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| Sunday, 23 January 2005 |
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| News Business Features Editorial
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Bank of Ceylon, Sampath in tandem Bank of Ceylon will very soon have shared ATMs with Sampath Bank. At present the system is being checked by both banks. Deputy General Manager BOC M.T. Perera said sharing the Automated Teller Machines will offer convenience to customers of either bank to carry out their banking at a convenient location. BOC at present has 106 ATMs and plans are underway to install 50 more ATMs at convenient locations such as supermarkets and railway stations. At present BOC is being restructured to face the challenges of the 21st century and IT is playing a vital role in the restructuring process. The bank has purchased a state of the art computer system to link all branches to a centralized system. It will pave the way for centralized processing of cheques, trade finance as well as other customer services. The government has given permission for the bank to recruit staff we will recruit and train the staff, this will help us improve the delivery of services to our valued customers, said Perera. Already 10 branches are working online while the bank intends to link 100 branches to the system by April. At present the bank has 300 Branches while plans are underway to open three more branches this year. The bank will also open extension offices as and when there is a need. This year we are also trying to inculcate and promote the habit of savings among the younger generation. The bank has three accounts for children namely Rankekulu, 14 plus and 18 plus. In the event a child has an account at the BOC they are eligible for scholarships as well as various other benefits. " The bank will concentrate on opening more school banks ' Rankakulu sansadaya'. The school banks while inculcating the habit of savings from young days will also give an understanding of banking and finance to the students who are trained to handle the branch," said Perera. Earlier we were not very aggressive on the leasing business but now we are and we want to promote it as one of our core areas of business. At present we have a portfolio of Rs 700 mln under leasing. The bank has given over Rs 1000mln in loans for the sectors of SMI, Leasing, housing, vehicles , farmers loan schemes, perennial crop development, estate sector self employment, fisheries, agriculture animal husbandry. The bank has given Rs 25 mln for the Disaster Relief Fund while we have also allocated funds for the staff who have been affected due to the disaster. BOC has also opened a special account in the London branch to collect funds from UK and Europe While we have also made a special arrangement with the DBS bank of Singapore for remitting of funds for disaster striken persons. |
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