The Bank of Ceylon is fine-tuning its loan book to boost private sector lending and limit its exposure to state owned entities.
Loan growth for the first six months dipped marginally by 0.6 percent to Rs. 134.49 mn.
Officials say the appetite for credit has been below political expectations, but within banking norms, considering the overall macro economic situation, an appreciating rupee and the banks focus on going for quality lending.rn
rnldblquote Most of this is not really new loans, but we are winning business from competitors. We are competitive with nearly 80 percent of our loans priced below 20 percent,
dblquote says the banks General Manager, S N P Palihena in an interview with Lanka Business Online.rn
rnLast year, the banks assets shrank to Rs. 227.87 bn, as it cut lending to the state sector and retired costly short-term borrowings that financed them.rn
rnBy June, asset growth picked up to Rs. 233.89 bn, but its loan book remained almost static, as the bank continued to shed govern