SMIB announces appointment of new CEO

The State Mortgage and Investment Bank (SMIB) yesterday announced the appointment of experienced banker Thushara Asuramanna as the new CEO, with effect from July 1, 2022.

Prior to his appointment as SMIB CEO, Asuramanna was Vice President of Commercial Credit Management Unit of Nations Trust Bank (NTB). 

Starting his banking career in 1999 with National Development Bank PLC, Asuramanna continued working till 2011 in various capacities attached to the small and medium enterprise (SME) and retail segments. He joined NTB in 2011, with exposure to senior management, SMEs and retail credit risk in its Integrated Risk Management Department.

SMIB Chairman Dr. Udayasri Kariyawasam stated, “Having recognised the importance of SMEs in expansion of our outreach, we are adopting an inclusive financing strategy to strengthen SMEs in various industries with cost-effective financing options and advisory services. Appointment of Thushara Asuramanna as the new CEO is expected to significantly strengthen the bank’s SME outreach. We are confident that he can drive the bank and business to next levels by strategically diversifying the existing portfolio towards SMEs along with the introduction of new technology.”

Asuramanna said, “Being a dominant banker in the housing loans segment, SMIB is set to explore the opportunities in the SME sector in a targeted manner. While focusing on the development of the core competency of the bank, I plan to introduce private sector attributes and knowledge to SMIB to enhance productivity in its working environment so that the bank’s service excellence is driven by customer centricity. All these shall contribute to offering a suite of SME banking services that the Sri Lankan SMEs have been craving for some time.”

Asuramanna holds a First Class Degree in Electrical Engineering from the University of Moratuwa and a Master of Business Administration Degree from the Postgraduate Institute of Management. He is an Associate Member of the Chartered Institute of Management Accountants (ACMA), UK and a Member of the Chartered Global Management Accountants (CGMA). Asuramanna is also a Member of the Institute of Engineering Technology (MIET), UK and an Associate Member of the Institute of Engineers Sri Lanka (IESL). He is also a Certified Expert in SME Finance at the Frankfurt School of Finance and Management.