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LOLC only one bidder for Seylan Bank

Only Lanka Orient Leasing Co. PLC, the pioneer in Sri Lanka’s leasing industry, has submitted a bid to become a strategic partner of the Seylan Bank, authoritative official sources said yesterday.

The Central Bank, in an official release, did not identify the bidder but said `` in response to the invitation for fresh bids by the Central Bank of Sri Lanka to be a strategic partner of Seylan Bank PLC, one bid has been received.

``The Committee for Evaluation of Bids on Seylan Bank PLC is currently in the process of evaluating such bid. The Monetary Board is expected to make the final decision by June 16, 2009.’’

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