Business
Senior Citizens are eligible for Rs. 200 million in medical benefits with Sampath Sanhinda Saver accounts
Keeping its promise to protect the nation’s senior citizens, Sampath Bank recently pledged a record Rs. 200 million in medical benefits to Sampath Sanhinda Saver accountholders. This is the highest ever total the bank has committed to safeguarding the future of seniors since the inception of the program in 2009.
At a time when Sri Lanka finds itself dealing with alarming circumstances–spiraling inflation, political unrest, a fuel crisis, a sharp economic downturn, and scarcities of pharmaceuticals and other essential items–the help with medical expenses that this plan provides is a reassuring financial cushion for anxious seniors looking for ways to ride out the turbulent storm that has darkened the prospects of what should have been their untroubled golden years. It reflects the Bank’s uncompromising commitment to stand by its customers while helping the country and the business community get back on their feet.
Sampath Bank provides these benefits based on the annual average balance that each individual Sampath Sanhida Saver maintained in his or her account between July 1, 2021 and June 30, 2022. The resulting sum of money will be credited to all the accountholder’s Sanhida Medical Benefit Cards, and can be used to make payments at selected hospitals, labs and pharmacies.
These partner organizations include the Asiri Group of Hospitals, CDEM Hospital, Derana Medical Laboratory, Hemas Hospitals, Lanka Hospitals, Medihelp Hospitals, Nawaloka Hospitals, Nawinna Medicare Hospitals, Northern Central Hospitals, Pannipitiya Private Hospital, Sethma Hospital, Sethma Pharmacy, Kings Hospitals, Melsta Labs, Melsta Pharmacy, Singhe Hospitals, Southern Lanka Hospitals, Winsetha Hospital, and select Rajya Osusala (State Pharmaceuticals Corporation) and Vision Care outlets.
Sampath Sanhida Saver accountholders can check the available balance in their medical benefit card by making a missed call to 01112303080, by dropping in at the nearest Sampath Bank branch, or by contacting the Bank’s customer care center at 0112303050.
“North, South, East or West, one thing all Sri Lankans share in common regardless of race or religion, is concern for the wellbeing of our elderly people,” said Tharaka Ranwala, Senior Deputy General Manager – Digitalization, Deposit Mobilization and Marketing, Sampath Bank PLC. “It’s a deeply ingrained part of our national culture. As an institution that prides itself on being closely attuned to the heartbeat of Sri Lanka, Sampath Bank is imbued with those same values. Raising the ceiling of the Sampath Sanhida Saver medical benefits package to Rs. 200 million will help thousands of our senior citizen account holders to afford the expenses that accompany the infirmities of advancing years.”
Discussing the unique senior-friendly advantages this account provides, Amila Thewarapperuma, Chief Manager – Deposit Mobilization/Head of Sales, Sampath Bank PLC, said, “Sampath Sanhinda Saver account offer seniors bigger returns on their savings, plus many other benefits to ease the cost of their healthcare requirements. Sampath Sanhinda Saver accounts pay a higher interest rate, and the Bank credits the interest dues twice a month, so it adds up. It’s part of our mission to deliver greater value to all Sri Lankans through innovative savings programs, and this is a textbook example of a hugely beneficial financial plan that anticipates and caters to the needs of a very specific demographic.”
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 Q1 2022. All the while, Sampath Bank has implemented all government-led moratorium schemes for eligible customer segments affected by the pandemic. The Bank’s digitalization strategy has also continued to prove its worth during these trying times by securing a more accessible and safer banking experience for customers.
An International Monetary Fund (IMF) team led by Evan Papageorgiou visited Colombo from April 3 to 11, 2025. After constructive discussions in Colombo, Mr. Papageorgiou issued the following statement:
“Sri Lanka’s ambitious reform agenda supported by the IMF Extended Fund Facility (EFF) continues to deliver commendable outcomes. The post-crisis growth rebound of 5 percent in 2024 is impressive. Inflation declined considerably in recent quarters and has fallen to ‑2.6 percent at end-March 2025. Gross official reserves increased to US$6.5 billion at end-March 2025 with sizeable foreign exchange purchases by the central bank. Substantial fiscal reforms have strengthened public finances.
“The recent external shock and evolving developments are creating uncertainty for the Sri Lankan economy, which is still recovering from its own economic crisis. More time is needed to assess the impact of the global shock and how its implications for Sri Lanka can be addressed within the contours of its IMF-supported program.
“The government’s sustained commitment to program objectives is ensuring policy continuity and program implementation remains strong. Going forward, sustaining the reform momentum is critical to safeguard the hard-won gains of the program and put the economy on a path toward lasting macroeconomic stability and higher inclusive growth.
“Against increased global uncertainty, sustained revenue mobilization efforts and prudent budget execution in line with Budget 2025 are critical to preserve the limited fiscal space. Boosting tax compliance, including by reinstating an efficient and timely VAT refund mechanism, will help contribute to revenue gains without resorting to additional tax policy measures. Avoiding new tax exemptions will help reduce fiscal revenue leakages, corruption risks and build much needed fiscal buffers, including for social spending to support Sri Lanka’s most vulnerable. Restoring cost recovery in electricity pricing will help minimize fiscal risks arising from the electricity state-owned enterprise.
“The government has an important responsibility to protect the poor and vulnerable at this uncertain time. It is important to redouble efforts to improve targeting, adequacy, and coverage of social safety nets. Fiscal support needs to be well-targeted, time-bound, and within the existing budget envelope.
“While inflation remains low, continued monitoring is warranted to ensure sustained price stability and support macroeconomic stability. Against ongoing global uncertainty, it remains important to continue rebuilding external buffers through reserves accumulation.
“Discussions are ongoing, and the authorities are encouraged to continue to make progress on restoring cost-recovery electricity pricing, strengthening the tax exemptions framework, and other important structural reforms.
“The IMF team held meetings with His Excellency President and Finance Minister Anura Kumara Dissanayake, Honorable Prime Minister Dr. Harini Amarasuriya ; Honorable Labor Minister and Deputy Minister of Economic Development Prof. Anil Jayantha Fernando, Honorable Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma, Central Bank of Sri Lanka Governor Dr. P. Nandalal Weerasinghe, Secretary to the Treasury Mr. K M Mahinda Siriwardana, Senior Economic Advisor to the President Duminda Hulangamuwa, and other senior government and CBSL officials. The team also met with parliamentarians, representatives from the private sector, civil society organizations, and development partners.
“We would like to thank the authorities for the excellent collaboration during the mission. Discussions are continuing with the goal of reaching staff-level agreement in the near term to pave the way for the timely completion of the fourth review. We reaffirm our commitment to support Sri Lanka at this uncertain time.”
The Commercial Bank of Ceylon has transformed its iconic ‘Foreign Branch’ into the ‘Corporate Branch,’ reaffirming its commitment to delivering dedicated, comprehensive financial solutions to corporate and trade customers.
The Bank said this transformation represents a new milestone in its illustrious journey, and resonates with the rich commercial heritage of Colombo, a city that has long served as a vital trading hub in the region.
Strategically located at the Bank’s Head Office at Commercial House, 21, Sir Razeek Fareed Mawatha (Bristol Street), Colombo 1, this rebranded Corporate Branch stands as a first of its kind in Sri Lanka —a premier financial hub tailored exclusively to the needs of corporate customers, the Bank said. The transformation aligns with the Bank’s vision of providing unparalleled service excellence, bespoke financial solutions, and fostering long-term business partnerships.
Commenting on this strategic initiative, Commercial Bank’s Managing Director/CEO Sanath Manatunge stated: “It is our aspiration that just as the historic Delft Gateway, at which our Head Office is located, once opened the path to the Dutch Fort, our Corporate Branch will chart a new era of enduring and prosperous business collaborations, that will extend beyond Sri Lanka’s shores.”
Fits Retail has partnered with retail giant Abans PLC to showcase the iconic DeLonghi coffee machines at two of Colombo’s most prestigious locations: Abans Elite Colombo 3 and Abans Havelock City Mall showrooms.
At these dedicated demonstration zones, visitors can discover the unparalleled precision engineering and user-friendly technology that have made DeLonghi machines the preferred choice for discerning coffee lovers in more than 46 countries worldwide. Renowned for consistently delivering café-quality espresso, cappuccino, and even specialty cold brews, DeLonghi machines exemplify Italian innovation at its finest.
Yasas Kodituwakku, CEO of Fits Retail, expressed excitement about the collaboration: “This partnership represents our unwavering commitment to bringing global coffee excellence to Sri Lankan connoisseurs. With Abans PLC, we’re creating more than just demonstration spaces; we’re curating premium destinations for an authentic coffee experience.”
“As pioneers of premium lifestyle experiences in Sri Lanka, our collaboration with Fits Retail aligns seamlessly with our vision of elevating everyday moments into exceptional experiences,” said Tanaz Pestonjee, Director Business Development at Abans PLC.
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