Nishaman Karunapala appointed as GM/CEO of HDFC Bank

Financial services sector professional Nishaman Karunapala has been appointed as General Manager/CEO of HDFC Bank PLC, with effect from January 4, 2023.

Karunapala possesses over 25 years of experience in the financial services industry, particularly in the areas of corporate strategy, systems and process development, risk management, business development, trade and project finance, leasing and factoring. He was the founding Director/Chief Executive Officer of Melsta Regal Finance Ltd – a former subsidiary of Melstacorp PLC, for over five years, prior to its acquisition by a consortium of foreign and private equity investors.

 He led the strategising and positioning of the entity as a revolutionary player in the industry with novel product offerings. 

Subsequently, he also served as CEO of the Merchant Bank of Sri Lanka & Finance PLC and Director of MBSL Insurance Co. Ltd. 

He was a Vice Chairman of the Financial Houses Association and has twice served as Chairman of the Leasing Association of Sri Lanka. He was also a committee member of the Ceylon Chamber of Commerce, a former Director of the Credit Information Bureau of Sri Lanka and a Council Member of the Sri Lanka Institute of Credit Management. 

Karunapala’s 35-year career commenced at reputed multinationals such as A. Baur & Co. Ltd and Ansell Lanka. In the financial services industry, he led the establishment of Orient Finance PLC in 2003 and served nine years until his departure as Deputy General Manager. 

He has also held key roles at Seylan Merchant Bank and Mercantile Leasing Limited. 
His training and exposure spans across the UK, Ireland, Singapore, India, Japan and the Philippines in relation to systems and operational procedures of reputed corporates and financial institutions. 

He currently holds directorships in the Lassana Flora group. As a Management Consultant, Karunapala has advised entities in e-commerce, agriculture, manufacturing and hospitality sectors in areas of securing local and foreign-funded grants and debt financing. He has also provided strategic guidance to strengthen governance, operational performance and facilitate external equity financing. 

He received his MBA - Banking and Finance from the Postgraduate Institute of Management (PIM) and a BSC-Business Administration (Special) Degree from the University of Sri Jayewardenepura. 

He also holds a Postgraduate Level Diploma in Modern Commercial Banking from PIM and is a Member of the Certified Management Accountants (Australia).