Deutsche Bank risk management system

Deutsche Bank has launched a unique credit risk management system in Sri Lanka that provides local banks with a new way of processing loan applications and managing credit risks on their balance sheets.

Known as the Comprehensive Approval System (COMPAS), it is designed to help banks in Sri Lanka streamline the processing of new loan applications from small and medium businesses by automatically evaluating each application based on a comprehensive range of risk criteria.

Chief Country Officer for Deutsche Bank in Sri Lanka Stefan Mahrdt, said: “COMPAS is a means for banks in Sri Lanka to streamline loan processing systems, potentially lower processing costs, while improving overall risk management and advancing credit quality”.

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Seismic survey off Lanka

Norwegian SCAN Geophysical ASA is performing a 2-D seismic survey offshore in Sri Lanka after winning a contract from Belgian and UK-based GEMS.

SCAN’s M/V Geo Searcher is using a 6,000-metre (19,685-ft.) streamer and a 4,200 cubic inch source array to acquire the data over a two-month period. The survey is expected to be complete by the end of this month.

GEMS specializes in exclusive economic zones and United Nations Convention on the Law of Sea studies and is conducting the survey on behalf of the Government of Sri Lanka as part of its outer continental delimiting study.

SCAN now operates one 2-D and one 3-D streamer vessel. The seismic company will be adding one 2002-built 3-D vessel and three newbuild eight to ten streamer 3-D seismic vessels to its fleet in 2008.

Petroleum and Petroleum Resources Development Minister A. H. M. Fowzie on Monday disclosed that Sri Lanka will able to produce it’s own crude oil by the year 2010 from oil exploration in the Mannar basin.

Energy Current