FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» Plantation Companies
by cheetah Today at 12:29 pm

» COCR IN TROUBLE?
by Equity Win Today at 11:22 am

» Banking Sector (3Q 2024)
by SL-INVESTOR Tue Dec 03, 2024 10:09 pm

» PALM Stock Update: Ready to Break Out!
by Anura-K Fri Nov 29, 2024 5:40 pm

» Renewable Energy Companies (1H 2024)
by God Father Thu Nov 28, 2024 8:56 pm

» Crypto , Digital Currency Trading , Forex
by KavinduTM Thu Nov 28, 2024 5:52 pm

» Browns Investments PLC (BIL): Net Loss masked by One-off gains from Acquisitions
by mafasmunaseer Fri Nov 22, 2024 1:56 am

» Hotel Sigiriya (HSIG) most undervalued & huge profit making Hotel
by Chalitha Tharanga Tue Nov 19, 2024 6:44 pm

» Mahaweli Reach Hotels (MRH.N)
by Chalitha Tharanga Tue Nov 19, 2024 6:41 pm

» CSE to turn bullish after November 14 poll
by Rare Tue Nov 19, 2024 10:13 am

» ලාභ විජ්ජාව!!
by D.G.Dayaratne Mon Nov 18, 2024 8:11 pm

» ‘Buy the Rumour, Sell the News’
by God Father Sat Nov 16, 2024 12:00 pm

» Asian stocks drift higher amid rate cut speculation; Japan lags
by Rare Sat Nov 16, 2024 9:56 am

» Oil prices fall further
by Rare Sat Nov 16, 2024 9:40 am

» Post-election winners.
by Rare Sat Nov 16, 2024 9:36 am

» Bullish about a sustainable turnaround - CSE Chairman
by Rare Sat Nov 16, 2024 9:25 am

» COMMERCIAL BANK OF CEYLON PLC (COMB.N0000)
by EPS Thu Nov 14, 2024 10:31 pm

» People's leasing VS Singer Finance IPO Analysis
by ddrperera Wed Nov 13, 2024 8:18 pm

» Insights into LOLC Advanced Technologies
by samaritan Wed Nov 13, 2024 10:41 am

» LOLC Tech's ambitious plans for global expansion
by samaritan Tue Nov 12, 2024 2:06 pm

» PLANTATION SECTOR
by God Father Sun Nov 10, 2024 8:19 pm

» People's leasing company, a hidden gem? (an analysis)
by Nandana Withanage Sun Nov 10, 2024 6:56 pm

» PEOPLE'S LEASING BUYING SIGNAL Target Price 19 ..PLEASE KEEP EYE ON THIS..
by nilantha suranga Sun Nov 10, 2024 9:16 am

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube


You are not connected. Please login or register

Bank should disclose to CSE: A Nations Trust Bank Branch Manager had fraud-ed over Rs.600 million and has escaped

3 posters

Go down  Message [Page 1 of 1]

Business Basil


Manager - Equity Analytics
Manager - Equity Analytics

According to insiders of the Nations Trust Bank, A Branch Manager at Nations Trust Bank has fraud-ed over Rs.600 million to the bank and has escaped. The Bank should immediately disclose it to the Colombo Stock Exchange and carry out a proper investigation.

ronstyn


Equity Analytic
Equity Analytic

Business Basil wrote:According to insiders of the Nations Trust Bank, A Branch Manager at Nations Trust Bank has fraud-ed over Rs.600 million to the bank and has escaped. The Bank should immediately disclose it to the Colombo Stock Exchange and carry out a proper investigation.

This was in their last report 31st March 2015.


"(5) A one off impairment of Rs 365 Mn has been provided against lending to some customers at two of our branches which has been made against security
that has been fraudulently provided. Whilst every effort is being made to recover these sums , as a matter of prudence, a 100% impairment charge has been
made".

If this is something new, looks like they have weak controls. If I remember correctly many years back they had a serious problem in their foreign currency unit and lost about Rs800 million, resulting in the then CEO and deputy having to quit.

stocksira

stocksira
Manager - Equity Analytics
Manager - Equity Analytics

Yes They have very weak controls. I worked their for a very short period some time back.

They even had a AMEX Credit card fraud and then DGM - IT or CIO - Chief Information officer has to go. That loss was around 500 Million. 

Main problem is they have a non baker in the position Chief Operating Officer since 2004. He was a friend of former CIO. He came from USA worked in a very low position in USA Supermarket chain. All friends and relatives.

Now former sacked deputy CEO of NTB due to 900 million forex scandal is a director of Softlogic Finance and Chief Forex Dealer at that time is CEO of First Capital. Now can you see who running what ? Smile

Sponsored content



Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum