Sampath Bank is Euromoney’s “Best Bank in Sri Lanka” for the 5th time

Thursday, 3 August 2023 03:08 - - {{hitsCtrl.values.hits}}

Sampath Bank Managing Director Ayodhya Iddawela Perera (second from right) with the Euromoney award, others from left: Euromoney Asia Content Head Sze Toh Yuin Munn, Sampath Bank Deputy Treasury Delinian General Manager Prassantha De Silva and Euromoney Asia Editor Elliot Wilson

Sampath Bank has been honoured with the esteemed “Best Bank in Sri Lanka” award by Euromoney for the year 2023.

This recognition acknowledges the bank’s remarkable achievements, reaffirming its commitment to excellence in the banking industry.

The accolade was presented to Sampath Bank’s Managing Director Ayodhya Iddawela Perera during the grand award ceremony held in Hong Kong recently. Euromoney Awards for Excellence are renowned for recognising top-performing banks globally, making this recognition a testament to Sampath Bank’s exceptional performance and dedication to delivering world-class financial services.

Speaking on this achievement, Managing Director Ayodhya Iddawela Perera said: “We are deeply honoured to be recognised as the ‘Best Bank in Sri Lanka’ by Euromoney for the fifth time in the last 10 years. With a drive to provide world-class financial services, backed by a relentless pursuit of excellence, this award motivates us to strive even harder to meet the evolving needs of our valued customers and deliver innovative solutions that empower their financial aspirations. I would like to extend my heartfelt appreciation to all our stakeholders, including our customers, employees, and partners, for their support and trust in Sampath Bank.”

Sampath Bank has a history of accolades from Euromoney, having secured the “Best Bank in Sri Lanka” award on four previous occasions: in 2013, 2014, 2016, and 2017. Winning this prestigious award for the fifth time in the last 10 years further fortifies Sampath Bank’s position as a trailblazer within the local banking industry. Despite the extremely adverse conditions present in Sri Lanka over the past year, the Bank was still able to display a standout performance.

Country awards in the larger markets in Asia-Pacific included the award for Best Bank in Hong Kong which went to HSBC; Best Bank in Singapore to UOB; Best Bank in China to China Merchant Bank and Best Bank in Malaysia to CIMB Bank.

Euromoney Magazine, a distinguished UK-based publication, bestows these prestigious awards based on detailed submissions by market participants and extensive year-round research into the banking and capital markets in the region. Sampath Bank was assessed on metrics including market capitalisation; total revenue; pre-tax profit; net income; return on tangible common equity; return on assets; net interest margin; cost-to-income ratio; Basel III tier-1 capital; market share of deposits; market share of loans; loan-to-deposit ratio; non-performing loan ratio; and non-performing loan coverage ratio.

The Euromoney Awards for Excellence serve as a platform to highlight the outstanding contributions of banking institutions worldwide. Euromoney Magazine is renowned for its coverage of global banking, macroeconomics, and capital markets, regularly featuring top-ranking chief executives and influential figures within the financial sector.