Sri Lanka's new government has named new directors to six private banks in which the government has a stake, prompting concern in the banking sector, reports the SundayTimes.lk.
The six commercial banks consist Hatton National Bank (HNB), Commercial Bank, National Development Bank (NDB), Sampath Bank, DFCC and Seylan Bank.
According to the paper, Sampath Bank, and the Commercial Bank are likely to resist the government's measures.
“We will resist it like how we opposed Harry Jayawardena’s attempted take-over [many years back],” the Sunday Times quoted source close to the founding directors of the Sampath bank as saying.
“These changes are a repeat of the Nivard Cabraal era where the government sought to control private commercial banks. It’s no different,” a senior banker was also quoted as saying.
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