BOC Business Revival Unit expands operations to all provinces

Wednesday, 6 April 2022 01:15 - - {{hitsCtrl.values.hits}}

Encouraged by the growing demand, the Bank of Ceylon’s Business Revival and Rehabilitation (BRR) department expanded its operations to all provinces in the country furthering its assistance to local business organisations to come back to life after the pandemic hit.

Opening ceremonies of regional BRR Units took place recently in respective province offices situated in Nugegoda, Anuradhapura, Kandy, Polonnaruwa, and Trincomalee with the patronage of the Bank’s Additional General Manager Russel Fonseka, the Bank’s DGM Recovery Provinces and Business Revival and Rehabilitation Unit (BRRU) M.R.N. Rohana Kumara and fellow members of Corporate Management. AGM B.R.R. Unit N. Krishnakumar, respective Provincial Assistant General Managers, and other officials also participated in these occasions.

With the guidance of the Bank’s Chairman Kanchana Ratwatte, the Board of Directors, and the General Manager K.E.D. Sumanasiri, Deputy General Manager Recovery Provinces and B.R.R. Unit M.R.N. Rohana Kumara mapped the novel concept of “Business Revival” to uplift SME/Corporate customers who had defaulted on facilities due to genuine operational issues.

Followed by some very successful pilot projects the specialised unit “Business Revival and Rehabilitation Unit” was established in the latter part of the year 2020.

The new establishment has come a long way since then, facilitating and re-establishing the “entrepreneurial strength” in the country and it has now expanded to over 14 regional units across the country.

In the face of the COVID Pandemic mercilessly inhibiting the economies around the world, Many Sri Lankan businesses too were devastated with operations haltered, supply chain and distribution channels crippled, and customer demand turned down. The effect went trickling down to a loss of employment and a decent income for many households.

Driven by the responsibility toward the Sri Lankan community, the Bank of Ceylon (BOC) improvised its existing strategies to be more adoptive of the new situation.

BOC’s objective was to infuse synergy into these businesses to revive and sustain its operations and profitability in the long run even under challenging situations. The Bank promises to strive towards the betterment of the country in the truest sense of being a “Banker to the Nation”.