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| Sunday, 1 September 2002 |
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| News Business Features Editorial
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Nations Trust to expand branch network Nations Trust Bank, which currently operates networked branches in strategic locations, plans to expand this to network 20 branches by the end of the year and to 50 by the end of 2004. Commenting on the bank's business plan, Chef Executive Officer Moksevi Prelis said: "Our business plan is based on a dual expansion strategy of organic growth, coupled with the acquisition of complementary businesses". Due to its strategic shift in focus towards retail banking, the bank has increased its revenue and profits by over 50 per cent during the first half of this year, he said. In 1999, a consortium comprising John Keels Holdings Ltd., Central Finance Company and the International Finance Corporation took over the local operations of the Honk Kong-based Overseas Trust Bank. This resulted in the birth of Nations Trust Bank. Institutions that have come under the bank include Waldock McKenzie, the Kandy branch of Standard Chartered Bank, the Personal Banking Division of Deutsche Bank, currently in transition, as well as the Sri Lankan operations of American Express, which awaits the final nod from the Central Bank. Of Nations Trust Bank's technological edge, Mr. Prelis said: "We were the first in Sri Lanka to use "i-flex", the world's most popular banking package, which facilitates seamless multi-channel banking. Our technological edge also enables us to integrate newly acquired businesses into our systems with relative ease. |
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| Editorial | Security Produced by Lake House |
