Cargills to start banking this year

26 June 2012 04:38 am - 49 - {{hitsCtrl.values.hits}}

A A A

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.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 49

Sepali Mangalika Wednesday, 05 December 2012 01:15 PM

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.

Erandi Jayawardane Monday, 12 November 2012 12:44 PM

Congradulations............ I would like to work at cargils bank.

Chalitha Saranga Thursday, 15 November 2012 02:45 PM

Congrtulations!!!....... Im sure that you will be succeed in banking field. I would like to join to your bank.

Chalitha Saranga Thursday, 15 November 2012 02:48 PM

congrtulations...... I would like to join to your bank.

Chalitha Saranga Thursday, 15 November 2012 02:50 PM

congratulations...... Im sure that u will be able to reach to the top of the banking field.

TILANI RANASINGHE Friday, 16 November 2012 06:00 AM

Congratulaions...specialiy for new head Mr H.Premaratna
T.T.T.Ranasinghe

M.Sorubini Tuesday, 20 November 2012 09:10 AM

Congratulaions

sudarika Thursday, 22 November 2012 09:35 AM

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)

Tharindu Senanayake Friday, 23 November 2012 02:10 AM

Congratulations......I would like to join with Cargills Bank as a officer.

HarshaniKumarasinghe Friday, 23 November 2012 05:10 AM

congratulations....I'm sure you will be a super bank in the bank system.

nimali rajapaksha Monday, 26 November 2012 05:35 AM

congratulations........i would like to join with cargills bank as a officer

N.G.Rusini Erandu Monday, 03 December 2012 04:11 AM

congratulations...... I would like to join to your bank as a officer.....I do my best for CACB......................

Asanka Pallewela Tuesday, 04 December 2012 05:34 AM

congratulations !!! I would like to join to your bank.

Chamini Lakshika Monday, 12 November 2012 08:16 AM

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.

G.G shanika madushan Thursday, 06 December 2012 09:26 AM

Congratulations CACB.....
I would like to be an employee.........

G.G shanika madushan Thursday, 06 December 2012 09:32 AM

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

tharmalingam kajendr Friday, 07 December 2012 10:31 AM

I like to joint bank employee

U P kuruppu Sunday, 23 December 2012 02:22 PM

Firstly i wish all the best. i would like to join CACB staff.

ayesha marasinghe Wednesday, 02 January 2013 02:00 PM

i like to join in the banking sector of cargills.

charith gunarathne Thursday, 14 February 2013 10:09 AM

Congratulations ......I would like to join with Bank. who join to banking sector ,

Hasanthi Jayasekara Sunday, 24 February 2013 08:04 AM

Congratulations!!!!! I would like to join with your bank & work with your group. Good luck for your all future plans.

Sachini Amarasinghe Tuesday, 12 March 2013 07:14 AM

CONGRATULAIONS!! I would like to join with cargills banks as a junior executive and I wish for your future success

Azmara Saturday, 06 April 2013 07:56 AM

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!

JMPUSHPIKA Tuesday, 02 July 2013 10:13 AM

congratulations

N.K.Geethika Nisansala Thursday, 06 November 2014 03:47 PM

Congratulations CACB...! and I would like to join with you as one of your staff members...

Randika Tuesday, 09 October 2012 09:45 AM

Welcome & Congratulation to Cargills Bank. I would like to be an employee.

Jithmi Somarathne Tuesday, 04 September 2012 03:01 AM

Congratulations cargills bank. I would to be an employee.

Sasini Madubhashini Tuesday, 04 September 2012 07:50 AM

Congratulations cargills bank. I would like to be an employee.

Chamari Thushanka Wednesday, 12 September 2012 04:43 AM

Congratulations Cargills.. Love to work in your Bank as a prou member.

Chamini Saturday, 29 September 2012 01:18 PM

welcome & congratulations to cargills bank , it is good opportunity for who join to banking sector ,

R.A.Deepadarsha Thursday, 04 October 2012 05:21 PM

Congratulations CACB.....
I would like to be an employee.........

Indrani Friday, 05 October 2012 03:37 PM

I would like to be a Manager/ Asst. Manager of Cargills Bank PLC.

Miss.Thanuja.V Saturday, 06 October 2012 10:19 AM

Congratulation.I wouid like to be an employee.

G.Muralitharan Saturday, 06 October 2012 03:08 PM

Congratulation.................I like to join with cargills bank as a officer.

S.Gowthamy Saturday, 06 October 2012 03:15 PM

Congratulation...... I would like to join with a staff in Cargills bank.

akshitha chathuranga Monday, 08 October 2012 08:32 AM

Congratulation to your Success.. I like to join with you as a employee.. Good Luck.

Eranda Tuesday, 09 October 2012 09:01 AM

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

Asela Chinthaka Friday, 31 August 2012 11:52 AM

welcome to the banking sector in cargills ..i like working new cargills bank ..i hope there..

MALITH KAHAWANDALA Sunday, 14 October 2012 11:23 AM

Congratulation CACB ! I would like to join as a banking assistant.I'll do my best for the betterment of the new bank.

harshani Tuesday, 16 October 2012 06:56 AM

Congratulation CACB ! I would like to join as a banking assistant.I'll do my best for the betterment of the new bank.

thushara Thursday, 18 October 2012 09:38 AM

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.

hamilton Prashanna Friday, 19 October 2012 12:55 PM

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.

suvisal Saturday, 20 October 2012 07:48 AM

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.

Rasika pathirana. Sunday, 21 October 2012 03:00 PM

congratulations to cargilla limited.my country,my price.

Rasika pathirana. Sunday, 21 October 2012 03:05 PM

congratulations,to cargills plc.i love my company.

A.M.N.C.Abeykoon Thursday, 25 October 2012 12:16 PM

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.

R.Pradeepkumar Monday, 05 November 2012 05:58 AM

We are warmly welcome you to the Banking industry also... and i am waiting for be an employee from your bank as soon.

D.G Nadeeshani Thursday, 08 November 2012 04:03 AM

Congratulation............... I would like to join with cargills bank as a officer.

pubudu mendis Friday, 09 November 2012 09:09 AM

I like to be an employee at cargills bank..congratzzz

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Cargills to start banking this year

Comments - 49

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

23 year old youth ends up having his testicles removed

Street food vendor arrested for verbally harassing foreigner

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

Former MP Palitha Thewarapperuma dies from electrocution

April 15 declared a government holiday

SL on alert on possible genocide allegations by Canada

MIRROR CRICKET

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

Chamodi, Dewmi spins Sri Lanka U19 Women to big win

TODAY'S HEADLINES

Wild elephants pull down 16 telephone poles

Middleman arrested for price gouging at Kalutara eatery

Bondholders’ agreement delay won’t hinder IMF third tranche payout: Dr. Coomaraswamy

Party leaders to shoot down MPs request for concessionary duty free vehicle permits

Hardik fined Rs 12 lakh for violating IPL code of conduct after win over Punjab Kings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings