Veteran banker Lasantha Fernando assumes duties as RDB Bank Chairman

Lasantha Fernando

Regional Development Bank (RDB), the State-owned premier development bank in the country, announced the appointment of Lasantha Fernando as its 9th Chairman on 1 November 2024.

With over 35 years of industry experience spanning corporate banking, retail and branch banking, development banking, credit administration and recoveries, Fernando is set to lead RDB in its mission to support sustainable rural and semi urban economic growth. 

“I accepted the position of Chairman at RDB Bank without hesitation, as it fulfills a longstanding aspiration to serve those at the grassroots level in our society. RDB Bank, with its strong and dedicated workforce and extensive branch network, is ideally positioned to make a meaningful impact. Our goal will be to uplift the livelihoods of enterprising individuals, create new opportunities, and generate employment—ultimately contributing to the growth of our domestic economy. Together, we will work towards empowering communities and building a brighter future for all,” the newly-appointed RDB Bank Chairman Fernando said.

Fernando served as Deputy General Manager of Development Banking at Hatton National Bank PLC (HNB), one of Sri Lanka’s largest commercial banks. In this role, he oversaw SME, microfinance, rural, and agricultural financing, developing strategies to bolster the rural economy. He also helped establish market linkages for micro-entrepreneurs, enabling their growth toward SME and even corporate-level operations.  As HNB Deputy General Manager – Recoveries Fernando adopted a hands-on leadership approach, working closely with regional managers, field, and branch staff to guide and motivate them toward achieving financial targets.  Fernando’s international experience includes a secondment to Lakshmi Bank in Kathmandu, Nepal, where he served as Deputy General Manager. Additionally, he has served on the boards of HNB subsidiary, Sithma Development Ltd. and Associate, Splender Media Ltd., and as an Independent Director at Richard Pieris Finance Ltd., where he chaired both the Board Audit Committee and the Board Integrated Risk Committee.

Since his retirement, Fernando has taken on advisory roles with the Asian Development Bank (ADB), Vision Fund Lanka, and Sejaya Micro Credit Ltd., focusing on SME and microfinance.

He holds a Diploma in Bank Management, is a Fellow of the Institute of Bankers (FIB) and a Master of Business Administration (MBA) University of Colombo. A distinguished old boy of both St. Thomas College, Mount Lavinia, and Royal College, Colombo, he brings a rich background of expertise and commitment to his new role.

The RDB said it looks forward to Fernando’s stewardship in moving the bank towards growth with renewed strength.