Sampath Bank, DFCC say complied with CB lending caps

Sampath Bank and DFCC Bank yesterday said they have complied with the Central Bank (CB) directives to bring down the Average Weighted Prime Lending Rate (AWPR) by 250 basis points, by the end of last week. 

In a stock exchange filing yesterday, Sampath Bank stated that it has fully complied with the regulatory requirements, in line with the bank’s commitment to good governance and compliance

with its regulators. In a similar stock filing on Monday, DFCC Bank stated that the bank had fully complied with the CB’s directives by lowering AWPR by 250 basis points by December 27. 
CB Senior Deputy Governor, Dr Nandalal Weerasinghe last week noted that Sampath Bank and DFCC Bank might not be able to comply with the CB’s directive as the two banks hadn’t adjusted their AWPR sufficiently as of December 20 with few days remaining for the deadline.  However, Sampath Bank reduced its AWPR sharply by 96 basis points to 10.44 percent. Similarly, DFCC Bank also reduced its AWPR by 65 basis points to 11.25 percent.