CB clarifies...
ATTENTION of the Central Bank of Sri Lanka has been drawn to a press
release issued by Julius & Creasy Attorneys-at-Law, on behalf of the
former Directors of Mercantile Credit Limited.
The Central Bank of Sri Lanka wishes to clarify that a management
committee was appointed to Mercantile Credit Limited and credit was
granted to the said company following the company having reported to the
government a very serious decline in its financial conditions leading to
an erosion of its capital base and a loss of confidence of depositors
and the public, states a Central Bank press release. |