Category: Banking and Finance
ComBank Bangladesh operations receive ‘AAA’ credit rating by CRISL
Commercial Bank Bangladesh, the Bangladesh operation of Commercial Bank of Ceylon PLC, has received a ‘AAA’ (Triple A) Long Term credit rating from Credit Rating Information and Services Ltd (CRISL) for 2024, the 14 th consecutive year it has received the highest credit rating given to a financial institution in Bangladesh. Valid till June 2025, […]
Sri Lanka urged to tap sustainable bonds for economic and environmental progress: ADB
The Asian Development Bank (ADB) urged Sri Lanka to ramp up its growth efforts while tackling climate change challenges, emphasizing the potential of green bonds to meet the country’s financial needs. ADB Country Director Takafumi Kadono highlighted that public sector funding alone is insufficient for these efforts, making it essential to mobilize private financing through […]
ComBank’s Debenture Issue, largest ever debenture by a private bank oversubscribed on opening day
The Commercial Bank of Ceylon’s and Sri Lanka’s largest ever debenture issue by a private bank closed after oversubscription on its opening day, Tuesday 2nd July 2024, raising Rs 20 billion for Sri Lanka’s biggest private sector bank, and demonstrating investor confidence in the institution. Announcing the oversubscription, the Bank said it had received applications […]
First Capital Holdings announce board appointments
First Capital Holdings PLC, a member of the Janashakthi Group, is pleased to announce key appointments to its Board of Directors, effective June 28, 2024. Veteran banker Rajendra Theagarajah has been appointed as the Chairman. Joining him are Inoshini Perera, Rachini Rajapaksa, and Dilendra Wimalasekere as new members of the Board. The appointment of Rajendra […]
”; Outlook stable
Fitch Ratings has affirmed Merchant Bank of Sri Lanka & Finance PLC’s (MBSL) National Long-Term Rating at ‘BBB+(lka)’. The Outlook on Stable. MBSL is 84.5% owned by Bank of Ceylon (BOC, A(lka)/Stable) and other BOC group entities. BOC is the largest banking group in the country. KEY RATING DRIVERS Shareholder Support Drives Ratings: MBSL’s rating […]
Central Bank announces implementation of Banking (Amendment) Act, No. 24 of 2024
The Central Bank of Sri Lanka (CBSL) wishes to announce the implementation of the Banking (Amendment) Act, No. 24 of 2024, effective from 15.06.2024. These amendments were formulated with a view to further strengthening the legal and regulatory framework applicable for licensed commercial banks and licensed specialised banks (licensed banks) to enhance the resilience of […]
SLBA rejects “misconceived” diatribe against lending and debt recovery practices of banks
The Sri Lanka Bank’s Association (SLBA) has rejected a reported recent tirade against banks by two senior lawmakers, describing their remarks as “misconceived, inaccurate, misleading and unhelpful.” The SLBA, which represents all banks licensed by the Central Bank of Sri Lanka (CBSL) including state banks, public listed companies and branch offices of international banks, said […]
Administrative penalties imposed by FIU on Financial Institutions from Jan 1st to Apr 30th 2024
By virtue of the powers vested under Section 19(1) read together with section 19(2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliance with the provisions of the FTRA. The penalty may be prescribed taking into consideration the nature and gravity of relevant non-compliance of […]
CBSL appoints two new deputy Governors
In terms of the provisions in the Central Bank of Sri Lanka Act, No. 16 of 2023, Minister of Finance, as recommended by the Governing Board, has appointed A A M Thassim, Assistant Governor and Secretary to the Governing Board, and J P R Karunaratne, Assistant Governor, as Deputy Governors of the Central Bank of […]
ComBank’s Rs 10Bn debenture issue opens 2nd July
The Colombo Stock Exchange (CSE) has approved in principle the listing of Commercial Bank of Ceylon PLC’s Rs 10 Billion Debenture Issue opening on Tuesday 2nd July 2024. The Bank has announced an initial issue of 100 million Basel III Compliant – Tier 2 Listed Rated Unsecured Subordinated Redeemable Debentures with a Non-Viability Conversion feature, […]
Commercial Credit and Finance secures 1st place in K Seeds Investments’ ranking report
K Seeds Investments (Pvt) Ltd identified Commercial Credit and Finance PLC as the best performing finance company under the 1st category among the 28 listed finance companies in Sri Lanka through a ranking carried out based on their financial performance for the fourth quarter of 2023/24. The report segregates the finance companies based on the […]
ComBank biggest lender to Sri Lanka’s SMEs for 4th consecutive year
The Commercial Bank of Ceylon was the biggest lender to Sri Lanka’s small and medium enterprises (SME) sector by a huge margin in 2023, accounting for nearly a third of the value of the loans disbursed by a total of 17 state and private sector lending institutions, the Ministry of Finance has confirmed. According to […]