Seylan Bank to explain ‘operations’ to media

 Seylan Bank has called a press conference for tomorrow (Thursday morning) to brief the media on recent developments relating to the management takeover and other issues, a spokesperson for its PR firm said.

She said the Bank planned to explain the involvement between Seylan, the Central Bank and the Bank of Ceylon (BoC), the new board of directors and the level of deposits and withdrawals, among other matters. The Central Bank last week handed over management to the BoC which in turn has appointed a new board of directors chaired by E. Narangoda – well known banker. The other directors are Nihal Jayamanne- PC, Lalith Withana –Chartered Accountant, Naomal Gunawardena – Chartered Accountant/Attorney-at-Law, R Nadarajah – senior banker and Rear Admiral Ananda Peiris.