News
BOC says impact of its downgrading negligible
By Sanath Nanayakkare
The Bank of Ceylon (BOC) is set to end the year on a positive note despite the economic downturn due to the Covid-19 pandemic and the recent downgrade of the sovereign and banking institutions in Sri Lanka, BoC informed the media yesterday.
“The bank is winding up the year on a healthy note despite the stresses, posting the highest asset base of Rs. 2.9 trillion, highest deposit base of Rs. 2.3 trillion while maintaining its market leadership in Trade Finance, Treasury Operations including its more than 40% market share of Inward Remittances (US$2.5 billion). In addition to those, the Bank has maintained its market leadership in most of the spheres in the banking and finance arena”, BoC said.
“All our customers can confidently rely on the strength and stability of the BOC for all their banking needs”, it assured.
In stark contrast to several adverse news reports posted on social media over the past two days, BOC said,” The recent downgrade of the sovereign and banking institutions in Sri Lanka has had a minimal impact on the soundness of the Bank. Our international operations continue uninterrupted. Being a bank that has maintained its international presence for over eight decades, its foreign correspondent relationships have never been questioned, and the Bank has been growing from strength to strength. The Bank has earned many local and foreign accolades for its banking experience along its way and looks to Year 2021 on a positive note”.
Four persons including a Budhist monk died and 32 others were injured when two SLTB buses collided head on at Weerawila at arond 12 noon today (18).
Three of the deceased were women. 22 of the injured were admitted to the Hambanthota Hospital while 10 others have been admitted to the Debarawewa hospital.
The Japan Maritime Self-Defence Force (JMSDF) ship OONAMI which arrived at the port of Colombo on a goodwill and replenishment visit on 09 Mar 26 departed on 11 March.
The departing ship was given a formal farewell from the Sri Lanka Navy, in keeping with naval traditions at the Port of Colombo.
The 150.5m long JMSDF OONAMI is commanded by Commander IIO Hiromasa.
During the stay in the island, crew members of the ship explored some tourist attractions in Colombo. The itinerary also included a coastal clean-up drive participated by naval personnel of both countries and engagements with the Sri Lanka Navy, designed to strengthen the bonds of friendship and cooperation.
The Central Cultural Fund established under the provisions of the Central Cultural Fund Act No. 57 of 1980 is responsible for development of cultural and religious monuments in Sri Lanka, settling the expenditure borne for development, renovation and conservation of local and foreign cultural monuments, awarding financial donations for artisans as well as awarding those who served the nation in the fields of culture and religious sectors.
The said act has been passed in Parliament 45 years back and, the requirement to revise the provisions of the act according to the contemporary requirements haa been recognized.
Accordingly, the Cabinet of Ministers granted their policy
approval to amend the said act, considering the resolution furnished by the Minister of Buddhasashana, Religious and Cultural Affairs.
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