Category: Banking and Finance
Sri Lanka’s LOLC Group receives USD 247Mn syndicated loan
Feb 24, 2016 (LBO) – Sri Lanka’s Lanka Orix Leasing Group announced a landmark syndication to borrow 247 million US dollars from three financial institutions including the Asian Development Bank. “A total of 247 million US dollars was received from multiple foreign funding partners and will consist of 3 loans,” a LOLC Group statement said. […]
Sri Lanka’s Commercial Bank to raise Rs7bn in debentures
Feb 18, 2016 (LBO) – Sri Lanka’s Commercial Bank said it was planning to raise as much as 7 billion rupees from the sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in stock exchange filing that it wanted to sell 50 million debentures of 100 rupees each. But […]
Sri Lanka stocks close down 0.2-pct; Insufficient liquidity level
Feb 18, 2016 (LBO) – Sri Lankan stocks closed down at 0.19 percent with mixed investor sentiment and active trading in some banking sector stocks on earning expectations, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 11.93 points down at 6,208.89 down 0.19 percent. The S&P SL20 closed 21.47 points up at […]
‘s Orient Finance IPO backed by Janashakthi
Feb 18, 2016 (LBO) – Sri Lanka’s Orient Finance initial public offering was backed by Janashakthi Insurance given the trying market conditions for raising capital, a senior official said. “The biggest investor was the parent company (Janashakthi Insurance) because the way the restructuring went; during the amalgamation the parent had a cash out of their […]
Sri Lanka’s Sampath Bank net up 15-pct in Dec quarter
Feb 17, 2016 (LBO) – Net profits at Sri Lanka’s Sampath Bank group rose 15 percent to 1.5 billion rupees in the December quarter from a year earlier, interim accounts showed. The group reported earnings of 8.91 rupees for the quarter against 7.74 rupees per share last year. For the year ended December the group […]
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Fitch Ratings-Colombo-16 February 2016: Fitch Ratings has today assigned Hatton National Bank PLC’s (HNB, AA-(lka)/Stable) proposed subordinated debentures of up to LKR7bn a final National Long-Term Rating of ‘A+(lka)’. The assignment of the final rating follows the receipt of documents conforming to information already received, and the final rating is the same as the expected […]
Sri Lanka’s LOLC December net up 60-pct
Feb 15, 2016 (LBO) – Profits at Sri Lanka’s LOLC group which has interests in financial services, insurance, plantations, trading and leisure rose 60 percent to 2.2 billion rupees in the December quarter. The group reported earnings of 4.66 rupees per share for the quarter up from 2.91 rupees from a year earlier on last […]
‘s NDB profits up 46-pct in Dec
Feb 15, 2016 (LBO) – Sri Lanka’s National Development Bank’s profits were up 46 percent to 1,254 million rupees in the December 2015 quarter from a year earlier, interim accounts filled with the Colombo Stock Exchange said. The group reported earnings of 7.62 rupees per share. In the December quarter interest income rose 8.7 percent […]
USD100mn capital infusion into ETI Finance approved
Jan 29, 2016 (LBO) – The Central Bank has approved a proposal to infuse 100 million US dollars into the share capital of ETI Finance, Swarnamahal Financial Services said in a stock exchange filing. This capital injection reportedly from institutional investors from Australia is mandated to be completed by 28 February 2016. ETI Finance is […]
Chances of March Fed rate hike drop after FOMC statement
Jan 28, 2016 (LBO) – The chances of a U.S. Fed rate hike in March dimmed after a FOMC policy statement on Wednesday acknowledged global economic risks, as analysts interpreted the carefully worded statement. The FOMC decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent after a two-day […]
Sri Lanka to obtain membership of Asian Infrastructure Bank with USD 268mn
Jan 21, 2016 (LBO) – The Cabinet has approved the draft bill to enable Sri Lanka to obtain the formal membership of the Asian Infrastructure Investment Bank through ratification of the required agreement. Sri Lanka has signed the agreement as an initial member to establish this bank on 29 June 2015 in Beijing, China. 57 […]
Bank of Tokyo Mitsubishi UFJ opens representative office
Jan 21, 2015 (LBO) – Bank of Tokyo-Mitsubishi UFJ (BTMU), Japan’s largest bank by market value, opened a representative office in Sri Lanka on Thursday to support business with Japanese companies. The bank is the commercial banking entity of Mitsubishi UFJ financial group (MUFJ), the eighth largest bank in the world with assets of 2.4 […]