This year marks a change of guard at Sampath Bank with the incumbent Chairman of Sampath Bank, Edgar Gunatunge, setting down from his position on September 30, passing on the mantle of chairmanship to Arthur Senanayake, the current Deputy Chairman.

In a press statement, Mr Gunatunge, an industry stalwart and a veteran banker, now 76, expressed mixed emotions as his 55-year stint in the banking industry comes to an end. “I am content that I am leaving the bank in a good state and depart with some wonderful memories of my long association with Sampath Bank,” he was quoted as saying.

In the second half of 1991, he was invited by the Board of Directors of Sampath Bank to set the institution on a strong footing during a particularly rough period in its history. Realising that this could be one of the most challenging assignments of his career, Gunatunge accepted the offer for a period of two years.

But once the two-year deadline had passed, the bank’s stakeholders, impressed with his leadership abilities and the manner in which he had turned around the bank’s fortunes in a short time, convinced him to stay on, the Bank statement said.

“Today, Sampath Bank is very competitive and has made tremendous progress. In fact, the bank is now trying to make its presence felt in the region. We have made a wise investment in a financial company in Bangladesh, which is reaping rich rewards, and we are also in the process of gaining a foothold in India as well. We have an impressive client portfolio today and big plans for the future,” Mr Gunatunge says.
Looking ahead, the incumbent chairman feels the choice of Arthur Senanayake is very apt and extends his heartfelt best wishes to the younger man, pointing out that he will always be on hand to support his successor.

The Bank said that although Mr Gunatunge is bowing out of active duty, he will remain a director on the Boards of several leading quoted companies and continue to inspire the younger generation.
Meanwhile, Mr Senanayake, discussing his appointment as the new Chairman of Sampath Bank, said, “I have been a Board Director at Sampath Bank from the inception and have contributed to its growth over the last 20 years. I wish to thank the Board for their confidence and look forward to their cooperation, advice and guidance during my tenure.” Mr Senanayake said his predecessor steered the bank through difficult times and has led a united and professional Board.

He said his primary focus will be to improve the current shareholder value by benchmarking and implementing targets, which would enable Sampath Bank to maximise profitability to the shareholders and offer international standards of customer service. “I will also look at enhancing our services in the personal banking sector which caters to our premier customers,” he was quoted as saying in the press release. “We have a professional Board, with diverse and rich experience, and I would like to enhance the professional interaction between the Board and the senior management and the staff, through the CEO,” he said.