Category: Banking and Finance
‘ComBank Digital’ links Dept. of Commerce for online payments with LankaPay
The Commercial Bank of Ceylon has announced the integration of the Department of Commerce (DOC) with ‘ComBank Digital’ enabling online payments for services via LankaPay. As a result, businesses or individuals can now make secure real-time online payments for services such as registration of exporters, issuance of certificates of origin and other facilities offered by […]
ComBank appoints new Chairman and Deputy Chairman
Commercial Bank of Ceylon PLC has announced the appointment of top international investment banker Mr Sharhan Muhseen as Chairman, and financial services professional Mr Raja Senanayake as Deputy Chairman, effective Monday, 22ndApril 2024. Mr Muhseen, previously Deputy Chairman of the Bank, succeeds Prof. Ananda Jayawardane as Chairman upon the latter’s retirement, and Mr Senanayake, a […]
ComBank breaks new ground in Sri Lanka enabling Alipay QR payments for merchants
The Commercial Bank of Ceylon has opened up a world of new opportunities for Sri Lankan businesses, by becoming the first bank in Sri Lanka to enable Alipay QR Code payments under unified Lanka QR. Alipay e-wallet holders, currently numbering over 1 billion, can now scan the Commercial Bank LankaPay unified QR code issued to […]
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Fitch Ratings has assigned Hatton National Bank PLC’s (HNB, A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR12 billion an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’. The proposed debentures, which will have maturities of five, seven and 10 years, will be listed on the Colombo Stock Exchange. The bank plans to […]
CBSL strengthens Business Revival Units in Banks to Support Revival of Businesses
The Central Bank of Sri Lanka issued broad guidelines to licensed banks on 28 March 2024, to further strengthen the functions of already established Post COVID-19 Revival Units and reformulate such units as Business Revival Units (BRUs). The enhanced scope of proposed BRUs will facilitate sustainable revival of viable businesses affected by the extraordinary macroeconomic […]
ComBank partners with IFC to develop Supply Chain Financing strategy
The Commercial Bank of Ceylon has announced a collaboration with the International Finance Corporation (IFC) to build a Supply Chain Financing (SCF) strategy that will enable the Bank to lend more to Small and Medium Enterprises (SMEs) and establish itself as a leading SCF bank in Sri Lanka. IFC has identified Commercial Bank as a […]
Sri Lankan Microfinance Bank LOLC opens new branch in Islamabad
The LOLC Microfinance Bank inaugurated its latest branch in the Blue Area of Islamabad. The High Commissioner of Sri Lanka to Pakistan Admiral Ravindra C. Wijegunaratne graced the opening ceremony as the Chief Guest on 22 March 2024. Addressing the gathering, the High Commissioner emphasized the significance of promoting financial inclusion and acknowledged the pivotal […]
Union Bank unveils bold new logo in sync with new transformational phase
Union Bank, now partnered by the strength of the global conglomerate CG Corp Global, recently unveiled a new logo that embodies the Bank’s new strategic vision and transformation. Leveraging on the brand’s rich history of over 29 years as a trusted financial services brand in Sri Lanka, the new logo has been designed as an […]
Brantel appointed Partner and Reseller of global networking giant Cisco
Brantel Lanka (Pvt) Ltd., has announced the Company’s appointment as a Partner and Authorised Reseller in Sri Lanka for Cisco Networks, the global leader in networking hardware, software and services. The Company said its primary role as a Cisco Partner would be to help build the online presence, and automate the business processes, of small […]
Union Bank appoints Dinesh Weerakkody to the Board
The Board of Directors of Union Bank of Colombo PLC announced the appointment of Dinesh Weerakkody a distinguished banker and financial advisor with vast experience as an Independent Non-executive Director, with effect from 01 April 2024. Dinesh Weerakkody is a former Chairman of Hatton National Bank PLC and Commercial Bank of Ceylon PLC and a […]
FitsAir Launches Direct Flights from Colombo to Dhaka, Bangladesh
FitsAir, Sri Lanka’s low-cost airline, is pleased to announce the launch of direct flights connecting Colombo and Dhaka, Bangladesh in April 2024. This move represents a significant milestone in regional aviation, addressing the growing demand for affordable travel options between Sri Lanka and Bangladesh. In light of Bangladesh’s rapidly expanding economy, attracting considerable interest from […]
Commercial Bank integrates an AI-powered Assistant to their Annual Report 2023
March 5, 2024, will go down as a red-letter day for the world’s investor relations community. On this day, Commercial Bank of Ceylon PLC, headquartered in Sri Lanka, integrated an AI-powered Annual Report Assistant (AIPARA) to their Annual Report 2023. It is probably the first of its kind. This innovation addresses a perennial issue and […]