State banks should not be privatised – President

Measures should be taken to strengthen state banks instead of privatising them, President Maithripala Sirisena said.

Speaking at a ceremony marking the 80th anniversary of the state-owned Bank of Ceylon (BoC) in Colombo yesterday (30), Sirisena said it is an open secret that state institutes tasked with generating revenue for the State are riddled with corruption, inefficient management and tyrannical activities of trade unions.

However, he commended the BoC for their “stride to empower the national economy.”

A commemorative stamp and a first-day cover were also issued at the event to commemorate the bank’s anniversary.

Prime Minister Ranil Wickremesinghe, Speaker Karu Jayasuriya, BoC Chairman Ronald C. Perera and Chief Executive Officer Senarath Bandara were also present at the occasion.

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