “From the beginning, our goal was to build a product that could compete with the best ERP platforms in the world.

We started with just 18 people and a big dream—to become the ERP vendor of choice for global organizations. Today, we’re proud to see that dream realized and Sri Lankan innovation recognized worldwide. Our solutions are now adopted by organizations across various sectors, including four national Ministries of Health. It’s incredibly rewarding to see how our technology is helping organizations become more profitable, scalable, and sustainable.”

Bileeta’s evolution continues with the integration of AI-powered functionality such as demand forecasting into Entution, enabling businesses to optimize inventory, anticipate trends, and improve supply chain efficiency. These innovations reflect Bileeta’s commitment to powering the future of ERP and enabling smarter, data-driven enterprise operations through AI.

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