As the Golden Key Credit Card crisis grew, Ceylinco Consolidated Chairman Lalith Kotelawala -- in an unexpected move -- yesterday announced he was divesting the stake of his Ceylinco Group in Seylan Bank, saying he needed the money to settle depositors at the crisis-hit credit card company. The move came amidst concerns from the Central Bank where officials were worried about the impact on deposits at the Seylan Bank, founded two decades ago by Mr. Kotelawala, a powerful and politically-influential businessman. Seylan Bank CEO Ajitha Pasqual confirmed the Ceylinco Group was exiting and selling off all its interests in Seylan....... |