~ Becomes Youngest Local Bank to Cross Rs. 1 Trillion in Assets, Despite Turbulent Global Market Conditions ~
Colombo : 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,” saidNanda 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.