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Sri Lanka ETI to make interim payment to depositors: Central Bank

ECONOMYNEXT – Sri Lanka’s troubled ETI Finance Limited has been ordered to make an interim repayments of 10 percent of deposits amounting 3.35 billion rupees and interest of 1.4 billion from cash received from an asset sale, the Central Bank said.

A buyer of ETI Finance assets had transferred 32 million US dollars out of 75 million dollar which has a rupee value of 5,017.6 million US dollars, the central bank said.

The payments will start from June 05, 2018.

ETI had been instructed to repay a further 10 percent of deposits when the balance 43 million had been received, the central bank said.

The details of the payment plan commencing on 05.06.2018 will be informed to depositors by ETIFL shortly.

The CBSL is requested "all depositors to be patient until the finalization of the action plan with regard to ETIFL and to cooperate with the Central Bank appointed management panel of ETIFL to implement the payment plan."

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