Bank of Ceylon has written Rs. 1,169 million in total lending capital in the year 2017 representing 12,014 customers of the Bank, recent government audit inspection revealed.
Interest related to the outstanding amount was Rs. 830 million. Capital written off and interest wave off had been increased by huge percentages of 2,387 and 756 percent compared with the previous year.
Out of the above Capital written off amount, a sum of Rs. 936 million is related to 8358 numbers of loans had been granted by Northern Provincial Branches such as Atchchuvely, Chunnakam and Kilinochchi..
Those loans had been granted to refugees in IDP camps after the war in 2009 as housing loans, selfemployment loans, agriculture loans and even consumption loans. When granting above loans proper identifications, verification of addresses and other usual credit checks, etc. had not been carried out by the Bank.
Meanwhile the Board of Directors (BOD) of the Bank had granted approval to recruit six hundred Trainee Staff Assistants in May 2015.
Recruitment process had taken a long period of more than three years. Without approving the exact Scheme Of Recruitment(SOR), a practice of the Bank is getting board approvals regarding the basis and methods of recruitments at each point of recruitment.
In above recruitment process Bank had changed the number of vacancies time to time in the board meetings from 600 to 1500.
However, without shortlisting of candidates who passed from the competitive examination, the bank has interviewed 11,520 candidates for recruitments of 1800 employees under the interview ratio of 1: 6.5.
The Bank has spent Rs.4.10 million as sitting allowance for the members of interview panels and Rs.3.39 million as other expenses, audit inspection revealed.
(LI)