Financial Times

DFCC Bank drama ends on damp note
Despite much hype about DFCC Bank chairman Nihal Jinasena, being ousted and a new director appointed in place of Mahendra Amarasuriya who resigned last month, the bank’s annual general meeting ended without the anticipated fireworks on Thursday. Amarasuriya’s replacement at the DFCC board had not been announced.

Many expected Jinasena to be ousted, as it was believed that he had angered major shareholder at DFCC and Commercial bank, Harry Jayewardena during an AGM, when he cast the decisive vote for Amarasuriya, helping to secure Amarasuriya’s position as chairman for another year.

It was also expected that Rajan Britto would take up the chairmanship at DFCC. “The only drama that took place was that about 10 minutes before the meeting stopped, many ran to where the food was served to gobble everything up and ultimately people who came after the meeting did not have anything, not even sugar for their coffee,” a participant told The Sunday Times FT.

Back to Business