APEA helps entrepreneurs find new markets - President
The Asia Pacific Entrepreneurship Awards 2012 (APEA)
helps local entrepreneurs find new markets, said President Mahinda
Rajapaksa. In his personal message to the APEA awards ceremony the
President indicated that awards of this nature helps Sri Lankan
entrepreneurs to benchmark themselves.
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Private sector credit up by 35%
Sri Lanka’s private sector credit grew at an
unusually high rate of 35 percent in 2011 and it is still
continuing. Central Bank Deputy Governor C Premaratne said at the
inauguration of the international seminar on Credit Evaluation and
Risk Analysis at the Centre for Banking studies in Rajagiriya
yesterday.
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Seylan surpasses Rs. 1 b PAT despite VRS cost of Rs. 700 m
Seylan Bank Plc reported its best ever Q4
results, reflecting a growth of 82% over last year to report a
post-tax-profit of Rs. 699.73 million (2010 - Rs. 383.91 million)
for the quarter. Seylan Bank Chairman, Eastman Narangoda stated,
“Profit-after-tax for the entire year surpassed Rs. 1 billion. This
was even after the extraordinary cost of Rs. 698.7 million incurred
for a Voluntary Retirement Scheme. The 2011 reported post-tax-profit
of Rs. 1,003 million is below last year’s profit figure of Rs. 1,229
million. However, if the VRS cost (Rs. 698.7 million) is factored
out, 2011 results would have significantly exceeded last year’s
performance”.
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