Wednesday, December 29, 2010

Sri Lanka Merchant Bank suspends chief executive

Dec 28, 2010 (LBO) - The Merchant Bank of Sri Lanka (MBSL) has suspended its chief executive officer for alleged misconduct, the bank said in a stock exchange filing.


MBSL's board of directors had decided to suspend the services of its chief executive A P G Karunathilake with effect from December 21, 2010, it said.

The suspension was "pending an inquiry into certain acts of alleged misconduct," the statement said without elaborating.

MBSL shares were trading at 47.40 rupees each, up 1.10, in mid-morning trade.

source - www.lbo.lk

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