Thursday, May 28, 2009

MBSL to restore The Finance in six months Troubled financial institutions getting back on track

By Devan Daniel

(TI)Depositor confidence has been restored to a degree and it is business as usual at Ceylinco Savings Bank and Finance and Guarantee Company Limited while The Finance Company is expected to stabilize within the next six months.

The asset values of the three companies exceed Rs. 45 billion and authorities had to restore public confidence by strengthening management side operations because a cash bailout was out of the question. Full text