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| Sunday, 03 August 2003 |
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Business |  |
| News Business Features Editorial
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BoC plans massive investment on infrastructure by Pelham Juriansz The largest bank and leading State bank in the country, Bank of Ceylon (BoC), which celebrates its 64th anniversary this year, has targeted a pre-tax profit of two billion rupees by the end of the year. It hopes to invest five to seven billion rupees to improve its infrastructure. The bank plans to open new branches in Narahenpita and Malabe while several more suitable locations for branches have been identified. A speedy and secure door-to-door express delivery service of foreign remittances was implemented on August 1 to coincide with the anniversary. Under this scheme, all remittances received at the BoC Head Office in Colombo and online branches will be paid on the same day. A door-to-door service is available for all Inward Foreign Remittances by Tele-SWIFT or Internet, where payment advice is delivered at the doorstep of the beneficiary by tele-mail service, enabling them to obtain cash at the nearest BoC branch within 48 hours. "The 230-branch network of the bank, which is expected to be increased to 300, has an aged, but experienced staff. Most other banks have recruited their staff from BoC," S.N.P. Palihena, General Manager of the bank said. "The bank is planning to change with the changing times and the process of globalisation. New software packages are being introduced to take it forward in technological superiority, to be second to none in the country. Advanced software packages will be introduced during the course of the year to about 100 branches initially, with all of them linked to a network called 'Any-where Banking'. "MTI Consultants is assisting in the re-launch of BoC. Committees have also been appointed to look into performance appraisal, staff recognition and reward systems." |
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| Editorial | Security Produced by Lake House |
