The Commercial Bank of Ceylon PLC has announced the appointment of Chief Operating Officer Mr Sanath Manatunge as Managing Director and CEO effective 12th May 2022.
Mr Manatunge succeeds Mr Sivakrishnarajah Renganathan who will retire on 11th May 2022, ending a distinguished 41-year career at Commercial Bank.
MrSanath Manatunge has been with Commercial Bank for 32 years, the last four of them as an Executive Director and the Bank’s Chief Operating Officer. He previously headed the Corporate Banking and Trade Finance Divisions of the Bank as Deputy General Manager – Corporate Banking and has also served as the Bank’s Chief Risk Officer (CRO).Under his 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.
During his tenure as Chief Operating Officer Mr. Manatunge he aded 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 manyother projects to improve operational excellence.
A Fellow of Chartered Institute of Management Accountants – UK (FCMA – UK) and holder of a Master of Business Administration (MBA) degree from the University of Sri Jayewardenepura,Mr Manatunge is a Fellow of the Institute of Bankers – Sri Lanka (FIB), a Fellow of the Institute of Certified Management Accountants of Sri Lanka (FCMA) and a Fellow of the Chartered Management Institute, UK (FCMI). He has been a member of Sri Lanka Institute of Directors since August 2017.
He was also instrumental in forming the Association of Banking Sector Risk Professionals, Sri Lanka, and served as the Association’s President in 2014. He was adjudged the ‘Chief Information Security Officer of the Year’ at the EC – Council Global CISO Forum held in Atlanta – USA in September 2013 in recognition of his outstanding contribution to strengthening and promoting information security practices and IT Risk Management.
Mr Manatunge has served as a Council Member of the Association of Professional Bankers (APB) and a member of the CIMA ‘Thought Leadership Committee.’He has been a visiting lecturer for the MBA Degree programme at the University of Colombo as well as a resource person at the Training Centre of the Central Bank of Sri Lanka (CBSL) and the Institute of Bankers of Sri Lanka (IBSL).
Mr Manatunge is also a Director of Commercial Bank of Maldives (Pvt) Ltd., a subsidiary of Commercial Bank of Ceylon PLC.