Cargills Bank Ltd

Gaja · 1 Cargills Bank Ltd Wed Jan 22, 2014 3:08 pm

Gaja

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http://www.cse.lk/cmt/upload_cse_announcements/1021390379009_.pdf

K.Haputantri · 2 Re: Cargills Bank Ltd Wed Jan 22, 2014 5:32 pm

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Recently the CB announced that there are too many banks & finance companies and they even sujested merger of weak banks with the strong.

?What is the rationale in issuing new licenses for banks. ?Why cant they stick to the declared policy. This is disgusting.

Aubrey Perera · 3 Re: Cargills Bank Ltd Wed Jan 22, 2014 5:52 pm

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I think Cargills makes an exceptional case for a license ? even if you take their branch network it will give you an indication as they already can tap their existing customers.

worthiness · 4 Re: Cargills Bank Ltd Wed Jan 22, 2014 7:12 pm

worthiness

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Most likely Cargills license would have processed to some extent the time new regulation is introduced. As said, Cargills must have special marketing strategy to attract customers aligned with their loyalty program.

Gaja · 5 Re: Cargills Bank Ltd Wed Jan 22, 2014 7:56 pm

Gaja

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K.Haputantri wrote:Recently the CB announced that there are too many banks & finance companies and they even sujested merger of weak banks with the strong.

?What is the rationale in issuing new licenses for banks. ?Why cant they stick to the declared policy. This is disgusting.

They were given the provisional Approval on 06.09.2011 - http://www.cse.lk/cmt/uploadAnnounceFiles/6061315371883_457.pdf

Mr. Harris Premaratane was took the office as CEO from 01.01.2012 - http://www.cargillsceylon.com/mediacentre/News.aspx?newsId=0260

Around March 2013 IFC & DEG each bought 10% share - http://www.cse.lk/cmt/uploadAnnounceFiles/4401362741499_457.pdf

They even take some places around colombo for the branch network

dhanurrox · 6 Re: Cargills Bank Ltd Wed Jan 22, 2014 8:00 pm

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CARG stagnant around 140-150 for some time.Will this trigger something.?

Redbulls · 7 Re: Cargills Bank Ltd Wed Jan 22, 2014 8:03 pm

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Gaja wrote:

K.Haputantri wrote:Recently the CB announced that there are too many banks & finance companies and they even sujested merger of weak banks with the strong.

?What is the rationale in issuing new licenses for banks. ?Why cant they stick to the declared policy. This is disgusting.

They were given the provisional Approval on 06.09.2011 - http://www.cse.lk/cmt/uploadAnnounceFiles/6061315371883_457.pdf

Mr. Harris Premaratane was took the office as CEO from 01.01.2012 - http://www.cargillsceylon.com/mediacentre/News.aspx?newsId=0260

Around March 2013 IFC & DEG each bought 10% share - http://www.cse.lk/cmt/uploadAnnounceFiles/4401362741499_457.pdf

They even take some places around colombo for the branch network

Plus there were issues related to one of their office building, One of the top politicos need the building for his associates business bla bla......

Seems to be sorted after some compromise. I'll Update later if possible and acceptable.

Leon · 8 Re: Cargills Bank Ltd Wed Jan 22, 2014 11:19 pm

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Redbulls wrote:

Gaja wrote:

K.Haputantri wrote:Recently the CB announced that there are too many banks & finance companies and they even sujested merger of weak banks with the strong.

?What is the rationale in issuing new licenses for banks. ?Why cant they stick to the declared policy. This is disgusting.

They were given the provisional Approval on 06.09.2011 - http://www.cse.lk/cmt/uploadAnnounceFiles/6061315371883_457.pdf

Mr. Harris Premaratane was took the office as CEO from 01.01.2012 - http://www.cargillsceylon.com/mediacentre/News.aspx?newsId=0260

Around March 2013 IFC & DEG each bought 10% share - http://www.cse.lk/cmt/uploadAnnounceFiles/4401362741499_457.pdf

They even take some places around colombo for the branch network

Plus there were issues related to one of their office building, One of the top politicos need the building for his associates business bla bla......

Seems to be sorted after some compromise. I'll Update later if possible and acceptable.

Yes pls enlighten us.

Leon · 9 Re: Cargills Bank Ltd Wed Jan 22, 2014 11:22 pm

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K.Haputantri wrote:Recently the CB announced that there are too many banks & finance companies and they even sujested merger of weak banks with the strong.

?What is the rationale in issuing new licenses for banks. ?Why cant they stick to the declared policy. This is disgusting.

My initial reaction was the same as you. I think only last week CB realized there are too many Banks and NBFI. By then CB had granted the approval for Cargills Bank.

hettdas · 10 Re: Cargills Bank Ltd Thu Jan 23, 2014 8:45 am

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Leon wrote:

K.Haputantri wrote:Recently the CB announced that there are too many banks & finance companies and they even sujested merger of weak banks with the strong.

?What is the rationale in issuing new licenses for banks. ?Why cant they stick to the declared policy. This is disgusting.

My initial reaction was the same as you. I think only last week CB realized there are too many Banks and NBFI. By then CB had granted the approval for Cargills Bank.

Yes. I also agree with you. If CB says too many banks and finance companies, why they gave new license to Cargils ? Sri Lanka is a small country so do we need such amount of banks and finance companies? They might have asked the license few years ago. But CB could hold it until other small banks get merged and stabilized.