Sampath Bank to create history as ‘Asia’s Best Bank for Corporate Responsibility’

Wednesday, 14 August 2024 00:10 - - {{hitsCtrl.values.hits}}

Sampath Bank is set to receive the prestigious ‘Asia’s Best Bank for Corporate Responsibility’ award at Euromoney’s Awards for Excellence 2024, to be held on 12 September in Singapore.

This accolade highlights Sampath Bank as the sole Sri Lankan bank to be honoured on this date, showcasing its remarkable commitment to corporate responsibility and sustainability.

Sampath Bank’s CSR initiatives in 2023 reflect its dedication to creating a lasting impact with a focused budget. With Rs. 91.3 million ($ 300,000) allocated to various projects, the bank has managed to make significant strides in environmental and social sustainability. The bank’s commitment is further emphasised by allocating 1% of its net profit to these initiatives, supporting 84 projects and benefitting thousands of individuals.

“We prioritise sustainability as the top-most objective of CSR,” states Managing Director Ayodhya Iddawela Perera. “As a national bank, we must shoulder greater responsibility in assuring sustainability amid current economic, social, and environmental challenges. We are committed to tackling the root causes of these challenges, not just their symptoms, but relying on a collaborative model built on the bank’s ethos.”

Perera further elaborated: “Being recognised as ‘Asia’s Best Bank for Corporate Responsibility’ by Euromoney is a monumental honour for Sampath Bank. As the only Sri Lankan bank to receive this award in September, it reaffirms our dedication to sustainability and highlights the collective efforts of our bank leadership, ‘Team Sampath’, and the community.”

Among the bank’s flagship initiatives is the ‘Wewata Jeewayak’ Tank Restoration Program, which aims to restore the island nation’s ancient tank cascade system, a 2,000-year-old irrigation structure vital for agriculture and livelihood. By restoring 25 tanks by August 2024, Sampath Bank is ensuring a steady water supply for farmers and communities.

Other notable programs include a partnership with the University of Colombo and 88 schools to create a green corridor by planting tens of thousands of trees. Additionally, the bank is involved in coral reef restoration, mangrove conservation, protecting turtles, and addressing human-elephant conflicts in collaboration with wildlife organisations and charities.

Sampath Bank’s commitment extends to healthcare through its ‘Hope for a Life’ program, which includes the ‘Adopt an Ambulance’ campaign. This initiative has provided Rs. 50 million to maintain 10 ambulances, significantly improving emergency services in rural areas.

Furthermore, the bank’s efforts in financial inclusion, digital services enhancement, and partnerships with telecommunications firms are helping bring banking services to underprivileged populations.

This award places Sampath Bank alongside global giants such as HSBC, Citibank,

United Overseas Bank (UOB), DBS Bank, and Morgan Stanley, further cementing its reputation as a leader in corporate responsibility. As the bank celebrates this milestone, it continues to strive towards greater sustainability and community impact.