Business
SDB bank kicks off Financial Year 2022 with Resilient First Quarter
SDB bank has posted a resilient First Quarter of the year, delivering a strong start to the financial year 2022. Accordingly, the Bank recorded a profit of LKR 181 million for Q1, ending 31st March 2022. The Quarter also witnessed Net Interest Income rising to LKR 1,968 million, an increase of 21% compared with Q1 2021. Total operating income too grew by 19% to LKR 2.17 billion during Q1. SDB bank has also emerged among the most stable and well-positioned banks in the current economic environment at the end of Q1. As at 31st March 2022, the Bank’s Capital Adequacy Ratio and all other liquidity ratios are well above regulatory minimum requirements. Furthermore, being a licensed specialised bank, SDB bank’s exposure to foreign currency risks and exchange rate volatility is very limited. Thus, despite the current challenging market conditions, SDB bank remains relatively insulated from currency fluctuation risks.
Commenting on the Q1 performance, Niranjan Thangarajah – Acting CEO at SDB bank said, “Our financial performance results for Q1 demonstrate the resilience, strength and foresight of SDB bank, guided by our highly experienced and qualified staff and leadership team, which is comprised of professionals and business leaders who are experts in their respective fields. Sri Lanka is facing a tumultuous moment in its political and economic history and the shockwaves of the crisis continue to ripple throughout the economy. However, as a result of our strategic positioning, provisioning and vision, we are in a position to continue to deliver exceptional value and performance to our stakeholders. Guided by its diverse & experienced Board of Directors & Senior Management team, SDB bank is presently well-positioned to deliver stability and resilience in the months and years ahead. We look forward to working together with all stakeholders to ensure that we serve Sri Lanka and Sri Lankans at this pivotal period in our Nation’s history.”
A future-ready bank, providing holistic, 360-degree support to its customers, SDB bank is constantly catering to ever-changing needs, through a combination of financial support and value additions to life and business through mentorship and knowledge-sharing focusing on areas such value chain enhancements and financial management. SDB bank is also committed to a sustainable business model in terms of environmental, social and governance sustainability. This commitment is reflected in the Bank’s financing activities, giving preference to businesses and initiatives that take a sustainable approach over those that do not. SDB bank has established itself as a financier that values every customer equally, for their potential and supports the development of individuals and SMEs with a special focus on women empowerment and digital inclusion.
Company stresses ambition to surpass this milestone
Eyes markets across Africa and beyond
In a groundbreaking achievement for Sri Lanka’s IT and electronics manufacturing industry, EWIS Colombo Ltd, the country’s first and only local computer manufacturer, has successfully exported its first consignment of locally built laptops to Zimbabwe.
This landmark event not only positions Sri Lanka as an emerging force in global IT hardware manufacturing but also highlights EWIS’s commitment to innovation, quality, and excellence on the international stage.
This historic shipment, dispatched from EWIS’s state-of-the-art manufacturing facility in Samajasewapura, Sooriyawewa, underscores the company’s dedication to delivering world-class technology solutions. With over 11 years of expertise in manufacturing and assembly, EWIS Colombo Ltd has played a pivotal role in driving Sri Lanka’s ICT sector forward. As a Board of Investment (BOI) Section 17-approved company, EWIS has established the country’s first and only local computer manufacturing plant, paving the way for the nation’s growth in high-tech exports.
Speaking on this momentous achievement, Sanjeewa Wickramanayake, Chairman of EWIS Colombo Ltd, said: “This milestone is not just for EWIS but for Sri Lanka as a whole. It proves that our country has the talent, capability, and ambition to manufacture and export high-quality IT products, competing confidently on the global stage. As we continue expanding beyond local markets, we take immense pride in showcasing Sri Lanka’s excellence in technology and innovation to the world. EWIS’s commitment to world-class quality is reinforced by its ISO 9001:2015, ISO 14001:2015, CE, FCC, and RoHS certifications, ensuring compliance with international quality, safety, and environmental standards.”
Speaking further he said:
“For nearly four decades, EWIS has been a trailblazer in Sri Lanka’s ICT sector, delivering cutting-edge solutions for education, businesses, and government enterprises.
With over 11 years of local manufacturing and assembly expertise, EWIS has continuously refined its capabilities to produce high-quality, internationally competitive IT hardware. The successful export to Zimbabwe represents a bold step toward expanding EWIS’s global footprint, reinforcing Sri Lanka’s potential as a world-class technology and manufacturing hub.”
The International Institute of Health Sciences (IIHS), a pioneer in healthcare training for over 23 years, has partnered with the University of Surrey, UK, to revolutionise healthcare education in Sri Lanka and the broader South Asian region. This will create a world-class academic pathway for aspiring nursing and healthcare professionals, as well as young individuals seeking careers in the field. Under this agreement, IIHS and the University of Surrey will introduce a series of academic initiatives to enhance healthcare training and accessibility.
These include delivering internationally recognised nursing programmes that allow Sri Lankan and regional students to earn globally competitive qualifications in Sri Lanka.
Commenting on the move, Dr. Kithsiri Edirisinghe, CEO & Dean of Undergraduate Studies at IIHS, said: “This MOU marks a significant step in our mission to deliver world-class healthcare education to Sri Lanka and the region. IIHS remains dedicated to shaping the future of healthcare professionals and fostering global healthcare leadership.” Dr. Shelini Surendran, Associate Dean (International) at the University of Surrey, emphasised: “Sri Lanka is establishing itself as a regional education hub, and this partnership ensures students across Asia can access top-tier UK healthcare education at IIHS. By bridging academic excellence with accessibility, we provide students with a clear pathway to their professional goals.”
Dialog Television, Sri Lanka’s #1 Pay-TV service provider, has partnered with Emerging Media to enhance the convenience and effectiveness of advertising. This collaboration brings together Dialog Television’s world-class entertainment, featuring 18 advertisable channels across genres such as movies, edutainment, kids, music, sports, and local content, with Emerging Media’s expertise in digital advertising and targeted marketing. This synergy creates a seamless platform for businesses to maximize brand exposure across multiple channels.
With a reach of over 1.7 million households, Dialog Television provides advertisers with a powerful avenue to engage diverse audiences. Brands can place advertisements on leading international and local channels such as &flix, Star Movies, TLC, Animal Planet, AXN, Zee Café, Comedy Central, Star Plus, A+, Nickelodeon, Star Vijay, Zee Tamil, Star Sports, Ten Cricket, Sony SIX, ThePapare TV, Channel One, Citi Hitz and Channel C. Through this partnership, Emerging Media will facilitate advertising sales, allowing businesses to target specific viewer segments while simplifying the media buying process with a single point of contact.
Commenting on the partnership, Lim Li San, Group Chief Operating Officer at Dialog Axiata PLC, stated, “As Sri Lanka’s premier Pay-TV service provider, we serve more than 1.7 million households with over 6 million pairs of captive eyeballs across Sri Lanka. Today, we are excited to embark on this partnership with Emerging Media to avail our Dialog Television platform and brand strength to provide quality advertisement exposure and customer engagement to local businesses across Sri Lanka.”
French Navy Ship PROVENCE arrives in Port of Colombo
Court of Appeal dismisses Ex-IGP’s writ petition
Trump moves to close down Voice of America
-
Foreign News2 days agoSearch continues in Dominican Republic for missing student Sudiksha Konanki
-
News6 days agoAlfred Duraiappa’s relative killed in Canada shooting
-
Features5 days agoRichard de Zoysa at 67
-
Editorial7 days agoGhosts refusing to fade away
-
Midweek Review6 days agoRanil in Head-to-Head controversy
-
Features5 days agoSL Navy helping save kidneys
-
Features7 days agoThe Gypsies…one year at a time
-
Latest News3 days agoDebutant Madara, Athapaththu fashion Sri Lanka women’s first T20I win in New Zealand