DFCC Bank says it conforms to CBSL directive

Tuesday, 31 December 2019 02:36 - - {{hitsCtrl.values.hits}}

DFCC Bank yesterday clarified that it has complied with the Central Bank (CBSL) directive on lending rates as of 27 December.

Commenting on this, DFCC Bank CEO Lakshman Silva said: “In keeping with the good governance we practice, DFCC Bank has honoured the directive given by CBSL and is compliant with the reduction of the weekly average weighted prime lending rate (AWPR) by 150 basis points (bps) by 1 November and 250 basis points by 27 December compared to the AWPR as at 26 April.”

Silva reiterated that as at 27 December, 2019 DFCC is fully compliant with this regulatory requirement.

DFCC Bank was among seven banks the Central Bank listed on Friday as those who have not complied and yesterday’s clarification was to set the record straight.

Silva said DFCC Bank has set for itself a goal of becoming the bank that offers the best customer experience in banking by adhering to a customer centric approach while embracing the digitally enabled culture to offer discerning customers unparalleled financial solutions.

Throughout 2019, DFCC Bank is on an expansion drive touching the hearts and lives of the Sri Lankan population with a promise of being ‘The Bank for Everyone’. During this month it expanded its branch network by opening 20 full service branches in 30 days at varied locations.

DFCC Bank PLC is a fully-fledged commercial bank offering the full range of commercial and development banking services. The bank was also ranked amongst Business Today’s Top 30 businesses in Sri Lanka and was placed in the 25th position in Brand Finance Top 100 Most Valuable Brands, 2019. DFCC Bank is rated AA- (lka) by Fitch Ratings Lanka Ltd.