Last Updated : 01-09-2014 16:47

 
 

Cargills to start banking this year

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Cargills (Ceylon) PLC’s venture into the banking industry through Cargills Agriculture and Commercial Bank (CACB) is on track and will commence operations by the end of this year, sources close to the company said.

The sources stated that the bank would be set up through a mix of foreign and local investments and partners, as the Central Bank of Sri Lanka is likely to allow Cargills only to keep less than 50 percent of the new bank’s ownership.

The source further stated that foreign parties who had already invested in CT Holdings, the parent company of Cargills and a promoter of the bank, are unlikely to have any investments in the new bank, meaning that the bank will likely be set up in collaboration with an entirely new set of investors.

He added that the headquarters for the new bank would likely be located at the old Lanka Ceramics showroom near Majestic City, Bambalapitiya, which is currently under refurbishment. However, two other locations in Colombo are also being considered, the source added.

Cargills Bank was granted provisional approval from the Central Bank of Sri Lanka to set up operations in September last year, subject to fulfilling of the routine terms and conditions.

Subsequent to the Central Bank approval, Har ris Premaratane, former Managing Director of Sampath Bank, was appointed as Managing Director and Chief Executive Officer of CACB, with effect from January 1 this year.

However, since Premaratane took his position at CACB, no other high profile appointments have been announced.

Prior to his term at Sampath Bank, starting from October 2008, Premaratane was involved with the private sector banking giant, Commercial Bank.

Cargills has Sri Lanka’s largest supermarket chain with over 180 outlets islandwide. The firm also has a presence in food processing, dairy products and brewing.

 
 

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Comments 

 
-10+12 # Asela Chinthaka 2012-08-31 17:22
welcome to the banking sector in cargills ..i like working new cargills bank ..i hope there..
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-4+7 # Jithmi Somarathne 2012-09-04 08:31
Congratulations cargills bank. I would to be an employee.
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-4+3 # Sasini Madubhashini 2012-09-04 13:20
Congratulations cargills bank. I would like to be an employee.
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-4+2 # Chamari Thushanka 2012-09-12 10:13
Congratulations Cargills.. Love to work in your Bank as a prou member.
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-3+2 # Chamini 2012-09-29 18:48
welcome & congratulations to cargills bank , it is good opportunity for who join to banking sector ,
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# R.A.Deepadarsha 2012-10-04 22:51
Congratulations CACB.....
I would like to be an employee.........
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-3+2 # Indrani 2012-10-05 21:07
I would like to be a Manager/ Asst. Manager of Cargills Bank PLC.
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-3+2 # Miss.Thanuja.V 2012-10-06 15:49
Congratulation.I wouid like to be an employee.
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-3+4 # G.Muralitharan 2012-10-06 20:38
Congratulation.................I like to join with cargills bank as a officer.
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# S.Gowthamy 2012-10-06 20:45
Congratulation...... I would like to join with a staff in Cargills bank.
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-4+2 # akshitha chathuranga 2012-10-08 14:02
Congratulation to your Success.. I like to join with you as a employee.. Good Luck.
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-3+2 # Eranda 2012-10-09 14:31
Well come Cargills Bank, we know Cargills Bank will change the Sri Lankan Banking style. we always with Cargills..............
i like to ba a an employee
Good Luck
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# Randika 2012-10-09 15:15
Welcome & Congratulation to Cargills Bank. I would like to be an employee.
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-3+2 # MALITH KAHAWANDALA 2012-10-14 16:53
Congratulation CACB ! I would like to join as a banking assistant.I'll do my best for the betterment of the new bank.
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# harshani 2012-10-16 12:26
Congratulation CACB ! I would like to join as a banking assistant.I'll do my best for the betterment of the new bank.
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-2+1 # thushara 2012-10-18 15:08
congratulation Cargils. I too like to be a partner of your bank with my 10 years experience in on of the leading private bank in sri lanka as micro finance officer. thank you.
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-1+2 # hamilton Prashanna 2012-10-19 18:25
Congratulations to Cargills Management. I too like to be a dynamic personal to cope with the banking sector of cargills.I just about to complete my B.A.(Hons) degree in near future and hope to be with cargills.
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-1+2 # suvisal 2012-10-20 13:18
congratulation for your success growth........i had completed my CBF and so i following DBF now. i would like to be an employee your bank.
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-1+3 # Rasika pathirana. 2012-10-21 20:30
congratulations to cargilla limited.my country,my price.
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-1+2 # Rasika pathirana. 2012-10-21 20:35
congratulations ,to cargills plc.i love my company.
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-1+4 # A.M.N.C.Abeykoon 2012-10-25 17:46
My Congratulation cargills, I would like to be a partner of your bank with 15 years experiences in specialist bank in Sri lanka of micro finance sector.
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-2+1 # R.Pradeepkumar 2012-11-05 11:28
We are warmly welcome you to the Banking industry also... and i am waiting for be an employee from your bank as soon.
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# D.G Nadeeshani 2012-11-08 09:33
Congratulation............... I would like to join with cargills bank as a officer.
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-1+2 # pubudu mendis 2012-11-09 14:39
I like to be an employee at cargills bank..congratzzz
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-1+2 # Chamini Lakshika 2012-11-12 13:46
Congratulation! I wish your bright future..And I like be an employee at cargills bank. i following CBF course now. And also I have successfully completed Certificate Course in Computer Technology.
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-1+2 # Erandi Jayawardane 2012-11-12 18:14
Congradulations ............ I would like to work at cargils bank.
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-1+2 # Chalitha Saranga 2012-11-15 20:15
Congrtulations! !!....... Im sure that you will be succeed in banking field. I would like to join to your bank.
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-1+2 # Chalitha Saranga 2012-11-15 20:18
congrtulations...... I would like to join to your bank.
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-1+2 # Chalitha Saranga 2012-11-15 20:20
congratulations ...... Im sure that u will be able to reach to the top of the banking field.
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-1+2 # TILANI RANASINGHE 2012-11-16 11:30
Congratulaions...specialiy for new head Mr H.Premaratna
T.T.T.Ranasinghe
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-1+2 # M.Sorubini 2012-11-20 14:40
Congratulaions
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-1+2 # sudarika 2012-11-22 15:05
Congratulations ...!!
I'm sure that you will be able to reach to the top of the Banking field. And I would like to join your Bank.
(I'm a final year undergraduate of University of Sri Jayewardenepura , Faculty of management studies and commerce)
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-1+2 # Tharindu Senanayake 2012-11-23 07:40
Congratulations ......I would like to join with Cargills Bank as a officer.
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-1+2 # HarshaniKumarasinghe 2012-11-23 10:40
congratulations ....I'm sure you will be a super bank in the bank system.
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-1+2 # nimali rajapaksha 2012-11-26 11:05
congratulations ........i would like to join with cargills bank as a officer
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-0+4 # N.G.Rusini Erandu 2012-12-03 09:41
congratulations ...... I would like to join to your bank as a officer.....I do my best for CACB......................
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-0+3 # Asanka Pallewela 2012-12-04 11:04
congratulations !!! I would like to join to your bank.
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-0+3 # Sepali Mangalika 2012-12-05 18:45
Congratulations .....!!!CACB. I think it's a new beginning in sri lankan banking System.I Hope that you will be the top of banking system in the future because Cargills is the best !!! I'm Waiting to work with you and Achieve that Dream.
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-0+2 # G.G shanika madushan 2012-12-06 14:56
Congratulations CACB.....
I would like to be an employee.........
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-0+2 # G.G shanika madushan 2012-12-06 15:02
Congratulations ......I would like to join with Cargills Bank.i did AAt part qualified. presently following AAt final Stage..i can speak in Tamil.. Thank you
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-1+2 # tharmalingam kajendr 2012-12-07 16:01
I like to joint bank employee
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-0+3 # U P kuruppu 2012-12-23 19:52
Firstly i wish all the best. i would like to join CACB staff.
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-0+2 # ayesha marasinghe 2013-01-02 19:30
i like to join in the banking sector of cargills.
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-0+2 # charith gunarathne 2013-02-14 15:39
Congratulations ......I would like to join with Bank. who join to banking sector ,
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-0+2 # Hasanthi Jayasekara 2013-02-24 13:34
Congratulations !!!!! I would like to join with your bank & work with your group. Good luck for your all future plans.
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-1+1 # Sachini Amarasinghe 2013-03-12 12:44
CONGRATULAIONS! ! I would like to join with cargills banks as a junior executive and I wish for your future success
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-0+0 # JMPUSHPIKA 2013-07-02 15:43
congratulations
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-1+0 # Azmara 2013-04-06 13:26
Congratulations !!! I would like to join with cargills bank as a Banking Assistant. my Qualifications are G.C.E O/L, G.C.E A/L (commerce) and AAT part 2 qualified. Thank you!
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