The expansion into the 27-member European Union nations network, will be initially Italy, based on the success of the London Branch, now a fully fledged United Kingdom Bank. Italy will be followed initially by France and Germany.

Plans are also on to expand in South India, with Rameswaran for a start and move to Mumbai, Bangalore and New Delhi.

“We have ambitious plans of expanding into the 27-member European Union-nation network starting with a branch in the Italian capital of Rome or key city Milan in July and based on its success, we will be venturing into four other branches within Italy within this year with the London subsidiary as the BoC European headquarters,” Bank of Ceylon Chairman Dr. Gamini Wickremesinghe said.

Now that we have the London subsidiary operated and regulated by the UK authorities, it is very easy to move into the European network, the Chairman