Bank of Ceylon Appoints Y.A. Jayathilaka as Acting General Manager and CEO Following Russel Fonseka's Departure

Bank of Ceylon has appointed Y.A. Jayathilaka as Acting General Manager and Chief Executive Officer, effective 6 August 2025, after Russel Fonseka concluded his contracted service period on 5 August. The transition places Jayathilaka at the head of Sri Lanka's largest state-owned commercial bank.

Russel Fonseka, who became General Manager/CEO in January 2023, led Bank of Ceylon through the aftermath of Sri Lanka's 2022 sovereign debt default and the ensuing restructuring of the country's public finances.

ABOUT BANK OF CEYLON

Bank of Ceylon is the largest commercial bank in Sri Lanka by assets. As a state-owned institution, it carries both commercial banking responsibilities and a developmental mandate.

ABOUT JAYATHILAKA

Jayathilaka, a banker with more than 28 years' experience, was previously Deputy General Manager – Product and Banking Development, and has held senior roles in support services, recovery, development banking and product development.