More bank directors resign

1 April 2015 04:32 am

Several directors have resigned from the boards of two leading private-sector banking corporations during their Annual General Meetings this week.

According to announcements on the Colombo Stock Exchange, National Development Bank PLC Directors Anura Siriwardena and Sujeewa Rajapakse, as well as Commercial Bank of Ceylon PLC Director Lakshman Hulugalle have tendered their resignations to the respective boards.

The resignations are a continuation from last week, when NDB Chairman S. J. Wijesinha and Hatton National Bank PLC Chairperson Dr. Ranee Jayamaha tendered their resignations. Wijesinha had cited Finance Minister’s intentions to reconstitute the board as his reason for stepping down.

Policy Planning and Economic Affairs Deputy Minister Dr. Harsha de Silva recently said that the state would use its considerable share ownership in commercial banks to clean the boards of corruption, despite protesting the previous regime’s influence over the banking sector during the opposition.