Ugly Politics

The latest trade union action raised serious concerns among banking sector analysts
quote who were critical about the lack pf professional independence for top management at state banks.

Prime Minister Ranil Wickramasinghe and Secretary Treasury Charitha Ratwatte are expected to meet JSS officials today to diffuse the situation.

rnrnJSS officials were not available for comment at the time of writing.rn

rnThe restructuring team was formed in early 2001 with the managers hired from leading private sector financial institutes to turnaround the Rs. 166 bn ailing state giant to profitability.rn

rnThe managers brought with them leading edge competencies in modern financial risk management, corporate planning, treasury management and marketing.rn

rnThe private sector talent infusion saw Peoples
quote Bank introducing interest rate hedging derivatives, loan sales and securatisations for the first time in bank
quote s history.rn

rnThe previous government, which came under heavy pressure from donor age