Fitch downgrades Singer Finance to ‘A(lka)’; Outlook negative
Fitch Ratings has downgraded Singer Finance (Lanka) PLC's (SFL) National Long-Term Rating to 'A(lka)' from 'A+(lka)'. The Outlook is Negative. The agency has …
Banking and Finance
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Consolidation of Non-Bank Financial Institutions on track; Rs 12.6bn fresh capital introduced: CBSL
The Non-Bank Financial Institutions sector has witnessed a significant improvement in compliance with regulatory capital requirements and has recorded the …
Opinion: Repay foreign debt or finance essential imports
By Chair of our Academic Programme and former Economic Adviser at the World Bank, Dr. Sarath Rajapatirana, and our Senior Research Fellow, and former Director …
ComBank’s automated machine network dispensed Rs 91.8Bn in Dec & Rs 848.4Bn in 2021
The automated cash dispensing network of the Commercial Bank of Ceylon which comprises of ATMs and Cash Recycler Machines (CRMs) dispensed a mammoth Rs 91.872 …
Opinion: Government heavy-handedness to blame for our currency woes
By Vinuja Singharachchige: Much is being said nowadays about the pressures the Sri Lankan Rupee is facing, but it is important that we understand the mechanics …
Opinion: ‘Sri Lankan State-Owned Enterprises: A Major Crisis in the Making’
written by Migara Rodrigo Sri Lanka has a whopping 527 state-owned enterprises[1] (SOEs). The 55 SOEs classified as “strategically important” alone employ …
Sri Lanka’s Central Bank amends annual license fee of banks
The Monetary Board requests every licensed commercial bank and licensed specialised bank to pay the licence fee in respect of the calendar year 2022 to the …
Fitch downgrades Bank of Ceylon to ‘CC’ on sovereign downgrade; affirms Local-Currency IDR
Fitch Ratings has downgraded Bank of Ceylon's (BOC) Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'CC', from 'CCC'. The rating does not carry an …
Central Bank requests banks to suspend parate execution & forced repossession of leased assets
Sri Lanka's Central Bank with a view to meeting the challenges faced by businesses and individuals due to the ongoing COVID-19 pandemic, requests banks to …
SLTC divests from Sri Lanka Telecom in management buy-out
A management buy-out backed by Tempest two (Pvt) Ltd is gearing to acquire SLT Campus (Pvt) Ltd (popularly known as Sri Lanka Technological Campus) from Sri …
Finance Minister Basil Rajapaksa concludes successful visit to New Delhi
At the invitation of the Indian Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman, Minister of Finance of Sri Lanka Basil Rajapaksa concluded a …
BOI enterprises export revenues, record 2019 values: Double digit growth recorded in seven sectors
Accounting for 65% of all national exports and 85% of all national industrial exports, the Board of Investment today announced that total export earnings …
Mark Surgenor appointed Chief Executive Officer for HSBC Sri Lanka
Mark Surgenor has been appointed as Chief Executive Officer of HSBC Sri Lanka and the Maldives from 1 December 2021. He succeeds Mark Prothero, who retired …
“Dark future looming as foreign reserve drop to USD 1.5Bn, lowest in history” Eran
The opposition alleged in Parliament that foreign reserves have dropped to US 1.5 billion dollars which included the gold reserves of US 300 million dollars. …
Sarvodaya Development Finance IPO oversubscribed on opening day
Sarvodaya Development Finance’s (SDF) Rs. 1 billion Initial Public Offering (IPO) was oversubscribed on the initial opening day, the company secretary said …
Alliance Finance raises Rs1Bn in subordinate debt to strengthen tier II capital
Alliance Finance Co PLC (AFC) has successfully raised LKR 1 billion in Tier II capital, with the aim of strengthening the regulatory capital of the Company to …
Commercial Bank wins ‘Best Corporate Citizen Sustainability Award 2021’ for first time
Commercial Bank of Ceylon PLC won the coveted ‘Best Corporate Citizen Sustainability Award 2021’ at an annual event organized by the Ceylon Chamber of …
Flexicare unveils export-oriented medical devices manufacturing facility at Bandaragama
Flexicare Lanka – a fully owned subsidiary of Flexicare Group, U.K. – recently inaugurated its state-of-the-art manufacturing facility in Bandaragama which …
Sampath and NDB Bank underwrite Sarvodaya Development Finance IPO
The Initial Public Offering (IPO) of Sarvodaya Development Finance (SDF) will open to the public on 23rd November and will comprise an initial issue of …
Cost efficiencies drive 9-month growth for ComBank
The Commercial Bank of Ceylon Group has achieved characteristically equitable growth for the nine months ending 30th September 2021, despite a slowing down in …