Encouraged by the growing demand, the Bank of Ceylon’s (BOC) Business Revival and Rehabilitation (BRR) department expanded its operations to all provinces furthering its assistance to local business organizations to come back to life from pandemic hit. Opening ceremonies of regional BRR Units took place recently in respective province offices situated in Nugegoda, Anuradhapura, Kandy, Polonnaruwa and Trincomaleewith the patronage of the Bank’s Additional General Manager Mr. Russel Fonseka, the Bank’s DGM Recovery Provinces and Business Revival and Rehabilitation Unit (BRRU) Mr. M.R.N. Rohana Kumara and fellow members of the Corporate Management. AGM, BRR Unit, N. Krishnakumar, Provincial Assistant General Managers and other officials also participated for these occasions.
With the guidance of the Bank’s Chairman Kanchana Ratwatte, the Board of Directors and the General Manager K.E.D. Sumanasiri, Deputy General Manager Recovery Provinces and BRR Unit M.R.N. Rohana Kumara mapped the novel concept of “Business Revival” to uplift SME and Corporate customers who had defaulted on facilities due to genuine operational issues. Followedby some very successful pilot projects the specialized unit “Business Revival and Rehabilitation Unit” was set up in the latter part of the year 2020.
The new establishment has come a long way since then, facilitating and re-establishing the “entrepreneurial strength” in the country and it has now expanded to over 14 regional units across the country.
In the face of Covid pandemic mercilessly inhibiting the economies around the world, Many Sri Lankan businesses too were devastated with operations haltered, supply chain and distribution channels crippled and customer demand turned down. The effect went trickling down to loss of employment and a decent income for many households.
Driven with the responsibility towards the Sri Lankan community, the Bank of Ceylonimprovised their existing strategies to be more adoptive the new situation. BOC’s objective was to infuse synergy to these businesses to revive and sustain its operations and profitability in the longer-run even under challenging situations.
The Bank promises to strive towards the betterment of the country in the truest sense of being “Banker’s to the Nation”.