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Standard Chartered Sri Lanka bags multiple honours at Asset AAA and Global Finance Awards 2024

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Standard Chartered Bank Sri Lanka has achieved outstanding recognition, clinching multiple prestigious awards at the Asset Triple A Awards 2024 and being named among the leading Asia-Pacific banks in 2024 by Global Finance.

The accolades at the Asset Triple A Awards recognise the Bank’s excellence across domains including cash management, trade finance, corporate treasury management, and asset servicing, while the Global Finance award highlights Standard Chartered’s position among the top sub-custodian banks in the Asia-Pacific region.

At the Asset Triple A Treasury, Trade, SSC (Sustainable Supply Chain) and Risk Management Awards 2024, the Bank was honoured with the ‘Best Service Provider for Cash Management in Sri Lanka’ and ‘Best Service Provider for Trade Finance in Sri Lanka’ awards, affirming its outstanding capabilities in delivering cutting-edge solutions to support the cash management and trade finance needs of corporate clients.

These awards honoured the Bank for its advanced cash management capabilities, including digital platforms, liquidity management, receivables finance, and robust security features that cater to the needs of corporate clients in Sri Lanka. In addition, the Bank was also recognised for solutions that support importers and exporters with services including supply chain financing, facilitated by its global network and expertise across key industries.

Moreover, Stefan Coggins, Associate Director, Global Implementation – Transaction Banking, was named the ‘Implementation Manager of the Year’ for Sri Lanka in the Industry Achievement category at the Asset Triple A Treasuries Awards 2024 for his exceptional contributions.

In the 2024 Asset Triple A Sustainable Investing Awards for Institutional Investor, ETF, and Asset Servicing Providers awards programme, Standard Chartered Sri Lanka emerged as the ‘Best Sub-custodian, South Asia – Sri Lanka’ and ‘Best Domestic Custodian – Sri Lanka’. These awards recognise the Bank’s excellence in providing custody and sub-custody services to institutional investors, exchange-traded funds (ETFs), and asset servicing providers in Sri Lanka and the broader South Asian region. It also signifies the Bank’s commitment to operational excellence, and exceptional service delivery.

These awards have reinforced the Bank’s position as a leading financial services provider and commitment to pioneering financial solutions. Additionally, they serve as recognition of the Bank’s dedication to meeting the highest industry standards and contributing to the development of the financial services sector in Sri Lanka and the region.

In addition to the above recognitions, Standard Chartered was selected as the Best Sub-custodian in Sri Lanka at Global Finance’s Best Sub-custodian Bank Awards 2024. This award recognises the Bank’s contribution to improving global coverage and operational efficiency in the industry in addition to supporting digital transformation and cybersecurity issues while consolidating services to meet regulatory demands and client expectations.

“We are immensely proud to receive these prestigious accolades from both Asset Triple A Awards and Global Finance, which re-emphasise our industry excellence,” said Bingumal Thewarathanthri, CEO of Standard Chartered Sri Lanka. “These awards demonstrate our unwavering dedication to delivering excellence and innovative solutions across cash management, trade finance, corporate treasury, and custodian services in Sri Lanka. We remain focused on being a trusted partner to our clients, supporting their growth and success.”

The Asset Triple A Awards are widely recognised as a benchmark for institutional excellence in the financial industry across Asia. The Awards for 2024 felicitate financial institutions, financial technology companies, insurance companies, and digital trendsetters that have excelled in innovating and improving the digital experience for customers across the Asia-Pacific and the Middle East.



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GDP data reaffirms persistent asymmetry of Sri Lanka’s provincial economy

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Western Province maintains its dominant position, accounting for 42.4% of nominal GDP

The 2024 provincial GDP data reaffirms the profound and enduring structural asymmetry in Sri Lanka’s economic geography. The Western Province continues to function as the nation’s overwhelming economic core, while the second and third runners-up, the North Western and Central Provinces respectively, operate on a markedly different scale and sectoral foundation.

The Western Province maintains its dominant position, accounting for 42.4% of the country’s nominal GDP. This preeminence is rooted in its commanding role across the high-value Services and Industry sectors, where it contributes 44.5% and 47.6% of national output, respectively. Its economy is distinctively modern, with a scant 2.3% reliance on agriculture and over 98% of its output derived from industry and services. This concentration of finance, trade, administration, and manufacturing creates an unmatched gravitational pull for investment and talent.

In stark contrast, the combined economic share of the North Western (11.5%) and Central (10.7%) Provinces is just over half that of the Western Province alone. Their paths to relevance are fundamentally different. The North Western Province has solidified its role as the nation’s agricultural heartland, contributing a full 20.0% of national agricultural activity. It also holds a significant, though secondary, position in industry at 12.0%. Its internal economic composition is more balanced across sectors than the west, with a notable reliance on industry (29.1% of its own GDP) alongside agriculture.

The Central Province, meanwhile, presents a more services-oriented profile among the runners-up, contributing 10.7% to the national services total. It also holds important shares in agriculture (13.9%) and industry (9.6%). Internally, its economy mirrors the national structure most closely among major provinces, with services constituting about 63% of its output. This suggests a diversified regional economy centered on urban hubs like Kandy, but one that lacks the concentrated high-end service power of Colombo.

The comparative analysis reveals a clear hierarchy. The Western Province is the integrated, metropolitan driver of the modern economy. The North Western Province serves as a vital agro-industrial base, and the Central Province as a diversified regional center. Despite a noted increase in the combined share of the other provinces, the gap remains vast. The economic landscape is thus characterized not by convergence, but by a persistent and specialized asymmetry, where the runners-up support the national economy through different, but essential, sectoral strengths, all while operating in the long shadow of the western province.

by Sanath Nanayakkare

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Sri Lanka Insurance supports 1,000 families in flood-affected areas

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Dry ration packs were distributed through the NDRSC

Sri Lanka Insurance Life and Sri Lanka Insurance General, in collaboration with the National Disaster Relief Services Centre (NDRSC), extended vital assistance to 1,000 families affected by the recent ‘Ditwah’ cyclone. The relief initiative was carried out in two phases on 30th November and 2nd December 2025, reflecting the company’s continued commitment to supporting communities in times of distress.

Dry ration packs were distributed through the NDRSC to the Maharagama Urban Council and the Divulapitiya Pradeshiya Sabha, ensuring that aid reached the most affected households swiftly and efficiently. Both distribution programmes were held with the participation of local authorities and the management teams of SLIC Life and SLIC General, further strengthening the company’s close partnership with the communities it serves.

Speaking on the initiative, Chairman of Sri Lanka Insurance, Nusith Kumaaratunga, stated; “Sri Lanka Insurance has always placed community wellbeing at the heart of its purpose. In difficult times such as these, it is our responsibility to stand with the families who have been affected and offer meaningful support. This relief effort reflects our ongoing commitment to uplift communities and reinforces our role as a trusted national insurer focused on protection, care, and compassion.”

In addition to the relief programme, Sri Lanka Insurance has implemented extended operating hours at selected SLIC General branches in the affected areas to ensure uninterrupted service. Claims, customer care teams, and branch staff are working beyond regular hours to provide prompt assistance to policyholders impacted by the severe weather conditions.

Sri Lanka Insurance remains dedicated to safeguarding its customers and supporting communities across the nation, reaffirming its longstanding promise of protection, stability, and service excellence.

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Jaffna Hindu College wins regional AIA Healthiest Schools award

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The college was honoured at a vibrant regional awards ceremony

Jaffna Hindu College was named as one of the winners at the regional award ceremony of the prestigious AIA Healthiest Schools Competition, a flagship initiative by AIA Group aimed at promoting healthier habits among students across Asia-Pacific region through innovative school-based projects. The competition, which drew a record number of entries from eight regional markets, recognises schools that implement innovative and impactful initiatives in the areas of healthy eating, active living, mental wellbeing, and sustainability. Jaffna Hindu College stood out in the Active Lifestyles Award Category for its creative and community-focused project that introduced a bicycle rental system, ensuring greater access to physical activity for all students and encouraging healthier lifestyles across the region.

The winners of AIA Healthiest Schools programme were honoured at a vibrant regional awards ceremony in Da Nang, Vietnam, where the prize money was awarded to the respective schools to support the ongoing health and wellbeing initiatives.

The Cycling Club was introduced to make physical activity accessible and enjoyable for all students. The club introduced a bicycle rental system, managed via a custom software platform, ensuring equitable access regardless of financial background. Students participated in a cycle parade and three themed challenges focused on endurance, speed, and teamwork. The initiative quickly became popular, engaging over 100 students and receiving enthusiastic support from teachers, parents, and local businesses. Experienced cyclists from the community volunteered as coaches, while cycling organisations provided safety training and route planning.

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