Another success story

Saturday, 2 March 2019 00:10 - - {{hitsCtrl.values.hits}}

Reading about N.U. Jayawardena’s Founder’s Day activities early this week in Daily FT, I recalled the coffee table book we did for Sampath Bank to mark its 25th anniversary seven years back. Though NU had passed away (in 2002) he figured prominently throughout our assignment. The Chairman’s Reviews in the annual reports during his tenure were a pleasure to read and we picked valuable information on the progress of the bank in the early years.

The birth of Sampath Bank itself was a fascinating story. It all started when the World Fellowship of Buddhists (WFB) passed a resolution in November 1980 that a Buddhist international bank should be established due to the step-motherly treatment that the Buddhist entrepreneurs got at the time.

Nothing was heard of the proposal for one-and-a-half years until a committee was appointed under the chairmanship of NU. It took another two years to accept the committee’s recommendation that a bank identifying the ethics of Buddhism be established rather than linking the name to Buddhism. The bank was to be located in Sri Lanka. Things moved swiftly thereafter and the bank was incorporated on 10 March 1986 as the ‘Investment and Credit Bank Limited’ with NU as chairman. A year later the bank was opened.

The original name lasted only five months when it was changed to Sampath Bank – the name used in Sinhala right along – when it was found that it read better and was easy to remember.

Those who either joined the bank at its inception or those who had dealings found NU an interesting personality. Experienced banker Kumar Weerasuriya related the story how he was recruited by NU. When he applied he was asked to come to NU’s residence one morning. When he came he was ushered upstairs to his bedroom where he found NU in his pyjamas. He was interviewed there and asked to join as early as possible. Kumar W was the first to be recruited. How NU selected the advertising agency to plan the bank’s initial media campaign is equally exciting. Head of Phoenix Adverting Irvin Weerackody gets a call one morning. ‘My dear chap, are you free to see me today at 5 o’clock at my house?’ he is asked. It’s NU at the other end.

Irvin meets NU sharp at 5 at his library. NU talks on and on for 40 minutes. He describes his vision for the bank. He then stops and asks, “how would you set about getting a campaign going?’’. It’s a tough ask but Irvin has to respond. He asks for a piece of paper and draws something like a tortoise. He writes a headline: ‘The hare and the tortoise’. ‘This is the way I would like to start the campaign,’ he tells NU.

Irvin explains the concept: Although a late starter in the banking landscape, we would not take anything for granted like the proverbial hare.

NU chuckles delightfully. He approves the concept with his characteristic gesticulation of the right hand.

The campaign is a total success and becomes the talk of the town.

This is just a glimpse of another success story of the man about whose achievements so much has been written over the years.