NSB issues statement claiming misinterpretation

The National Savings Bank yesterday said that there had been a misinterpretation on NSB by a news item (not published in The Island) currently in circulation.

Full text of the statement: We have observed that there is a misinterpretation on National Savings Bank (NSB), amongst the public, of a news item, currently circulating pertaining to the Sri Lanka Savings Bank (SLSB).

We wish to clarify that SLSB is a fully owned subsidiary of NSB, and that the recent developments involve the proposed acquisition of SLSB with NSB, pursuant to a regulatory directive by the Central Bank of Sri Lanka (CBSL).

Further, the information in circulation regarding a Voluntary Retirement Scheme (VRS) and the termination of operations are solely related to the SLSB and not applicable to NSB.

We wish to emphasize that this decision does not have any impact on the stability of NSB.

We expect that this clarification addresses any confusion and wish to assure the continued strength and integrity of National Savings Bank.