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Seylan Bank's troubles started when the Golden Key Credit Card Company, an unregulated firm of the Ceylinco group was unable to repay its customers due to financial instability. [ 6 ] The collapse of the Golden Key Credit Card Company which was a subsidiary of the Ceylinco Consolidated and the mismanagement of funds by the former chairman in ...
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Seylan Bank; Standard Chartered Bank; State Bank of India; Hong Kong and Shanghai Banking Corporation (HSBC) Union Bank of Colombo; Source: Central Bank, March 2021 [1]
The Golden Key Credit Card Company (GKCCC) was a leading Sri Lankan financial institution specializing in credit card services, and a subsidiary of the Ceylinco Consolidated. [2] Founded on June 3, 1977, it was a wholly-owned subsidiary of the Ceylinco Group, an extensive conglomerate with more than 300 subsidiaries.
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