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Last Updated : 2024-03-28 20:32:00
Pan Asia Banking Corporation recorded the lowest increase during the quarter with Rs.2.68 billion in NPLs, 4% over 2011's figures. According to analysts, hike in interest rates and slow down in economic growth will impact the ability of those who have drawn loans from banks.
Due to the loose monetary policy the country had been following, a lot of bank loans were taken for consumption. In fact, most of the credit went for motor vehicle purchasing, pushing Sri Lanka's private sector credit growth to new heights.
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