Dinesh Weerakkody next HNB Chairman

Former Commercial Bank Chairman Dinesh Weerakkody will take over from incumbent HNB Chairman Rienzie Arseculeratne PC on 26 May, according to a declaration made by the bank to the CSE yesterday.

Arseculeratne retires as per the Central Bank direction, having reached the age of 70.

Weerakkody chaired the Government-appointed Committee on Banking Sector Consolidation in 2015. He is a former Chairman of the Employers’ Trust Fund Board of Sri Lanka and was a Director of DFCC Bank. 

Market sources hailed the appointment, given that Weerakkody is one of the most experienced bank directors, having served nine years with Commercial Bank and eight years with DFCC Bank.

In 2017, HNB posted a Profit After Tax (PAT) of Rs. 16.5 billion, reflecting growth of 16.4% Year-on-Year (YoY). Group PAT improved to Rs. 16.7 billion, while the Group’s asset base crossed the Rs. 1 trillion milestone during the year. 

Last year HNB was recognised domestically and internationally for its outstanding performance, and was crowned the ‘Best Bank in Sri Lanka’ by the coveted Banker Magazine UK.