LankaClear clears Rs 6.3 trillion worth of cheques in 2011-12
View(s):LankaClear (Pvt) Ltd cleared cheques worth over Rs 6.3 trillion while reporting a rise in net revenue by 12 per cent and post-tax profit growing by 39 per cent at the end of the latest financial year. Net revenue was Rs. 390 million while post tax profit was Rs. 126 million, according to a company media statement.
The company said that the volume of cheques cleared through Cheque Imaging and Truncation System (CITS) increased by eight per cent compared to the previous financial year whilst the total value of cheques cleared increased by 12 per cent to Rs. 6,335 billion.
Addressing company shareholders at the AGM held recently, LankaClear Chairperson Priyantha Liyanage stated that in 2012 LankaClear completed 10 years of service to the financial sector. She stated that during the last 10 years LankaClear progressed from the National Cheque Clearing House to the National Payment Infrastructure Provider marking a decade of excellence of this unique public private partnership.
She also briefed shareholders on the Common Card and Payment Switch (CCAPS) which is currently under implementation, and stated that the Monetary Board of the Central Bank of Sri Lanka has approved the CCAPS as ‘the National Payment Switch and CCAPS would create the backbone infrastructure for all future electronic payments in the country and would avoid the duplication of infrastructure and bring economies of scale and provide the best benefits to the participating banks’. LankaClear is a company jointly owned by the Central Bank of Sri Lanka and all licensed commercial banks.
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