BOC has lent Rs. 140 b for post-war livelihood in north and east

Wednesday, 2 January 2013 01:27 - - {{hitsCtrl.values.hits}}

The Bank of Ceylon has lent a staggering Rs. 140 billion since the end of the war in May 2009 to boost livelihoods in the north and east.

BOC Chairman Dr. Gamini Wickramasinghe revealed industry giant BOC’s support for the revival of north and east in response to a question posed by journalist during his briefing to media yesterday.

He said BOC support has been towards livelihood development covering agriculture, dairy, fisheries, and trade, as well as housing and construction.

Wickramasinghe also said that repayment of loans taken by customers in the north and east was excellent as the Non-Performing Loans (NPLs) was on average 1%. “People in the north and east are responsible and conscious of their obligations, hence the good repayment track record,” he added.

He also said that BOC has been highly supportive of the agriculture sector, with significant exposure, apart from being a lender to various big projects both in the public and private sector.

Wickramasinghe was of the view that with an anticipated rebound in the economy and lifting of the credit ceiling, appetite for loans will be better in 2013.

As at end September 2012, net loans and advances by BOC had grown by 22.3% to Rs. 665 billion from end 2011.