Transition

Feb 17, 2008 (LBO) – Sri Lanka’s NDB Bank has announced that its Deputy Chief Executive Officer Eran Wickramaratne will succeed Nihal Welikala as the Chief Executive from April 1 after the latter’s retirement. Both are former officers of the Citibank NA, Colombo.

Wickramaratne joined NDB in April 1999 and has been closely associated with the transformation of the bank from its project finance roots to building a commercial and retail business, a bank statement said.

He joined NDB from Citibank where he was Vice President and Corporate Bank Head.

In addition to his private sector experience, he was founder Chairman of the government Information Communication Technology Agency and has also served as a Director of the Board of Investment.

In recent years, the NDB Group has restructured and repositioned itself from being a government owned development bank, to that of a fully integrated commercial bank with specialist skills in project finance, capital markets and insurance, the statement said.

It now has 40 branches across the country with consumer products such as housing finance, personal loans, auto-leases, foreign remittances, and deposits.

Welikala, NDB’s chief executive