Sampath Bank has long set benchmarks in Sri Lanka’s banking sector, blending innovation with customer-focused service to reshape the way financial services are delivered. From introducing the country’s first interconnected ATM network to pioneering digital solutions, Sampath has earned a place among Sri Lanka’s top five banking brands, with a brand value of Rs24.8 billion at the end of 2024. Today, as the bank expands its loan portfolio and strengthens its digital leadership, it is evolving once more to serve a new generation of customers. Ayodhya Iddawela Perera, Managing Director of Sampath Bank and Tharaka Ranwala, Chief Marketing & Bancassurance Officer of Sampath Bank, share how the bank is building on its legacy to stay resilient and relevant in a fast-changing financial landscape.
Healthy credit growth can be considered an indication of economic recovery. How has this economic rebound translated at Sampath Bank, which holds one of the largest growing asset pools in the country?
Ayodhya: After a period of significant economic contraction, Sri Lanka’s economy showed signs of recovery towards the latter part of 2023, driven by many factors, including stabilising inflation and successful debt restructuring efforts. Corporate clients who paused their investments and expenditure during the crisis are now looking at borrowing to scale and grow their operations, especially SMEs. This has been an extremely positive indicator of Sri Lanka’s economic rebound for us at Sampath Bank. In 2024, our assets grew by 15.3% to reach Rs1.8 trillion, with the loan book alone expanding by Rs82.6 billion. SMEs were the hardest hit since larger corporations had reserves to fall back on. However, with this revival, we can see how SMEs are rebounding faster, serving as yet another positive indicator.
Ayodhya Iddawela Perera, Managing Director of Sampath Bank
Which segments demonstrate faster growth postcrisis, as reflected in the Sampath Bank loan book?
Ayodhya: The growth momentum of Sri Lanka’s tourism sector has been extremely encouraging. It has helped strengthen dollar liquidity in the market while also creating new lending opportunities across the interconnected tourism ecosystem. The SME and Retail loan portfolio at Sampath Bank expanded by 6.7% as at end-December 2024 and stemmed primarily from the tourism sector, as well as other industries such as healthcare, manufacturing, agriculture and trading.
Looking at large and mid-scale corporations, we see a growing demand for more working capital. The depreciation of the Sri Lankan Rupee necessitates businesses to obtain additional credit even to maintain the same operational volume as before. There was also reasonable credit demand from the power and energy sector. Sampath Bank has maintained a strong portfolio covering solar as well as hydro-power projects across Sri Lanka over the years. We’ve also formalised agreements with third parties to offer additional concessions to customers who wish to invest in solar energy.
What specific investments, digital or otherwise, have been made in recent years to strengthen Sampath Bank’s reputation as a technology pioneer in Sri Lanka’s banking sector?
Tharaka: Innovation has always remained a priority for Sampath Bank, and the results are reflected in the strong reputation we’ve built over the years as a technology pioneer in the banking sector. We continue to embrace digital innovation and have invested over Rs2 billion in 2024 to enhance our digital and IT infrastructure, powering over 40 million transactions across our digital platforms, Sampath Vishwa and WePay.
Tharaka Ranwala, Chief Marketing & Bancassurance Officer of Sampath Bank
We’ve introduced several pioneering banking technologies to the local market, including the country’s first interconnected ATM network and its first debit card (SET). Another milestone was the launch of our revolutionary ‘Touchless Cash Withdrawal’ solution, which was an innovative, preventive measure introduced during the COVID pandemic. It allowed Sri Lankans to withdraw cash by scanning a QR code, without having to touch the machine. Sampath Bank was also the first to introduce the Virtual Teller Machine (VTM) that provides most key banking facilities, including account opening, fund transfers, and debit card issuance, among other standard services.
We have long been at the forefront of digital payment solutions. Most recently, we became the first bank in Sri Lanka to launch a standardised Application Programming Interface (API) platform, helping redefine corporate banking by automating complex financial processes for businesses, from SMEs to large corporates. Sampath Bank also introduced Sampath Select, the country’s first fully automated, AI-powered personal loan solution. This paperless platform delivers intelligent loan approvals through real-time analysis of customer data, setting a new benchmark in the market.
All our investments in data, systems and hardware remain solution-oriented, where we analyse patterns to understand and address identified gaps in customer journeys. Such disruptive technological advancements reaffirm Sampath Bank’s position as a pioneer in digital banking technologies, and a frontrunner in utilising data intelligence to hyper-personalise and enrich customer experiences, convenience and speed in banking services.
What truly helped Sampath Bank navigate through periods of credit contraction? What aspects made the Bank resilient while maintaining balance sheet stability?
Ayodhya: Sampath Bank’s growth since its inception in 1987 has been driven by investing in three core areas: technology, people and customers. Through decades-long investments across these areas, we have successfully built a strong, resilient foundation that has helped us withstand unprecedented challenges, especially over the past three years.
In terms of customers, Sampath Bank has fostered strong customer relationships and has remained by their side with unwavering dedication, especially during the past few extremely challenging years. Rather than looking at new lending or lending growth with our customers, we were engaged in restructuring their debts, even going into granular levels of transactions to support business continuity through our Business Revival Unit (BRU).
Ultimately, strong customer relationships are a result of strong internal relationships. We always look at ourselves as a family, a culture that was imbued at Sampath Bank from its very inception. As a team, we have cultivated a strong sense of belonging that enables us to work collaboratively to overcome challenges, while also celebrating our victories and successes together.
As a result of this team culture, Sampath Bank became a serious competitor among the giants in the industry within three decades of operation.
Our current team of 4,000+ professionals is always assured of being looked after by the Bank, especially during the stormiest weather. We also understood the need to advance our internal expertise to advise and guide clients on how to navigate their businesses and the debt restructuring process. That’s why we invested heavily in training our teams and equipping them with the knowledge and skillsets to address specific crises successfully.
Our team will always be the Bank’s greatest asset, even if it does not appear on the balance sheet. Their collective strength, motivation, and vision allow us to meet and exceed customer expectations. Thanks to their efforts, we delivered exceptional financial results in 2024, achieving a year-on-year growth of 59.4% in profit after tax, which truly demonstrates our resilience.
How does Sampath Bank interpret its current brand position in the market relative to competitors with larger scale or state backing?
Tharaka: Sampath Bank holds a strong brand position in the market and is consistently ranked as a ‘Most Valuable Brand’ and ‘Most Loved Brand’ in Sri Lanka. We have carved out a niche by prioritising technological advancement within the local banking sector. As a result, we are often recognised as a leader in digital banking and innovation, which continues to be our brand’s key differentiator.
The Sampath Bank brand itself is built on three pillars: Innovation, Solution-Orientation, and Human Values. Sampath Bank is recognised as a technology pioneer in the Sri Lankan banking industry, having introduced many firsts to the local market. The Bank’s comprehensive digital transformation and integration also demonstrates our commitment towards a solutions-oriented approach, where we identify bottlenecks and concerns across the customer journey, creating solutions and value by addressing such concerns. The Bank’s strong financial performance in 2024, among other indicators, has also largely been attributed to its focus on innovation and customer-centric solutions.
The third pillar is guided by the message ‘Pohosath Minissu’, which translates to Human Values that bind us with our customers beyond a transaction. Sampath Bank strives to be more than just a financial institution and aims to be a truly authentic Sri Lankan bank that adds lifetime value to the customers by offering unique, innovative and tailor-made financial solutions, benchmarked against international standards.
How do you track whether Sampath Bank’s branding efforts are delivering sustained customer engagement or loyalty across different demographic segments?
Tharaka: Beyond the standard customer feedback and other measures of customer sentiment, Sampath Bank conducts a brand health study once in 2 years, to assess various aspects of brand performance, customer perception and market positioning. This study evaluates factors like brand awareness, usage, consideration, loyalty and perception against market players.
In 2024 alone, we conducted 15+ brand-building activities, followed by assessing brand affinity across select branches and digital touchpoints. We also measure the success of our branding efforts by analysing digital product adoption rates, which also helps us evaluate the resonance we have with market needs. We have also conducted small-scale exploratory studies with Gen Z groups to gather early insights on our branding efforts.
In an industry where regulatory compliance and standardisation can dilute brand differentiation, how is Sampath Bank establishing a distinct identity?
Tharaka: Our brand, by its nature, remains purpose-driven to create value beyond regulations. Sampath Bank has, over the years, mastered the art of striking the perfect balance, where we abide by regulatory compliance. Regulations don’t dilute our brand differentiation, but strengthen it because we play by the rule book to bring out the essence of the Sampath Bank brand.
Has the bank faced tension between cost-efficiency drives and brand-building initiatives, particularly during recent economic downturns?
Tharaka: While we have indeed had budget cuts for brand-building initiatives, it was crucial to adapt and focus on maximising the impact with existing resources and optimising marketing opportunities. We prioritised high ROI brand investments, and supported these chosen branding activities with the best, most effective tools and platforms that can further compound our ROI. We implemented cost-effective, targeted digital marketing that has benefited Sampath Bank greatly in penetrating the tech-savvy youth demographic. The success of our efforts is evident from Sampath Bank retaining its position as one of the most valued and loved brands in the country this year.
The future of Banking is undoubtedly digital. How does Sampath Bank approach this future and attract potentially new customer segments that banks need to cater to?
Ayodhya: As a financial organisation operating in a rapidly evolving environment that is largely digital, we remain very proactive in terms of understanding future market trends and customer requirements. As a practice, Sampath Bank always looks at meeting client needs 5 – 10 years into the future. This approach has helped us successfully serve Millennials, Gen Z, and now Gen Alpha, and will support us in reaching Gen Beta too, with each generation bringing its own unique needs and concerns.
The newer generations are becoming increasingly digitally savvy, and as a bank, we are advancing alongside them to match the pace of digital transformation, where customer convenience is the ultimate goal. We are serving customers who no longer expect to visit a physical branch to manage their banking needs but instead look for convenience at their fingertips. We believe it is our responsibility to stay agile and responsive to these inevitable changes, remaining vigilant to shifting needs within the banking sector.
This is where strategic product development plays a crucial role. Different customer segments need financial solutions tailored to their specific circumstances. For example, Millennials, with their fixed monthly incomes, tend to prioritise savings products. In contrast, the more entrepreneurial-minded Gen Z may look beyond traditional banking products for personalised financial guidance and wealth-building solutions. Young families, meanwhile, are interested in guaranteed investment plans to secure their children’s financial future. Each group will have its own evolving needs, and as a bank, we must proactively be ready to offer the right solutions when those needs arise.
How does Sampath Bank assess the long-term relevance of its brand in a future where trust may shift towards fintechs, platforms, or decentralised financial models?
Tharaka: The shift of trust from banks to fintechs will not be sudden. While trust in fintechs is growing, conventional banks still maintain a strong advantage in overall trust and security, especially when it comes to sensitive data. For Sampath Bank, we have always ensured that our brand remains future-proof by evolving alongside the bank and the industry. While we are driving digital transformation across the bank, we have also begun exploring strategic collaborations with fintechs, understanding the need to adapt to the changing landscape of the industry. Beyond this, we are also staying ahead of the evolving fintech regulatory landscape by actively monitoring developments and participating in industry discussions to anticipate changes and shape policy.
Further information about the 100 Most Valuable Brands in Sri Lanka:
Sri Lanka’s Top 100 Most Valuable Brands
Introducing Brand Finance and Sri Lanka’s Most Valuable Brands
Brand Valuation Methodology: Identifying Sri Lanka’s Top 100 Brands