Sanath Manatunge, Chief Operating Officer of the Commercial Bank of Ceylon PLC, has been appointed as the Managing Director and the Chief Executive Officer of the Bank effective from May 12, following the retirement of Sivakrishnarajah Renganathan two days ago (11).
Meanwhile, Sellathurai Prabagar has been appointed as the Chief Operating Officer filling the vacancy.
Manatunge has been serving the Bank for 32 years and held many top positions over the years, including the Bank’s Executive Director, Chief Operating Officer, Deputy General Manager for Corporate Banking heading the Corporate Banking and Trade Finance Divisions, and Chief Risk Officer.
Under Manatunge’s leadership, the Corporate Banking Division of the Bank experienced rapid loan book growth and growth in areas such as Trade Finance fee-based income, while maintaining the quality of advances, according to DailyFT.
“During his tenure as Chief Operating Officer Mr. Manatunge headed strategically-important business verticals of the Bank such as Personal Banking, Corporate Banking, Information Technology, Cards, and Digital Banking, guiding them to become industry leaders. He has also given leadership and strategic inputs for transformational projects of the Bank such as ‘SME Transformation,’ establishing a long-term digital roadmap for the Bank and many other projects to improve operational excellence,” it added.