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From national pillar to modern tower: People’s Bank enters new era

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Governor of the Central Bank, Dr. P. Nandalal Weerasinghe inaugurates the new iconic head office of the ‘People’s Tower,’ on Oct. 7, along with People’s Bank Chairman Prof. Narada Fernando and CEO /General Manager, Clive Fonseka

In a ceremony that marked not just the opening of a building but the celebration of a national financial institution, the People’s Bank inaugurated its new iconic head office, the ‘People’s Tower,’ on Oct. 7, signaling a bold new chapter in its 64-year journey of service and resilience.

The grand opening, held at the new address in Union Place, Colombo 2, was graced by the Governor of the Central Bank, Dr. P. Nandalal Weerasinghe, and the Secretary to the Treasury, Dr. Harshana Suriyapperuma, underscoring the building’s significance as a national financial landmark.

Beyond the steel and glass of the 22-storey, environmentally sustainable ‘green building,’ the event was a powerful testament to the Bank’s deep-rooted connection with the citizens of Sri Lanka.

The Bank’s Chief Executive Officer/General Manager, Clive Fonseka, used the occasion to paint a vivid picture of the bank’s pervasive role in the national economy. He revealed stunning statistics that bring its mission to life: “Accordingly, 7 out of 10 people in the country carry out transactions with the People’s Bank,” he told the gathered dignitaries, which included Chairman Prof. Narada Fernando and the Bank’s board.

Fonseka elaborated on the Bank’s reach, noting that its digital services have penetrated far beyond the capital. “By now, about 80 percent of the Bank’s digital transactions are carried out outside of the Western Province,” he said, highlighting its national digital footprint.

Furthermore, he revealed that one-fifth of the people and entities in the country have obtained loans from the People’s Bank. “That is a speciality for the Bank,” Fonseka stated with pride.

The CEO’s address also shone a light on the Bank’s critical role as a stabilising force during the nation’s most challenging periods. He recounted how the bank collaborated with the people during the COVID-19 pandemic and the subsequent economic crisis.

“During the economic crisis, the Bank provided the largest contribution in facilitating the importation of the essential fuel, petroleum products, coal, pharmaceuticals, and fertilizer,” Fonseka said, acknowledging the immense challenges the institution faced in 2022-2023 as a result of that.

“It was through unstinting resilience and support of the staff, the Bank has now achieved a top spot in the country’s banking sector, standing strong in profitability, liquidity, and capital strength,” he noted.

The new ‘People’s Tower’, which replaces the head office inaugurated in 1977, is a manifestation of this strength and ambition. The state-of-the-art facility, complete with an auditorium, training college, cafeteria and a new Union Place branch, is designed to be a crucial financial centre for the entire country.

Envisioning the tower as a launchpad for future excellence, he went on to share a key insight from his experience: “No matter how many new services are introduced or new technology is deployed, any bank can gain a period of six months to one year in exceeding competency over other banks. So, I am convinced that only a seamless banking experience is the only way to achieve operational excellence and retain people’s trust in the long term.”

Looking ahead, he outlined a competitive and people-centric vision. “Our objective is to compete fiercely with the public sector and private sector banks and exceed their performance and provide an unparallel service to the people,” Fonseka declared, emphasizing that this forward journey would be powered not just by the bank’s size or its state ownership, but by its human resource and premium service.

With the inauguration of the new ‘People’s Tower’ and assets exceeding Rs. 3.7 trillion, the People’s Bank is positioned like never before. The challenge now, however, is to ensure this scale translates into genuine support for people and small and medium enterprises, finally unlocking the transformative growth they have been waiting for.

By Sanath Nanayakkare



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Sri Lanka betting its tourism future on cold, hard numbers

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“From Data to Decisions” initiative jointly backed by Australia’s Market Development Facility holds its panel discussion

National Airport Exit Survey tells quite a story

Australia’s role here is strategic, not charitable

In a quiet but significant shift, Sri Lanka’s tourism sector is moving beyond traditional destination marketing and instinct-based planning. The recent launch of the “From Data to Decisions” initiative jointly backed by Australia’s Market Development Facility and the Sri Lanka Tourism Development Authority, sent an unambiguous message: sentiment is out, statistics are in.

The initiative is anchored by a 12-month National Airport Exit Survey, a trove of data covering 16,000 travellers. The findings sketch a new traveller profile: nearly half are young (20–35), independent, and book online. Galle, Ella, and Sigiriya are the hotspots; women travellers outnumber men; and a promising 45% plan to return. This isn’t just trivia. It’s a strategic blueprint. If Sri Lanka Tourism listens, it can tailor everything from infrastructure to marketing, moving from guesswork to precision.

Tourists have a real sense of achievement after hiking the trail to Ella Rock

The keynote speaker, Deputy Minister Prof. Ruwan Ranasinghe called data “a vital pillar of tourism transformation.” Yet the unspoken truth is that Sri Lanka has long relied on generic appeals -beaches, heritage, smiles. In today’s crowded market, that’s no longer enough. As SLTDA Chairman Buddhika Hewawasam noted, this partnership is about “elevating how we collect, analyse, and use data.”

Australia’s role here is strategic, not charitable. By funding research and advocating for a Tourism Satellite Account, it is helping Sri Lanka build a tourism sector that is both sustainable and measurable. Australian High Commissioner Matthew Duckworth linked this support to “global standards of environmental protection” – a clear nod to the growing demand for green travel. This isn’t just aid; it’s influence through insight.

“The real test lies ahead,” a tourism expert told The Island. “Data is only as good as the decisions it drives. Will these insights overcome bureaucratic inertia? Will marketing budgets actually follow the evidence toward younger, independent, female travellers?,” he asked.

“The comprehensive report promised for early 2026 must move swiftly from recommendation to action. In an era where destinations are discovered on Instagram and planned with algorithms, intuition alone is a high-stakes gamble. This forum made one thing clear: Sri Lanka is finally building its future on what visitors actually do – not just what we hope they’ll do. The numbers are in. Now, the industry must dare to follow them,” he said.

By Sanath Nanayakkare

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New ATA Chair champions Asia’s small tea farmers, unveils ambitious agenda

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New Chairman of the Asia Tea Alliance (ATA), Nimal Udugampola

In his inaugural address as the new Chairman of the Asia Tea Alliance (ATA), Nimal Udugampola placed the region’s millions of smallholders at the core of the global tea industry’s future, asserting they are the “indispensable engine” of a sector that produces over 90% of the world’s tea.

Udugampola, who is also Chairman of Sri Lanka’s Tea Smallholdings Development Authority, used his speech at the 6th ATA Summit held in Colombo on Nov. 27 to declare that the prosperity of Asian tea is “entirely contingent” on the resilience of its small-scale farmers, who have historically been overlooked by premium global markets.

“In Sri Lanka, smallholders account for over 75% of our national production. Across Asia, millions of families maintain the quality and character of our regional teas,” he stated, accepting the chairmanship for the 2025-2027 term.

To empower this vital community, Udugampola unveiled a vision focused on Sustainability, Equity, and Digital Transformation. The strategic agenda includes:

Climate Resilience: Promoting climate-smart agriculture and regenerative farming to protect smallholdings from environmental disruption.

Digital Equity: Leveraging technology like blockchain to create farm-to-cup traceability, connecting smallholders directly with premium consumers and ensuring fair value.

Market Expansion: Driving innovation in tea products and marketing to attract younger consumers and enter non-traditional markets.

Standard Harmonization: Establishing common regional quality and sustainability standards to protect the “Asian Tea” brand and push for stable, fair pricing.

Linking the alliance’s goals to national ambition, Udugampola highlighted Sri Lanka’s target of producing 400 million kilograms of tea by 2030. He presented the country’s “Pivithuru Tea Initiative” as a model for other ATA nations, designed to achieve this through smallholder empowerment, digitalization, and aligned policy objectives.

By Sanath Nanayakkare

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Brandix recognised as Green Brand of Year at SLIM Awards 2025

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Brandix has championed best practices in the sphere of sustainable manufacturing over the years

Brandix Apparel Solutions was recognised as the Green Brand of the Year at the Sri Lanka Institute of Marketing (SLIM) Brand Excellence Awards 2025, taking home Silver, the highest award presented in the category this year.

The ‘Green Brand of the Year’ recognises the brand that drives measurable environmental impact through sustainable practices, climate-aligned goals and long-term commitment to protecting natural resources.

A pioneer in responsible apparel manufacturing for over two decades, Brandix has championed best practices in the sphere of sustainable manufacturing covering environmental, social, and governance aspects. The company built the world’s first Net Zero Carbon-certified apparel manufacturing facility (across Scope 1 and Scope 2) and meets over 60% of its energy requirement in Sri Lanka via renewable sources.

Head of ESG at Brandix, Nirmal Perera, said: “Being recognised as Green Brand of the Year is an encouraging milestone for our teams working across sustainability.”

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