High non-performing loans of Bank of Ceylon
quote s and Peoples Bank were highlighted as the cause for the high intervention cost in the local financial sector, at the Financial Reforms forum that ended today.
rnrnldblquote Banking supervision could have been more forceful on state banks to control their lending to dubious projects
dblquote , Paskeralingum said.
rnrnOut of the two state banks, People
quote s Bank currently has a negative net worth following the Rs. 1 bn loan write offs made in 1999.rn