Sri Lanka

In early 2017, when Dimantha Seneviratne took the reins as chief executive of NDB Bank, he unveiled the bank’s 'Transformation 2020' strategy to strengthen its corporate banking business. The plan, in consultation with the International Finance Corporation, aimed to improve policies toward small and medium-sized enterprises and the microfinance sector, and support businesses led by women.

Sri Lanka has had a rough 12 months, buffeted by a combination of the Covid-19 pandemic, economic shocks and political turmoil. But People’s Bank managed to navigate the choppy waters well, winning Asiamoney’s award for best domestic bank in the country for 2022.

Sri Lanka has had a rough 12 months, buffeted by a combination of the Covid-19 pandemic, economic shocks and political turmoil. But People’s Bank managed to navigate the choppy waters well, winning Asiamoney’s award for best domestic bank in the country for 2022.

The changing of the guard at a systemically important Sri Lankan bank can be alarming even in the best of times. But throw a political and economic crisis into the mix and the situation becomes even more fraught.

Faced with a political and economic crisis, Sri Lanka’s top bank chief executives took matters into their own hands to prevent a collapse of the country’s financial system.

As the economy lands with a thud, there’s a dearth of talent in Colombo’s official ranks. Pragmatic diplomacy might now be a better option for the embattled Rajapaksa clan.

The profligate island’s economy is in meltdown, but authorities appear clueless about how to fix it. The government has consulted the IMF, but a bailout is by no means assured.

Commercial Bank of Sri Lanka, the island’s biggest non-government bank, has had a relatively good crisis thanks to strong discipline and leadership.