The Commercial Bank of Ceylon has reached a significant milestone in its contribution to Sri Lanka’s education sector with the opening of its 200th Science, Technology, Engineering and Mathematics (STEM) classroom at Agamethi Balika Maha Vidyalaya in Panadura, reaffirming its commitment to digital education and future-ready skills.
The milestone extends a long-running programme that has introduced modern, technology-enabled learning to more than 325,000 students across the country. Agamethi Balika Maha Vidyalaya has a student population of more than 2,500 from Grades 1 to 13 and a teaching staff of 110. The new facility will provide students with practical exposure to technologies that are increasingly important in the modern economy.
The classroom transforms a previously underutilised space into an interactive learning environment equipped with an advanced SMART Board and lecture hall chairs fitted with writing pads. The facility will support multimedia-based STEM and IT lessons, collaborative learning, coding, interactive simulations and digital skills development, with the school’s dedicated IT faculty playing a key role in its effective use.
Commercial Bank’s STEM classroom initiative forms part of its broader, long-term investment in education and digital literacy. The programme evolved from the Bank’s education-focused initiatives and expanded significantly through its 100 Smart STEM Schools project, launched in 2020 to mark the Bank’s centenary. Under the initiative, 100 school classrooms were renovated, furnished and equipped with digital learning facilities, while teachers received training to make effective use of the resources.
The Bank’s wider commitment to digital education at school level also includes the donation of more than 400 IT laboratories, which are estimated to have benefited over 500,000 students nationwide. The STEM classrooms complement this effort by creating dedicated spaces where technology can be integrated into the teaching and learning of science, technology, engineering and mathematics.
Commenting on the new facility, Mr Anuradha Welikada, Principal of Agamethi Balika Maha Vidyalaya, said it would give students the opportunity to experience a more interactive approach to learning and make greater use of technology in their education.
“This classroom gives our students a valuable space in which learning can become more interactive, practical and engaging. We are especially pleased that our girls will have access to facilities that can help them build confidence in using technology and develop skills that will be important to their future studies and careers,” he said.
Commercial Bank was the first Sri Lankan bank to achieve a market capitalisation exceeding US$1 billion. In the 2026 edition of The Banker magazine’s prestigious Top 1000 World Banks ranking, the Bank secured the highest position among Sri Lankan banks. It also has the largest capital base among banks in the country and is one of Sri Lanka’s leading private-sector lenders.
Ranked No. 1 in the Business Today Top 40, Commercial Bank is recognised as one of Sri Lanka’s most respected and highly awarded banks. It continues to lead in digital innovation and is the country’s first fully carbon-neutral bank.
LOLC Dismisses Misleading Claims, Reaffirms People’s Bank Loan Is Fully Backed by a USD Cash Deposit
LOLC Holdings PLC has issued a public clarification rejecting what it describes as misleading and factually inaccurate information circulating across online and social media platforms regarding a banking facility involving the LOLC Group and People’s Bank.
The company stated that the local-currency borrowing is fully cash-secured against a US dollar deposit maintained directly with People’s Bank. As part of its global treasury management operations, LOLC Group entities maintain US dollar deposits with several local and international financial institutions, including People’s Bank. The Group’s Sri Lankan entities use these foreign-currency deposits as collateral to obtain local-currency funding, providing the bank with full collateral backing for the facility.
Responding to claims circulating online, LOLC said there was no factual basis for suggestions that the existence or location of the deposit was uncertain, that People’s Bank would have to recover an unidentified overseas asset, or that the arrangement constituted an unsecured exposure of public funds.
According to the company, the arrangement represents a conventional treasury transaction commonly used by multinational corporations operating across multiple jurisdictions and currencies. Instead of converting existing US dollar assets into Sri Lankan rupees, the Group retains its foreign-currency holdings while leveraging their value to obtain local-currency funding across its operations in 27 countries.
LOLC also rejected descriptions of the transaction as evidence of questionable banking practices, foreign-exchange speculation or the improper use of public funds, stating that such claims lack a factual basis and present a materially distorted picture of the arrangement.
Given the seriousness of the matter, the company said it is bringing relevant publications and misleading statements to the attention of the appropriate regulatory and other authorities. The Group also confirmed that it intends to pursue all available legal rights and remedies against individuals or organisations responsible for originating, publishing or continuing to circulate false or misleading content concerning the Group.
LOLC reaffirmed its commitment to operating transparently and responsibly, while taking appropriate measures to safeguard the interests of the Group and its stakeholders.
Commercial Bank Marks Major Milestone with Launch of 200th STEM Classroom for Young Learners
