Chandula Abeywickrema steps down as Chairman of PMF Finance

PMF Finance PLC announced the resignation of Chandula Palitha Abeywickrema from the position of Chairman and Independent Non-Executive Director, effective October 1, 2025.

Abeywickrema was appointed Chairman in 2019 at a time when the company was burdened by a significant loss of Rs.93 million, an asset base of Rs.2.8 billion and a severely eroded public image. Over the years, he played a pivotal role in leading a strategic restructuring process grounded in good governance, compliance and financial discipline, the company said.

Under his leadership, PMF Finance reported a compound annual growth rate (CAGR) of 38.09 percent in gross income from 2019 to 2025, with net interest income growing at 47.54 percent CAGR. Profitability saw a turnaround from a Rs.93 million loss to a Rs.322 million profit, while shareholder equity expanded from Rs.143 million to over Rs.3 billion.

Reflecting on his departure, Abeywickrema stated, “My time at PMF was driven by the belief that sound leadership, discipline and integrity can revive even the most distressed institutions. I am grateful to have worked alongside a board and team that shared this vision. As I step down, I do so with confidence that the company is well-positioned for its next phase of growth and impact.”

The board of directors and Central Bank of Sri Lanka have approved his resignation, alongside the resignations of three other Non-Executive Independent Directors: Joseph Travis Waas, Rohan Gerald Pandithakorralage and Kaniska Lilantha Weerasinghe.

PMF Finance has confirmed that these resignations are part of a planned leadership transition and that the company will continue to operate with a renewed focus on agility, governance and stakeholder value creation.