State Banks to raise Rs 10 b from savings
Harshini Perera
|
A beneficiary receiving a Unity Premium Bond certificate from
Bank of Ceylon Chairman Dr Gamini Wickramasinghe. BoC GM B A C
Fernando looks on. Picture by Prabodhi Lanka |
Bank of Ceylon together with the two state banks, People’s Bank and
National Savings Bank will expect to raise Rs 10 billion within the next
two weeks from savings which will be directed to the country’s
development Bank of Ceylon Chairman, Dr Gamini Wickramasinghe told Daily
News Business.
The Bank of Ceylon targets a bank balance of Rs one trillion at the
end of 2012. A country should ideally have a savings base of 35 to 45
percent of its GDP where as in Sri Lanka the savings base is 24 percent
of the GDP, he said at the launch of Unity Premium Bond, a saving
certificate yesterday.
With the expectation to increase the savings and to mark the
assumption of duties of President Mahinda Rajapaksa, Bank of Ceylon (BoC)
launched the Unity Premium Bond in denominations of Rs 1,000, Rs 5,000,
Rs 50,000, Rs 100,000 and Rs 500,000. The Unity Premium Bond will be
available from two weeks from yesterday until November 30 at a special
interest rate of eight percent.
The maturity period of these products will be 24 months. The savings
base of Sri Lanka will also help to double the per capita income as
expected by 2016.
Some of the Bank of Ceylon branches will provide banking services all
through the year where there will also be postal services provided. |
