Banking and Finance

Fitch affirms five small & mid-sized Sri Lankan banks; revises Amana outlook

June 28, 2018 (LBO) – Fitch Ratings Lanka has revised the outlook on Amana Bank to Positive from stable and has affirmed its National Long-Term Rating at …

Vallibel Finance crosses Rs.1Bn mark for net profits

Jun 26, 2018 (LBO) – Vallibel Finance PLC crossed the one billion rupee net profit mark with the company announcing its income statement for the …

Enterprise Sri Lanka to strengthen local entrepreneurs: President

Jun 25, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena says as we introduce Credit Programmes for entrepreneurs, a joint programme …

Kim Jong Un finds Singapore clean and beautiful, impressed by its economic development

BY ALVIN CHENG-HIN LIM On June 12, 2018, the US and North Korean leaders Donald Trump and Kim Jong-un held a summiton Sentosa island in Singapore in which they …

Fitch-rated finance Cos unlikely to face immediate rating action despite new Regs

Jun 14, 2018 (LBO) – Fitch Ratings says finance companies rated by them are unlikely to face immediate rating action, as they believe all have adequate …

Fitch revises Sampath Bank outlook to stable from negative; affirms A+(lka)

Jun 13, 2018 (LBO) – Fitch Ratings has affirmed the National Long-Term Rating of Sampath Bank at A+(lka) and revised the outlook to stable from negative. …

High Tech Swiss firm eyes Sri Lanka for investment

Jun 11, 2018 (LBO) – KUK Electronics AG, a high technology swiss electronic manufacturer are exploring the the possibility of setting up a manufacturing …

ICRA Lanka assigns [SL] A1 rating to commercial paper programme of LOLC

June 06, 2018 (LBO) – ICRA Lanka Limited, aubsidiary of ICRA Limited, group company of Moody’s Investors Service, has assigned [SL] A1 rating to the 1,000 …

Sampath Bank Marches towards Vision 2020 with Sampath Stars

Sampath Bank recommitted itself to offering technology driven, world class financial services to Sri Lankan consumers and businesses at an awe-inspiring event …

Fitch Ratings to maintain a negative banking sector outlook for 2018

June 01, 2018 (LBO) – Fitch Ratings said they are maintaining a negative banking sector outlook for this year as operating conditions are likely to remain …

Sri Lanka exports up 6.3-pct to USD1.1Bn

Jun 01, 2018 (LBO) – Sri Lanka’s overall exports were up by 6.3 percent to US 1.1 billion dollars with an increase in industrial exports, data …

Sri Lanka reserves at USD7.3Bn, Rupee depreciates 3.3-pct: CB

Jun 01, 2018 (LBO) – Sri Lanka’s Central Bank says the level of gross official reserves of the country was estimated at US 7.3 billion dollars, …

Sri Lanka Central Bank clarifies on external debt and reserves

May 23, 2018 (LBO) – Sri Lanka’s Central bank issuing a statement has clarified a misleading news item has been disseminated in relation to Sri …

ETI Finance to pay 20-pct of deposit liabilities from USD75mn sale proceeds

May 21, 2018 (LBO) – Monetary Board of the Central Bank has decided to permit ETI Finance (ETIFL) to sell its share holding in subsidiaries and investment …

Nations Trust Bank – Realizing Dreams

The Nations Trust story began more than 18 years ago when a small new bank full of determination,entered a field dominated by titans with a dream to carve out …

LKR depreciation unwarranted; Reserves to reach US$ 11Bn by June 2018 :CB

May 17, 2018 (LBO) – The Central Bank of Sri Lanka says the underlying fundamentals do not warrant the current pressure on the Sri Lanka rupee. The rupee …