Nations Trust Bank joins guarantee scheme for pawning advances with CBSL

Thursday, 18 September 2014 00:00 - - {{hitsCtrl.values.hits}}

Nations Trust Bank announced its participation in the guarantee scheme initiated by the Central Bank of Sri Lanka (CBSL) for pawning advances. The collaboration was formalised in an agreement recently signed between the two institutions at the Regional Development Department of the Central Bank of Sri Lanka.

At the signing of the agreement were Acting Director A.M.R.K. Attanayake, Senior Assistant Director D.M.K.B. Dunuthilake and Assistant Director B.M.J. Wijesundara of the Central Bank of Sri Lanka while Deputy General Manager Keshini Jayawardena, Head of Branches Sanjaya Perera and Manager Pawning Upul Ranjan represented Nations Trust Bank The guarantee scheme covering pawning advances would enable the bank to continue its financial assistance to the business community specifically focussing on micro, small and medium scale entrepreneurs, who will receive financial assistance at concessionary rates of interest to carry on their businesses and other economic activities. The scheme will facilitate the granting of an additional 15% loan quantum over and above the usual advances made on gold pawning by the bank at present. Accordingly, the special guarantee scheme allows the bank to grant up to Rs. 500,000 at a 15% annual interest rate for pawning advances. This scheme will particularly support those who are involved in agriculture and small-scale commercial ventures. Nations Trust Bank PLC is one of the fastest growing banks in Sri Lanka today, operating 81 branches and an ATM network covering 115 locations and is the issuer and sole acquirer for American Express Cards in Sri Lanka.