Business
BOC targets Rs. 50 bn coronavirus business bounce back loans
Bank of Ceylon chairman Kanchana Ratwatte engages in religious activities at BOC headquarters in Colombo yesterday with Acting General Manager D.P.K Gunasekera, Board of Directors, senior management and staff. Pic by Sujatha Jayaratne
by Sanath Nanayakkare
Bank of Ceylon (BOC) chairman Kanchana Ratwatte said in Colombo yesterday that the Bank has set its sights on distributing Covid-19 bounce back business loans totaling Rs. 50 billion going forward.
“The government has developed and announced a range of measures aimed at supporting the economy, businesses and employees through the COVID-19 crisis, and the BOC will play a significant role in the government’s business support mechanisms with a view to reigniting the economy back to pre-Covid-19 level”, he said.
BOC chairman made these remarks at an event where BOC celebrated its 81st anniversary, leading the banking and finance landscape in Sri Lanka.
Speaking further Ratwatte said: “The Central Bank has proposed loan schemes to help revive affected businesses and increase money circulation in the country. BOC staff and senior management should work as one to achieve this objective. Under trying circumstances during the pandemic the entire staff rallied round BOC to keep the wheels of commerce moving in the country. BOC made a significant role in moving the economy in the right direction. I want to thank the government and the Central Bank for their guidance and support during this period. Entire staff of the bank had to make many sacrifices too.
‘’Those efforts were never mentioned in the media or elsewhere. In fact, it was under very trying circumstances, services were rendered by the banking sector. Despite the health risk, we kept the banks open throughout the period. Everybody from the lower level employee to the DGM to Acting GM made their fullest contribution to keep BOC operations moving. The health threat is not over yet, But we need to get our 12 million strong customers participating actively in the economy back again. We have started going to regions in the country and encouraging our customers to come to the bank and start their normal business activities.
‘’BOC has a share of 40% of foreign remittances and we have been able to maintain that level up to the end of July except for the month of June where there was a small deviation. Every other month despite the covid situation foreign remittances have flowed to the bank as usual. I would like to call upon the staff and senior management of BOC that despite the challenges we are facing, we need to address the concerns of the government of Sri Lanka. The main focus of the government is to ensure that there is enough liquidity in the system. Most of the relief schemes and moratoriums have been introduced by the Central Bank to ensure that there is adequate money circulation in the market for which purpose we have to think beyond the usual banking practices – without breaking the rules and well within the realm of our accepted banking practices – and help keep the wheels of commerce moving”.
D.P.K Gunasekera, Acting General Manager-BOC said,”BOC has distributed about Rs, 9 billion coronavirus business bounce back loans. Potential loan grants worth Rs. 6 billion have been registered with the Central Bank. In addition to that, our branch network is currently in the process of reviewing loans worth Rs. 12 billion. Thus BOC is working ‘shoulder to shoulder’ with the government to achieve quick economic recovery”.
A number of leading businesspeople of the country who are top-line customers of the bank took part in the event.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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