Bank of Ceylon reaches historic milestone in record time
Bank of Ceylon rewarded the five Samaritans and three police
officers who foiled the Battaramulla Bank of Ceylon Branch
robbery last week. BOC Chairman Dr. Gamini Wickramasinghe
rewarded them with cash prizes of Rs. 100, 000 each. Here
Chairman, Wickramasinghe presenting the cheques to the Police
officers. BOC AGM Western Province South Nimal Fernando looks
Bank of Ceylon created history by recording Rs one trillion Balance
Sheet at as end May this year. “This is the first time that a corporate
entity has achieved this significant mile stone and this could be
attributed to strong foundation during the 70 year banking history and
working towards a corporate plan. In keeping with the 011012 target – Rs
one trillion balance sheet, Rs 10 billion profit and 2012 as the time
frame, we were able to achieve both the targets well before the target
time,” Bank of Ceylon Chairman Dr. Gamini Wickramasinghe told Daily News
“We achieved the Profit of Rs 10 billion in 2010 and Rs 15 billion in
2015. We are now looking at Rs 2.5 trillion Balance Sheet to complement
the government’s efforts to double the per capita income to US $ 4,000,
Bank of Ceylon Headquarters
The entire economic activities that lead to GDP need to be doubled to
cater to the growth in the per capital income. The BOC is to lead the
way in this regard and will be looking forward to be one of the key
contributors in the country’s forward march,” he said.
“The Bank of Ceylon (BOC) will be positioned as an international bank
in Asia to expand its businesses by attracting foreign customers.
The bank plans to open three branches in India and the re-opening of
the Pakistan branch is under consideration.
“We are focusing on the SAARC region and will be seriously looking at
Russia. The branch expansion plan also includes USA, Canada, Australia,
Singapore, Hong Kong, Italy and France. We will concentrate on countries
that Sri Lankans are residing on a prioritize basis,” he said.
“The BOC disbursed Rs 80 billion funds for the North and the East in
post war Sri Lanka and also have supported the development initiatives
in the Southern Province by disbursing Rs one billion mainly targeting
the fisheries sector.
We provided assistance to difficult areas in South to develop the
fisheries industry by providing long haul boats for fishing in the deep
This was beneficial for the fishing community to improve their living
standards which also resulted in growth in the boating industry as the
boats were produced locally, he said.
The country needs foreign exchange and the bank was able to secure 50
percent of the total remittances to the country. “The government’s
consideration for more capital infusion to the bank will enable it to
play a wider role in lending and other activities.
The bank intends to increase the capital base and the government
support is vital as it will also help create more liquidity,” Dr.