16 May 2011

Sri Lanka Private Sector Credit Grows by 32pct in G1 2011

16th May 2011, www.island.lk

Outstanding credit to the private sector from the domestic banking system increased 32 percent to Rs. 1.43 trillion by the end of March 2011 from Rs. 1.08 trillion a year ago, latest Central Bank data showed.

The domestic banking sector created new loans amounting to Rs. 97.9 billion during the first quarter of 2011 while Central Bank loans to the government during the quarter amounted to Rs. 19.9 billion.

Total outstanding credit to the government had increased a marginal 0.4 percent to Rs. 659.2 billion while loans from the Central Bank declined by 3.9 percent to Rs. 96.8 billion by the end of March 2011 from a year ago.

Credit to public corporations increased by 25.4 percent to Rs. 121.5 billion.

Related Info :

Sri Lanka Bank Lending to Private Sector up 27.8pct in 2010. New Loans Rs290bn. Reduction in Current Interest Margin of 4.5pct Urged

Sri Lanka Banking Sector Profits Up in 2010

Sri Lanka Banks' Exposure to Stocks to be Limited for Banking Sector Stability

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