26 January 2024 09:46 am Views - 765
Dimantha Seneviratne
National Development Bank PLC (NDB) Director and CEO Dimantha Seneviratne is set to retire from service on January 31, 2024.
This signifies the end of an illustrious banking career spanning over 34 years, 10 of which were in the capacity of CEO in two of Sri Lanka’s listed banks, NDB and Pan Asia Banking Corporation PLC (PABC).
Dimantha assumed duties as CEO of NDB on January 01, 2017 and was pivotal in charting a new course for one of Sri Lanka’s premier banks, with a unique proposition combining universal commercial banking and unmatched development banking prowess. Proving his signature competence in transformative leadership, Seneviratne restrategised NDB’s mission to be a digi-savvy and customer-centric bank, reaching out to wider and deeper customer segments with impactful banking solutions. Seneviratne was instrumental in the meticulous execution of transformational business strategies, which propelled NDB to the fourth position from the previous seventh position amongst the listed banks in Sri Lanka, within three years.
He also leveraged the unique proposition offered by the wider NDB group, which includes full-spectrum capital market solutions, unmatched by any other financial institution in the country. Seneviratne’s leadership included the entire NDB group unifying the teams in one direction, towards a common goal.
Seneviratne provided leadership during a tenure of heightened external environment shocks with direct and intense impact on the banking sector such as the Easter Sunday terror attacks in 2019, COVID-19 pandemic through 2020-2021 and financial crisis in 2022. The agility, versatility and empathy of his leadership ensured that not just NDB’s but the entire Sri Lankan banking industry’s interests were safeguarded.
He chaired the Sri Lanka Banks’ Association in 2020, through the pandemic and spearheaded many efforts in close collaboration with peer bank CEOs, regulators, etc., in establishing measures that preserved the sector stability, employee wellbeing and customer resilience. A notable achievement during his tenure was securing direct foreign investments into the country with Norway’s Norfund (Norwegian Investment Fund for developing countries) by way of an anchor shareholder to NDB in 2021, at a time global investor sentiments about Sri Lanka were less than favourable. This timely investment powered NDB’s growth blueprint whilst securing continuous technical and best-practice knowledge transferring from the investor.
Several strategic and impactful realignments were effected by Seneviratne over the past seven years, which earned NDB as well as the economy at large lasting benefits. Most notable amongst them is the legacy he created through digitisation introduced at the bank in both internal processes and customer solutions, which has placed NDB on a future-ready launchpad for accelerated growth. Deep integration of environmental, social and governance aspects in the NDB’s way, identifying the women’s market segment and exports as critical segments that require added support with the potential to spur economic growth and community empowerment through curated banking solutions are also among the numerous initiatives he led from the front. Such realignment saw industry-leading digital innovations, flagship initiatives such as Sri Lanka Vanithabhimana, Bank2U, NDB Cares, Jayagamu Sri Lanka Export Drive, etc., bringing convenience and empowerment to thousands of Sri Lankans.
Furthermore, the positive transformation the bank achieved has been far-reaching covering multiple performance aspects such as financial, product and digital innovation, customer-centricity, corporate sustainability, employee relations, investor relations, etc. Numerous external endorsements from local and national bodies NDB secured over the years during Seneviratne’s tenure testify to this. Some key highlights are Best Bank in Sri Lanka as adjudged by Euromoney and Global Finance USA, Bank of the Year by The Banker UK and being adjudged the Most Awarded Corporate in Sri Lanka by LMD for two consecutive years in 2021 and 2022.
Seneviratne leaves behind the legacy of having nurtured a competent set of professional leaders at the top, fostering a dynamic and inclusive corporate culture where in-grown talent flourishes with new blood swiftly aligned and fortifying the bank’s internal processes, systems and people thereby preparing the bank for the next phase of growth. He remains one of the few banking CEOs who brings in a unique fusion of domestic and cross-border exposure across multiple countries in banking and finance.
Before joining NDB, Seneviratne was CEO of PABC for three years, during which he gained invaluable exposure in the local domain, which stood him in good stead in driving numerous core banking solutions to a wide range of customer segments at NDB. He also carries to his credit 15 years with the HSBC group, where he held several senior leadership roles, including Chief Risk Officer in several jurisdictions covering Sri Lanka, the Maldives, Bangladesh and Thailand.
Seneviratne’s contribution to the upliftment of the Sri Lankan banking sector has been far-reaching and impactful and has been in multiple forms. During 2009/2010, Seneviratne served as President of the Association of Professional Bankers (APB), before which he held various other positions, including the position of Honorary Advisory Council Member. During his presidency, the APB, along with the Institute of Bankers of Sri Lanka (IBSL) introduced offering Continuous Professional Development points for participation at the APB guest lectures, with a bid to encourage the IBSL membership to participate in such guest lectures and update their knowledge and awareness. This CPC points system continues to date.
Seneviratne is a Fellow Member of the Chartered Institute of Management Accountants - FCMA (UK), CGMA and a Senior Fellow Member (FIBs) of the IBSL. He holds an MBA from the Postgraduate Institute of Management, University of Sri Jayewardenepura and B.Sc. from the same university. He is also a Postgraduate Diploma Holder in Computer System Design from the National Institute of Business Management and has attended several overseas trainings, including the High Potential Leadership Programme at the Harvard Business School, Boston, USA, in 2016.
Seneviratne has been decorated as the Best Banking CEO by numerous awarding bodies such as the CEO Magazine of Sri Lanka in 2023, Global Banking & Finance Review UK in 2021 and 19th Asian HR Leadership Awards in 2021.
Post-retirement, Seneviratne is expected to continue his contribution to Sri Lanka’s reviving economy and the corporate sector at large by making use of his substantial practical exposure gained in leading two local banks for over a decade, overseas exposure at country leadership level across multiple cultures, regulatory environments, involvement in debt structuring, including international debt markets negotiations, investor relations on capital market developments, etc.