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Sampath Bank recognised for its strengths across diverse parameters

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Nanda Fernando, Managing Director of Sampath Bank PLC

Looking back at its performance, Sampath Bank noted with pride that it was able to maintain its strengths across diverse parameters, as evidenced by the variety of local and international awards won.

The Bank was able to improve its ranking on many of the corporate leaderboards it was recognised on. In addition to constantly being recognised for its financial prowess, the bank continued to improve in terms of respect from other corporate peers as well as in its perceived value, two non-financial attributes that are crucial, yet extremely challenging to achieve during ordinary times, much less in times of such adversity.

The bank also saw its asset base cross the Rs. 1 trillion mark in 2020, a feat achieved by very few players in the industry. Sampath Bank achieved this milestone in a record 33 years, becoming the youngest bank in Sri Lanka to do so.

Given the volatile market conditions experienced during the past one and a half years, these achievements are a true testament to the strength and stability of Sampath Bank, its resilience and adaptability and the confidence placed in it by investors and customers alike.

“Right from our inception, we have strived to constantly innovate, transforming the nation’s financial services landscape and delivering greater value to all our stakeholders. Helping us earn the trust of our customers and shareholders, our efforts in this regard have been instrumental in shaping our financial success. They also continue to bring us ever more awards and accolades, both at home and around the world,” said Nanda Fernando, Managing Director of Sampath Bank PLC. “On behalf of all of us at Sampath Bank, I would like to thank the nation for their love, respect and support, especially during these turbulent times. We look forward to continuing to serve them and add more value to their lives in the years to come.”

Sampath Bank was rated amongst the Most Admired Companies of Sri Lanka by the International Chamber of Commerce of Sri Lanka (ICCSL), the Chartered Institute of Management Accountants (CIMA) and the Daily FT. The Bank is one of only 5 companies to receive an Honorable mention at the annual Most Admired Company Awards for the financial year 2019/20. The coveted award recognises companies, both listed and unlisted, that are a cut above the rest in terms of not just their financial performance but also the value they create for their shareholders, customers, employees and the wider community in general.

The Bank continued to hold its position in the top 10 line up in the 27th edition of the LMD 100, Sri Lanka’s pioneering listed company rankings for the financial year 2019/20. Sampath Bank was placed 5th in profitability and 6th in turnover in the latest edition of the ranking.

According to LMD’s Brands Annual publication for the year 2020, Sampath Bank emerged as the ‘Most Loved Brand’ in the Banking category and was the only bank to feature among the Top 10 ‘Most Loved Brands,’ while it was also ranked 5th in the ‘Most Valuable Consumer Brands’ category, up 2 places from last year. In the list of ‘Most Respected’ Entities in Sri Lanka the bank rose 2 spots to 6th place, while it also moved up one place to 4th on the Business Today Top 30.

In terms of international recognition, Sampath Bank was acknowledged as Sri Lanka’s ‘Best Retail Bank’ and ‘Best Commercial Bank’ for the 7th consecutive year, at the World Finance Banking Awards organized by the UK based World Finance magazine, making it the only Sri Lankan bank to be recognized at this year’s edition and the only bank in the country to have received both these awards every year since 2014. The Banker Magazine also ranked it among the ‘Top 1000 World Banks,’ an adjudication made primarily based on Tier-one capital.

Recognition such as this further underscore Sampath Bank’s strong financials including steady profitability growth and healthy liquidity levels, as well as its steadfast commitment to customer service and innovation, as it looks optimistically towards the future.

Sampath Bank is a 100% local bank that has deeply rooted itself in the lives of the people of Sri Lanka. Established in 1987, the bank has become a state-of-the-art financial institution that continues to be a market leader today thanks to its constant innovation and customer focused approach to business. It has introduced many firsts to the Sri Lankan banking sector including introducing ATMs to Sri Lanka, extended banking hours and slip-less banking to name a few. The Bank continues to steadily transform itself into a technology-driven financial services provider while upholding our traditions and values.



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Business

HNB supports Sri Lanka Welfare Society of Blind Women

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Supporting the livelihoods of visually impaired women, Sri Lanka’s most customer friendly bank HNB PLC donated 300 white canes and dry ration packs to the members of the Sri Lanka Welfare Society of the Blind Women.

The donations made utilizing voluntary contributions gathered by HNB employees, were handed over to members of the Society at a special event at HNB Towers under the patronage of HNB Managing Director and CEO Jonathan Alles.

“HNB is proud to partner with the Sri Lanka Welfare Society of the Blind Women to serve the visually impaired women of the country. Our goal is to do our part in ensuring they are given opportunities, recognition and respect that are equal to every other citizen, and we hope that partnerships of this nature will pave the way for a more inclusive and caring society,” HNB Managing Director and CEO, Jonathan Alles said.

With 252 customer centres across the country, HNB is one of Sri Lanka’s largest, most technologically innovative banks, having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. Over the recent past, the bank was ranked among the World Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine. HNB has a national rating of AA- (lka) by Fitch Ratings (Lanka) Ltd.

HNB was also declared Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020, in addition to winning the coveted Best Retail Bank in Sri Lanka Award for the 11th time at the Asian Banker Awards 2020, in recognition of its sustainable growth and continuous improvements in processes, products and services amidst a challenging macroeconomic environment.

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People’s Insurance enters Medical Insurance market with ‘the most comprehensive medical insurance cover available in Sri Lanka’

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In an unprecedented effort to enhance its product offerings to customers across Sri Lanka, People’s Insurance PLC recently announced its plans to diversify into the health insurance space of the country. This strategic move to establish its presence as a health insurance provider builds on the well-established public image of People’s Insurance as the insurer who cares with love.

As the market is already heavily saturated with health insurance products offered by the competition, Peoples Insurance had the strategic objective of offering a product to make them stand out from the rest. Following a customer first approach, the insurer has decided to be a step above its competitors by offering a highly comprehensive medical insurance cover available in the country.

Citizens of Sri Lanka and those individuals who currently reside in the country are eligible to obtain a medical insurance cover from People’s Insurance. Individuals can be covered from their 5th birthday onwards. However, infants from the age of 3 months can also be protected by these covers provided that their parents have a medical cover from People’s Insurance too.

Jeevani Kariyawasam, the Head of Operations at People’s Insurance PLC commented on this new development, “When People’s Insurance PLC began to contemplate our entry into the health insurance sector, we knew we had to be different. As we are known as the only insurer who cares with love, our health insurance product had to reflect this strongly. Due to this, we decided to position ourselves as an insurance provider with a highly comprehensive product in the health insurance space. With affordable premiums, we have made every effort to ensure that Sri Lankans can enjoy the peace of mind that health insurance brings about.”

Medical schemes will vary from Rs. 100,000 to Rs. 2 million and premiums will depend on the sum insured, along with the customer’s age band. It is also noteworthy that the geographical scope of treatment extends beyond Sri Lanka and into India as well. Costs related to ambulance call outs, inpatient proceedings, surgical treatments, pharmaceuticals, diagnostics and pre and post hospitalization expenses are just a few of the areas that this comprehensive product covers.

As People’s Insurance PLC has a trusted and well established name in the minds of Sri Lankan customers, it is expected that their entrance into the medical insurance sector will be welcomed by citizens across the island. With the underlying goal of caring for its customers beyond anything else, this new development will allow for more Sri Lankans access to proper healthcare services. This decision truly resonates with a purpose beyond profit initiative.

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Browns Investments purchases 9.9 percent stake in HNB, boosting market

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By Hiran H. Senewiratne

CSE activities were positive but not bullish yesterday. Besides, the CSE announcement on a transaction where Browns Investments purchased a 9.9% stake in HNB plus last minute buying interest brought a positive note to the stock market, analysts said. Browns Investments bought 42 million HNB shares in the price range of Rs. 125.75 and Rs. 132.25 for RS 5.3 billion.

This quantum of shares or 9.9 % percent stake of HNB purchased by Brown Investments happened during the months of April and May, market sources said. Amid those developments both indices were positive. All Share Price Index was up by 45.85 points. Turnover stood at Rs. 890.3 million with a single crossing. The crossing is from Sampath Bank which crossed 500000 shares to the tune of RS 26 million and its shares traded at Rs. 52.

In the retail market, top five companies that mainly contributed to the turnover were, J K H RS 189 million (1.4 million shares traded), Browns Investments Rs. 181 million (27.8 million shares traded),Expo Lanka Rs. 53.8 million (1.2 million shares traded), Sampath Bank 50.2 million (1 million shares traded)and Royal ceramic Rs. 47.3 million (1.4 million shares traded). During the day 74.2 million share volume changed hands in 10600 transactions.

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