Sri Lanka's best bank for CSR 2022: Sampath Bank
Sampath Bank wins Asiamoney’s award for best bank for corporate and social responsibility this year because of the impact of its innovative and social-changing ways during Sri Lanka’s economic crisis.
Most Colombo-based banks do their bit for CSR, but Sampath Bank, under managing director Nanda Fernando, stands out.
As working capital proved scarce during the first waves of Covid infection, Sampath supersized its 'diriya' loan scheme: this is its flagship product, targeted at the small and medium-sized enterprise sector, with priority given to green lending. The bank ramped up its sustainable lending in line with the government’s 2030 target to ensure that 70% of energy comes from renewable sources.
Sampath supported Sri Lanka’s import/export trade, prioritizing the prudent management of its foreign-currency position. It took pre-emptive action to procure more foreign currency early on in the year, setting the stage for the firm to smooth out trade dynamics.