Commercial Bank MD/CEO Sanath Manatunge Named Chairman of EFC
Mr Sanath Manatunge, the Managing Director/Chief Executive Officer of Commercial Bank of Ceylon has been appointed Chairman of the Employers’ Federation of Ceylon (EFC), one of the country’s most influential apex business bodies representing the interests of employers across a wide spectrum of industries.
The Bank said Mr Manatunge’s appointment is a significant recognition of his leadership and contribution to Sri Lanka’s business sector, and reflects his engagement with national economic and business development initiatives.
Mr Manatunge’s appointment was made at the 97th Annual General Meeting of the EFC, at which the organisation constituted its Board of Trustees and Council Members for the financial year 2026/27. He succeeds Mr Dinesh Weerakkody, and will serve alongside Vice Chairman Mr Dinal Peiris, Chairman and Managing Director of the Lanka Aluminium Industries PLC Group.
A respected leader in Sri Lanka’s financial services sector, Mr Manatunge brings to this prestigious role more than 36 years of experience in banking and finance. In his inaugural address as Chairman, he underscored the continued relevance of the EFC as the National Employers’ Organisation, affirming its commitment to contributing to labour law reforms that support future-ready businesses while continuing to promote responsible business practices. He also emphasised the importance of constructive engagement with tripartite stakeholders to advance shared national objectives and strengthen the country’s employment landscape.
Mr Manatunge’s appointment reflects his standing in the broader business community, supported by an extensive portfolio of leadership and advisory roles. He serves as the Chairperson of the Sri Lanka Banks’ Association (SLBA), and also represents key industry interests as a Member of the UNICEF Business Council, the Ceylon Chamber of Commerce and the World Bank Group’s Private Sector Advisory Council. His regulatory and advisory contributions include serving as an Ex-Officio Member of the Stakeholder Engagement Committee of the Central Bank of Sri Lanka.
Mr Manatunge is also the Deputy Chairman of Commercial Development Company PLC and Commercial Bank of Maldives (Pvt) Ltd. He has been with Commercial Bank for over three decades and was appointed Managing Director/CEO in May 2022 after serving as Chief Operating Officer and Executive Director. Over the course of his career at the Bank, he has held several senior leadership positions, including Deputy General Manager – Corporate Banking, where he led significant growth in the Bank’s corporate loan book and trade finance business while maintaining asset quality. As Chief Operating Officer, he oversaw strategically critical business verticals such as Personal Banking, Corporate Banking, Information Technology, Cards and Digital Banking, guiding them to leadership positions in their respective segments.
A Fellow of the Chartered Institute of Management Accountants (UK), Mr Manatunge holds a Master of Business Administration degree from the University of Sri Jayewardenepura and is also a Fellow of the Institute of Bankers of Sri Lanka, the Institute of Certified Management Accountants of Sri Lanka and the Chartered Management Institute (UK). He is a member of the Sri Lanka Institute of Directors and has contributed to the development of the banking profession through roles including President of the Association of Banking Sector Risk Professionals and as a Council Member of the Association of Professional Bankers. He has also served as a visiting lecturer and as a resource person for leading academic and professional institutions.
