The opening of Cargills Bank also signals the confidence the investors have on the Sri Lankan economy Central Bank Governor, Ajith Nivard Cabraal said .
Speaking at the opening of the Cargills Bank which entered Sri Lanka’s banking and finance industry as the 23rd licensed commercial bank, he said that this also sends positive signals to the international investor community.
The economic development does not happen overnight and it took over four decades for Singapore to develop to the present situation. He said that Sri Lanka is opening new vistas and have also been maintaining a healthy 7.5% average growth which was not an easy task to do. These efforts have also received global recognition where several indicators have raised Sri Lankan standards.
Cargills Bank Limited is a venture promoted by Cargills (Ceylon) PLC and CT Holdings PLC, the parent company of Cargills, and has attracted strong local investors as well as reputed international partners. The total capital infused into the Bank at present stands at Rs. 4.4 Billion. The Bank’s philosophy is founded upon being consistently available to their customers and to simplify their banking transactions by offering simple yet innovative and attractive banking products.
The Guest of Honour for the event was Secretary of Defence and Urban Development, Gotabaya Rajapaksa.
Speaking at the launch, Louis Page, Chairman of Cargills Bank Limited, noted that Cargills Bank, while certainly capitalizing on all industry opportunities and avenues, is more importantly a Bank that will strive towards a unique point of differentiation. “What we aspire to build from today is a culture of commercial banking that facilitates progress and delivers wealth across social and income groups,” he said.
Addressing the gathering, Harris Premaratne, Managing Director and CEO of Cargills Bank Limited said, “Our ultimate aim is to uplift the livelihood of all Sri Lankans. We will also focus on corporate customers and hope to revolutionize the manner in which banking in Sri Lanka is perceived by differentiating on the quality we offer our corporate customers. We will offer services based on their lifestyle and convenience, customized in line with their needs.”
Cargills Bank launched with new banking vision
The Cargills Bank was launched with a vision to create a culture of Commercial Banking that facilitates progress and wealth creation Cargills Bank entered Sri Lanka’s Banking and Finance Industry as the 23rd licensed commercial bank in Sri Lanka with the ceremonial launch of its Head Office at Galle Road, Colombo 3, yesterday.
The launch was presided over by Chief Guest, Governor of the Central Bank of Sri Lanka, Ajith Nivard Cabraal and Guest of Honour, Secretary of Defence and Urban Development, Gotabaya Rajapaksa. Cargills Bank Limited is a venture promoted by Cargills (Ceylon) PLC and CT Holdings PLC, the parent company of Cargills which operates since 1844, and has attracted strong local investors as well as reputed international partners.
The founding Board of Directors of Cargills Bank consist of Louis Page, Chairman, Ranjit Page, Deputy Chairman, Harris Premaratne, MD/CEO, Prabu Mathavan, Deputy MD/CFO, Deva Rodrigo, Mangala Boyagoda and Kamalini De Silva who will provide guidance and strategic direction while ensuring the highest standards of corporate governance and robust risk management systems.
The Bank’s operations will be headlined by a group of top caliber banking executives with vast expertise and exposure to local and international markets. Over the past year, the Bank has recruited and trained a strong cadre of entry level university graduates and school-leavers who have received extensive training to deliver and unsurpassed service standard.
Some highlights from the opening ceremony