ECONOMYNEXT – Sri Lanka’s state-run People’s Bank said it was strong and stable and had relationships with 900 foreign banks.
The full statement is reproduced below:
People’s Bank wishes to place on record the following with regard to certain opinions expressed or reported recently on media;
People’s Bank, as a state owned entity and a bank that possesses the largest customer base and branch network in Sri Lanka, enjoys an unparalleled position of stability and security.
As a result of the bank’s strong position of stability and highest level of professionalism maintained in its activities throughout the history, People’s Bank is enjoying strong mutually beneficial banking relationships with over 900 foreign banks.
As a result of these close banking relationships and the bank’s positive international reputation, People’s Bank is in an enviable position of being able to negotiate credit facilities directly with respective foreign parties without any third party involvement, thus ensuring lowest costs and absolutely no room for corruption of any sort.
Continuing its 60 years legacy of banking excellence, People’s Bank remains committed to serve all communities in the country upholding the highest level of professionalism, thus propelling the economic progress of Sri Lanka.