BIZ
NSBM partners with American University for exclusive Bachelor’s Degree transfer pathway
NSBM Green University (NSBM) has entered into a landmark partnership with American University (AU),Washington, USA, to deliver an exclusive transfer pathway for bachelor’s degrees in Sri Lanka.
This partnership enables Sri Lankan students to commence their degree studies at NSBM Green University and seamlessly transfer toAU to complete the final two years, earning an internationally recognized American University degree in Business Administration.
The collaboration between NSBM and AU was initiated by the Embassy of Sri Lanka in the USA, under the guidance of Ambassador H.E. Mahinda Samarasinghe, with a strong commitment to identifying partnership opportunities for higher educational institutions in Sri Lanka. It stands as a significant milestone in NSBM’s global expansion efforts, with a commitment to offering students cost-effective, world-class educational opportunities.
The official signing ceremony of this landmark partnership took place on 4th April 2025 at NSBM Green University, Homagama, in the esteemed presence of Her Excellency Julie Chung, U.S. Ambassador to Sri Lanka. Representing the Vice Chancellor of NSBM Green University, Prof. E. A. Weerasinghe, the agreement was formally signed by Ms.Thilini De Silva, Dean of the Faculty of Business at NSBM, together with Ms. Tashina Giraud, Director of InternationalPartnerships and Strategic Initiatives at American University.
As part of the signing ceremony, Her Excellency Ambassador Julie Chung and the visiting dignitaries toured the NSBM Green University premises, engaging in discussions and exploring the campus. In honor of Her Excellency’s visit, a tree-planting ceremony was held at the NSBM Phase 2 site, where H.E. the Ambassador planted a Naa Tree – Sri Lanka’s national tree – underscoring the university’s commitment to environmental sustainability and long-term growth.
Her Excellency Julie J. Chung, U.S. Ambassador to Sri Lanka
“It is a proud moment to witness this partnership between American University and NSBM Green University—apowerful reflection of the enduring ties between the United States and Sri Lanka. The United States continues to attract the brightest minds and foster innovations that shape the future. With the signing of this 2+2 agreement, SriLankan students now have the opportunity to pursue a world-class Business Administration degree—beginning their journey here in Sri Lanka and completing it in Washington, D.C. This collaboration not only equips students with valuable business leadership skills but also strengthens both our economies and lays the groundwork for future cooperation. It’s an investment in education that promotes long-term growth, prosperity, and mutual success.”
H.E. Mahinda Samarasinghe, Sri Lankan Ambassador to the U.S.
“This marks a significant milestone in Sri Lanka’s higher education that will enhance international engagement and open invaluable avenues for Sri Lankan students on the world stage. While I take immense pleasure in ourEmbassy’s role in facilitating this partnership, I would like to extend my warmest wishes to NSBM Green University andAmerican University for a truly transformative partnership.”
Prof. E. A. Weerasinghe, Vice Chancellor, NSBM Green University, Sri Lanka
“We, at NSBM Green University, always remain committed to expanding our global outreach. This partnership with American University reinforces this commitment while ushering a new era of international engagement. Weare deeply hopeful and excited about the world-class learning opportunities and global career prospects this collaboration brings to empower Sri Lanka’s youth for future success.”
Ms. Tashina Giraud, Director of International Partnerships and Strategic Initiatives, American University, USA
“We are thrilled to collaborate with NSBM Green University in this exciting step towards expanding our global reach. This partnership will open many new pathways and enrich the academic experiences of students from both of our institutions. We look forward to a mutually enriching and fruitful collaboration through the exchange of knowledge and culture.”
BIZ
BOC & NSB record historic profits
In a milestone moment for Sri Lanka’s financial sector, the Bank of Ceylon (BOC) and the National Savings Bank (NSB) reported record-breaking profits for the year 2024, officially presenting their annual reports to President Anura Kumara Disanayake at the Presidential Secretariat today (22).
The achievements, marked by robust fiscal discipline, strategic vision and public accountability, signal a renewed trajectory of confidence in state-owned banking institutions.
The BOC announced a staggering pre-tax profit of Rs. 106 billion, the highest ever recorded not only by a bank but by any institution, public or private, in Sri Lanka’s history. BOC Chairman Kavinda de Zoysa emphasized the significance of this financial milestone, stating, “This is a historic record as the BOC recorded the highest profit before tax of Rs. 106 billion, the highest profit achieved by any institution, bank or company in Sri Lanka in its entire history.”
He credited the bank’s strategic focus on national development and SME support, adding, “BOC continues as the largest SME and development bank in the country with the best business rehabilitation unit which is futuristic and supports the entire nation.”
Meanwhile, the NSB posted a dramatic turnaround, reporting a pre-tax profit of Rs. 26.4 billion, a remarkable leap from Rs. 4.2 billion in 2023. Chairman Dr. Harsha Cabral attributed this growth to prudent fiscal governance and effective stakeholder collaboration.
“The National Savings Bank recorded the highest ever profit before tax of Rs. 26.4 billion for the year 2024. This is a momentous success and a major increase from the Rs. 4.2 billion in 2023,” he said. “The success of NSB is mainly due to the financial discipline and macroeconomic stability of the country. I dedicate this achievement to the entire NSB family, including our employees, board of directors, senior staff, customers and all stakeholders who support us directly or indirectly.”
Dr. Cabral highlighted that NSB is no longer a burden on the state. “We are a self-sustaining success story and not a burden on the Treasury anymore. With professional management and financial discipline, the NSB has achieved its targets and hopes to exceed them in 2025,” he noted. He also pointed to internal reforms and staff incentives that bolstered morale and productivity. In 2024, NSB’s workforce was streamlined from 4,600 to 4,200 while maintaining a 262-branch network. Employees were rewarded with a five-month bonus, and gold coins were reintroduced for long service recognition after a five-year gap.
Both chairmen underscored a rare but significant aspect of their governance: neither they nor their board members draw a salary for their service. “Our reward is the institution’s success and its contribution to national development,” Cabral remarked, a sentiment echoed by de Zoysa as a model of civic-minded leadership.
President Anura Kumara Disanayake commended the accomplishments of both institutions, stating, “These banks demonstrate how strategic leadership and ethical governance can transform public institutions into pillars of national strength. Their performance is a beacon of what’s possible in Sri Lanka’s economic future.”
With an eye on 2025, BOC is set to expand its digital infrastructure to enhance accessibility and customer service, while NSB plans to refine its operations further, guided by corporate governance best practices.
(President’s Media Division)
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