PAYable surpasses Rs.15Bn in transactions on platform
PAYable (Pvt) Ltd., Sri Lanka’s cashless payment solution provider, announced that it has processed 15 billion rupees in transactions on its platform to …
Banking and Finance
Fitch withdraws expected A(lka)(EXP) rating on Seylan Bank’s proposed senior debt
Fitch Ratings has withdrawn Seylan Bank PLC’s ‘A(lka)(EXP)’ expected rating, assigned on 21 August 2020, for its proposed senior debenture …
Media Gender Charter for Sri Lanka launched
The Media Gender Charter (MGC) is a local initiative to guide media institutions in the need for a fair and equal gender portrayal within the media, …
Norfund to invest up to 9.99-pct in National Development Bank
NDB and the Norwegian Development Finance Institution, Norfund, have reached an agreement for Norfund to invest up to 9.99% in National Development Bank PLC …
Steve Allen appointed to lead dnata’s global operations
The Emirates Group has announced the appointment of Steve Allen as the Executive Vice President of dnata, a global leading air services provider. Steve Allen …
Sampath Bank simplifies cash management for businesses with Visa Business Debit Card
Sampath Bank recently announced the launch of Sri Lanka’s first Visa powered business debit card linked to a corporate account – the Sampath Bank Visa …
Transformation of distribution model: How insurance industry needs to prepare for ‘Next Normal’
By Chula Hettiarachchi Across different industries and geographies, COVID-19 has changed the ways people engage with one another. Numerous health …
Comm Bank Group’s operating income up 13.3-pct: Total assets grow 25-pct
Strong asset and other income growth combined with an emphasis on prudent provisioning in one of the most challenging years on record, have enabled the …
Seylan Bank records Rs. 3Bn profit after tax for 2020
In the backdrop of an extremely challenging environment, Seylan Bank recorded a Profit After Tax (PAT) of LKR 3Bn for the year ended 31 December 2020. Income …
HNB Group posts PAT of Rs 13.7Bn during 2020; total deposits grow by Rs 158Bn
Hatton National Bank PLC (HNB) demonstrated resilience and an unwavering focus on sustainable business performance as it posted Rs 13.7 Bn in Group Profit …
Economy at a glance for 2020:Double whammy blow
Highlights ICRA Lanka estimates Sri Lanka’s GDP growth rate in 2020 to be -4%. In addition, our estimates indicate industry, services, and agricultural …
Trade Finance and Investments amalgamates into Commercial Credit and Finance PLC
Trade Finance and Investments PLC (TFI), a financial service providerhas been amalgamated into one of Sri Lanka’s pioneering finance companies, Commercial …
Commercial Bank’s ePassbook surpasses 1 million customer registrations
New app downloads of Commercial Bank of Ceylon’s ePassbook has increased by 150,000 in just six months after self-registration was permitted via a recent …
Rated Sri Lankan corporates less exposed to sovereign than banks: Fitch Ratings
Fitch Ratings views most rated Sri Lankan corporates as less vulnerable than local financial institutions to the sovereign’s financial distress. This is …
Sampath Bank report slight decline in profits for 2020
Financial Performance for the Year 2020 Sampath Bank recorded a decline in Profit After Tax (PAT), from Rs 11.1 Bn in 2019 to Rs 8 Bn for the year 2020. …
Fitch rates Hatton National Bank’s Basel III Sub-Debt ‘A(EXP)(lka)’
Fitch Ratings has assigned Hatton National Bank PLC’s (HNB, AA-(lka)/Stable) proposed Sri Lanka rupee-denominated Basel III-compliant subordinated …
Sampath Bank partners with John Keells Properties’ TRI-ZEN on Home Financing Solutions
Sampath Bank entered into a strategic alliance with TRI-ZEN, a premium smart living project being developed in Union Place, Colombo by John Keells Properties …
Fitch rates Sampath Bank’s LKR6 Bn Basel III Subordinated Debt ‘A(lka)(EXP)’
Fitch Ratings Lanka has assigned Sampath Bank PLC’s (AA-(lka)/Stable) proposed LKR6 billion Basel III-compliant subordinated unsecured debentures an …
Sampath Bank to raise Rs. 6Bn in listed debentures
Sri Lanka’s Sampath Bank plans to raise as much as 6 billion rupees from a sale of Basel III compliant debentures which will be quoted on the Colombo Stock …
BOI, CSE & CCC to organize first-ever virtual investor forum to attract foreign investment
The Board of Investment of Sri Lanka (BOI), Colombo Stock Exchange (CSE) and Ceylon Chamber of Commerce (CCC) are set to organize a first-of-its-kind virtual …