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Senior banker Aswin de Silva steps down as NSB Chairman

Aswin de Silva has resigned from the post of Chairman of the state-owned National Savings Bank (NSB) on Monday,Mr de Silva confirmed .

Mr. de Silva is a senior banker with more than 20 years of experience at American Express- Asia. He is FCA, FCMA and FCPA (Australia)-qualified.

As at last year, NSB saw record profitability at Rs. 14 billion. It has a Rs. 1 trillion asset base with a growth 28 per cent in the last three years. NSB also saw the lowest non performing loans in the industry at 1.4 per cent last year.

Under the Chairman ship Mr .Aswin de Silva the National Savings Bank has recently raised a US$ 100 million loan facility supported by Commerzbank AG.The excellent relationship that NSB enjoys with its banking partners has allowed NSB access to a competitive interest rate despite the current global trend of interest rate increases.

The facility was arranged jointly by Dubai based Alpen Capital (ME) Limited and NDB Investment Bank of Sri Lanka. The funds were required as part repayment of US$ 750 million which NSB borrowed from international markets in 2013 through an international bond issuance.

(LI NEWS)

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