Business
Sampath Bank ties personal emotional experience to a larger meaningful mission
By Sanath Nanayakkare
More than 20 years ago, Sampath Bank recognised the immense value of the ‘Wewa’ system, a critical component of paddy-irrigation in Sri Lanka. In this context, Sampath Bank PLC’s ‘Wewata Jeewayak’ programme is a dedicated effort to restore the traditional irrigation network constructed by the ancient kings of Sri Lanka. This initiative aims to rebuild tanks that have suffered neglect and ruin over time. The primary goal of the ‘Wewata Jeewayak’ programme is to ensure a dependable year-round water supply for farmers in the dry zone, enabling them to cultivate paddy lands and harvest both Yala and Maha cropping seasons while having access to drinking water. This endeavour safeguards the livelihood of this vulnerable segment of society while ensuring the sustainability of the country’s ‘genuine’ rice suppliers. Sampath Bank is supported in this endeavour by the Mahaweli Authority of Sri Lanka, the Department of Agrarian Development, and the Farmers Association in the regions.
Just ahead of the completion of the restoration of the 25th irrigation tank, Sampath Bank premiered a short film last week for the media, illustrating the essence of its work in this worthy cause.
The film’s storyline, as seen through the eyes of a print media journalist, unfolds as follows:
The silver screen in the dark auditorium engulfs a remote, arid region in southern Sri Lanka, where the landscape is harsh and unforgiving. Makeshift houses are scattered far apart, isolated from each other, and the scorching sun beats down on the parched earth. Life here is a daily struggle, especially for water, which is scarce and precious.
A well-dressed, middle-aged gentleman, clearly an urban elite from Colombo’s corporate world, travels alone in his pickup truck, navigating the rugged terrain. Suddenly, his truck’s engine begins to overheat, and he realizes he needs water to cool it down. Desperate, he looks around but sees no one in sight. The vast emptiness of the landscape amplifies his anxiety.
Just as hope seems lost, he spots an elderly farmer in the distance. The farmer, weathered by years of hardship, approaches with quiet dignity. The urban elite explains his predicament, and without hesitation, the farmer disappears into his modest home and returns with a plastic container holding some water, a significant portion of his meager supply. The farmer hands it over without a word, his silent generosity speaking volumes.
As the urban elite continues his journey, he circles the village and witnesses the immense struggle the villagers face to access water. He sees women and children trekking long distances, carrying heavy containers on their heads and carts, their faces etched with exhaustion. Among them is the elderly farmer, who had so selflessly shared his precious resource.
Weeks later, the farmer is visited by a uniformed driver who informs him that the urban elite wishes to see him. Curious, the farmer is taken to a dried-up tank in the village. There, he finds the urban elite, who has initiated a project to restore the tank, enabling it to collect and store rainwater for the community. The farmer is overwhelmed with gratitude, realizing the profound impact this will have on his life and the lives of his fellow villagers.
The story reaches its emotional climax when it is revealed that the urban elite is a key decision-maker at Sampath Bank. Inspired by the farmer’s selflessness and the village’s plight, the bank has undertaken a mission to restore ancient water tanks across the country. To date, they have restored 24 tanks and are in the process of starting the 25th. The farmer’s act of kindness has sparked a ripple effect, transforming countless lives.
The film ends with the farmer and his community celebrating their newfound access to water, their faces radiant with joy and relief. The urban elite watches from a distance, a quiet smile on his face, knowing that his journey to this remote village has not only changed their lives but also his own.
Portraying the struggles of a poor peasant in a harsh, unforgiving terrain, versatile actor Sarath Kothalawala delivers a performance that is nothing short of extraordinary. His portrayal of the humble farmer, who selflessly donates his hard-collected water, is imbued with such depth and authenticity that it transcends the screen. Sarath breathes life into the character with a raw, emotional intensity that leaves an indelible mark on the viewer. Not a single pair of eyes in the auditorium remained dry, as his performance evoked a profound sense of empathy and admiration. Sarath Kothalawala has truly elevated the art of performance, making the character’s sacrifice and humanity resonate deeply with all who witness it.
Sampath Bank’s short film masterfully leverages the actor’s talent and the power of its theme song to transform the script into a compelling infomercial that prioritises substance over salesmanship. By doing so, it enables viewers to gain a deeper appreciation for the genuine impact of the Bank’s ‘Wewata Jeewayak’ CSR programme.
The Ceylon Electricity Board (CEB) has announced an international call for proposals to develop two 50 MW wind farm facilities in Mullikulam on a Build, Own & Operate (BOO) basis. The initiative aims to bolster Sri Lanka’s renewable energy capacity, aligning with the government’s strategy to increase the share of clean energy in the national grid.
The bidding process, launched on behalf of the Cabinet Appointed Negotiating Committee, invites local and international project proponents to finance, design construct and maintain the wind farms under a 20-year agreement. The deadline for proposal submissions is June 12, 2025.
A senior electrical engineer at the CEB, speaking on the significance of the project, told The Island Financial Review: “This initiative is a crucial step towards achieving Sri Lanka’s renewable energy goals. Wind power is a key component of our strategy to reduce reliance on fossil fuels and enhance energy security.”
According to the CEB, interested parties can obtain the Request for Proposal (RFP) document by paying a non-refundable fee of Rs. 300,000 (or USD 1,035 for foreign applicants). The RFP provides comprehensive details on project requirements and evaluation criteria.
“Given the global shift towards clean energy, we expect strong interest from both local and international developers. This project not only supports our sustainability targets but also creates investment opportunities in Sri Lanka’s energy sector, the engineer added.
The wind farm project is part of a broader initiative to achieve 70% renewable energy generation by 2030, a key target set by the Ministry of Energy. Experts believe that projects like these will play a vital role in stabilizing electricity supply and reducing carbon emissions.
by Ifham Nizam
LOLC once again emerges as the “People’s Financial Services Brand of the Year”, securing the prestigious title bestowed at the SLIM Kantar People’s Choice Awards 2025 for an unparalleled ninth consecutive year. This recognition, conferred through a comprehensive consumer research, reflects the brand’s firm connection with the Sri Lankan people and its consistent leadership in financial services.
Unlike many industry awards, the SLIM Kantar People’s Choice Awards is determined by independent consumer research conducted by Kantar, a global leader in brand insights. Instead of relying on a judging panel, this recognition is purely based on public perception, brand recall, and customer loyalty, making it one of the most authentic measures of a brand’s standing. Securing this title for ninth consecutive years highlights LOLC’s deep-rooted connection with its customers and its ability to evolve with their changing needs while maintaining a firm commitment to excellence.
Kapila Jayawardena-
Group Managing
Director/CEO of LOLC
Holdings PLC
LOLC’s continued success is driven by its assurance to financial empowerment, innovation, and inclusiveness. It has redefined accessibility to financial services by reaching underserved communities and pioneering digital transformation. Beyond its core financial solutions, LOLC is a brand that stands with the people, for the people, embodying resilience and hope through the years. In times of crisis, be it economic hardships or global disruptions, LOLC has remained a pillar of strength, stepping in when the nation needed it most. This deep-rooted connection with the people is what truly sets LOLC apart. The company has also been recognized for initiatives that create real social impact, such as the Divi Saviya Humanitarian Project, which uplifts vulnerable communities through sustainable support.
Orient Finance PLC has reported an outstanding financial performance for the nine-month period ended December 31, 2024, showcasing significant growth in key financial indicators compared to the corresponding period in 2023.
The Company recorded a remarkable 161% increase in profit after tax, reaching Rs. 254.6 million compared to Rs. 97.6 million in the same period of the previous year. Net interest income surged by 37%, amounting to Rs. 1.66 billion from Rs. 1.21 billion, demonstrating strong portfolio growth and enhanced operational efficiencies.
Total assets expanded by 28%, rising to Rs. 25.3 billion, while loans and receivables increased by 36% to Rs. 19.76 billion. The Company’s deposit base grew to Rs. 15.12 billion, marking a 19% increase, reflecting continued customer confidence. Meanwhile, total equity improved by 12%, standing at Rs. 3.86 billion.
Earnings per share (EPS) grew 163% to Rs. 1.21, up from Rs. 0.46, while net assets per share (NAPS) rose by 12% to Rs. 18.27.
For the month of December 2024, Orient Finance reported a Cost-to-Income Ratio of 68%, reflecting continued efforts towards cost management amidst challenging market conditions. The Gross Non-Performing Loan (NPL) Ratio stood at 9.62%, while the Provision Cover was maintained at a healthy 65.37%, demonstrating company’s prudent approach to credit risk management. As the quarter ended 31st December 2024, Orient Finance’s Tier 1 Capital Ratio stood at 13.14%, with the Total Capital Ratio recorded at 13.16%, both remaining comfortably above the minimum regulatory requirements.
Commenting on the results, Rajendra Theagarajah, Chairman of Orient Finance PLC, stated, “These exceptional results underscore our commitment to sustainable growth and operational excellence. Our focus on innovation and customer-centric financial solutions has strengthened our position in the market. As we continue to evolve, we remain dedicated to offering innovative financial products that meet the diverse needs of our customers while driving long-term shareholder value.”
JMSDF MURASAME departs island
Heavy showers about 100 mm can be expected at some places in Western, Sabaragamuwa, Southern and Uva provinces
UK sanctions Shavendra, Wasantha, others in line with Labour party’s election pledge – Secretary of State
-
Business5 days agoCargoserv Shipping partners Prima Ceylon & onboards Nestlé Lanka for landmark rail logistics initiative
-
News3 days agoSeniors welcome three percent increase in deposit rates
-
Features3 days agoThe US, Israel, Palestine, and Mahmoud Khalil
-
News3 days agoScholarships for children of estate workers now open
-
Business5 days agoSri Lankans Vote Dialog as the Telecommunication Brand and Service Brand of the Year
-
News4 days agoDefence Ministry of Japan Delegation visits Pathfinder Foundation
-
Features5 days agoThe Vaping Veil: Unmasking the dangers of E-Cigarettes
-
News5 days ago‘Deshabandu is on SLC payroll’; Hesha tables documents