Category: Daily Financial Times

London-based The Financial Times publication ‘The Banker’ magazine has honoured Hatton National Bank PLC (HNB) with the prestigious Bracken Award as the ‘Bank of the Year Sri Lanka 2025.’

This recognition was based on the bank’s strength and its position as one of the country’s most resilient and future-focused financial institutions.

The annual awards by The Banker evaluate global banks on financial strength, innovation, governance, and long-term strategic performance. The recognition follows a year in which HNB delivered steady progress in balance sheet health, customer solutions, and operational efficiency despite a challenging operating environment.

HNB MD/CEO Damith Pallewatte said: ‘This award recognises the progress we are making as a bank that supports national recovery and long-term growth. Our focus is on strengthening balance sheet stability, improving service reliability, and expanding digital and advisory solutions that help customers move forward with confidence. Every achievement is the result of disciplined execution by our teams and the trust placed in us by our customers and partners.’

The award caps a year of significant milestones for HNB, including stronger capital and liquidity positions, improvements in asset quality, growth in Small and Medium Enterprise (SME) and transaction banking, and wider adoption of the bank’s digital platforms.

Furthermore, a key highlight was the successful acquisition of the remaining 50% stake in HNB Investment Bank, reinforcing HNB’s commitment to expanding its investment banking capabilities.

The bank continued to support key sectors of the economy through structured lending, advisory support, and partnerships aimed at improving competitiveness and financial inclusion.

HNB also strengthened its operational resilience through process redesign, data-driven decision-making, and improvements in customer experience across branches and digital touchpoints. These efforts have contributed to more stable performance indicators and a more agile foundation for future growth.

As Sri Lanka’s financial sector shifts towards modernised services and more transparent governance, HNB has positioned itself as a bank committed to long-term stability, digital progress, and customer-focused innovation. The recognition from The Banker places the institution among top-performing banks in the region and reflects its continued role in supporting the country’s economic trajectory.

With over 255 customer centres, HNB stands as one of Sri Lanka’s largest and most technologically innovative private sector banks.

Finance, Planning and Economic Development Ministry Secretary Dr. Harshana Suriyapperuma yesterday revealed that Rs. 1,893 million has been received in financial assistance from domestic contributors, Sri Lankans living overseas, and various organisations for the ‘Rebuilding Sri Lanka’ initiative launched to rebuild the country following the devastation caused by Cyclone Ditwah.

He added that the Insurance Regulatory Commission of Sri Lanka recently convened a meeting attended by the Heads of all insurance companies to formulate a mechanism for compensating affected businesses and property owners.

According to Dr. Suriyapperuma, all insurance companies have already begun the process of providing prompt compensation for damaged businesses, property. and loss of life resulting from the cyclone.

Under the prograe, compensation payments for minor property damage have already commenced.

Insurance company representatives further stated that compensation for extensive property damage will be paid following the collection and verification of the required information. They also noted that, where possible, a portion of the payment will be released immediately.

Sri Lanka recently faced one of its most challenging periods in recent years, as floods and landslides disrupted families, communities, and essential infrastructure across the country. In response, Dialog Axiata PLC mobilised an extensive, countrywide effort to support national emergency operations, maintain critical communication channels, and restore connectivity for millions of Sri Lankans.

Reflecting on the technical impact and the work carried out across the network, Ranga Kariyawasam, Group Chief Technology Officer of Dialog Axiata PLC, stated, ‘The recent severe weather caused extensive damage across several layers of our network. Fibre backbone cuts, site flooding, prolonged power outages, and restricted access to affected areas resulted in the loss of connectivity at 2,200 of our 6,000 sites. These conditions were unprecedented in scale and complexity. Our teams responded immediately, working around the clock, often in challenging conditions, to restore services as quickly as possible. I am pleased to share that our full network is now operational, marking one of the fastest recovery efforts we have carried out in recent years. This achievement was made possible by the dedication of our engineering, field, and support teams, and through the invaluable cooperation of the TRCSL, Tri Forces, Police, Disaster Management Centre, and local authorities. We extend our sincere appreciation to all who assisted us during this period.’

Dialog supported over 8 million customers across its services during this period. This included 6 million Mobile customers who benefited from over 4.5 million GB of free data quota, 1.4 billion of free voice minutes and 1.4 billion of free SMS; almost 1 million Home Broadband customers who received over 10 million GB of emergency data quota; and 1.6 million Dialog Television customers who received complimentary access to 39 channels. These measures helped families stay connected to loved ones and access critical information at a time when communication was essential.

The company also strengthened national emergency response efforts by activating early warning systems and disseminating over 40 million alerts, while providing satellite connectivity and Wi-Fi to the Sri Lanka Air Force, Sri Lanka Army, and the Disaster Management Centre to ensure uninterrupted coordination among response teams. Beyond connectivity, the company supported humanitarian relief reaching over 400,000 families through partner organisations and extended assistance to employees, retailers, and distributors affected by the disaster.

Looking ahead, as the country’s largest Foreign Direct Investor (FDI), Dialog aims to invest a further USD 250 million over the next three years to expand coverage through addition of 800 sites, enhance climate-resilient infrastructure, strengthen redundancy and backup power systems, and broaden alternative connectivity solutions; reinforcing the company’s commitment towards supporting Sri Lanka’s recovery and long-term digital development.

Speaking about Dialog’s continued commitment to the country, Supun Weerasinghe, Group Chief Executive of Dialog Axiata PLC, said, ‘The past weeks have tested the strength of our nation, and we recognise the impact this had on many of our customers. For the disruptions they experienced, we sincerely apologise and reaffirm our commitment to building a more resilient network. I extend my sincere appreciation to our teams across every part of the organisation. Their unwavering commitment, professionalism, and personal sacrifices during this period were instrumental in restoring services swiftly and safely. Our priority now is to ensure that every Sri Lankan, in every community, has access to dependable connectivity. We are committed to expanding our reach and strengthening the resilience of our network, so that the country is better supported today and better prepared for the future.’

With services now fully operational nationwide, Dialog reiterates its commitment to standing with the people of Sri Lanka and playing a meaningful role in rebuilding a stronger, more resilient, and digitally empowered nation.

HNB PLC, in collaboration with the Transport, Highways and Urban Development Ministry has announced the national launch of its digital bus fare payment solution on 24 November 2025 at the Makumbura Multi-Modal Centre. The event brought together the Transport Ministry, multiple banking partners, and private bus operators to advance the next phase of Sri Lanka’s digital public transport ecosystem. Parallel events were also held in Monaragala and Badulla, marking a coordinated nationwide activation.

HNB previously introduced the pilot program at the inter-provincial level, positioning itself as an early leader in operational deployment. Building on this success, the pilot phase now serves as the foundation for a structured nationwide rollout of digital payments across the public transport network.

The program was attended by Minister Bimal Rathnayake, who officiated the launch of bankcard payments for bus travel and reiterated the essential contribution of the banking sector in delivering Sri Lanka’s digital transport vision. Representatives of the Private Bus Owners’ Association, the NTC Chairperson, and officials from the Digital Economy Ministry were also in attendance, demonstrating that successful implementation at national scale relies on coordinated collaboration among banks, operators, and regulators.

Transport and Highways Minister Bimal Rathnayake said, ‘Digital payments in public transport strengthen our national move towards a predictable and modern mobility network. When services operate with accuracy and transparency, more people gain confidence to choose public transport, which reduces traffic congestion and supports a more sustainable transport environment. This system enhances the quality of travel by minimising delays, improving boarding efficiency, and giving passengers a reliable payment experience. Our expectation is that every partner, including banks and operators, will work together to scale this initiative and build a transport network that meets the long-term needs of the country.’

The Minister also inaugurated the Random Alcohol Testing Program for passenger transport drivers and inspected the Bus Condition Testing Station, underscoring the Government’s commitment to improving safety and technology-driven oversight.

HNB Chief Operating Officer Sanjay Wijemanne said, ‘Transport is an essential touchpoint for millions of Sri Lankans each day, and our role is to deploy payment technology that functions reliably, consistently, and at scale. The solution launched today improves revenue accuracy for operators and delivers a streamlined experience for commuters. It supports the national objective to embed digital payments across essential services while strengthening the backbone required for future mobility innovations.’

The initiative advances sustainable transport by reducing inefficiencies associated with cash handling, improving accountability, and elevating service quality. HNB remains committed to strengthening Sri Lanka’s transport system with reliable, sustainable, and high-quality digital payment solutions that reinforce the nation’s long-term mobility goals. While several banks are contributing to the national rollout, partners at the event recognised HNB’s superior operational readiness, expansive network strength, and sustained leadership in steering Sri Lanka’s transition toward a fully digital economy.

A Y-8 aircraft from the Myanmar Air Force, which was transporting aid along with a delegation from the Government of Myanmar, arrived at the Katunayake Air Force Base on Saturday to provide assistance to those displaced by the severe weather conditions impacting the island.

This shipment of aid comprises hygiene products, medical supplies, and other vital items.

The handover ceremony was attended by Myanmar Ambassador Marlar Than Htaik, along with Myanmar Foreign Affairs Ministry Director General Zaw Phyo Win and Myanmar Disaster Management Centre Director General Lai Lai Aye.

In addition to this assistance, the Myanmar Government has agreed to provide 500 metric tons of rice and $ 100, 000 in financial assistance to the country in the future.

India has sent over 300 tons in humanitarian relief assistance to Sri Lanka to support ongoing emergency operations after Cyclone Ditwah left thousands displaced and caused extensive damage across multiple districts.

The consignment arrived in Colombo on Sunday and was formally handed over by the Indian High Commissioner to Sri Lanka Santosh Jha. It was received on behalf of the Government by Minister Wasantha Samarasinghe and the Director General of the Disaster Management Centre (DMC).

The relief cargo was transported by Indian naval vessels, including three Landing Craft Utility ships and INS Gharial. The shipment includes essential food items such as sugar, pulses and milk powder, as well as bed sheets, towels, sarees, dhotis and tarpaulins for emergency use in affected communities. A second consignment was expected to arrive in Trincomalee yesterday as part of India’s continued assistance effort.

Sri Lankan officials welcomed the timely support, noting that the items will be dispatched immediately to cyclone-hit regions where relief teams are working to provide shelter, food and basic supplies to displaced families. India’s assistance comes as part of a broader international response to the disaster, with more aid expected in the coming days.

Sri Lanka beat Bangladesh by 6 wickets to win the second Under-17 one-day limited-over match and level the three-match series one-all at Chattogram yesterday.

Sri Lankan bowlers Minuga Nethsara and Himaru Deshan took six wickets between them to bowl out Bangladesh for 194 in 47 overs. Sri Lanka’s run chase was spearheaded by opener Arosha Sithumina who scored 50 off 63 balls (6 fours, 1 six) and Hirun Matheesha who hit an unbeaten 80 off 136 balls (6 fours) to take the Player of the Match award. Sri Lanka won with 25 balls to spare.

Bangladesh won the first Under-17 one-day limited-over match by 78 runs with Adrito Ghosh scoring an undefeated 103 (137 balls, 8 fours, 2 sixes) to take the Player of the Match award. Bangladesh hit up an impressive 271-6 and restricted Sri Lanka to 193-7.

The third and final match which is the series decider will be played on 12 December at Chattogram.

+1st Under-17 ODI: Bangladesh won by 78 runs

Bangladesh (Under-17) 271-6 (50) (Mohammad Naiem 32, Adrito Ghosh 103*, Akhash Roi 39, Sourav Karmakar 32, Himaru Deshan 2/34)

Sri Lanka (Under-17) 193-7 (50) (Hirun Matheesha 28, Jason Fernando 78*, Sanul Weeraratne 34)

+2nd Under-17 ODI: Sri Lanka won by 6 wickets

Bangladesh (Under-17) 194 (46.5) (Jarif Siyam 52, Akhash roi 25, Junayed Hossain 20, Minuga Nethsara 3/38, Himaru Deshan 3/33, Manitha Rajapaksa 2/24)

Sri Lanka (Under-17) 195-4 (45.5) (Arosha Sithumina 50, Hirun Matheesha 80*, Jason Fernando 24, Jarif Siyam 2/35, Rakibul Hossan 2/17)

The Acting British High Commissioner to Sri Lanka Theresa O’Mahony, visited the Sri Lanka Red Cross Society’s centre in Gampaha District on 8 December to meet communities affected by Cyclone Ditwah and witness UK-funded humanitarian relief efforts in action.

UK humanitarian response

As part of the UK’s initial response to the disaster, the Government has announced £ 1 million ($ 1.3 million) in humanitarian support for affected communities. This funding will help deliver emergency supplies and life-saving assistance to those who need it most.

During her visit, the Acting High Commissioner toured the Red Cross warehouse where UK aid supplies are being prepared for distribution, met with volunteers coordinating relief efforts, and travelled to flood-affected areas to speak directly with impacted families.

Partnership approach

Beyond direct funding, the UK is a major contributor to international humanitarian partners working in Sri Lanka, including the International Federation of Red Cross and Red Crescent Societies (IFRC) and the Asian Development Bank, both of which have allocated millions of dollars to disaster relief operations in the country.

The Acting High Commissioner was joined in Gampaha by IFRC Head of South Asia John Entwistle and received a briefing from Sri Lanka Red Cross Secretary General Dr. Mahesh Gunasekara on the ongoing relief efforts. The delegation also observed IFRC operational support at a temporary medical camp during the visit.

Standing with Sri Lanka

Acting British High Commissioner to Sri Lanka Theresa O’Mahony said: ‘I’ve seen here in Gampaha today that many families are facing grief and uncertainty; our support is about helping people get back on their feet-safely and with dignity. The UK stands shoulder to shoulder with the people of Sri Lanka, and we continue to work with the Government of Sri Lanka, the Red Cross, the UN and local partners today and in the months ahead, to help in the recovery efforts.’

Pathum Nissanka, Sri Lanka’s batsman for all seasons is certainly dominating the International T20 League in the UAE treating it like his own backyard.

His first three innings for Gulf Giants has just been ridiculous:

81 off 42 balls (6 fours, 4 sixes), st/rt 192.85 v MI Emirates

67 off 31 balls (6 fours, 5 sixes), st/rt 216.12 v Dubai Capitals

56 off 29 balls (4 fours, 4 sixes), st/rt 193.10 v Desert Vipers

Nissanka is in peak destruction mode and seems unstoppable.

Gulf Giants Captain Moeen Ali had only praise for this little dynamite.

‘He is a brilliant player. I believe he is one of the best players in the world in all the formats. He is very hard to bowl at, amazing shots and he takes it one down. His confidence is strong and he quietly goes by his business.’

Sri Lanka’s former White Ball Captain Dasun Shanaka who is leading Dubai Capitals said: ‘He is in the form of his life at the moment, bowling anything at him means going for a six. He’s worked hard over the recent past. He wants to make sure he is coming up with the level he needs to maintain at international level. I am absolutely happy the way he has come. I have seen him growing from a very young age. I feel happy for him.’

TV commentator Alan Wilkins was of the view: ‘He’s amazing because he is so small, and yet he hits the ball so far. He’s going to give trouble to a lot of teams in this tournament.’

Nissanka has already picked up two Player of the Match awards in the three matches he’s played so far. He is the leading run-getter in the tournament with 204 runs (avg. 68.00) and a strike rate of 200. He’s hit the most number of boundaries – 16 fours and 13 sixes.

The way Nissanka has dominated the ILT20 he is sure to be a front-runner for one of the franchises in next year’s IPL.

The secondary Bond market yesterday saw activity and transaction volumes increase marking a shift in tone following a spell of defensive trading following Cyclone Ditwah seen in recent sessions. Renewed demand was observed at the higher yield levels sparking a robust recovery and downward retracement.

Yields were pushed lower on the back of strong buying interest amidst the backdrop of news of additional external financing linked to ongoing and future potential IMF engagement. This included the request for $ 200 million through the IMF’s Rapid Financing Instrument and a new review in January 2026. These developments boosted confidence around near-term funding capacity and policy supervision, fiscal discipline and external credibility.

The enthusiasm was also supported by market expectations of further US Monetary Policy easing, with the CME Fedwatch tool showing an 89.4% probability of an additional 25 basis point rate cut at the FOMC’s December meeting with the decision due imminently, which could spur further foreign investment in Rupee Treasuries.

In terms of the secondary Bond market trade summary, 15.02.28 and 01.05.28 maturities were seen trading at the rates of 9.20% and 9.25% respectively. The 15.06.29 maturity saw its yield drop down the range of 9.52%-9.50%.

The 01.07.30 maturity traded at the rate of 9.70%. The 15.03.31 maturity was observed trading at the rate of 10.00%. The 2032 and 2033 tenors saw strong demand which saw rates drop notably on those maturities.

The 15.12.32 maturity experienced a 10-basis point intraday drop, trading down from an intraday high of 10.35% to a low of 10.25%. The 01.06.33 maturity and 01.11.33 maturity also saw around a 10 basis drop intraday trading down the ranges of 10.60%-10.50% and 10.58%-10.50% respectively.

This comes ahead of today’s scheduled weekly Treasury Bill auction. The auction will have on offer a total amount of Rs. 48 billion. The auction will be comprising of Rs. 10 billion in 91-day bills, Rs. 20 billion in 182-day bills, and Rs. 18 billion in 364-day bills.

This marks the sixth consecutive auction where the offered amount is considerably below the maturing volume, which is estimated at around Rs. 134.15 billion.

For context, at the previous weekly Treasury Bill auction held last Wednesday (2 December) the weighted average rates held steady. Accordingly, the yields on the, the 182-day and the 364-day tenors were recorded unchanged at 7.91% and 8.03%. However, the 91-day tenor recorded a very marginal drop of 01 basis point to 7.51%. This marks the 20th week where T-Bill rates have stayed broadly anchored around prevailing levels. Nevertheless, the auction was undersubscribed despite the bids received-to-offered amount ratio standing at 1.81 times.

In addition, the details of the next upcoming Treasury Bond auction, scheduled to be conducted on 11 December (this Thursday) were announced. The round of auctions will have a total offered amount of Rs 143.00 billion across three available maturities.

The auction will be comprised of: Rs. 43 billion from a 01 March 2030 Maturity bearing a coupon rate of 09.50%; Rs. 30 billion from a 01October 2032 Maturity bearing a coupon rate of 09.00%; Rs. 70 billion from a 15 June 2035 Maturity bearing a coupon rate of 10.70%. The settlement for which will be held on 15 December 2025.

The total secondary market Treasury Bond/Bill transacted volume for 08 December was Rs. 1 billion.

In money markets, the net liquidity surplus increased to Rs. 101.35 billion. An amount of Rs. 101.41 billion was deposited at Central Bank’s SDFR (Standing Deposit Facility Rate) of 7.25%, while an amount of Rs. 0.07 billion was withdrawn from the Central Bank’s SLFR (Standard Lending Facility Rate) of 8.25%.

The weighted average rates on call money and repo were registered at 7.94% and 7.99% respectively.

Forex Market

In the Forex market, the USD/LKR rate on spot contracts closed the day steady at Rs. 308.64/308.66 as against Rs. 308.63/308.68 the previous day.

The total USD/LKR traded volume for 08 December was $ 55.25 million.