The Commercial Bank of Ceylon PLC has appointed Sivakrishnarajah Renganathan and Sanath Manatunge, two career bankers who have served the Bank for 37 years and 29 years respectively, as Managing Director and Chief Operating Officer effective July 27, 2018.Renganathan, who has been Commercial Bank’s Chief Operating Officer/Executive Director for the past four years, succeeds egan Durairatnam as Managing Director on the latter’s retirement after a 36-year career at the bank.
S. Renganathan is a Fellow of the Chartered Institute of Management Accountants, UK (FCMA), a Chartered Global Management Accountant (CGMA), a Fellow of the London Institute of Banking & Finance, UK (FLIBF) and a Fellow of the Institute of Bankers Sri Lanka (FIB). He has held several key positions in the Corporate Management of Commercial Bank and in July 2003 led the Bank’s acquisition of the Bangladesh operations of Credit Agricole Indosuez (CAI), Commercial Bank’s first ever acquisition of a banking operation.
Sanath Manatunge, who succeeds Renganathan as Chief Operating Officer, currently heads the Corporate Banking and Trade Finance Divisions of Commercial Bank as Deputy General Manager – Corporate Banking. He is also a director of the Bank’s Maldivian subsidiary – Commercial Bank of Maldives and Bank’s IT subsidiary, OneZero Company Ltd.Manatunge also held the position of Chief Risk Officer of the Bank, prior to assuming duties as the Deputy General Manager Corporate Banking.
Under Manatunge, the Corporate Banking Division of the Bank experienced rapid growth in the loan book and in areas such as Trade Finance fee-based income while maintaining the quality of advances.
A Fellow of the Chartered Institute of Management Accountants, UK (FCMA) and a Chartered Global Management Accountant (CGMA), Mr Manatunge has a Master of Business Administration (MBA) degree from the University of Sri Jayewardenepura.
He is also a Fellow Member of the Institute of Bankers – Sri Lanka and a Fellow of the Institute of Certified Management Accountants of Sri Lanka.