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| Sunday, 10 July 2005 |
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Standard Chartered brings Rs. 2.5 bn. more to Lanka Standard Chartered Bank PLC said they would be increasing capital in its Colombo office by Rs. 2.5 billion (USD 25 million) this year to fund growth in their business. "We have been in Sri Lanka for 147 years and over the years we have invested and expanded our operations significantly. This investment is a further reflection of our confidence in the country and our commitment to the country's economic progress. We continue to believe the country holds great growth potential" said Vishnu Mohan, CEO Standard Chartered Bank Sri Lanka. In addition the Bank has also invested significantly in expanding and upgrading its customer interface channels such as the branch and ATM network and introducing new technology. Recently the Bank opened a new ATM in Battaramulla, a new service centre in Wattala and relocated its Branch in Rajagiriya to modern premises. Standard Chartered was also one of the first financial institutions globally to come forward with a firm commitment of financial assistance in the wake of last December's tsunami. The Bank committed USD 5 Million in assistance to the countries impacted and Rs. 100 Million (USD 1 Million) has already been disbursed in Sri Lanka to the Rotary Standard Chartered Schools Trust (GTE) Ltd to rebuild 25 schools damaged or destroyed by the tsunami. The project is progressing well and will benefit over 12,000 students. |
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