Deutsche Bank signs collection deal in Sri Lanka

Sampath Bank will act as cash and cheque collection agent for the German bank''s cash management customers.

Deutsche Bank has signed a partnership agreement with Sampath Bank in Sri Lanka, increasing its cash management coverage in South Asia.

The deal will see Sampath Bank, which has 64 branches located throughout the country, act as a cash and cheque collection agent through its branches but also through its online banking system. At the same time, Sampath Bank will extend financing facilities to the dealers and distributors of Deutsche Bank's customers to improve working capital management in the country.

The agreement is designed to speed up the turnaround time for cheque clearing and cashcheque pick up and also to improve the visibility of transactions. Information on collections made by...

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