The Merchant Bank of Sri Lanka (MBSL) and Finance PLC recently launched a three-year strategic plan, following a complex consolidation between the Bank and MBSL Finance.
MBSL is poised to enter a new era of growth and progress by leveraging the synergies of a skilled workforce backed by the latest specialised financial sector technology, the bank said in a release.
At a meeting to discuss the Strategic Plan of MBSL, the Chairman of MBSL Sujeewa Lokuhewa said, “The development of this plan has taken a lot of effort and time, and I am confident that the final output will be a good roadmap for our company for the next three years. Today, we celebrate the results of the fruitful teamwork and more importantly, a roadmap that will guide our operations in the next three years.”
“The plan acknowledges the changing environment and the need to convert from a red ocean player into a blue ocean player in the financial industry. This informed our new strategic direction which is to: ‘Making the Competition Irrelevant and Creating New Market Space’,” he said.
The Chief Executive Officer of MBSL, Thilak Mutugala outlined the overall Strategic Plan 2017-2019 to the audience which comprised the Board of Directors, Corporate Management, Regional Managers and Branch Managers.
MBSL has also been cognisant of the importance of ensuring operational stability and renewed a three-year collective agreement with its employees’ union last month, laying the groundwork for smooth rollout of its three-year growth strategy.
A key component of the company’s strategic blue print for future growth will be a modern core banking system, which will provide a significant technology boost for all operational aspects.