Third largest local bank enters Mannar
T he a g ro, fisheries and c o t t a g e i ndustry s e c t o r s i n Ma n n a r r e g i o n h ave b e e n boosted by the entry of the S r i L a n k a n d eve l o p m e n t bank with third largest network of bank branches in the country followed by Bank of Ceylon and Peapole’s Bank. S r i L a n k a ’s we l l k n ow n ‘ Re g i o n a l D eve l o p m e n t Bank’, which has a customer base of 3.5 Mn, is also the Sri Lankan bank owning country’s third largest network of branches.
And the Mannar’s Regional Development Bank is expected to boost re gion’s fisheries, cottage and agro sectors, specially at micro levels.
Minister of Industry and Commerce Rishad Bathiudeen, addressing the inauguration, said he requested the RDB to be gin improving the fisheries and ag ro sectors of the re gion as soon as possible, so that the livelihoods people engaged in fisher and a g ro sectors will improve.”
“T h e r e c e n t Div i n e g u ma show held in Mannar clearl y s h o we d p e o p l e ’ s s t r o n g d e s i r e t o e n t e r mi c r o a n d
The recent Divineguma show held in Mannar clearly showed people’s strong desire to enter micro and small industries even at cottage level, despite it being an underdeveloped district with a rural population. I believe that RDB has entered Mannar at the right time
small industries even at cottage level, despite it being an under-developed district with a rural population. I believe that RDB has entered Mannar at the right time.”
“We see synerg y between t h e Re g i o n a l Deve l o p ment Bank and industries in Mannar area. According t o t h e m, 6 7 % o f t h e R D B B a n k ’s l o a n s a r e g ive n t o d eve l o p ment s e c t o r i ncl udi n g s mal l s c a l e I n d u s t r i e s which has a strong presence in Mannar, and about 70% of RDB Bank loans are less than Rs.100,000-the same amount of loans that many businesses in Mannar manage with,” Minister pointed out.