Business
NSB announces ‘strong recovery in 2023’, despite challenges
The National Savings Bank (NSB) announced a robust recovery as reflected in the 2023 annual report, which was presented to President Ranil Wickremesinghe. Despite operating in a challenging economic environment, the NSB has demonstrated significant resilience and growth.
An NSB press release said: ‘This impressive performance underscores the Bank’s commitment to financial stability and growth, even in the face of adverse economic conditions. The management attributes this success to strategic planning, operational efficiency, and a steadfast focus on customer service.
‘The National Savings Bank, the largest Licensed Specialized Bank in Sri Lanka is pleased to present its Integrated Annual Report – 2023, themed “Shaping our Mettle”, reflecting its performance within the framework of the economy and its relationship to the social and environmental facets. At our core, we are an institution committed to fostering a healthy, sustainable, and secure savings protocol for all people of the Nation. Today, the Bank stands as one of the country’s strongest and safest financial institutions.
‘Following the concept of concise communication about the Bank’s performance, strategy, governance, and prospects in the context of its external environment, the report contains comprehensive insights about managing capital inputs and value creation process over the short, medium, and long term, towards its stakeholders and a detailed analysis of the Bank’s corporate governance, risk management practices and statutory reports along with external auditor’s opinion and annual financial statements for the year ended 31st December 2023.
‘The Annual Report of National Savings Bank 2023 was officially presented to President Ranil Wickremesinghe and the Minister of Finance, Economic Stabilization, and National Policy, by the chairman, NSB, President’s Counsel, Dr Harsha Cabral, and to the President’s Secretary,. Saman Ekanayake, by the General Manager/CEO, Ms. Shashi Kandambi, on May 28, at the Presidential Secretariat.
‘We are navigating through challenges of internal and external drivers, interdependencies, and trade-offs that influence our ability to create value for our stakeholders in the short, medium, and long term. NSB rose to the fore amidst these unprecedented challenges faced by Sri Lanka, delivering a stable performance for its stakeholders and supporting its customers during turbulent times to build confidence and ensure financial security. The Bank is geared to provide sustainable performance under the strong leadership of the Chairman, President’s Counsel, Dr. Harsha Cabral, the Board of Directors, GM/CEO Ms. Shashi Kandambi, and the Management of the Bank, with an approach towards excelling in digitalization.’
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.”
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