BoC targets Rs 1 trillion asset base end 2012
Mulling $ 100m bond issue to fund overseas
expansion :
The Bank of Ceylon has set itself an ambitious target of
reaching the landmark Rs 1 trillion mark for its asset base by
December 31, 2012, which will enable it to emerge within the topmost
one thousand banks in the world. “We have set this Rs 1 trillion
target for end 2012 and it is practical and not elusive. The asset
base of the bank was Rs 718 billion as at December 2010 and now it
is around Rs. 740 billion. So, we have set ourselves the target of
Rs 1 trillion which we hope to achieve by end of next year, a
confident Bank of Ceylon Chairman Dr Gamini Wickremesinghe told
Daily News Business yesterday.
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Lanka, Luxembourg conclude avoidance of double taxation
negotiations
The Government of Sri Lanka and the Government
of the Grand Duchy of Luxemburg have concluded negotiations on an
agreement for the avoidance of double taxation and for the
prevention of fiscal evasion with respect to taxes on income and on
capital.
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March export earnings exceed US $ one billion
Stable credit value to improve ratings:
Export earnings in March has exceeded US $ one
billion for the first time in history. This was the highest export
earning of any given month. The first quarter export earnings
recorded a growth of around 54 percent compared to the same period
last year. Central Bank Deputy Governor Dharma Dheerasinghe said
there is significant improvement in all sectors increasing their
exports.
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