Central Bank takes steps after HNB customer info leak
July 24, 2017 (LBO) – Sri Lanka’s Central Bank has conducted a preliminary investigation into a leakage of information of more than 4,000 customers …
Banking and Finance
10 Sri Lankan Finance Companies ratings affirmed : Fitch
July 24, 2017 (LBO) – Fitch Ratings, a credit ratings agency, has affirmed the long-term issuer default ratings (IDRs) of ten local finance companies, …
Sri Lanka’s economy to bounce back in 2017 and accelerate in 2018: IMF
July 24, 2017 (LBO) – The International Monetary Fund (IMF) forecasts Sri Lankan economy to rebound in 2017 and accelerate in 2018, despite the lower …
Commercial Bank, Sampath Bank offer real-time Customs payments
July 25, 2017 (LBO) – Commercial Bank of Ceylon PLC and Sampath Bank PLC together have announced the introduction of real-time, online payments to Sri …
HNB rights issue will boost capital, credit positive: Moody’s
July 11, 2017 (LBO) – Hatton National Bank’s rights issue will boost their capital buffer well above the Basel III requirements that took effect in Sri …
HNB Rights issue approved by shareholders at the EGM
(PRESS RELEASE) -The Extra Ordinary General Meeting(EGM) held by Hatton National Bank PLC with regard to the issuance of shares by way of a Rights Issue was …
Sampath Bank to raise Rs6bn in listed debt; Deshal resigns
June 30, 2017 (LBO) – Sri Lanka’s Sampath Bank plans to raise as much as 6 billion rupees from a sale of debentures which will be quoted on the Colombo …
CB reminds of obligation to report suspicious transactions
June 29, 2017 (LBO) – Financial Intelligence Unit of the Central Bank requests Designated Non-finance Businesses (DNFBs) to report about suspicious …
Siyapatha Finance to raise Rs1bn in listed debt
June 29, 2017 (LBO) – Sri Lanka’s Siyapatha Finance is planning to raise as much as one billion rupees from a public offer of debentures which will be …
Fairway Holdings acquires Multi Finance
Fairway Holdings, a rapidly diversifying conglomerate, recently acquired Multi Finance PLC under its umbrella with a view to giving this erstwhile financial …
IB Growth Fund to increase share in Amana Bank through Rights Issue
June 23, 2017 (LBO) – Jeddah-based IDB Group’s IB Growth Fund (Labuan) LLP has acquired 1,000 shares in Amana Bank, Thursday at 3.70 rupees each …
Fitch expects more interest rate pressure for Sri Lankan corporates
June 20, 2017 (LBO) – Fitch Ratings says it expects rising domestic interest rates to hurt Sri Lankan corporates over the next 12 months. Releasing a …
Commercial Bank leads Sri Lanka’s SME financing in 2016
June 15, 2017 (LBO) – Sri Lanka’s SME sector has been injected with 719 billion rupees by both state and private sector banks in 2016, with Commercial Bank …
DFCC subscribes to Commercial Bank rights issue in full
June 14, 2017 (LBO) – Sri Lanka’s DFCC bank on Tuesday said it subscribed to the recent rights issue of Commercial Bank in full. DFCC said in a stock …
DFCC introduces Oracle budgeting cloud service, 1st time in ASEAN region
DFCC Bank and Synapsys along with their partner Oracle recently launched the Oracle Planning and Budgeting Cloud Service together with a Customer Profitability …
Sri Lankan banks likely to come under capital pressure from Basel III: Fitch
Jun 07, 2017 (LBO) – Sri Lankan banks are likely to come under increased capital pressure from Basel III-related requirements, Fitch Ratings said in a …
Sri Lanka cabinet approves Rs5bn capital infusion to People’s Bank
June 07, 2017 (LBO) – Sri Lanka’s cabinet has approved a proposal to infuse 5 billion rupees to state-owned People’s Bank in order to comply with new …
Saudi Fund for Development to provide credit for Sri Lankan importers
Jun 07, 2017 (LBO) – The Saudi Fund for Development is looking to provide credit facilities for Sri Lankan firms to import raw materials from Saudi …
LOLC records historic profit before tax of Rs24bn
Sustaining its unblemished track record, LOLC Group concluded an excellent year sealed by its strongest financial performance to date. For the year ended 31st …
New entrants to apartment development industry will face difficulties: Developer
May 29, 2017 (LBO) – Sri Lanka’s newer entrants into the apartment development industry will find it difficult to compete with established players …