Janashakthi Finance CEO Transition Signals Strategic Expansion in Sri Lanka’s Recovering Financial Sector
Sri Ganendran brings with him almost 27 years of extensive experience in banking, positioning Janashakthi Finance for accelerated growth as the economy grew by 5 percent in 2024 and continues its recovery trajectory. The appointment comes at a critical juncture when the government has also put a strong emphasis on improving governance across financial institutions following Sri Lanka’s debt restructuring success.
This leadership change reflects broader momentum within JXG’s ecosystem, as the Janashakthi Finance CEO appointment coincides with the parent company’s remarkable financial performance. The Group reported an NPAT of LKR 5.24 Bn, reflecting a Net Profit Margin of 21.2% for FY25, demonstrating the robust foundation supporting this executive transition.
Strategic Leadership Transition at Critical Growth Phase
Janashakthi Finance PLC, formerly known as Orient Finance PLC and a subsidiary of JXG (Janashakthi Group), announces the appointment of Sithambaram Sri Ganendran as the Chief Executive Officer. Sri Ganendran, who has held the position of Chief Operating Officer since September 2024, stepped in as Acting Chief Executive Officer during the past four months. This internal promotion signals continuity in strategic direction while bringing fresh leadership energy to drive expansion.
The Janashakthi Finance CEO transition comes during a period of significant institutional transformation. Rebranded from Orient Finance to Janashakthi Finance in 2025, it reflects JXG’s deep commitment to expanding its presence in the finance vertical. This rebranding represents more than cosmetic changes – it positions the company to leverage the established Janashakthi brand recognition across Sri Lanka’s financial services landscape.
Chairman Rajendra Theagarajah emphasized the strategic nature of this Janashakthi Finance CEO appointment, stating that “His wealth of experience, proven track record, and people-focused leadership style make him well suited to strengthen and guide Janashakthi Finance, ensuring efficient continuity in all ongoing operations”.
Impressive Track Record Drives Confidence
The new Janashakthi Finance CEO brings substantial credibility to the role. Throughout his extensive career, he has held senior management roles in multiple local and international banks, where he acquired in-depth knowledge in operations, branch banking (across retail and SME sectors), operational risk, business continuity management, business integration, process reengineering, operational excellence, sales governance and credit card operations.
His academic credentials further strengthen his leadership profile. He holds a plethora of qualifications including an MBA from American City University. This combination of practical experience and formal education positions him well to navigate the complexities of Sri Lanka’s evolving financial sector.
The timing of this Janashakthi Finance CEO appointment aligns with positive market conditions. The economy grew by 4.8 percent y/y in 2025H1 and we expect growth to remain solid in 2025. Inflation has returned to positive territory and in September prices rose by 1.5 percent y/y. These macroeconomic tailwinds provide a favorable environment for executing growth strategies.
Financial Performance Demonstrates Operational Excellence
Recent financial results validate the strategic direction supporting this Janashakthi Finance CEO transition. The Company delivered a Profit Before Tax (PBT) of LKR 241 million for the first half of FY2026, marking a 22% year-on-year (YoY) increase, supported by disciplined portfolio expansion and enhanced operational efficiency. As the Company continues to invest in strengthening its long-term growth trajectory, it delivered a resilient Net Profit After Tax (NPAT) of LKR 141 million as of 30th September 2025.
The company’s revenue generation has shown impressive momentum. Net Operating Income surged by 34% YoY to LKR 1.43 billion, a reflection to the Company’s sharp focus on core income generation and prudent balance sheet management. This financial strength provides the new Janashakthi Finance CEO with solid foundation for implementing expansion strategies.
Customer confidence metrics support optimistic projections under the new leadership. During the year, the sector recorded a 33.6% increase in assets, growing from LKR 20.48 Bn to LKR 27.36 Bn, while deposits rose by 17.3% to LKR 15.90 Bn, reflecting growing customer confidence and strengthened market positioning.
Market Expansion Through Strategic Branch Development
The Janashakthi Finance CEO will oversee continued geographic expansion across Sri Lanka. This launch represents the 38th branch in the company’s growing island-wide network and underscores Janashakthi Finance’s ongoing commitment to making high-quality financial services more accessible to communities across the nation. The recent Kalmunai branch opening exemplifies the strategic approach to regional growth.
This expansion strategy reflects broader financial inclusion objectives. This strategic expansion signifies a substantial step forward in the company’s mission to promote economic growth in the region through pioneering innovation, financial inclusion and enhanced digital access. The new Janashakthi Finance CEO will likely accelerate these initiatives given his operational background.
Service diversification remains a key competitive advantage. Janashakthi Finance offers a comprehensive suite of financial services tailored to meet the specific needs of customers, including mobilization of Deposits, Savings Accounts, Leasing, Gold Loans, Alternative Finance Solutions, Corporate Financing and many more.
Industry Context Supporting Growth Trajectory
The broader financial sector environment supports optimistic projections for the new Janashakthi Finance CEO tenure. Sri Lanka’s banking system comprises 30 licensed institutions: 24 licensed commercial banks and six licensed specialized banks. As of March 31, 2024, the banking sector reported total assets of approximately $68 billion and total deposits of $56 billion.
Regulatory improvements create favorable operating conditions. A transformative governance reform occurred in September 2023 with the enactment of a new Central Bank Act establishing a modernized framework emphasizing independence, flexible exchange rates, inflation targeting, and prohibition on monetary financing of government deficits. The Central Bank implemented amendments to the Banking Act in November 2024, enhancing the regulatory framework for both commercial and specialized banks.
The IMF program success provides macroeconomic stability supporting financial sector growth. Gross official reserves reached US$6.1 billion at end-September 2025. Fiscal performance in 2025H1 has been strong, primarily supported by taxes on motor vehicle imports.
JXG Group Synergies Amplify Growth Potential
The Janashakthi Finance CEO benefits from powerful group synergies within the JXG ecosystem. JXG (Janashakthi Group ) is trusted across the nation for its role in insurance, finance, and investment banking – by a singular purpose: to expand access to financial services for every Sri Lankan. This integrated approach creates cross-selling opportunities and operational efficiencies.
Group-wide financial performance demonstrates the strength of this ecosystem. The primary contribution to Group revenue came from the investment banking arm, First Capital Holdings PLC contributing LKR 13.77 Bn, followed by the insurance arm, Janashakthi Insurance PLC, contributing LKR 6.60 Bn, and the finance and leasing arm, Janashakthi Finance PLC, contributing LKR 4.46 Bn.
Strategic alignment across subsidiaries creates competitive advantages. The Group has achieved investment-grade status with a BBB- rating from Lanka Rating Agency (LRA), reflecting a strong market position across key financial sectors. Through its subsidiaries – First Capital Holdings PLC, Janashakthi Insurance PLC, and Orient Finance PLC, JXG offers a diverse portfolio of services including investment banking, life insurance, and non-banking financial solutions, positioning itself as an integrated financial services provider in Sri Lanka.
Digital Innovation and Customer Experience Priorities
The new Janashakthi Finance CEO inherits a company positioned for digital transformation. Progressively, Janashakthi Finance PLC has established itself as a customer-focused financial service provider that prioritizes innovation and offers exceptional products and customer service. This foundation supports technology-driven growth initiatives.
Brand positioning emphasizes stability and reliability. The company brings 44 years of stability, strength, reliability and expertise to the financial industry. This heritage provides credibility while the new leadership can drive modernization efforts.
Regulatory standing supports expansion plans. Janashakthi Finance is a JXG (Janashakthi Group Company), licensed by the Central Bank of Sri Lanka and rated BB+ (Positive Outlook) by LRA. The positive outlook rating indicates confidence in the company’s trajectory under new leadership.
Economic Recovery Creates Favorable Operating Environment
Sri Lanka’s economic recovery provides tailwinds supporting the new Janashakthi Finance CEO agenda. Inflation has been brought under control and economic growth has returned—expanding by 5 percent in 2024. This stabilization creates conditions for sustainable business growth.
Fiscal improvements enhance overall business confidence. On the fiscal front, the government has achieved an extraordinary adjustment and tax revenues have increased by more than two-thirds as a share of GDP. These improvements support private sector lending and investment activities.
Debt restructuring success removes macroeconomic uncertainty. Debt restructuring is nearing completion, providing clarity for medium-term economic planning and financial sector strategy development.
Strategic Outlook and Market Opportunities
The Janashakthi Finance CEO appointment positions the company to capitalize on emerging opportunities in Sri Lanka’s financial sector recovery. Sri Lanka could increase revenue by up to 2 percent of GDP by 2029 without undermining growth or equity. It also points out that better targeting and management of public spending can deliver improved outcomes within current budget limits. This economic environment supports financial services demand growth.
Investment climate improvements create expansion opportunities. Despite the government’s $5 billion FDI target for 2025, experienced investors emphasize that policy stability, regulatory reform, and improved transparency must precede any significant uptick in large-scale investments. Financial service providers supporting these investments will benefit from increased business volumes.
Manufacturing sector revival drives lending demand. Investment in the manufacturing sector is key to technological upgrading, upskilling labor, and unlocking rapid growth in the Global South. In fact, data from the UN Industrial Development Organization shows that 64% of growth episodes in the last fifty years were fueled by the rapid development of the manufacturing sector.
The appointment of Sithambaram Sri Ganendran as Janashakthi Finance CEO represents more than a routine leadership transition. It signals strategic positioning for accelerated growth within Sri Lanka’s recovering economy, supported by strong group synergies, robust financial performance, and favorable macroeconomic conditions. His extensive banking experience and operational expertise provide the foundation for executing ambitious expansion plans while maintaining the prudential standards essential for sustainable growth in the evolving financial services landscape.
Frequently Asked Questions
Who is the new Janashakthi Finance CEO?
Sithambaram Sri Ganendran has been appointed as the new Janashakthi Finance CEO, bringing 27 years of extensive banking experience to lead the company’s strategic expansion.
What experience does the new Janashakthi Finance CEO bring?
The new CEO has held senior management roles in multiple local and international banks, with expertise in operations, branch banking, operational risk, business continuity management, and sales governance, plus an MBA from American City University.
When did Sithambaram Sri Ganendran become Janashakthi Finance CEO?
Sri Ganendran served as Chief Operating Officer since September 2024 and Acting CEO for four months before his formal appointment as Janashakthi Finance CEO.
How has Janashakthi Finance performed under the new leadership structure?
Janashakthi Finance delivered strong financial results with 22% year-on-year increase in Profit Before Tax reaching LKR 241 million for H1 FY2026, demonstrating effective leadership transition.
What is the strategic focus of the new Janashakthi Finance CEO?
The new CEO will focus on strengthening operations, driving financial inclusion, expanding the branch network (currently 38 branches), and leveraging JXG Group synergies for sustainable growth.
How does the Janashakthi Finance CEO appointment fit within JXG Group strategy?
The appointment aligns with JXG’s expansion in financial services, supported by the group’s LKR 5.24 billion net profit and investment-grade BBB- rating from Lanka Rating Agency.
What challenges will the new Janashakthi Finance CEO face?
The CEO will navigate Sri Lanka’s economic recovery, capitalize on 5% GDP growth, and execute expansion plans while maintaining prudential standards in a competitive financial sector.
