Private financial
institutions overtaking state banks - Amunugama

By Cyril Wimalasurendre

KANDY: Private financial institutions were surpassing the business of state banks as they are more courteous and flexible towards their customer community, said Dr. Sarath Amunugama, Senior Minister and Deputy Finance Minister.

Speaking at the opening the seventh branch of George Stewart Finance, at Kandy City Centre, he said finance institutions have turned out to be an important factor in the economic development of the country.

Dr. Amunugama that friendship and flexibility towards customers help popularity of any financial institution to attract more customers for mutual development.

The state banks should give serious thought to these important factors, Dr. Amunugama noted.

He said, for economic development there are three important supportive factors. They are the banks, the finance institutions and capital market. All three factors must be developed. The responsibility of a lending agency should not only be able to provide financial assistance but also should give the client the necessary advice and guidance to make his investment fruitful. In corporate and financial agencies modern facilities were available to continue mutual relationship with the customer. The customer should be able to receive assistance by a mere telephone call.

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