The Bank of Ceylon, a state-owned commercial bank in Sri Lanka, will soon open 31 branches focused on small and medium-sized enterprises (SMEs). The bank will also open nine ATMs in the North, seven ATMs in the East and 11 mobile units. Additionally, there are plans to eventually open 10 more branches in each of the nine provinces of Sri Lanka. Some of the bank’s offerings include small farmer credit, livestock credit linked to insurance, microenterprise credit, inland marine fisheries credit and remittances. According to the bank’s website, as of March 28, 2010, the bank has over 300 branches. As of September 30, 2009, the bank had gross loans and advances worth LKR 284 billion, the equivalent of over USD 2.49 billion, and total assets worth LKR 534 billion, the equivalent of over USD 4.68 billion.
By Christopher Maggio, Research Assistant
Additional Resources
Sunday Times of Sri Lanka article entitled ‘Bank of Ceylon to open 31 more branches in the North and East’: http://www.sundaytimes.lk/100328/BusinessTimes/bt33.html
Bank of Ceylon: http://www.boc.lk/bochome/index.jsp
Bank of Cheylon Financial Report as of September 30, 2009: http://www.boc.lk/bochome/aboutus/publication%20Sep30%202009.pdf
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