Anil Amarasuriya, a veteran Banker and former MD/CEO of Sampath Bank PLC has been appointed as Director/Chief Executive Officer of Union Bank of Colombo Ltd with effect from 05 October 2010.
Amarasuriya’s association with Union Bank dates to 2003 when he spearheaded its restructure, when Sampath Bank and a group of investors infused capital to Union Bank. Since 2009 he has been Director/Consultant of Union Bank and has been instrumental in the Bank’s business re-engineering process through a new strategic direction to reposition Union Bank as the preferred Bank for the SME and Retail Banking Sectors.
His tenure as MD/CEO of Sampath Bank with which he was associated from 1989 to 2008 saw that Bank progressing rapidly both in terms of expansion of its branch network as well as business growth and profitability.
He was also primarily responsible for Sampath Bank’s acquisition of a sizable stake in Vanik Bangladesh and its subsequent restructure and re-branding as Lanka Bangla Finance Ltd which is today a highly profitable venture quoted in the Dhaka and Chittagong Stock Exchanges.
Amarasuriya’s vision is for Union Bank to emerge as a Powerhouse in the Sri Lankan banking sector leveraging on the emerging economic prospects in post war Sri Lanka. Consequent to the recent successful capital infusion of Rs 2 bn in Union Bank by both local and foreign investors, he plans to enhance the Bank’s brand image by strategically increasing its presence throughout Sri Lanka as well as by value additions to existing products, introduction of new products and services and alternate delivery channels supported by state of the art systems.
Amarasuriya is a Fellow of the Institute of Chartered Accountants, Sri Lanka and the Institute of Management Accountants, UK and an Honorary Fellow of the Institute of Bankers, Sri Lanka.