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Sri Lanka’s Pan Asia Bank given time to raise capital

ECONOMYNEXT – Sri Lanka’s Pan Asia Bank said it had been given more time to raise minimum capital requirements by the Central Bank.

Under the new deadlines the lender should have 5.0 billion in capital by January 2016, 7.5 billion rupees by January 2017 and 10 billion rupees by January 2018.

PABC had net assets of 5.1 billion rupees by June 2015 with gross assets of 85 billion rupees. (Colombo/Aug21/2015)

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