A consortium of state institutions led by the Bank of Ceylon (BoC) has expressed interest in taking over undercapitalised Peoples Bank.
The National Savings Bank (NSB) and the Employees Trust Fund (ETF) together with BoC have expressed interest in Peoples Bank according to highly placed sources.rn
rnConglomerate John Keells Holdings is also said to be eyeing the banking giant in immediate need of around Rs. 9 bn in fresh capital.rn
rnSources say an international insurance group with a presence in the island is also eyeing the bank with a non-performing loan book of over Rs.23 bn. rn
rnThe proposal by the state sector consortium to take over the Peoples Bank management with an equity stake is before the Treasury.rn
rnWhile bank officials are tight lipped about the list of parties interested in taking it over, they do admit that there is a lot of local interest primarily from the state sector.rn
rnldblquote There are government institutions that are interested,
dblquote says Derek Kelly, Dire