Category: Banking and Finance
‘s subordinated debentures AA-
Jan 13, 2016 (LBO) – Fitch Ratings Lanka has assigned Commercial Bank’s proposed Basel II-compliant subordinated debentures of up to 7 billion rupees a final National Long-Term Rating of ‘AA-(lka)’. The final rating is the same as the expected rating assigned on 22 December 2015, and follows the receipt of documents conforming to information already received, […]
Sri Lanka’s Orient Finance to raise Rs1bn through IPO
Jan 06, 2016 (LBO) – Sri Lanka’s finance sector player Orient Finance is to raise one billion rupees by way of an Initial Public Offering. The company will offer 71.5 million ordinary shares at 15 rupees each, the company said in a stock exchange filing. The finance company formerly known as Bartleet Finance has obtained […]
HNB Grameen shares to be listed in CSE
Jan 06, 2016 (LBO) – Hatton National Bank’s micro finance arm, HNB Grameen, is to list its shares in the Colombo Stock Exchange shortly, Managing Director of HNB, Jonathan Alles said. Alles was speaking at the trade opening ceremony conducted at the CSE yesterday. “In the HNB group, Lanka Ventures, HNB Assurance are listed and […]
Sri Lanka’s NSB takes over management of Entrust Securities
Jan 05, 2016 (LBO) – Sri Lanka’s state-owned National Savings Bank has taken over the management of troubled Entrust Securities from yesterday evening, Central Bank official said. The state-owned bank has taken over the operations following the discussions with the Central Bank and officials of the Entrust Securities Plc. Meanwhile the CSE has halted the […]
PM calls on all to join country’s growth drive
Jan 04, 2015 (LBO) – Prime Minister, Ranil Wickremesinghe in his new-year message called on all Sri Lankan’s to join the government in its march towards rapid development. “We want to see a rapid development drive in the country, our aim is to develop the country from the Western Province to Trincomalee on one side […]
Sri Lanka stocks close down 0.4-pct: Volume at 21 month low
Dec 28, 2015 (LBO) – Sri Lankan stocks closed down at 0.44 percent following a Christmas long week-end holiday with index heavy and banking sector stocks making losses, brokers said. The Colombo benchmark All Share Price Index closed lower at 30.13 points at 6,828.51 down 0.44 percent. S&P SL20 closed 11.03 points down at 3,592.87 […]
‘s Subordinated Debentures AA-(lka)(EXP)
Dec 23, 2015 (LBO) – Fitch Ratings Lanka has assigned Commercial Bank of Ceylon proposed Basel II-compliant subordinated debentures of up to 7 billion rupees an expected National Long-Term Rating of AA-(lka)(EXP).The proposed issuance, which will have tenors of five and ten years and carry fixed coupons, will be listed on the Colombo Stock Exchange. […]
‘s outstanding debentures BBB+(lka)
Dec 22, 2015 (LBO) – Fitch Ratings has assigned LB Finance’s outstanding rupee denominated subordinated debentures a National Long Term Rating of ‘BBB+(lka)’. The debentures mature in 2016, 2017 and 2018 and have total value of 2.545 billion rupees. A full list of LB’s ratings is given below. KEY RATING DRIVERS The outstanding subordinated debentures are rated one […]
Sri Lanka appoint more ministers
Dec 22, 2015 (LBO) – Sri Lanka President Maithripala Sirisena appointed Priyankara Jayarathne as the State Minister of Local Government and Provincial Councils, who sworn in before President Maithripala Sirisena at the Presidential Secretariat yesterday (Dec.21) and Sarathi Dushmantha Mithrapala as the Deputy Minister of Buddha Shasana. Mithrapala is also the current Deputy Minister of […]
Sanasa Development Bank to raise Rs4bn from listed debenture
Dec 21, 2015 (LBO) – Sri Lanka’s Sanasa Development Bank is to raise 4.0 billion rupees from a listed debenture issue, the company said in a stock exchange filing. The company has decided to issue 20 million debentures at 100 rupees each with an option to issue up to a further 20 million debentures in the […]
Sri Lanka year in review 2015: OBG
Dec 21, 2015 (LBO) – Sri Lanka has emerged with a renewed emphasis on economic reforms and fiscal consolidation, which has allayed concerns for many local and foreign investors, a year end review by the Oxford Business Group said. Full statement follows……. In the wake of general elections earlier this year, Sri Lanka has emerged […]
Govt to save Rs15bn by moving its accounts to private banks: FM
Dec 20, 2015 (LBO) – Sri Lanka’s Finance Ministry is to transfer part of the government accounts maintained by the state banks to private banks in order to reduce state expenditure.Finance Minister Ravi Karunanayake told Parliament Saturday that there will be a cost saving of about 15 billion rupees through the new proposal.“State banks currently […]