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Developing Strategic Management and Leadership Skills

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Introduction
Seylan Bank PLC, founded in 1987 and opened for business a year later; being one of the most admired banks in Sri Lanka and a leading innovator of banking services in the country, the fifth largest Bank in Sri Lanka and part of the mighty Ceylinco Group. The goal of the founding chairman, Dr. Lalith Kotelawela was to offer customers a more welcoming, customer friendly and service-oriented alternative to the traditional banking environment that was generally perceived to be formal, regimented and austere.
The Bank quickly differentiated itself from other institutions in the market with a range of innovative services and attractive products including extended weekday banking hours as well as Saturday service, several bonus interest options and Cash-card access to non-resident foreign currency accounts that were often used by Sri Lankan expatriates to transfer funds to their dependents. Customers who had always been waiting for better interest returns for their deposits and with their trust to the public image of Dr. Kotelawela wasted no time and became customers of this newly established financial institution. Seylan soon became a well known brand in the industry with rapid growth and paying the highest interest returns to depositors.
As per the company’s ‘The Case Study’ (2009) report, in its first partial year of operations, Seylan reported an after tax profit of Rs. 11.3 Million ending at 31st December 1988. Over the next 17 years, the Bank grew at an unprecedented pace, with assets totaling Rs. 113.6 Billion by the end of 2005. Profits in the same period fluctuated to some degree but followed the same overall rapid trajectory, reaching Rs. 687 Million (after taxes) in the 2005 financial year.
Signs of mismanagement: Sri Lanka’s banking industry was already competitive when Seylan bank came to being. The then management was over-ambitious and had a

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