Sri Lanka’s Cargills, Sampath, DFCC Bank says met lending rate ceilings

ECONOMYNEXT – Sri Lanka Cargills Bank, Sampath Bank and DFCC Bank said they had met the price ceiling on loans set by the central bank for end 2019.

“Cargills Bank confirms that it is in conformance with the above order, having reduced the AWPR by 386 basis points during the period,” Chief Executive R Theagarah said in a statement.

Sampath Bank said in a stock exchange filing that it had complied with the ruling.

DFCC Banks also said it had cut lending rates as required.

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Sri Lanka’s central bank to punish eight banks for flouting price controls

Deputy Central Bank Governor Nandalal Weerasinghe had said several banks had not complied in the week before the last of 2019 and banks had a few more days to comply. (Colombo/Dec31/2019)

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