HNB’s Damith Pallewatte named Sri Lanka’s ‘Bank CEO of the Year 2025’

HNB Managing Director/CEO Damith Pallewatte (right) receiving the award from CBSL 

Governor Dr. Nandalal Weerasinghe in the presence of Global CEO Magazine Founder Anura Siriwardena (left) 

Following a record-breaking year for Sri Lanka’s largest private sector retail bank, Hatton National Bank (HNB) PLC Managing Director/CEO Damith Pallewatte has been named Sri Lanka’s  ‘Bank CEO of the Year 2025’  by the Global CEO Forum.  

The CEO of the Year Awards, which was hosted at Cinnamon Grand Colombo, recognises leadership excellence in the corporate sector across organisational performance, governance standards, and industry impact, and serves as a national platform that brings together senior business leaders alongside key representatives from Government and the diplomatic community.

HNB’s robust risk governance framework, unique innovations drive and expansion of digital capability, transformation of its people and processes, and clearly defined five-year strategy focused on accelerating growth and revitalizing the grassroots economy were among the key considerations underpinning the recognition of the best CEO Award. 

Pallewatte said: “Since inception, HNB has served as a reliable and trusted partner in Sri Lanka’s growth story. Since my appointment almost two years ago first in the acting capacity, our goal has been to protect and enhance this legacy. We have stayed true to our roots, with great initiatives like Gami Pubuduwa and Sarusara working to build financial inclusion, and create ecosystems in which micro, small and medium enterprises (MSMEs) can thrive, connect to value chains, and even build export capacity.”

“Especially over the past year, we were very strategic about growing our loan book in order to channel support, resources and expertise to sectors within the Sri Lankan economy with an exponential growth potential. Over the next five years, we aim to accelerate these efforts leveraging digital innovation to empower a new generation of entrepreneurs to take Sri Lankan products to the world. And we plan to be with them every step of the way,” he added. 

Pallewatte’s award follows a year of sustained momentum for HNB PLC. During the year, the Group recorded strong growth in profitability, alongside continued balance sheet expansion, with the bank’s asset base expanding to Rs. 2.39 trillion as at end-December 2025. For the year ended 31 December 2025, HNB reported a Group-level Profit After Tax (PAT) of Rs. 49.8 billion and bank-level PAT of Rs. 45.4 billion, while Gross Loans and Advances exceeded Rs. 1.5 trillion and deposits crossed Rs. 2 trillion at Group level, reflecting consistent progress across the period.

HNB’s performance demonstrated an emphasis on scaling growth with discipline. This was reflected in sustained improvements in asset quality, and capital and liquidity buffers maintained above regulatory minimums despite notable growth in the bank’s loan portfolio. During the year, the bank also secured ISO 22301:2019 Business Continuity Management certification, reinforcing its focus on operational resilience and service continuity.

Pallewatte brings a background spanning banking, credit, operations, strategy and risk management. He was appointed Managing Director and CEO of HNB PLC with effect from 22 November 2024, following his earlier appointment as Acting CEO in April 2024, and has held senior leadership roles across the organisation, including within wholesale banking and risk management leadership.