By Hiran H.Senewiratne
"The maintaining of a capital adequacy ratio under the Basel Three international compliance requirement from next year would have some implications for the local banking sector, Sampath Bank Managing Director Nanda Fernando said.
" The Basel Three international compliance requirement of maintaining a minimum capital adequacy ratio will become mandatory for all banks in the country and it would have some issues for the sector since those banks have to increase their capital, Fernando told the media yesterday..
He said that Sampath Bank has the capability for this adaptation because of the Bank's financial stability and because of the confidence of the Bank's customers in it.
Fernando also said that next year would be a challenging year for the sector because of the anticipated increase of US Federal Reserve interest rates since the US economy and the dollar are growing strong.
" This would have some challenges for the national economy but could be managed if we take measures to stabilize the rupee with proper and prudent regulatory measures, Fernando said.
The Sampath Bank Managing Director also said the interest rates and the rupee will not depreciate next year, as in the case of this year, because the Central Bank and the Ministry of Finance will take proper measures to control the situation.
Sampath Bank, launched in 1987, is now a leading commercial bank in the country with more than 200 branches island-wide. It has 4000 employees and positions itself as a post innovative and modern bank in Sri Lanka.
"The maintaining of a capital adequacy ratio under the Basel Three international compliance requirement from next year would have some implications for the local banking sector, Sampath Bank Managing Director Nanda Fernando said.
" The Basel Three international compliance requirement of maintaining a minimum capital adequacy ratio will become mandatory for all banks in the country and it would have some issues for the sector since those banks have to increase their capital, Fernando told the media yesterday..
He said that Sampath Bank has the capability for this adaptation because of the Bank's financial stability and because of the confidence of the Bank's customers in it.
Fernando also said that next year would be a challenging year for the sector because of the anticipated increase of US Federal Reserve interest rates since the US economy and the dollar are growing strong.
" This would have some challenges for the national economy but could be managed if we take measures to stabilize the rupee with proper and prudent regulatory measures, Fernando said.
The Sampath Bank Managing Director also said the interest rates and the rupee will not depreciate next year, as in the case of this year, because the Central Bank and the Ministry of Finance will take proper measures to control the situation.
Sampath Bank, launched in 1987, is now a leading commercial bank in the country with more than 200 branches island-wide. It has 4000 employees and positions itself as a post innovative and modern bank in Sri Lanka.
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