Business

Sampath Bank ties personal emotional experience to a larger meaningful mission

Published

1 year ago

2025/02/24

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.

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Business

Middle East tensions may hit tourism and energy sectors

Published

16 hours ago

2026/03/17

Sahan Weerasooriya

Tourists admiring nature’s abundance in Sri Lanka.

Escalating geopolitical tensions in the Middle East involving Iran are beginning to raise concerns here, with analysts warning that the fallout could affect not only the island’s tourism industry but also its energy sector.

Tourism stakeholders say the first signs of a slowdown in visitor arrivals have begun to emerge as airlines and travel operators adjust to disruptions across key Middle Eastern aviation corridors.

According to Harsha Suriyapperuma, Chairman of the Sri Lanka Tourism Development Authority, the current tensions could temporarily influence travel flows mainly due to disruptions affecting major transit hubs in the Gulf region.

A significant share of travellers heading to Sri Lanka from Europe and other long-haul destinations transit through aviation hubs such as Dubai, Doha and Abu Dhabi.

Industry analysts say that when geopolitical tensions escalate in the Middle East, airlines often revise flight paths, cancel services or adjust schedules due to security concerns and airspace restrictions, which can slow tourism flows to destinations like Sri Lanka.

According to a Tourism industry leader, global travel demand is highly sensitive to geopolitical developments affecting major aviation corridors.

He noted that disruptions to Middle Eastern airspace could result in longer travel routes, higher airline operating costs and increased airfares, which may influence the travel decisions of tourists planning long-haul holidays.

At the same time, economists and energy analysts warn that the conflict could also create ripple effects in global energy markets.

Sri Lanka is heavily dependent on imported fuel, and any instability in the Middle East — particularly involving a major oil producer like Iran — could push global crude oil prices upward.

Energy sector sources said rising oil prices would increase the cost of fuel imports and place additional pressure on the country’s foreign exchange reserves.

Higher global oil prices could also raise operational costs in the power generation sector, particularly for thermal power plants operated by the Ceylon Electricity Board, which relies on fuel and coal imports to meet electricity demand.

Analysts say increased fuel costs could eventually translate into higher electricity generation costs and additional financial pressure on the national power utility.

The tourism sector had entered 2026 on a strong recovery trajectory after attracting more than two million visitors last year, with authorities targeting three million arrivals this year.

However, industry experts caution that prolonged geopolitical instability in the Middle East could slow the momentum of Sri Lanka’s tourism recovery while simultaneously creating new challenges for the country’s energy sector.

Despite these emerging risks, officials remain cautiously optimistic that the impact will be temporary if tensions in the region stabilise in the coming weeks.

They stress that Sri Lanka continues to be viewed internationally as a safe and attractive destination, while authorities are closely monitoring developments in global energy markets and aviation networks.

By Ifham Nizam

Business

NDB raises Sri Lanka’s largest Basel III-Compliant Thematic Bond

Published

16 hours ago

2026/03/17

Sahan Weerasooriya

Kelum Edirisinghe - Director, Chief Executive Officer

National Development Bank PLC (NDB/ the Bank) recently announced that it successfully raised LKR 16.0 billion through the issuance of Basel III-compliant Tier II Rated Unsecured Subordinated Redeemable GSS+ Bonds (the GSS+ Bonds), to be listed on the Colombo Stock Exchange (CSE). This issuance marks a major milestone in thematic fundraising within Sri Lanka’s capital markets landscape, signaling the country’s growing progress in the increasingly important segment of sustainable finance.

The GSS+ Bonds issue opened on 10 March 2026 and was oversubscribed within the same day, demonstrating strong demand from both retail and institutional investors. This response reaffirms the confidence investors place in NDB and its overall financial strength and stability. The issuance of the GSS+ Bonds reflects the Bank’s strong environmental and social considerations embedded in its lending practices. For many years, NDB has maintained a robust Environmental and Social Management System (ESMS) ensuring that funds are directed toward environmentally and socially responsible projects and causes.

NDB’s GSS+ Bonds will be deployed to finance eligible Green (including Blue), Social, Sustainability, and Sustainability-Linked projects, supporting environmentally responsible, socially impactful, and sustainable economic development.

Business

HNB General Insurance fastest in reaching LKR 11 Bn. revenue (GWP) within 10 years of operations

Published

16 hours ago

2026/03/17

Sahan Weerasooriya

Stuart Chapman - Chairman / Sithumina Jayasundara –CEO

HNB General Insurance Limited (HNBGI) announced its financial results for the year ended 31 December 2025, marking a milestone year of accelerated growth, strengthened financial resilience, and sustained business momentum.

The Company recorded a Gross Written Premium (GWP) of LKR 11.0 billion for 2025, reflecting a robust 21% growth compared to LKR 9.1 billion in 2024. This performance significantly outpaced the industry’s growth of 15%, demonstrating the Company’s strong competitive positioning, disciplined execution, and continued customer confidence. With this achievement, HNBGI becomes the first general insurer in Sri Lanka to reach the LKR 11 billion GWP milestone within ten years of operations. The Company also improved its market position, moving up to 6th place from 7th in Sri Lanka’s general insurance sector.

The Fire segment emerged as a standout contributor with a 27% growth, reaching LKR 2.4 billion, while the Motor portfolio grew by 25% to LKR 6.0 billion. Marine recorded a steady 16% increase to LKR 378 million, and the Miscellaneous segment contributed LKR 2.2 billion. The broad-based growth across segments reflects HNB General Insurance’s balanced portfolio, effective distribution reach, and strong customer confidence.

The Company demonstrated its unwavering commitment to customers through timely and efficient claims management, committing LKR 2.5 billion towards Ditwa cyclone-related claims. In addition, a further LKR 4.7 billion was paid in claims across all other segments during the year, underscoring the Company’s financial strength and reliability in times of need.

The Company’s financial strength further consolidated during the year, with Total Assets growing by a significant 31% to LKR 13.38 billion, while Funds Under Management increased by 9% to LKR 6.74 billion. The Capital Adequacy Ratio remained well above regulatory requirements at 190%, reflecting a solid capital base to support future growth.