Hirunews Logo
Sri+Lanka+bank%2C+non-bank+lender+merger+path+outlined
Sunday, 19 January 2014 - 8:22
Sri Lanka bank, non-bank lender merger path outlined
25

Shares
3,042

Views
A plan released by the banking regulator says that, Sri Lanka's banks and well managed larger non-bank lenders will be encouraged to swallow up to three second tier firms with tax breaks and cheaper financing.

A presentation by Sri Lanka's Central Bank Governor Nivard Cabraal made to the financial industry has asked identified 19 non-bank lenders called finance companies as 'category A' which are compliant with regulations and has capital of more than a billion rupees and assets of over 8 billion rupees.

But 38 others identified as category 'B' fell short of the requirements.
Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE