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Softlogic IPO in March

Jan 31, 2011 7:00:00 PM - aussieindolanka.com
The banking sector in Sri Lanka needs to consolidate to support the rapid economic development in the country, Softlogic Holdings Chairman and Managing Director Ashok Pathirage told Daily News Business. “The country has a high number of small banks and they are unable to provide massive development loans. The banks need to consolidate to support growth and the development process of the country,” he said. “The corporate sector needs to undertake projects and support the country’s socio economic development. It is important that top banks merge to provide these funding facilities within the country,” Pathirage said.