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» විජේදාස ඇමති පදවියෙන් නෙරපයි
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» 10% ක බෝනස් ඩේටා දෙන්න දුරකතන සමාගම් එකඟවෙයි
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» පාකිස්තාන සංචාරය: "මම නම් යන්නේ නෑ"
Yesterday at 12:05 pm by Ethical Trader

» "මිනී මස් කාල එපා වෙලා"
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» විජයදාස ඉවත් කරන්න: එජාපය ජනපතිට කියයි
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» ආදායම ලක්ෂ 12 ට අඩුනම් ආදායම් බදු නැහැ – මුදල් ඇමති කියයි
Tue Aug 22, 2017 12:30 pm by nihal123

» වැසිකිළියක් සදා නොදුන් සැමියාගෙන් දික්කසාද වීමට අධිකරණය අවසර දෙයි
Mon Aug 21, 2017 5:31 pm by Ethical Trader

» 2017 ජන්ද හිමි නාමලේඛනයේ කෙටුම්පත පිටවෙයි
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» වාහන බදු අඩු කළායින් පසු සමාගම් කොටස් මිල ඉහළ ගිය හැටි
Mon Aug 21, 2017 11:50 am by Ethical Trader

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» CB Chief cracks whip!
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» ක්‍රිකට්: ශ්‍රී ලංකා කණ්ඩායමට එරෙහිව ක්‍රීඩාලෝලීන්ගේ විරෝධතාවක්
Mon Aug 21, 2017 10:55 am by Ethical Trader

» "විගණන පනත යට ගහන බවට ඇමතිවරුන්ට චෝදනා"
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Sun Aug 20, 2017 10:30 am by Ethical Trader

» Sri Lanka introduces concessions to boost faltering growth
Sat Aug 19, 2017 7:05 pm by Backstage

» New taxes hamper life insurance industry
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Sat Aug 19, 2017 11:28 am by Ethical Trader

» EPF/ETF සහ විදේශ ශ්‍රමිකයෝ: නව බදු පනත ගැන මේ කරුණු දන්නවාද?
Fri Aug 18, 2017 6:03 pm by Rana

» ගෙවල්..වාහන..විදුලිය..සියල්ලටම දැන් ණය වර්ග අටක්..
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» විදුලි සංදේශ බද්ද ඉවතට - යතුරුපැදි බදු අඩුවෙයි
Thu Aug 17, 2017 8:09 pm by nihal123

» දෙවන කාර්තුවේ ඉහළ වර්ධනය සමඟින් කොමර්ෂල් බැංකුව තවත් ශක්තිමත් වෙයි
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» අද වෙන්දේසියේ දී බිල්පත් පොළී නගී
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» ලක්‍ෂ්මන් සිල්වා DFCC බැංකුවේ ප‍්‍රධාන විධායක නිලධාරි තනතුරට
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» HOPL.N0000 ( Horana Plantations PLC)
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» පෑන් ඒෂියා බැංකුවේ ප්‍රාථමික අලෙවි කටයුතු මාස 06 කට අත්හිටුවයි
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» LIOC.N0000 (Lanka IOC PLC)
Mon Aug 14, 2017 2:37 pm by The Invisible

» Plantation sector updates
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» අධිකරණ ඇමතිට ආණ්ඩු පක්ෂයෙන්ම විශ්වාස භංගයක්?
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» සොහොන් කොතේ නම 'අකැප' ඇෆ්ගන් කතුන්
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Sat Aug 12, 2017 2:42 pm by Ethical Trader

» TJL.N0000 (Textured Jersey Lanka PLC.)
Sat Aug 12, 2017 2:10 pm by Ethical Trader

» කොරියාවේ උණුසුමට සංගීතයේ සිසිලස
Sat Aug 12, 2017 9:10 am by Ethical Trader

» මැක්‍රෝන් සිය බිරිඳට 'ජනාධිපති ආර්යා' නිල තත්වය නොදෙන ළකුණු
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» Video of the day...
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» Cartoon of the day...
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» LWL.N0000 (Lanka Walltiles PLC)
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» RICH N.0000 Richard Pieris and company PLC
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» විසිපන්දහසේ දඩය අනුමතයි - දඩ මුදල වැඩි කෙරුණු රථවාහන වැරදි මෙන්න
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» ජනපති අගමැති ඇතුළු "සම්මුති ආණ්ඩුව වෙනුවෙන්" රවී ඇමති පුටුව අතහරි...
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» KFP.N0000(Keels Food Products PLC)
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» රවී කරුණානායක ඉල්ලා අස්වෙයි
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» REXP.N0000 ( RICHARD PIERIS EXPORTS PLC)
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Sri Lanka’s Commercial Banks to increase their capital

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Sri Lanka’s Commercial Banks to increase their capital

Post by Rana on Fri Aug 12, 2016 11:15 am

http://www.srilankamirror.com/news/item/12061-sri-lanka-s-commercial-banks-to-increase-their-capital

Sri Lanka’s Commercial Banks have been directed to raise their capital to manage financial crises and provide a buffer against financial problems while diversifying its lending portfolios.

The Central Bank, the country’s financial regulator will issue a directive to commercial banks soon to increase its capital by Rs.20 billion by December 31 2017 from Rs.10 billion at present.

This decision was taken at the recent meeting chaired by Prime Minister Ranil Wickremasinghe, to ensure the overall goal of financial system stability while maintaining bigger banks instead of many smaller banks.

Sufficient capital and other buffers will be put in place to make the Sri Lankan financial sector to resist adverse business cycles and liquidity constraints, without sacrificing investment potential during periods of global economic downturn,

Sri Lanka has 32 banks registered with the Central Bank and the aim of the government is to ensure the overall goal of financial system stability while maintaining fewer bigger banks instead of many smaller banks, official sources said.

The government will encourage the voluntary mergers of banks that will result in stronger balance sheets.

However State coffers will have to inject billions of rupees to state-owned banks to meet the increased capital requirements..

But it will not be an easy task due to current financial constraints of the Treasury; a top bank official said adding that the need for additional capital will exert pressure on private sector commercial banks as raising equity by those banks will be more challenging for them than for state banks.

The Commercial Banks have also been asked to diversify its lending port folios as most of them have confined themselves to collateral based lending and have shown a marked reluctance to engage in ‘business model’ based lending, official sources said.

According to a decision taken by the government , the banks’ lending port folios are to be controlled by the Central Bank.

Accordingly, all the banks should lend at least 15 percent each of their loan portfolio to Agriculture and Government institutions, 10 percent each to SME and Tourism, 8 percent to Women, 5 percent to Youth, and 3 per cent to export oriented projects.

The total lending portfolio has been fixed at Rs. 30 million for a specific client.

All commercial banks have agreed to work together and join the National Payment Platform (NPP) soon to handle online payments as part of government efforts to encourage digital transactions. The NPP is being developed by the Communication Technology Agency (ICTA).

(lankainformation.lk)

Rana
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