12. Sampath Bank

Left: **Harsha Amarasekera, PC**, Chairman/Non-Independent, Non-Executive Director.
Right: **Nanda Fernando**, Managing Director/Executive Director

Amidst the challenges, Sampath Bank has proved that its strong persona of resilience, robustness, and agility is the formula for always being a step ahead in meeting customer aspirations.

Reaching a historic milestone

Sampath Bank’s prudent financial and management discipline allowed the Bank to reach historic milestones amidst roadblocks.

Sampath Bank made history as the youngest Bank in Sri Lanka to accumulate a Rs 1 trillion asset base. The Bank’s total asset base grew by 15.4% to exceed the trillion mark with Rs 1.1 trillion as of 31^stDecember 2020, from Rs 962 billion as of 31^st December 2019.

Sampath Bank recorded a profit before tax (PBT) of Rs 11.2 billion and a profit after tax (PAT) of Rs 8.0 billion for the year ended 31^st December 2020. These are notable achievements given the government-led economic stimulus packages bringing pressure on the Bank’s Net Interest Margins (NIM).

The Bank’s total deposit base reached Rs. 886.9 billion as of the reporting date, reflecting an increase of 23.5% over the previous year, while the CASA ratio stood at 35.2% increased 39.3% by 31^stDecember 2020. The fact that term deposits and savings have both grown significantly despite the low rate environment speaks volumes about the public trust and confidence in the Sampath brand.

Tangibalising ‘Banking at your fingertips’

Process optimization across the full range of Sampath Bank’s activities was vital and prompted the Bank to develop strategies to harness and leverage group synergies within the Sampath Group. This included its leasing and finance subsidiary Siyapatha, IT subsidiary Sampath Information Technology Solutions, which focuses on digital banking transformation, and stockbroking subsidiary, SC Securities. Digital transformation will continue to be a key component of the Bank’s strategic journey and online banking platforms.

The Bank has consistently driven its precept of ‘banking at your fingertips.’ With digital banking transformation driving its future, the Bank is confident that its customer experiences will improve across multi-dimensional genres. At the same time, cost optimization through process optimization will add value to its forward journey.

Reigniting the Country’s economic recovery

Sampath Bank went beyond the regulatory mandated relief measures and mapped out its relief efforts under “Revive Sri Lanka”. The focus of this initiative was to allow the SME sector to reignite the country’s economic recovery.

The “Revive Sri Lanka” initiative kicked off in mid-2020 with the launch of a Bank-funded particular loan scheme to enable manufacturing and export-related SMEs to access funding at a concessionary interest.

Demonstrating commitment to the wider community

Considering the challenging year for rural farmers whose livelihoods were threatened by district-wise mobility limitations and other COVID-19 related restrictions, the Bank avidly continued with their tank restoration program, its flagship community initiative. The program has been responsible for restoring a total of nine tanks since first being launched in 2001.

Harsha Amarasekera, PC

Chairman/Non-Independent,
Non-Executive Director

Nanda Fernando

Managing Director/Executive Director

1. Rushanka Silva

Deputy Chairman/Non-Independent, Non-Executive Director

2. Deshal de Mel

Senior Independent Director Non-Executive Director

3. Annika Senanayake

Independent, Non-Executive Director (Retired w.e.f. 01.01.2021)

4. Ranil Pathirana

Non-Independent, Non-Executive Director (Retired w.e.f. 01.01.2021)

5. Dilip de S Wijeyeratne