State banks profits have plunged: UNP MP Harsha

In response to the story on Bank of Ceylon profits published in the Daily FT yesterday based on a statement released by the bank, UNP MP Dr. Harsha de Silva issued the following statement:

“Your story that Bank of Ceylon has made Rs. 15.7 billion profit before tax which is the highest among its peers for last year. While that may be true, what was conspicuously absent in your story is the significant decline in profits and the alarming rise in non-performing loans. The story is similar at People’s Bank as well. Profits have slumped and credit losses have mounted.

“We note with concern that Bank of Ceylon’s profits before tax for 2013 has fallen sharply by 20.6% from Rs. 19.8 billion in 2012.
At People’s Bank pre-tax profits have fallen by 32.4% to Rs. 10.3 billion in 2013 from Rs. 15.2 billion a year earlier.

“Of equal and even greater concern is the significant increase in non-performing loans in both banks. The two State banks’ loan loss provisions have more than doubled from under Rs. 10 billion in 2012 to more than Rs. 20 billion in 2013. While it is known that both banks took a hit on their pawning business, they must ensure that loans to various Government agencies are made after careful review and ability to repay. This factor is becoming important in the background that it is understood that State banks are being compelled to lend to various ego-boosting projects of the Government.

“In its latest statement Bank of Ceylon has taken credit for lending to the Government for 368 km of road development without specifying the amount lent and billions to other infrastructure projects in the power and water sectors. Perhaps the story at People’s Bank could be similar or even worse, we do not know.
“As a responsible Opposition, the UNP would like to urge the Boards of the two State banks to be very mindful in making their lending decisions, particularly to various Government projects with repayment uncertainty, in this rather negative scenario where credit losses are mounting and profits are slumping.”

http://www.ft.lk/2014/04/05/state-banks-profits-have-plunged-unp-mp-harsha/

It might be a matter of time for Commercial bank to beat those two giants and become number 1.

Timely advice by Dr Harsha Silva

Deegoda Gamage wrote:Timely advice by Dr Harsha Silva

During UNP time it was much worst .......  

Do people care ?
(Ignorance is Bliss).  

I agree with you

Any way Harsha Siva was not there

In order get into power either Harsha is bluffing or He is saying People who voted this time for UPFA are Fools   

This Idiot should chase his Master 1st, Then people will listen to him ....Including me   

"Aney Ranil Sajithta himi thena denna; Ravita Karunawen Salakanna"
April 7, 2014, 8:35 pm

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(Oh!Ranil please give the due place to Sajith and treat Ravi with tender loving care) —Prakash Butani

Prakash thundered and continued is banter "Be more careful of your closest friend Raviya. [Ravi Karunaratne was sitting by his side] because even if you escape the ‘Le Mapilas’ and ‘Polangas’, Raviya is going to introduce a female ‘Anaconda’ into your fish tank. Female Anacondas are famous for devouring their loved ones. One day Raviya hopes that, if you do not give up the leadership position, the Anaconda will swallow you and then the UNP will be safe. See what he is doing? He has put up 02 bus stands and then he has put up photographs of Ravi Karunanayake on the stands. He should have put up your picture instead. All of you are blaming Rajapaksa for putting up his photograph near the entrance to the highways.

If the Rajapaksas emulated Ravi Karunanayake, then the whole country would have been a Rajapaksa portrait jungle, because he has built so many bus stands.

"Yes he should have put up my picture instead" said Ranil jokingly. Then said Prakash Butani, "There you are, I got it from the horse’s mouth. Now we know who telephoned Muzammil, the Mayor of Colombo, to destroy the bus stands which had Raviya’s photograph!"

See his Excellency the President, he has built not only bus stands, but roads, highways, expressways and what not. But when you were in power for two (02) years, you could not even build a ‘pathway’. See his (President’s) image is going up up." Ranil said, ‘There is a saying that whatever goes up must come down."

Prakash said, "Unfortunately nothing about Ranil is going up, only you are going down and down; We are waiting for the day that you will go up and grow up. Now Ranil, tell me, we have been like ‘Waiting for Godot’, waiting for you to win the elections, when are you going do that? We are waiting for the day that you will go up and grow up."

Ranil Wickremasinge "In the year 2015".

Prakash Butani, "I hereby announce to the Stallions in this tent that in the year 2015 Ranil Wickremasinghe will be the President of this country. If not, by consensus, we will not permit him to enter into the Stallions, he could go to the old codgers tent, The Mustangs".

Ranil laughed. Just then came Harsha de Silva. Straight away, Prakash Butani commented, "here comes the ‘financial advisor and rope giver to Ranil’. Thereafter, walks in Ravi Wijeratne. Comments Prakash, "We all know that Harsha de Silva had been very critical of the casinos that James Packer wants to establish in conjunction with Ravi Wijeratne. Now Harsha, say what you have say about the casinos to Ravi’s face." Harsha embraced Ravi and hugged him. Then said Prakash, "here only in the Stallions’ tent that we see the financial advisor of Ranil hugging the Casino King. Now, when the casinos are established, you will all know who would be the financial advisor.

Sajith was strumming the guitar and singing his favourite song ‘bella Kapilla’. Prakash Butani, heard this and shouted at Ranil, "Ranil, why don’t you give these poor chaps their due place?" referring to Sajith Premadasa and Ravi Karunanayake. "See, one is singing – ‘Aney Sir, mata himi thena denna’ (please give me my due place), and the other is singing – ‘Aney Sir, mata salakanna (Please treat me kindly)".

Then Ranil quipped, "No, no, I will not consider anyone of them, I have found another person." Asked Prakash, "Who is that Ranil? Said Ranil, "Who else other than you Prakash? The entire tent laughed at Ranil’s wit. For the first time, Prakash Butani was silent as if he had gulped down and was chocking on an Anaconda. The whole tent was reeling with laughter at the extraordinary wit and repartee of Ranil Wickremasinghe, which had made Prakash Butani silent for a while. Then, Prakash took the microphone and started singing, in his baritone voice, "Yana Rata Vate, Enna Ma Priye, Lassana Sri Lankave" with Ranil, Sajith, Ravi and Gayantha and Harsha joining him. As soon as they finished singing, Prakash took the mike and said,

"Ranil, you put a real thoppi to my dear friend Karu no? First of all you got Karu to sponsor Paba and Paba became a Baba and ousted Karu to 4th place. Thereafter, you took poor Karu and separated him from Sajith and brought him into the Leadership Council. Karu knew there was a catch in it but he could not fathom as to what it was. The very same day, he thought and thought until he had no answer. His resistance to Germs was at an all time low and a Dengue Maduruwa sensed this and bit him. He got dengue and now everyone is calling him "Dengue Karu and see what you did to Ravi?" The man who thought he could lead the UNP to victory. You feigned a fight with Killi Maharajah and gave nominations to one Marikkar a loyal Golaya of Killi and Ravi lost his bearings and was so frightened that the Sinhala Marikkar would get in and oust him, so he resigned from the Leadership Council."

"Hey Ranil!, the whole country knows that you are ‘ARROGANT like CAMERON’ and that you do not recognize people and you look through them as if they are made out of glass. The only way for you to win an election and fulfill your promise, given to us today, is to attract people. With all your idiosyncrasies, you could do this only by having a more powerful Talisman than the Korean Talisman President Rajapaksa has. But his Talisman won’t suit you. As it is conical in shape you ought to get a Tibetan Talisman which suits you more as it is a small ball made out of gold. We all know your are very fond of squeezing round spherical objects, more than conical objects. You can continue to have it in your hand and squeeze it with relish whenever you are addressing a meeting or people. I am sure if you go to the correct Tibetan Lama, even President Rajapaksa will be at your feet".