Kanchana Ratwatte appointed MBSL Chairman

The incumbent Bank of Ceylon (BOC) Chairman Kanchana Ratwatte has been appointed as the Chairman of Merchant Bank of Sri Lanka (MBSL) with effect form September 30, 2020.

Ratwatte will function as a Non-Independent Non-Executive Chairman/Director of MBSL as BOC owns over 80 percent of MBSL’s issued shares.

A stock exchange filing by MBSL said required regulatory approval for Ratwatte’s appointment has been duly obtained from the 
Central Bank in July.

Following Ratwatte’s appointment, MBSL Non-Executive Director A.M.A Perera was appointed as ‘Senior Director’ with effect from September 30, 2020 since Ratwatte is not ‘Independent’.

Other Directors of MBSL are: W.P.R.P.H Fonseka (Non Executive/Non Independent Director), M. P. R. Kumara (Alternate Director to W.P.R.P.H. Fonseka), D. N. L. Fernando (Non-Executive Non Independent Director), N. S. Punchihewa (Non-Executive / Independent Director) and W. N. P. Surawimala (Non-Executive / 
Non-Independent Director).