Banking

Sri Lanka Banking

With strong asset growth, reliable profitability and solid capital adequacy, the Sri Lankan banking sector stands in sound health these days as it looks forward to a period of continued economic stability. Like other sectors, the industry is moving in the direction of greater capital and technological requirements, and continues to undergo a period of consolidation – particularly among its smaller players. In addition, new legislation on microfinance holds promise in seeing banking services spread further beyond the Western Province, with major benefits for companies and individuals outside of the country’s metropolitan centre.

This chapter contains interviews with Indrajith Coomaraswamy, Governor, Central Bank of Sri Lanka; and Jim McCabe, CEO, Standard Chartered Sri Lanka.