Non performing loans go through a recovery process

Times are extraordinary with the macro stresses clearly unprecedented

Banks face mark-to-market losses as well as bad loans from soft-peg crisis

Stability of foreign exchange rates was in their eyes a mischief, not a blessing

Net other operating income was loss of 12.2 billion rupees, loan loss provisions were down

Total advanced to banks through swaps have risen to US$351mn

Minister Ali Sabry discussed the need for FOREX liquidity support for the state banks of Sri Lanka

Banks were also asked not to buy back shares, to use "extreme due diligence and prudence" in capex

Constrained access to foreign currency funding and indications of stress experienced by banks in the system as result

On heightened forex risks