Minister Sunil Handunneththi drew an analogy between debt collection and personal relationships, stating that banks often forget the past contributions of borrowers when financial difficulties arise.
The Industries Minister was addressing an event organized by the Regional Development Bank.
“Debt can be like certain girls,” quipped Minister Handunnetti, drawing a comparison between bad debt and what he described as the behaviour of certain women. He claimed that banks often forget the good deeds of their customers, much like how, in his analogy, past kindnesses are overlooked.
“Bank officials must not take offence,” he said. “Not all banks behave this way, but when a customer faces difficulty, banks often bring up historical data, letters, and past commitments, disregarding earlier repayments, deposits, and sacrifices.”
The Minister said the situation was comparable to certain personal relationships, where previous goodwill is overlooked, and threats or ultimatums follow. “March 31 is a day like that,” he added, referencing fears among borrowers of asset seizures.
Handunneththi stressed the need for strong relationships between banks and borrowers, likening it to a long-term commitment: “If the connection is there, it can be permanent.”
Highlighting the ongoing debt challenges, particularly for small and medium enterprises (SMEs) following the COVID-19 pandemic and economic crisis, the Minister said the government has recognized these issues and initiated discussions with banks to explore solutions.
He urged struggling enterprises to begin talks with banks immediately. “If we fail to reach agreements even after December, the banks will also be compelled to make decisions,” he said. (Newswire)
“Debt can be like certain girls,” quipped Minister Sunil Handunnetti, drawing a comparison between bad debt and what he described as the behaviour of certain women. He claimed that banks often forget the good deeds of their customers, much like how, in his analogy, past… pic.twitter.com/a8lrhtPecj
— NewsWire (@NewsWireLK) March 28, 2025
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