Category: Banking and Finance
High Commissioner attends Opening of LOLC Pakistan’s New Head Office
The High Commissioner of Sri Lanka to Pakistan, Rear Admiral Fred Seneviratne (Retd), attended the inauguration ceremony of the new Head Office of LOLC Microfinance Bank Pakistan, on 06 July 2026 located in Gulberg, Islamabad. The ceremony was attended by the Chairman of LOLC Microfinance Bank Limited, Krishan Thilakaratne, together with members of the senior […]
Sampath Bank Launches Google Pay, Expanding Sri Lanka’s Access to Global Contactless Payments
Sampath Bank PLC has introduced Google Pay for all Mastercard and Visa Credit and Debit Cardholders, marking a significant advancement on how customers in Sri Lanka access digital payment solutions. This initiative brings fast, secure, and globally accepted tap-to-pay functionality to Android devices, catering to the increasing demand for mobile-first solutions. Mobile wallets are reshaping […]
CBSL to Cancel Nation Lanka Finance Licence; Liquidation Process Begins
The Central Bank of Sri Lanka (CBSL) has officially cancelled the finance business licence of Nation Lanka Finance PLC (NLFP) effective today, July 3, 2026, moving forward with a formal winding up of the company. Full Statement The Central Bank of Sri Lanka (CBSL) initiated resolution actions on Nation Lanka Finance PLC (NLFP) effective from […]
Sampath Bank Launches Sri Lanka’s First Real-Time USD Payment Solution for Sri Lanka Ports Authority Users
Sampath Bank PLC and the Sri Lanka Ports Authority (SLPA) have jointly launched Sri Lanka’s first real-time USD payment solution for the maritime industry, eliminating traditional manual payment processes and streamlining foreign currency transactions across the country’s shipping and logistics ecosystem. The initiative marks another industry-first innovation from Sampath Bank and a significant step forward […]
First Capital Fixed Income Fund Delivers Highest 5-Year CAGR Among Open-Ended Income Funds in Sri Lanka
First Capital Wealth Management Limited (FCAM), the wealth management arm of First Capital Holdings PLC, a subsidiary of JXG (Janashakthi Group), has enhanced its unit trust offering through the First Capital Fixed Income Fund (FCFIF), further widening access to investment opportunities and making professionally managed unit trusts more accessible to investors with diverse financial and […]
Manageable Impact on Sri Lankan Lenders’ Capital from Higher Gold-Loan Risk Weights: Fitch Ratings
Fitch Ratings believes the Central Bank of Sri Lanka’s tighter capital treatment for gold-backed lending will have a mostly manageable impact on rated banks’ and finance companies’ capital ratios, while supporting risk profiles. The impact on Fitch-rated finance companies is likely to be larger than on banks because gold-backed lending accounts for a larger share […]
Commercial Bank extends its operations to Port City Colombo
Reinforcing its commitment to support the nation’s next phase of economic transformation, Commercial Bank of Ceylon PLC’s new branch in Port City Colombo will bring world-class banking services to Sri Lanka’s emerging international financial hub. Located at Building 04 in Area 02 of the Port City Business Centre – Commercial Hub, Commercial Bank’s Port City […]
CSE & Sampath Bank Signs MoU to Strengthen Capital Market Access
The Colombo Stock Exchange (CSE) and Sampath Bank PLC signed a Memorandum of Understanding (MoU) late last month to jointly promote financial literacy, broaden awareness of capital market opportunities, and support businesses in accessing sustainable growth avenues. By leveraging Sampath Bank’s extensive relationship network together with the CSE’s expertise and product offerings, the collaboration seeks […]
Sri Lanka’s Vehicle, Gold Loan Curbs Support Lenders’ Risk Profiles: Fitch Ratings
Sri Lanka’s tighter macroprudential restrictions on vehicle and gold-backed lending will benefit lenders’ risk profiles, particularly those of finance companies, Fitch Ratings says. The Central Bank of Sri Lanka’s lower loan-to-value (LTV) caps target two products that have expanded rapidly in recent years and represent a substantial share of mainly finance companies’ balance sheets. The […]
Commercial Bank now brings PayPal-linked withdrawals for customers
Enables channeling of global digital earnings directly into bank accounts via ComBank Digital The Commercial Bank of Ceylon, reaffirming its leadership in introducing the latest global financial technologies to Sri Lanka, has announced the availability of PayPal-linked withdrawal functionality for eligible customers to seamlessly channel their global digital earnings directly into their Commercial Bank accounts […]
Sri Lanka’s Banking sector assures it is stable, equipped to address fraud incidents
Sri Lanka’s banking sector has provided a collective and categorical assurance that it remains stable, resilient, and secure despite a few recent isolated incidents of financial fraud, emphasising that these developments do not pose a threat to the safety of customer deposits or the overall integrity of the financial system. While acknowledging that such incidents […]
CBSL introduces maximum Loan to Value ratio for gold backed lending & tightens LTV ratios for motor vehicles
The Governing Board of the CBSL decided to introduce a maximum LTV ratio for credit facilities secured by gold and tighten the maximum LTV ratios applicable to credit facilities granted in respect of motor vehicles with effect from 25 May 2026. These steps are taken by the CBSL in line with its macroprudential authority, in […]