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Tuesday, June 19 , 2012 - 6.03 GMT
BoC reaches Rs one trillion Balance Sheet


Bank of Ceylon has created history by recording Rs one trillion Balance Sheet at as end May this year.

According to the Chairman of Bank of Ceylon Dr. Gamini Wickramasinghe, this is the first time that a corporate entity has achieved this significant mile stone and this could be attributed to strong foundation during the 70 year banking history and working towards a corporate plan.

In keeping with the 011012 target – Rs one trillion balance sheet, Rs 10 billion profit and 2012 as the time frame, we were able to achieve both the targets well before the target time, he said.

We achieved the Profit of Rs 10 billion in 2010 and Rs 15 billion in 2015. We are now looking at Rs 2.5 trillion Balance Sheet to complement the Government’s efforts to double the per capita income to US $ 4,000, the Chairman said.

The entire economic activities that lead to GDP need to be doubled to cater to the growth in the per capital income. The BOC is to lead the way in this regard and will be looking forward to be one of the key contributors in the country’s forward march,” he said.

The Bank of Ceylon (BOC) will be positioned as an international bank in Asia to expand its businesses by attracting foreign customers. The bank plans to open three branches in India and the re-opening of the Pakistan branch is under consideration, said the Chairman.

We are focusing on the SAARC region and will be seriously looking at Russia. The branch expansion plan also includes USA, Canada, Australia, Singapore, Hong Kong, Italy and France. We will concentrate on countries that Sri Lankans are residing on a prioritize basis, the Chairman said.





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Last modified: June 19, 2012.

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