Financial sector regulators sign MoU for consolidated risk-based supervision
Jan 04, 2019 (LBO) – The Central Bank of Sri Lanka (CBSL) entered into a Memorandum of Understanding (MoU) with the Securities and Exchange Commission …
Banking and Finance
Fitch rates Seylan Bank’s Basel III sub debt BBB+(lka)(EXP)
Jan 04, 2019 (LBO) – Fitch Ratings has assigned Seylan Bank’s proposed Basel III compliant subordinated debentures an expected National Long-Term …
LRT project to kick start in 2019 : Cabinet nod for Japanese aid of USD1850Mn
Jan 04, 2019 (LBO) – Sri Lanka’s Finance Ministry says that cabinet approval has been received to go ahead with US 1850 million dollar loan …
MBSL announces changes in MIDCAP with year-end index rebalance
In a pioneering move, Merchant Bank of Sri Lanka & Finance PLC (MBSL) constructed a Stock market Index: the “MBSL MIDCAP Index”, which measures …
Fitch Rates Sampath Bank’s Basel III Sub Debt ‘A(lka)(EXP)’
Jan 02, 2019 (LBO) – Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Stable) proposed Basel III compliant subordinated debentures an …
Sri Lanka’s Commercial Bank to raise Rs15bn through listed debenture
Dec 20, 2018 (LBO) – Sri Lanka’s listed Commercial Bank plans to raise as much as 15 billion rupees from an issue of debentures which will be quoted on the …
Gihan Cooray appointed Chairman of Nations Trust Bank
Dec 13, 2018 (LBO) – Nations Trust Bank PLC has announced the appointment of Gihan Cooray as Chairman of the Board of Directors, with effect from …
Sampath Bank Ranked One of Country’s Top Ten Corporate Citizens
(PRESS RELEASE) Also Wins Category Award for Governance at Best Corporate Citizen Sustainability Award 2018 Sampath Bank was recognized as one of Sri Lanka’s …
Sri Lanka’s macro economic conditions stable, Fiscal discipline required: CB Gov
Dec 06, 2018 (LBO) – Central Bank Governor Dr. Indrajit Coomaraswamy says that the islands debt situation is manageable and that no major destruction to …
Fitch downgrades Sri Lanka financial institutions on sovereign downgrade
Dec 05, 2018 (LBO) – Fitch Ratings has downgraded the Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of the following Sri Lanka-based …
Sri Lanka Insurance gets new Chief and board
Nov 30, 2018 (LBO) – A new Chairman and board of Directors has been appointed to the Sri Lanka Insurance corporation with effect form 29 November 2018. …
Xiaomi officially enters the Sri Lanka market
Nov 30, 2018 (LBO) – New and innovative Chinese smartphone Xiaomi today announced its official entry into the Sri Lankan market to strengthen its …
Non Executive Directors appointed to Bank of Ceylon Board
Nov 27, 2018 (LBO) – Bank of Ceylon said in a stock exchange filing that the Finance Minister has appointed new Non-Executive Directors to the Board of Bank …
New Chairperson of People’s Bank, Sujatha Cooray assumes duties
The newly appointed Chairperson of People’s Bank, Sujatha Cooray, a senior public servant, assumed duties at the Head office of People’s Bank on November …
Sri Lanka rupee hits new low of Rs.180: Stocks down 0.34-pct
Nov 23, 2018 (LBO) – The Sri Lanka rupee dropped to a low of 180.66 against the US dollar following a political crisis, which began a month earlier in …
Moody’s downgrades ratings of BOC, HNB, Sampath Bank; changes outlooks to stable
Nov 21, 2018 (LBO) – Moody’s Investors Service has downgraded the long-term local currency deposit and foreign currency issuer ratings of Bank of …
Sri Lanka’s political crisis puts IMF loan negotiations on hold
Nov 21, 2018 (LBO) – The International Monetary Fund (IMF) loan facility to Sri Lanka, approved in mid-2016, has been put on hold due to the islands …
Neil Umagiliya assumes duties as Bank of Ceylon’s new Chairman
Nov 20, 2018 (LBO) – N.A. Umagiliya was appointed as the Chairman, Bank of Ceylon and assumed office on Monday 19th November 2018 as the 25th Chairman of …
ComBank allows credit cardholders to settle balances with any debit/credit card
The Commercial Bank of Ceylon has introduced another first in online banking in Sri Lanka, making it possible for the Bank’s Credit Card holders to settle …
Finance Ministry says Asite Talwatte appointed as a Director of NSB
Asite Talwatte, a top professional and a veteran in the Corporate world has been appointed to the Board of National Savings Bank by the Minister of Finance and …