Sampath Bank’s...

The move also makes Sampath Bank the first Sri Lankan bank to have closed a transaction of this magnitude in Myanmar.

Sampath Bank established its representative office in Myanmar in October 2015. It is located within the modern office complex in the Novotel Hotel Max in Yangon’s Kamayut Township.

Facilitating finances for Sri Lankan business entities in Myanmar and offering assistance with regulatory and legal clearances for potential Sri Lankan investors have been the priority projects of the Bank’s Foreign Currency Banking Unit (FCBU) in this market. Sampath Bank PLC Managing Director Nanda Fernando took part in the formal agreement signing ceremony held in Yangon, recently. Sri Lanka’s Ambassador to Myanmar Nimal Karunaratne, Family Business Group Hotel Limited Chairman/managing Director Aung Than, Family Business Group Hotel Limited Director/chief Executive Officer (CEO) Koko Latt, Sampath Bank PLC’S Myanmar Representative Office Manager Lakkhana Gunaratne and representatives of Family Business Group Hotel Limited were also present at this event. Commenting on this partnership Sampath Bank Managing Director Nanda Fernando said: “We are proud to be the first Sri Lankan bank to have successfully completed such a large value transaction in Myanmar, a market we see great potential in. As we continue to support the financial requirements of Sri Lankan companies who are operating in Myanmar, we look forward to working closely with local businesses and to partner with other stakeholders in the market to help establish Sampath Bank as a trusted financial service provider in Myanmar.”