Sri Lankan banks have shown a considerable interest in resuming normal banking operations in the north after the war ended recently, according to a Central Bank statement.
This situation has resulted in many licensed commercial banks and licensed specialized banks seeking approval to open new branches and other banking outlets in the north. The Central Bank has, over the past three weeks, granted approval for 67 new bankig service outlets there, which is the largest number of approvals given during a comparable period.
“This trend of banking expansion in the Northern Province is expected to grow with the resettlement of the displaced persons,” the bank said. The bank said it is also formulating new micro-finance programmes to cater to the credit needs in the province and to unleash the potential for development, and thereby facilitate faster development in the Northern Province.