Nimal C. Hapuarachchy new CEO at Sanasa Development Bank

Tuesday, 4 March 2014 00:55 -     - {{hitsCtrl.values.hits}}

Sanasa Development Bank PLC yesterday announced the appointment of Nimal C. Hapuarachchi as its new General Manager/CEO with effect from 8 March. The move follows the resignation of M.T. Galgamuwa, a veteran banker and Treasury market specialist, who took over on 1 December 2012. Nimal C. Hapuarachchy possesses over 30 years of all-round domestic and international banking experience with 15 years experience at Senior and Corporate Management Level. He started his banking career in Bank of Ceylon where he gained a comprehensive experience in branch banking, rural credit, industrial credit and international banking. He was privileged to be appointed as the Head of the first ever Special Unit created to provide finance to small and medium enterprises after undergoing special training by the World Bank. In 1987 he joined Hatton National bank at a Senior Executive position and due to his proven performances at HNB, he gradually rose to Chief Manager, Assistant General Manager, Deputy General Manager, and finally as Head of Special Projects within a period of nine years. As head of Domestic Credit Division of HNB for over four years he improved the credit administration, control and  compliance resulting an unprecedented growth of the portfolio and establishment of superior credit quality commended by external agencies such as Central Bank, External Auditors, and Rating Agencies. During the period as head of domestic credit, focus was shifted to rural economy sector to mobilise low-cost funds through micro banking products and services thereby assisting the community to achieve a sustainable relationship with micro level partners. He successfully introduced the international micro finance best practices to sustain the relationship and achieve mutual success. As Deputy General Manager he held additional responsibilities in overall administration of branch network in respect of credit control, supervision and recovery. He was also assigned by the Board of Directors of HNB to study the acquisition of the business of the Colombo branch of Emirates Bank International which was running at a loss at that time and was able to successfully acquire the bank. He was appointed as head of the turnaround team which succeeded in recovering and restructuring 90% of the defaulted advance and was able to turnaround the branch within one year to be one of the highly profitable units. Under his leadership the takeovers of Indosuez Bank and Habib Bank were also carried out successfully. He also functioned as a Director of several companies in his official capacity. He functioned as a permanent member of HNB Bank’s staff committees that decided on HR policies, recruitment and promotions etc. He represented the bank in all relevant international agencies such as the World Bank, the ADB, and USAID to raise funds. He is a professional banker holding Diploma in Banking from institute of Bankers of Sri Lanka and a MBA from Post Graduate Institute of Management if Sri Jayewardenepura University. He was a member of the Board of Study of the Post Graduate Institute of Management as well.