Sri Lanka’s Sampath Bank wins Sumathi award for digital commercial

(L-R) Anjali Goonetilake, Chief Manager – Marketing, Sampath Bank; Actress Manel Wanaguru; Dulantha Sumathipala, Director, NAPCO; Hiroshan Waduge, Director, MUSE; Sudari Gunasekara, Managing Director, MUSE; Darshin Pathinayake, Chief Business Intelligence Officer; Sampath Bank M…

Monday July 20, 2026 2:21 pm

ECONOMYNEXT – Sri Lanka’s Sampath Bank digital commercial ‘Wewata Jeewayak’, for its CSR initiative, has won runner-up at the Sumathi Awards 2026. “The commercial highlighted the resilience of Sri Lanka’s farming communities while drawing attention to the importance of preserving the nation’s agricultural heritage and sustaining rural livelihoods for future generations,” the bank said. “The recognition reflects the impact of Wewata Jeewayak, a long-standing initiative through which Sampath Bank continues to support farming communities by restoring and revitalising village irrigation tanks across the country.” The commercial reinforced the importance of safeguarding the resources that sustain Sri Lanka’s agricultural sector and the communities that depend on them, the bank said. (Colombo/Ju20/2026)

Monday July 20, 2026 1:49 pm

ECONOMYNEXT – Fitch Ratings has given Sri Lanka DFCC Bank’s proposed 10 billion rupee Basel III subordinated debentures an expected ‘BBB+(EXP)(lka)’ rating. “We use DFCC’s National Long-Term Rating as the anchor for this instrument, because it reflects the bank’s standalone financial strength and best indicates the risk of the bank becoming non-viable,” the ratings agency said. The proposed debentures will mature in five years and will be listed on the Colombo Stock Exchange. The full statement is reproduced below: Fitch Rates DFCC Bank’s Proposed Basel III Subordinated Debt ‘BBB+(EXP)(lka)’ Fitch Ratings – Colombo/Singapore – 20 Jul 2026: Fitch Ratings has assigned DFCC Bank PLC’s (A(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures of up to LKR10 billion an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’. The proposed debentures will mature in five years and will be listed on the Colombo Stock Exchange. The bank plans to use the proceeds to strengthen its Tier 2 capital base and to support balance sheet growth. The bank expects the proposed debentures to qualify as Basel III-compliant regulatory Tier 2 capital. The debentures include a non-viability clause whereby they will convert to ordinary voting shares upon the occurrence of a trigger event, as determined by the Governing Board of the Central Bank of Sri Lanka. The final rating is subject to the receipt of final documentation conforming to information already received. Key Rating Drivers DFCC’s Sri Lankan rupee-denominated subordinated debt is rated two notches below the bank’s National Long-Term Rating anchor. This reflects our baseline notching for loss severity on this type of debt and expectations of poor recoveries. There is no additional notching for non-performance risk, as the notes do not incorporate going-concern loss-absorption features. We use DFCC’s National Long-Term Rating as the anchor for this instrument, because it reflects the bank’s standalone financial strength and best indicates the risk of the bank becoming non-viable. We reviewed DFCC’s ratings with no rating action on 8 September 2025. See our latest rating action commentary, Fitch Upgrades 10 Sri Lankan Banks’ National Ratings and Affirms Five after Scale Recalibration, published on 21 January 2025, for the key rating drivers and sensitivities. Rating Sensitivities Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade A downgrade of the bank’s National Long-Term Rating would lead to a downgrade of the expected rating. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade An upgrade of the bank’s National Long-Term Rating would lead to an upgrade of the expected rating. (Colomno/Jul20/2026)

Monday July 20, 2026 10:51 am

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trending down on Monday, as the US continued to bomb Iran’s civilian infrastructure, and the West Asian country retaliated with strikes in Gulf countries. The All Share Price Index was down 0.72 percent, or 154.92 points, at 21,250.49; S&P SL20 was down 0.66 percent, or 39.48 points at 5,960.20. Turnover was 325 million rupees. Dialog Axiata (down 1.10 rupees at 43.10), Cargills (down 25 rupees at 605) and Commercial Bank (down 1.75 rupees at 202) weighed down the ASPI. The US said it had completed a ninth consecutive night of attacks on Iran. Iran’s IRGC claimed attacks on US military facilities in Kuwait and aircraft at Jordan’s Aqaba airport. (Colombo/Jul20/2026)

Monday July 20, 2026 10:26 am

ECONOMYNEXT — A high-level Sri Lankan delegation has met with US maritime regulators in Washington DC to discuss ocean shipping oversight and invite American officials to visit the island to highlight its position as a central Indian Ocean shipping hub. The delegation, which visited the United States in June, met with Federal Maritime Commission (FMC) Chair Laura DiBella and the commission’s legal team. The meeting was set up through Dustin Bickel, the Indo-Pacific coordinator at the US Embassy in Colombo, on the sidelines of the US Forum on Indian Ocean Ports and Supply Chains. The Sri Lankan group included Deputy Minister Janitha Ruwan Kodithuwakku, Presidential Special Envoy Hanif Yusoof, Sri Lanka Ports Authority (SLPA) Chairman Dr. Parakrama Dissanayake, and Shippers Academy CEO Rohan Masakorala, alongside Aritha Wickramasinghe and Shiran Dissanayake. During the talks, officials discussed how the FMC regulates international ocean transport and manages supply chain reliability. “The delegation extended an official invitation to Chair DiBella to visit Sri Lanka to showcase the nation’s role as a key Indian Ocean logistics hub,” the statement said. The visit was part of a US State Department-funded initiative aimed at strengthening trade ties across the Indo-Pacific region. As part of the tour, the Sri Lankan team also visited the Port of Baltimore. Officials studied automated systems and digital logistics tools to gather insights for modernizing operations at the Port of Colombo. (Colombo/Jul20/2026)

Monday July 20, 2026 9:32 am

ECONOMYNEXT – Sri Lanka’s rupee was quoted at 336.20/30 to the US dollar in the spot market on Monday, from 336.15/25 Friday, while bond yields edged up, dealers said. The telegraphic transfer rate for the dollar was 331.80 buying, 340.80 selling; the euro was 376.9467 buying, 390.8637 selling; and the pound was 445.4833 buying, 459.5289 selling. A bond maturing on 15.12.2029 was quoted flat at 11.10/20 percent. A bond maturing on 01.03.2030 was quoted at 11.30/40 percent. A bond maturing on 15.05.2030 was quoted at 11.40/50 percent. A bond maturing on 01.08.2030 was quoted at 11.55/60 percent. A bond maturing on 15.10.2030 was quoted flat at 11.60/65 percent. A bond maturing on 15.12.2032 was quoted flat at 11.95/12.05 percent. A bond maturing on 15.01.2033 was quoted at 11.97/12.15 percent. A bond maturing on 15.10.2034 was quoted at 12.12/20 percent. A bond maturing on 01.07.2037 was quoted at 12.60/70 percent. (Colombo/Jul20/2026)

Sunday July 19, 2026 8:30 am

ECONOMYNEXT – Foreign holdings in Sri Lanka rupee bonds hit a fresh near three-year high in the week ended on July 16 as offshore investors bought a net US$ 23.2 million worth of government securities, Central Bank data showed, amid a stable rupee currency. Foreigners bought a net 7,666 million rupees (US$23.2 million at 1$=330 rupees) in the week, which boosted foreign holdings in rupee bonds to 176,561 million rupees, the highest since July 27, 2023, the Central Bank data showed. The latest inflow boosted foreign investment in rupee bonds so far this year to US$106.6 million. The island nation witnessed a net inflow of over Rs.55.2 billion rupees (US$167.2 million) in the last four weeks after the rupee started to stabilize. The rupee currency’s selling rate fell to as low as 354 against the U.S. dollar on May 21 before recovering and gaining to the 340 level. The rupee had been steady for more than three years before the latest depreciation with the Central Bank citing higher oil and vehicle imports amid a lingering conflict in the Middle East. The rupee has fallen 7.8 percent through July 16 this year. Globally, investors are cautious about economic growth due to the impact of the latest Middle East escalation. The island nation enjoyed a total inflow of around 71.5 billion rupees (around US$234.4 million) into rupee bonds last year. Analysts said Sri Lanka’s deflationary policies in the past helped inflows amid curtailed imports. However, the island nation has seen an uptick in inflation in the last three months after nearly 50 percent hike in fuel prices gradually. The government reduced the fuel price in the last week of June. The Central Bank raised its key monetary policy rate by 100 basis points in May to curb inflationary pressure stemming from higher demand. Before the May rate hike, the Central Bank kept its key policy rates steady since May 2025 after reducing them by 825 basis points over 24 months since June 2023 and foreign investors have been buying rupee bonds despite slight depreciation in the local currency. (Colombo/July 19/2026)

L to R – Mr. Samira Anthony CFO – Grafeo One, Aslam Omar Director – Grafeo One, Subash Thavarajasingam Founder and CEO Excello, Mr. Kasun Project manager- Excello Rajkumar, Rajeevkanth Director – Paramount Edu Global

Saturday July 18, 2026 7:00 am

ECONOMYNEXT – Sri Lanka-based property development company, Excello Developers has launched its newest residential landmark, Aathavan by Excello, at Carron Place in Dehiwala. Starting from 38 million rupees, the development offers apartments with long-term investment value, the company said. “At Excello, our design philosophy is all about ‘Elevated Living,’ which means more than just luxury looks,” said Subash Thavarajasingam, Founder and CEO of Excello Developers. “For Aathavan by Excello, we spent months talking to real people to create spaces that address everyday needs. By using a fully solar-powered system, we are not only helping the environment but also protecting our buyers from high maintenance fees and market volatility. Coupled with our special bank partnerships and flexible payment options, this project is about shaping responsible, human-centric environments that guarantee long-term asset value delivered on time and within budget.” Rising eight storeys high, Aathavan by Excello comprises 44 units engineered in a range of versatile configurations that maximise every square foot of the property, the company said. The layouts cater to diverse lifestyle needs, offering optimised two-bedroom apartments at 1,020 square feet and spacious three-bedroom residences at 1,380 square feet.

Excello said it took a grassroots approach to planning by dedicating extensive time to interviewing real people and conducting market research. This process ensured that every layout and utility is built directly on feedback from people, leading to the inclusion of crucial everyday details such as a service lift that doubles as a bed lift to ensure safe and convenient transport for invalid or unwell residents, an invaluable feature for anyone dealing with ageing family members. Built on a foundation of strict environmental sustainability, the project introduces green innovations that directly reduce long-term operational costs for its residents. The entire complex runs entirely on solar power, which protects homeowners from rising utility rates and guarantees low monthly maintenance fees. Additionally, an on-site water recycling system efficiently supplies the property’s vehicle washing bays and grounds gardening. The rooftop area is designed to function as a community hub, featuring dedicated walking and jogging tracks and a fully equipped gymnasium for residents. Excello will directly manage the property for the first two years post-completion, ensuring pristine upkeep and seamless community operations. The company also employs advanced AI-driven project management tools to ensure ultimate financial transparency, strict timeline compliance, and data-driven tracking throughout the building process. To make this landmark property highly accessible, Excello Developers has secured special bank partnerships and flexible, structured payment plans tailored to accommodate the diverse financial preferences of modern homebuyers. (Colombo/Jul18/2026)