June 30, 2014 (LBO) – Cargills Bank Plc, Sri Lanka’s newest commercial bank promoted by listed Cargills (Ceylon) Plc and CT Holdings opened for business Monday. The bank was issued a provisional license shortly before the Central Bank started a process to consolidate the banking sector.
Central Bank Governor Nivard Cabraal said as Sri Lanka emerged from a 30-year war and already the changes were beginning to be seen and the new bank could grow with the country.
Chairman Louis Page said the bank will cater to all social and income groups.
Managing Director Haris Premaratne said key Sri Lankan business groups and entrepreneurs including Merril J Fernando, Mahesh Amalean, Ashok Pathirage, Melwa group, Hydramani group, Phoenix Ventures, Ishara Traders and Lalan Rubbers had invested in the bank.