The Bank of Ceylon - Sri Lanka's largest commercial bank - is to focus more attention on offshore banking to enhance its foreign currency base. Chairman of the BoC, Gamini Wickramasinghe said that every bank struggles to strengthen their foreign currency base through foreign remittances from migrant workers. It is important to focus on offshore banking to attract more foreign remittances to the bank. Bank has several foreign branches - in UK, Male and India. These branches are catering to the Sri Lankans in those respective countries and such banking services needed to be expanded to foreigners. Bank needs to offer attractive interest rates as well. It is also necessary to strengthen our international recognition to expand our banking operations, Mr Wickramasinghe added. He said that a large amount of foreign remittances flow out of the local banking system through informal methods of remitting funds. Bank implemented few programmes to attract these informal remittances. "We have appointed our representatives in potential markets. Now bank has increased the set targets for foreign remittances to the bank this year. We have noticed that more investors now invest in banks than in the capital market due to assurance of the return on investments. However, this depends on the confidence of the specific investor," he said.