Exective Summary

261 WordsMar 26, 20152 Pages
This report discusses about the sudden crisis which took place in the Seylan Bank in 2008. The Seylan Bank which was the fifth largest bank then has achieved its success over a period of 20 years then. The bank which was incorporated in 1987 had the vision of building up a banking network to serve the customers who reside in overseas as well as in Sri Lanka. With the progress of the banking network which Seylan bank provided in 1991, they took over the Matara branch of the Indian overseas bank, followed up by takeover of the management of two branches of the British based bank of Credit and Commercial at the request of the Central bank of Sri Lanka. The success which Seylan bank achieved can be seen through the rapid growth of the branch network and the establishment of the subsidiaries. The first two subsidiaries of the Seylan bank – Seylan Merchant Bank Limited and Ceylinco Seylan developments Limited – were established in 1992 – just after 5 years from the inception of the bank. The organization achieved immense success trough the leadership strategies adopted by the management .By the year 1999, the organization has built up a branch network of around 116 branches inclusive of around 95 ATMs islandwide. After 12 years from the inception of the bank, it had succeeded in incorporating a chain of subsidiaries – SMB Money Brokers (Private) Limited, Ceylinco Express (Private) Limited, SMB Real estate Limited, Seylan Merchant Leasing Ltd and Seylan Bank Asset Management Limited – post the establishment of the two initial subsidiaries in

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