Sampath Bank celebrates 25 years of truly Sri Lankan banking

The Sampath Bank last week marked a significant milestone in its journey, celebrating the silver jubilee, period in which it changed the financial landscape with revolutionary IT innovations and unsurpassed customer service.

Incorporated as the “Investment and Credit Bank Limited” in March 1986, the Bank opened its doors for its very first customer on 25 March 1987 during its initial soft opening. 

It later adopted the name of Sampath Bank, conveying its brand ethos of wealth and prosperity to the people, by the people. Today, Sampath is the third largest private sector commercial bank in the country, with a network of 209 branches across the island, and over 3,000 employees.

Beginning as a  ‘truly Sri Lankan Bank meant for the sons of the soil’, the Bank has maintained its commitment to being a truly local Bank, and works under the tag line of ‘A Bank for all Sri Lankans.’

“While Sampath has progressed immensely in the past twenty five years, we have every intention of outdoing ourselves in every way possible in the future,” said Sampath Bank Chairman Dhammika Perera. “Since day one we’ve seen ourselves as a Bank with a difference and I’m confident that the recently appointed board of directors, experienced corporate management, and committed staff will continue to push the boundaries within the industry to better serve our customers.”  

From the very beginning they focused on two key strengths: IT innovations and customer service.

The Bank is renowned for ushering several technological advances in the Banking arena including its inter-connected ATM network and South Asia’s very first debit card – SET, the Uni-Banking concept, enabling customers to access their account at any Sampath branch and Sri Lanka’s first Master card and Visa Infinite, Signature and Platinum credit cards. Its array of firsts includes launching cheque imaging and truncating services, introducing real-time e-remittance services and the Sampath ‘Easy Cheque Deposit’ (ECD) system enabling customers to deposit their cheques 24/7 at any ATM without the hassle of filling in forms etc via using their ATM card.

“One of the reasons the bank came into being was because the founders saw the need for an innovative, truly Sri Lankan bank and we’ve done our best to accomplish that with technological innovations wherever possible,” stated Sampath Bank Managing Director Aravinda Perera.

The Bank has also maintained its dedication towards creating a personalised and satisfying banking experience for their consumers throughout the years, incorporating Sri Lanka’s trademark hospitability and warmth into their company culture. Their commitment to customer service was highlighted right at the beginning when they introduced extended banking hours 25 years ago – a novel concept at the time. Many of the bank’s innovative ventures facilitate convenience and ease for their customers such as their same day cheque clearance service and the introduction of the super bank concept allowing customers to bank between the hours of 7a.m. and 10p.m. 365 days a year.

 The Bank’s loyalty towards customer service is further exemplified through ventures such as Sampath Vishwa – the Bank’s virtual account opening facility that gained recognition at last year’s NBQSA Awards, which was launched to create more time for their customers; Sampath Sanhinda – a savings account designed especially for senior citizens that includes a bi-monthly interest payment, a facet unique to the Bank and featuring a range of discounts and offers for individuals over the age of fifty including free health check-ups; Sampath SS – the first savings account to offer a bonus interest on the existing interest and Kalin Cash – a novel concept in fixed deposits where customers can receive their interest at the time of opening the deposit.

With 209 bank branches located island wide, the Bank further expanded its reach to 1,600 locations when it pioneered ATM network in partnership with other banks, enabling customers to access their money via HNB, BOC, Union Bank, DFCC Vardhana, Pan Asia Bank, NSB, HDFC and NDB Bank ATM machines with the goal of facilitating convenient banking for their customers.

“When the Bank opened 25 years ago, it introduced a very novel concept to Sri Lankan banking with its extended banking hours, with the bank remaining open till 3p.m. daily and since that day we’ve done our very best to go out of the way to introduce concepts and services to make our customers’ lives easier, whether it’s same day cheque clearance or introducing the Super Banking concept,” stated Perera.  

Thirteen of the Bank’s very first employees also celebrate their 25th year with the Bank on this auspicious day.  

The Bank holds a unique place in the Sri Lankan banking arena, for its commitment towards being a truly indigenous bank, be it via the logo symbolising a ‘punkalasa’ utilising a historic symbol of prosperity and sustenance or employees who don traditional saris and greet you with ‘Ayubowan’ paying homage to the values and heritage of Sri Lanka.

Sampath has four subsidiary companies – Sampath Leasing and Factoring Ltd dedicated to leasing and factoring services; SC Securities (Pvt) Ltd. responsible for stocker brokering services; Sampath Information and Technology Solutions Ltd working on IT services and Sampath Center devoted to property development.