The first foreign bank was opened in Jaffna today (11) with HSBC commencing its operations in the town.

"We are delighted to announce the establishment of our 15th branch in Jaffna. This will bring a truly global banking experience to the people of Jaffna and we are very much looking forward to participating in the vibrant post conflict economy that is developing there", said Chief Executive Officer Sri Lanka and Maldives HSBC, Nick A Nicolaou.

The dawn of 2010 will no doubt bring forth many opportunities for local and foreign investors to set up operations in Sri Lanka in an environment conducive for the commencement of many mega infrastructure projects. We fully expect to participate in this economic upturn and remain firmly "open for business", he added.

We see the potential for many business opportunities especially in the newly liberated areas, and with our new Jaffna branch expect to be fully involved in them, he further stated.

Having been established in July 1892, the HSBC has completed 117 years of service in Sri Lanka. It facilitated over US$1bn of infrastructure lending in the power, water, harbor and telecom sectors during the past 12 months.