May 3, 2012 (LBO) – Sri Lanka’s state-owned Bank of Ceylon is to increase its network of overseas branches following a sharp increase in profits of two existing units in neighbouring south India and the
Maldives. The bank, the island’s biggest lender, is to open two new branches in the south Indian cities of Tuticorin and Coimbatore this year.
It will also open a new branch in Addu Attol in southern Maldives, according to the bank’s annual report for 2011.
Apart from its existing branches in MalÃ© and Chennai, Bank of Ceylon has a fully-owned foreign subsidiary in London.
The bank said it plans to establish extension offices attached to overseas branches and provide automated teller machines and internet banking to customers of overseas units.
It will also open an extension office at the Mahabodhi temple complex in Bihar in India.