New capital is to be injected into Seylan Bank, recently taken over by the regulator, to instill confidence in the bank, according to a Central Bank (CB) plan. Senior officials says new shareholders and new cash would provide some stability to the private bank before the CB decides to exit from management control.
The Central Bank (CB) on Friday announced a Rs 4-billion bailout package for ailing finance and leasing companies, caught up in the Golden Key and Sakvithi debacles and aimed at restoring public confidence.
