‘Regaining momentum amidst continuing headwinds’

While the pandemic is undoubtedly one of the most formidable challenges Sri Lanka has encountered in recent years, it is believed that the collective response of the local banking sector has helped the country as a whole, to handle the unexpected economic downturn in 2020.

Sampath Bank too faced many challenges in adjusting to the pandemic. Transitioning into a fully digital environment and an entirely new operating model under pandemic related restrictions was no easy feat. However, thanks to the solid progress made on the digital front in the recent past, the bank was able to make the transition in a matter of days to ensure uninterrupted operations. Equally importantly, Sampath Bank played a vital role in stabilizing the economy through the disbursement of the relief package for COVID affected businesses and individuals. The Bank extended the phase I of the Covid – 19 debt moratorium to over 50% of its loan book last year while 29% of the loan book remained under phase II of the debt moratorium in 1Q 2021 as well. Sampath Bank also actively participated in disbursing the Saubhagya Renaissance scheme to eligible customers. Where necessary, the bank also took its own initiatives to assist customers to tide over the difficult times.

As the pandemic situation continues to evolve and bring fresh challenges, Sampath Bank capitalized on the lessons learnt in the past to strengthen resilience and accelerate its transformation to the post-pandemic world. At the same time, the bank reiterates its commitment in rolling out the new relief measures proposed for 2021.

Meanwhile, the Bank subdivided its ordinary shares in the proportion 01:03. As a result, the number of shares increased from 381,457,985 to 1,144,373,955. Sampath Bank