A. Sarath de Silva: The development banking colossus of our times

Appreciation

Having failed to render a eulogy at his funeral, I hasten to pen this appreciation as one of the long-time subject officers of Sarath de Silva, former General Manager of Bank of Ceylon (BOC) (2000-2002).

Sarath De Silva

My association with de Silva commenced in 1979 when I was transferred to Agriculture Credit Division after a stint of nearly six years in the Agricultural Service Centre (ASC) Branches and the Regional office of BOC in the North Central Province.  

Quite evidently, he was the livewire that changed the character of the conservative, commercially-oriented BOC, with the introduction of ‘Development Banking’ under a ‘Mixed Banking Model’ when he joined the Late General Manager M. Moheed who pioneered the establishment of the island-wide ASC branch network (300 approx.) of BOC in the early 1970s. 

Different credit channels such as ‘The New Comprehensive Rural Credit Scheme (NCRCS),’ ‘Janasaviya’, ‘Samurdhi’ and ‘Surathura’ credit schemes, ‘Praja Naya Niyamaka (PNN) Scheme, ‘New Enterprise Scheme’ (NES) and the ‘Ran Surekum Naya Seva’ scheme come to my mind, amongst a plethora of other agricultural and self-employment credit schemes that were launched during his tenure as the Head of the Agricultural Credit Division and Deputy General Manager – Development Banking. 

His staunch commitment to uplift the lot of the small farmers and the priority sectors through rural credit made him and the BOC well known among the local population as well as international development banks/agencies such as the World Bank, Asian Development Bank (ADB) and Asia Pacific Rural Agricultural Credit Association (APRACA) which sought his expertise as a rural credit and development banking specialist. 

Having recognised at that time the dual need to have a feeder net-work of branches for deposit mobilisation and make ‘low cost institutional credit’ accessible to small farmers in the periphery, he ingeniously resisted recommendations by the World Bank and the IMF to rationalise the ASC branch network as well as the staff cadres of BOC under the guise of the bank’s re-structuring process.

It was a tryst of destiny that after his tenure as the Deputy General Manager (Development Banking) he was designated as the Deputy General Manager (Corporate Banking) ostensibly grooming him to take over the reins of the General Manager of BOC in the latter part of year 2000, which by the way, was his mother’s wish when he joined the BOC in 1965 as a Sub-Accountant.

Despite being an old Royalist with a superb command of both Sinhala and English languages, he always preferred to use his mother tongue, placed his signature in Sinhala and even donned the national dress at school functions. In addition to his basic Degree in Public Administration, de Silva won the unique distinction of being conferred as a Fellow of the Institute of Bankers (London), a Fellow of the Institute of Bankers Sri Lanka as well as a fellow of the Institute of Financial Studies (FIFS-London). 

He possessed the rare trait of keeping his audience spellbound with his well-regulated voice and witty repartees. His deliveries to bank officers as an Associate Faculty member of the BOC’s Training Institute and outside always won excellent evaluation ratings. He was instrumental in launching popular radio programs such as ‘Rata Wata Avurudu’ and ‘Rata Wata Naththal’ where he led the BOC team with much aplomb.

From his early days at the BOC, de Silva exhibited robust leadership qualities that made him the Secretary of the BOC Staff Officers’ Association and the President of the BOC Buddhist Association amongst many such others in his milieu. Thus, in addition to his banking expertise, he became well known for his administrative capabilities, social recognition, Honesty and charisma, even among the powers that be, irrespective of political hues. 

de Silva’s services were in high demand that immediately after his retirement he was called upon to serve as chairman/president of several financial sector institutions as well as professionally un-related national level Institutions such as Sri Jayewardenepura General Hospital, State Pharmaceutical Corporation and National Enterprise Development Authority where he initiated several measures to root out waste and corruption risking his own popularity. 

Accordingly, he can well be regarded as the only retired banker of Sri Lanka who has served the most number of national level institutions at top level, substantiating his invaluable contribution to the country at large.

However, above all, de Silva was a great human being who preferred to move with the ordinary people due to his concern for the oppressed class of the society. Despite being a power house of knowledge, he was a great listener. De Silva’s sad and untimely loss as the President of the Bank of Ceylon Pensioners’ Association leaves a big void at a time when several crucial issues affecting the pensioners are under active discussion. 

Though much more can be penned about this unique personality, I conclude this short appreciation with a few interesting quotes which De Silva frequently uttered during his deliveries.

“A good banker is not a person with a super intelligence but one who uses ‘common sense’ in good measure” – referring to a textbook titled ‘Logic of Banking’ by Prof. J.W. Gilbert.

“Credit schemes are like ‘omni-buses’; the stronger ones board them leaving the needy behind.”

“BOC’s decision to serve the common man and the rural poor made them come forward to protect the bank at times of insecurity, as was amply demonstrated during the turbulent days of arson and robberies of banks in the seventies and eighties.”

“Make BOC the largest bank serving the smallest man.”

“Banks should act as instruments that reduce economic, social and provincial imbalances in the society.”

“Bear in mind that your juniors are working with you, not under you” – addressing his senior officers.

“Retirement from service is not the end; it is only a termination of one’s contract with the employer.” 

De Silva leaves behind his beloved wife Anoma (retired BOC), his three loving children and his only sister Chithra. May he attain the supreme bliss of Nibbana.

Bernard Fernando,

Retired DGM – BOC