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| Sunday, 22 August 2004 |
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| News Business Features Editorial
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SCB records profit of Rs. 800m Standard Chartered Bank (SCB) has recorded a pre tax profit growth of 23 per cent to Rs 800 million, said its Chief Executive Officer Vishnu Mohan. He said that the bank's revenue has increased by 16 per cent, which is close to Rs 2 billion, Mohan said at the launch of the country's first zero per cent interest instalment scheme on credit cards. He said that the Bank has adopted proper market strategies to improve the operations in Sri Lanka which has shown an enormous progress during the recent past. He said that the bank's credit card has become very popular in the country, and is growing in volumes with a market share of 23 per cent in the country. Head of Consumer Banking, Shabry Ghouse, said that under this scheme SCB cardholders have an option of purchasing goods with no interest cost. The first from SCB to all its cardholders enabled the instant purchase of any desired items from selected merchants with repayment staggered over a period of time in equal instalment with no interest component tied to it, Ghouse added. He said that this product offering is the result of product research and development, which has leveraged off the synergies forged by strong alliances for customer centric value addition and benefits. Ghouse said that the product partner merchants with whom the bank has established this alliance are market leaders and makers who represent leading global brands in Sri Lanka. In addition to the product range and depth they also have extensive branch and show room network which provide access for a greater population to avail themselves of the offer, he added. The product partner merchants are Singer Sri Lanka, Dialog GSM, Hayleys Consumer Products Ltd, Abans Lts and Softlogic group who are sole agents and distributors for Dell computers and Lifestyle Furniture. This amazing one of a kind offer is available on purchases made from partner outlets between 19th August and 30th November 2004. This offer is open to supplementary cardholders as well. |
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