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HNB ushers in new era with Damith Pallewatte at the helm as Acting CEO

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Damith Pallewatte, Acting CEO – HNB

Sri Lanka’s largest private sector retail bank, HNB PLC announced the appointment of Damith Pallewatte as Acting CEO, effective from 6th April 2024, subject to approval of his fit & propriety from Central Bank of Sri Lanka. The strategic appointment comes as part of a planned leadership transition first announced in May 2023.

A qualified Banking and Risk Management Professional with over 27 years of experience including more than 14 years in Senior and Corporate Management positions, Pallewatte brings a wealth of diverse experience to his new role. His career has spanned the full spectrum of banking operations, including Strategy and Risk Management, Credit, Branch Banking and Operations, before his most recent tenure as Deputy General Manager of HNB’s Wholesale Banking Group.

“As a result of the fundamental realignment that has taken place at HNB over the past decade, we are ideally positioned to play a transformative role in the national economy. Our goal is to continue building on this legacy of strength, stability and innovation.

“Leveraging best in class customer service, emerging technologies, and unmatched network capabilities, we aim to facilitate Sri Lankan enterprises of all sizes to connect to global opportunities, while engaging with critical sectors and new markets to enable a true economic resurgence,” HNB Acting CEO, Damith Pallewatte said.

Pallewatte brings to his role as Acting CEO of HNB an extensive portfolio of leadership positions and directorships within and beyond Sri Lanka. Since November 2021, he has served as Chairman/Director of Lanka Ventures PLC and LVL Energy Fund PLC, both listed on the Colombo Stock Exchange, showcasing his expertise in venture capital and renewable energy investments across Sri Lanka, Bangladesh, and Nepal.

Further enriching his profile, Pallewatte holds directorships at Acuity Partners (Pvt) Ltd, Acuity Securities Limited and Lanka Financial Services Bureau Limited. Further, he was recently appointed as Vice President/Director of the International Chamber of Commerce in Sri Lanka.

Pallewatte holds a Master of Business Administration (MBA) degree from the Postgraduate Institute of Management, University of Sri Jayewardenepura and a Bachelor of Science in Management from the University of London, London School of Economics.

He is also a Certified Financial Risk Manager (FRM) by the Global Association of Risk Professionals (GARP), an ACI Operations Certificate holder of Financial Markets Association – France, a Fellow Member of the Chartered Institute of Management Accountants (CIMA), UK and holds a Sustainability and Climate Risk Certificate (SCR) from GARP, underscoring his dedication to advancing financial, social and environmental sustainability practices.

Pallewatte’s influence extends into professional accounting and risk management communities as evidenced by his appointments to the MESANA (Middle East, South Asia and North Africa) Regional Advisory and Engagement Panels by the Association of International Certified Professional Accountants (AICPA) and CIMA, and his leadership roles within the CIMA Country Network Committee in Sri Lanka and as the Chairman of South Asia Area Committee covering India, Bangladesh and Sri Lanka.

His tenure as past president of the Association of Banking Sector Risk Professionals, also known as the CRO Forum, and his significant contributions as the Chairman of the Technical Committee for the Credit Information Bureau of Sri Lanka (CRIB), underscore his commitment to enhancing financial systems and technologies for the broader economic benefit. Before joining HNB he had stints with Sampath Bank PLC and Nations Trust Bank PLC.

With 256 customer centres, HNB stands as one of Sri Lanka’s largest and most technologically innovative private banks. Having been recognized as the Best Retail Bank in Sri Lanka for the 14th consecutive year at the Asian Banker Global Excellence in Retail Financial Services Awards 2024, HNB continues to solidify its reputation in the sector. Additionally, the bank has been honored with prestigious awards, including Best Market Leader in Trade Financial Services at the renowned Euromoney Awards for Excellence in 2024, highlighting its excellence in service, market leadership, and commitment to sustainable banking practices.



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Business, economic heavyweights converge in Colombo

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Senior business leaders, economists and international development experts, alongside the Prime Minister of Sri Lanka, will headline the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12 and 13 October at the Shangri-La Colombo.

The Summit will open with a keynote address by T. Krishnakumar, Chief Executive Officer, Reliance Consumer Products Ltd, who brings more than four decades of experience in the consumer brands and FMCG sectors. Having previously served as President of Coca-Cola India and Southwest Asia, with extensive experience in building businesses and driving growth across emerging markets, Krishnakumar, more popularly known as Kk, now leads Reliance Consumer Products as it expands across categories and builds new customer, partnership and market opportunities.

Day 2 will bring together four international perspectives across discussions on economic resilience, regional connectivity, sector growth and digital transformation.

Lilia Aleksanyan, Senior Country Economist for Sri Lanka at the Asian Development Bank, will open the day’s discussions with a focus on Sri Lanka’s economic resilience. Her work covers the country’s macroeconomic outlook, policy advice and macro-fiscal and financial-sector reform. Her international policy experience also includes roles at the French Ministry of Finance and the French Central Bank.

The Summit will then turn to Sri Lanka’s connections with regional markets, with P. D. Singh, Chief Executive Officer, India & South Asia, Standard Chartered Bank, delivering the keynote for the session on trade corridors and value chains. Singh counts close to three decades of experience in banking and finance, with senior leadership roles spanning Standard Chartered, JPMorgan Chase Bank and HSBC.

The Sector Deep Dives will bring international perspectives to discussions on healthcare and energy.

Tushar Shroff, Chief Financial Officer, Zydus Lifesciences Ltd, will deliver the keynote for the healthcare discussion, drawing on more than three decades of experience in corporate finance, strategic investment and financial transformation. His career spans senior finance and leadership roles with ABB, Piramal Healthcare, Intas Pharmaceuticals and Vedanta Group, giving him a broad perspective on the business and investment decisions shaping the healthcare sector.

For the energy-focused deep dive, Edore Onomakpome, Regional Infrastructure Industry Manager for Bangladesh, Sri Lanka and Nepal at the International Finance Corporation, will bring extensive experience in infrastructure investment and project finance across emerging markets. Since joining IFC in 2013, she has held senior roles across Africa and South Asia, including managing IFC’s infrastructure portfolio across 16 countries.

The Summit will conclude its keynote programme with Prime Minister Dr. Harini Amarasuriya, who will deliver the keynote for “Nation Building in the Digital Age.” The Prime Minister also oversees the Ministry of Education, Higher Education and Vocational Education, bringing a direct policy perspective to discussions on digital transformation, innovation, education and the skills needed for a changing economy.

Together, these perspectives will bring regional, international and policy insight to SLEIS 2026 as Sri Lanka considers how to strengthen economic resilience, attract investment, deepen regional connections and develop new sources of growth.

Held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy,” SLEIS 2026 will take place on 12 and 13 October 2026 at the Shangri-La Colombo.

The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Microsoft Sri Lanka (Pvt) Limited, Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.

Registrations for SLEIS 2026 are now closed. The Ceylon Chamber looks forward to welcoming participants to the discussions on Sri Lanka’s future trajectory on 12 and 13 October.

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Commercial Bank launches ‘Prestige’ banking for HNW clients

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Sharhan Muhseen, Chairman of Commercial Bank flanked by Sanath Manatunge, Managing Director/CEO and Hasrath Munasinghe, Executive Director/Chief Operating Officer at the launch of Commercial Bank Prestige Banking

Commercial Bank of Ceylon has launched ‘Prestige’, a three-tier banking proposition aimed at high-net-worth (HNW) clients, combining wealth management, advisory services and lifestyle benefits.

The initiative replaces the bank’s existing ‘Elite’ private banking brand with Ruby, Sapphire and Diamond tiers, designed to cater to customers according to their wealth profiles and banking relationships.

The bank said Prestige would provide dedicated relationship managers, priority branch services, preferential rates on loans and deposits, enhanced card privileges, family banking programmes and offshore account solutions.

Its wealth and investment management services include access to capital-protected income solutions, dual-currency investments, institutional deals and estate and portfolio governance.

Clients will also have access to specialist financial and corporate advisory services, including assistance with international relocation, overseas property and capital repatriation.

The programme includes lifestyle benefits such as VIP airport lounge access, travel concierge services, property management and medical coordination, as well as access to selected art and culinary events.

The bank said its flagship Prestige banking residence at R.G. Senanayake Mawatha, Colombo 07, had been refurbished, with the service to be extended to other economically important cities.

Commercial Bank Managing Director/CEO Sanath Manatunge said Prestige was intended to support customers in managing their wealth, business interests, family needs and long-term legacy.

Existing Elite clients are being transitioned to the new programme, the bank said.

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Ceylinco Life rewards 80 sales achievers with overseas tours

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Ceylinco Life has rewarded 80 members of its sales force with overseas tours to Vietnam and China for their outstanding performance in the company’s 2025 sales competitions.

The group comprised 62 sales achievers who travelled to Vietnam and 18 who visited China.

The Vietnam tour included visits to Hanoi’s Ho Chi Minh Complex, One Pillar Pagoda, Tran Quoc Pagoda and Hoan Kiem Lake. The group also travelled to Ha Long Bay, where they went on an Aurora Cruise and explored attractions including Sung Sot Cave, Luun Cave and Titop Island.

The tour also featured a sunset party aboard the cruise, with music and refreshments.

The 18 achievers who travelled to China visited several of Beijing’s major historical and cultural attractions, including Tiananmen Square, the Forbidden City and the Summer Palace. They also took a boat ride on Kunming Lake.

A highlight of the China tour was a visit to the Mutianyu section of the Great Wall, including a round-trip cable car ride. The group also attended an acrobatic show at Chaoyang Theatre and visited the Panda Garden at Beijing Zoo.

The company said the tours were organised to recognise and reward sales personnel for their performance and achievements.

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