Govt. proposes to divest 20% each in two largest state banks

13 November 2023 01:32 pm Views - {{hitsCtrl.values.hits}} 4 Bookmark

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The budget 2024 proposes to divest 20 percent stake in the two largest state banks in the country.

President Ranil Wickremesinghe said the divestment will be carried out by way of selling the share to the public or finding strategic investors.

He said this needs to be carried out to strengthen the balance sheets of the two banks and their capital, and also to reduce the burden on taxpayers to capitalize these banks.

To this end, the Banking Act will be amended in the first half of 2024.

Comments - 4

R De Silva Monday, 13 November 2023 02:17 PM

Why not recover colossal loan's given to politician's and its stooges who are now evading repayment.

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Prince Monday, 13 November 2023 02:41 PM

That's true. This is the first thing that should be done. Or place penelties on them until the funds are required. In the face they act as billionaires but from stolen money.

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sam Monday, 13 November 2023 04:06 PM

Recover loans given to your stooges

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Nijyrfdok Tuesday, 14 November 2023 06:36 AM

This is a very good idea, no need investors, get those billions which was loaned out to some 20 odd politicians, you can get 53 billion, then what about GR stollen assets, money, if you do this, before June 2024, this country will improve the economy

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