MBSL rings the bell to celebrate 40 years

Thursday, 10 March 2022 00:00 - - {{hitsCtrl.values.hits}}

MBSL AGM Finance and Strategic Planning Purna Kandanaarachchi, DGM Marketing and Product Development Jude Gamalath, Colombo Stock Exchange CEO Rajeeva Bandaranaike, MBSL Senior Director A.M.A. Perera, BOC and MBSL Chairman Kanchana Ratwatte, MBSL CEO Dammika Hapuhinna, AGM Recoveries Asela Liyanage and AGM Fixed Deposits, Savings, Pawning and Treasury Front Office Kumudu Jayasundara

Merchant Bank of Sri Lanka and Finance PLC (MBSL) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) on 4 March to celebrate its 40th year anniversary.

BOC and MBSL Chairman Ratwatte addresses the ceremony

Special market opening ceremonies are organised by the CSE as a platform for listed companies to celebrate corporate milestones and as a call to action for causes and developments that are significant to our business community, economy, and society at large.

MBSL and its parent Bank of Ceylon Chairman Kanchana Ratwatte, Senior Director A.M.A. Perera, MBSL Board of Directors, Chief Executive Officer Dammika Hapuhinna, DGM Marketing and Product Development Jude Gamalath, Assistant General Manager Recoveries Asela Liyanage, Assistant General Manager Fixed Deposits, Savings, Pawning and Treasuries Front Office Kumudu Jayasundara, Assistant General Manager Finance and Strategic Planning Purna Kandanaarachchi and the Senior Management of MBSL were represented at the event. The CSE was represented by CEO Rajeeva Bandaranaike and the senior management of the exchange.

Speaking at the ceremony Bandaranaike, congratulated MBSL on their 40th anniversary and on their contribution to the Sri Lankan financial services sector. “The approach and direction provided by the leadership of MBSL over the years no doubt enabled it to become an established financial services institution in the country. The progress at MBSL, of course, would not have been achieved overnight and would involve a substantial level of commitment and hard work on the part of the leadership as well as its staff to offer value to the client’s shareholders and stakeholders. The company has been actively involved in the capital market as it raised over Rs. two billion of further capital recently from the capital market. This has given investors an opportunity to be part of the growth of the company,” Bandaranaike said.

Speaking at the event, BOC and MBSL Chairman Ratwatte, thanked the CSE for having MBSL to celebrate the 40th year anniversary at the CSE trading floor. “We had our ups and downs as an institution. From the inception, the bank had the huge advantage of being given birth by a giant institution. As the parent company, BOC, on numerous occasions, has come to the aid of MBSL. The strength of BOC brought MBSL to what it is today. It is commendable that within a period of one year, when the country and the globe were in turmoil, MBSL went through a remarkable change in attitude and in results. It’s a value addition for us, and it’s a value addition for all stakeholders. And very humbly, we like to say that we would like to contribute towards CSE’s growth as an entity and as a partner who has been with CSE since the year 1995.”

MBSL is a subsidiary of the BOC, the largest State-owned commercial bank in Sri Lanka. MBSL provides a range of secure investments for the funds, together with financial support for the growth and development of its vastly diversified set of customers.