Northern Reach

May 25, 2010 (LBO) – Six new bank branches are to be opened next month in Sri Lanka’s northern province which is recovering from the effects of war, the Central Bank said. “Six new bank branches will be opened in the Northern Province on June 07 to facilitate economic activities in the area,” it said in a statement.

State-owned People’s Bank is to open three new branches in the towns of Kilinochchi, Mankulam and Paranthan in the northern province which were scenes of heavy fighting during the war.

The private Commercial Bank of Ceylon and Seylan Bank PLC are to open one branch each in Kilinochchi.

The listed Nations Trust Bank will open a branch in the northern Jaffna peninsula.

“Necessary approvals of the Central Bank have also been granted for further new bank branches in the Northern and Eastern Provinces in the next few months,” the statement said.

The 30-year ethnic war ended last May, resulting in an economic revival in rht north-east as well as the rest of the country.