https://economynext.com/banks-in-sr...ds-profit-repatriation-curb-ads-travel-78057/
""ECONOMYNEXT – Banks in Sri Lanka have been ordered to delay dividends and foreign banks profit to halt profit repatriation until the 2020 accounts have been audited, and cut some spending in a bid to conserve capital and liquidity.
Banks have also been asked as far as possible to cut spending on advertising, training, business promotions, gift schemes, entertainment, sponsorship and traveling, until June 2021 and be careful in capital expenditure.
Banks have also been ordered not to buyback shares, stop raising salaries of executives and directors until June 2021""
Future looks bad for Sri Lankan Banks
""ECONOMYNEXT – Banks in Sri Lanka have been ordered to delay dividends and foreign banks profit to halt profit repatriation until the 2020 accounts have been audited, and cut some spending in a bid to conserve capital and liquidity.
Banks have also been asked as far as possible to cut spending on advertising, training, business promotions, gift schemes, entertainment, sponsorship and traveling, until June 2021 and be careful in capital expenditure.
Banks have also been ordered not to buyback shares, stop raising salaries of executives and directors until June 2021""
Future looks bad for Sri Lankan Banks
