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COVID 19 vs Banking & Finance...

 How COVID 19 Affected to Banking & Finance Sector.       "Follow up"


When it comes to corona is a not just an enemy to a one side it destroyed lot of sides, fields in globally. The banking and finance sector is like brain of a human body, because this is a cycle and it that brain can continue this cycle. For example, if you think about bicycle chain, is there no any issues and damages the chain rotating perfectly and bike ride forward. But unfortunately, some of connector might be attacked some reason the chain rotates perfectly also bike cake ride forward. So, we can think like that, if we approach that example for our status, we can explain it like this, overall chain builds with the help of those kind of factors so the corona virus hit that chain and totally cover the chain by virus, also banking and finance sector so total chain can't move and country can't go forward therefore I hope to explain how it happens briefly.

In my opinion the COVID 19 pandemic situation impact very badly and also, we can say it can be some favorable situations are there. because we all know if something is badly and we can turn it too favorable. When it comes to harmful impacts of COVID 19 we can say, 

▪Damage very hardly, relationship between customers and banks because under pandemic situations government take many curfew situations and limited open country. 

▪ Previously say the damaged the relationship and therefore customer didn’t and won’t and transactions for the example, deposits taking loans and other helping and coordinating services from bank then so that situation are some bad situations. 

▪And also, the people who taken loans from banks they couldn’t repay it because of this situation. Because some of them missed their jobs, and some of them missed their relatives and family members because of virus and the missed their financial strength and ability. So, this reason bank faces some huge trouble but this is a human and kindly issue, not in an only onside issue also banks are already in trouble how the covered them those loan payments and other income sources.in a nutshell we can say current bank income levels are some lower than before pandemic situations. 

▪ Because of those bank wise problems finally pushed on Sri Lankan economical system. That’s why we say this situation is a not only small problem. 

▪ In widely all the banks can’t reach their income levels Sri Lankan economy is in some issues because the banks are parties of issuing and creating money process, but in this situation it can’t. so, government need to take loans from other foreign countries but it needs to some limit if isn’t government may be trapped in loan trap. Already government trapped it, because bad political decisions and leaderships.

▪ And when the scarcity of income sources of bank sector, it directly impacts to financial stability of country. Then inflation rates, GDP levels, budget levels are missed. So, when it considers about this situation if there some small unrelated issue also can damage financial and stability system. 

▪ And when we consider from people’s the bank employees are in some health critical situation. Because the government published the banking service is essential so in pandemic situation, they need to work with people also their mental stability. 

▪ In this case we can say some opposite favorable view in banking sector under pandemic situation it is the curfew situations and limited open country situation can keep the people in their houses as a result people adjust to online banking system. So that’s a new for Sri Lankan but it expands widely. So, it’s some favorable for banking sector from many ways.





-N.K. Sanduwan Nanayakkara-
































Location: Bandaragama, Sri Lanka

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