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WorldAugust 1 2013

Sri Lanka's banks prosper in peace

Sri Lanka’s banks have been riding on a peace dividend since the end of a 26-year civil war in 2009. As they push ahead, supporting the country’s economic development goals, there are concerns – such as capital constraints and increased regulation – but the mood remains optimistic.
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Sri Lanka's banks prosper in peace

The collapse of Lehman Brothers and the subsequent global financial crisis is not what springs to mind when Sri Lankan bankers are questioned about the recent history of their industry. Instead, the defining moment in their recent history was the end of the country’s civil war in 2009, and the subsequent opportunities that the peace has brought.

“The entire country is now open for business,” says Ravi Dias, managing director and CEO of Commercial Bank of Ceylon. “Sri Lanka beckons to the rest of the world as a country with tremendous investment potential.” 

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