ECONOMYNEXT – The paid up capital of Sri Lanka’s state-run Bank of Ceylon has been raised from 10 billion rupees to 15 billion rupees, by an order of Finance Minister Mangala Samaraweera.
As of the June the 5 billion rupees was set aside for a capital increase pending formal allotment.
Bank of Ceylon is Sri Lanka’s largest commercial bank with gross assets of 1.8 trillion rupees.
It had 102 billion rupees of equity in the form of 15 billion paid up capital, 7.9 billion rupees of permanent reserve fund, 63 billion rupees of retained earnings and 15.9 billion rupees of other reserves. (Colombo/Sept15/2017)