Business
SDB bank kicks off Financial Year 2022 with Resilient First Quarter
SDB bank has posted a resilient First Quarter of the year, delivering a strong start to the financial year 2022. Accordingly, the Bank recorded a profit of LKR 181 million for Q1, ending 31st March 2022. The Quarter also witnessed Net Interest Income rising to LKR 1,968 million, an increase of 21% compared with Q1 2021. Total operating income too grew by 19% to LKR 2.17 billion during Q1. SDB bank has also emerged among the most stable and well-positioned banks in the current economic environment at the end of Q1. As at 31st March 2022, the Bank’s Capital Adequacy Ratio and all other liquidity ratios are well above regulatory minimum requirements. Furthermore, being a licensed specialised bank, SDB bank’s exposure to foreign currency risks and exchange rate volatility is very limited. Thus, despite the current challenging market conditions, SDB bank remains relatively insulated from currency fluctuation risks.
Commenting on the Q1 performance, Niranjan Thangarajah – Acting CEO at SDB bank said, “Our financial performance results for Q1 demonstrate the resilience, strength and foresight of SDB bank, guided by our highly experienced and qualified staff and leadership team, which is comprised of professionals and business leaders who are experts in their respective fields. Sri Lanka is facing a tumultuous moment in its political and economic history and the shockwaves of the crisis continue to ripple throughout the economy. However, as a result of our strategic positioning, provisioning and vision, we are in a position to continue to deliver exceptional value and performance to our stakeholders. Guided by its diverse & experienced Board of Directors & Senior Management team, SDB bank is presently well-positioned to deliver stability and resilience in the months and years ahead. We look forward to working together with all stakeholders to ensure that we serve Sri Lanka and Sri Lankans at this pivotal period in our Nation’s history.”
A future-ready bank, providing holistic, 360-degree support to its customers, SDB bank is constantly catering to ever-changing needs, through a combination of financial support and value additions to life and business through mentorship and knowledge-sharing focusing on areas such value chain enhancements and financial management. SDB bank is also committed to a sustainable business model in terms of environmental, social and governance sustainability. This commitment is reflected in the Bank’s financing activities, giving preference to businesses and initiatives that take a sustainable approach over those that do not. SDB bank has established itself as a financier that values every customer equally, for their potential and supports the development of individuals and SMEs with a special focus on women empowerment and digital inclusion.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
