The Board of Directors of Commercial Bank of Ceylon PLC has announced the appointment of Mr Hasrath Munasinghe as Executive Director/Chief Operating Officer of the Bank with effect from 27th April 2026.

He succeeds Mr S. Prabagar, who retires on 26th April 2026 after serving in the position for four years, and completing a distinguished career of more than 30 years with Commercial Bank.

Mr Munasinghe currently functions as Deputy General Manager – Corporate Banking at Commercial Bank and previously served as Deputy General Manager – Retail Banking and Marketing. Over the course of his career at the Bank, he has overseen Corporate Banking, Retail Banking, Digital Banking, Marketing, the Cards Business, Remittances, Customer Experience and Sustainability, guiding these key verticals to deliver sustained growth and strong performance outcomes. Mr Munasinghe also serves as a Trustee of the Commercial Bank CSR Trust.

A corporate executive with 31 years of multidisciplinary experience across Banking, Telecommunications, FMCG and Media, Mr Munasinghe brings more than 20 years of senior management experience to his new role, including 15 years in corporate management at Commercial Bank. 

Throughout his tenure at Commercial Bank, Mr Munasinghe has been instrumental in shaping progressive strategies that align business expansion with long term value creation. Recognised for his expertise in strategy development and business growth, he has consistently delivered measurable impact by driving portfolio expansion, strengthening asset quality and enhancing customer franchise value. He has led large, cross-functional teams across key banking segments to achieve sustained growth, improved profitability and disciplined execution in competitive market environments, while guiding operations through evolving regulatory, technological and market dynamics.

His leadership has received international recognition. Among multiple accolades, he was named one of the ‘Ten Outstanding Young Persons in Sri Lanka,’ ‘Marketing Leader in Asia,’ and one of the ‘Top 100 Global Marketing Leaders.’

He also serves as a Non-Independent, Non-Executive Director of Bank’s fully owned subsidiary CBC Finance PLC and is a Board member of the United Nations Global Compact (UNGC) Network Sri Lanka. In addition, he has served as a Board Director of the Business and Biodiversity Platform of the Ceylon Chamber of Commerce, reflecting his commitment to responsible corporate governance and sustainable development.

An academically accomplished professional, Mr Munasinghe holds a Master of Science in Information Technology from the University of Moratuwa and a Master of Business Administration from the University of Southern Queensland, Australia. He is a Chartered Management Accountant (ACMA, CGMA) of CIMA-UK, a Fellow of the Chartered Management Institute (FCMI) and a Chartered Marketer of CIM-UK.

Commercial Bank is the first Sri Lankan bank with a market capitalisation exceeding US$ 1 Bn. and was also the first bank in the country to be listed among the Top 1000 Banks of the World.  Commercial Bank has the highest capital base among all Sri Lankan banks, is the largest private sector lender in Sri Lanka, and the largest lender to the country’s SME sector.  Ranked No. 1 in the Business Today Top 40, Commercial Bank is recognised as the most respected and most-awarded Bank in Sri Lanka. Commercial Bank is also a leader in digital innovation and is Sri Lanka’s first 100% carbon-neutral bank.

Commercial Bank operates a network of 272 strategically located branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully owned subsidiaries, CBC Finance PLC. and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.