The Sri Lanka Banks Association states that government intervention is essential to encourage the debt recovery process of commercial level banks.
The Sri Lanka Banks Association says that the gross value of loans given by banks as of March 31st is 10.8 trillion rupees and the value of concessions and restructuring is over two trillion rupees.
The association states that due to the economic crisis and the Covid pandemic, some individuals and businesses have been unable to repay their loans and it is not fair to prioritize the needs of the borrowers, regardless of the progress of the depositors who have lent money.
