Posts

Image
Sampath bank A Public Limited Liability Company incorporated in Sri Lanka on 10th March 1986 under the Companies Act No 17 of 1982 and listed in the Colombo Stock Exchange.      A licensed Commercial Bank under the Banking Act No 30 of 1988.   Re-registered on 28th April 2008 under the Companies Act No 7 of 2007. Sampath Bank PLC is a licensed commercial bank incorporated in Sri Lanka in 1986 with 229 branches and 373 ATMs island wide. Credit Rating: ü   Fitch Rating: Fitch Rating Lanka Limited has affirmed National Long Term Rating of A+(lka) with stable outlook to Sampath Bank. ü   Moody's Investors Service, ("Moody's") has assigned an issuer and long term local currency deposit rating of B1 with negative outlook. Vision of Sampath Bank "The Growing Force in Sri Lankan Financial Services" Values of Sampath Bank Ø   Create a learning culture that promotes individual and organizational deve...
Post a Comment
Read more
Image
History of Banking System The Bank's Beginning             To accommodate dynamic economic and financial system developments upon gaining independence in 1948, the post-independence Government of Ceylon (as Sri Lanka was then known) established the Central Bank of Ceylon to maintain an active monetary policy regime and a dynamic financial sector to support and promote economic growth.             Prior to the establishment of the Central Bank, the Currency Board System set up under the Paper Currency Ordinance No.32 of 1884 functioned as the country’s Monetary Authority, though very narrow in its capacity. This system was deemed inadequate for a developing country upon gaining political independence.               Technical expertise to establish a central bank was sought from the United States of America (USA) in July 1948, with Mr. John Exter, an American economist fr...
Post a Comment
Read more
Image
Banking Sector      The banking sector is the section of the economy devoted to the holding of financial assets for others, investing those financial assets as leverage to create more wealth and the regulation of those activities by government agencies. The banking sector in Sri Lanka is monitored by the Bank Supervision Department of the Central Bank of Sri Lanka under the Banking Act, Monetary Law Act and the Exchange Control Act . When we consider the Banking system we can categorize as follows. Financial system 1.       Banking System v   LCBs ·          Private ·          Public v   LSBs 2.       Non Banking System Banking System Banks are just one part of the world of financial institutions, standing alongside investment banks, insurance companies, finance compan...
Post a Comment
Read more