Category: Banking and Finance

Mar 18, 2015 (LBO) -The recent change in Sri Lanka’s political setting adds to uncertainty over the fate of the earlier administration’s policies related to economic reforms, monetary policy, and banking sector consolidation, the Standard & Poor rating services said in a report published yesterday. The statement by Standard & Poor rating reproduced below:- The […]

Mar 11, 2015 (LBO) – Sri Lanka’s state banks have extended the 15 percent senior citizens interest rate scheme for new fixed deposits of up to one million rupees amid quarries from dissatisfied elders. Even though the scheme has been extended, general manager of bank of Ceylon D.M Gunasekara said that banks will consider only […]

Feb 27, 2015 (LBO) – Sri Lanka’s Banks likely to witness an improvement of the operating environment in 2015 and 2016 but, longer-term challenges for the banking sector remain, Fitch Ratings said in a statement.The Full Statement Reproduced Below : The operating environment for Sri Lankan banks is likely to improve in 2015 and 2016 […]

Feb 27, 2015 (LBO) – Sri Lanka’s Banks likely to witness an improvement of the operating environment in 2015 and 2016 but, longer-term challenges for the banking sector remain, Fitch Ratings said in a statement. The Full Statement Reproduced Below : The operating environment for Sri Lankan banks is likely to improve in 2015 and […]

Dec 23,2014 (LBO) – The Central Bank of Sri Lanka (CBSL) issues a commemorative silver coin of 500 rupees to mark the 150th birth anniversary of Srimath Anagarika Dharmapala in recognition of his national service, the bank said in a media release.A limited number of coins will be available for sale at a price of […]

Dec 01, 2014 (LBO) – Sri Lanka National Development Bank (NDB) was recognised with the ˜Banker Financial Inclusion Award 2014’ of the Banker Magazine UK at a ceremony in London recently, the bank said in a media statement. The award is conferred to only one global victor each year, recognizing its efforts towards promoting financial […]

Nov 26, 2014 (LBO) – Sri Lanka’s banking sector needs new products and services to be competitive in the sector and to drive growth, Central Bank Governor Nivard Cabraal said. Cabraal said, looking at vision 2020, it is time for banks to re invent and re think about the role and the products to achieve […]

Nov 26, 2014 (LBO) – Sri Lanka’s Fitch Ratings has assigned Siyapatha Finance proposed subordinated redeemable debentures of up to one billion rupees a final national long term rating of ‘A-(lka)’. The full statement is reproduced below: Fitch Rates Siyapatha Finance’s Subordinated Debt Final ‘A-(lka)’ Fitch Ratings-Colombo/Taipei-26 November 2014: Fitch Ratings Lanka has assigned Siyapatha […]

Nov 26, 2014 (LBO) – Sri Lanka’s Fitch Ratings has assigned Sampath Bank proposed subordinated debentures of up to seven billion rupees a final national long term rating of ‘A+(lka)’. The full statement is reproduced below: Fitch Rates Sampath Bank’s Subordinated Debentures Final ‘A+(lka)’ Fitch Ratings-Colombo/Hong Kong-26 November 2014: Fitch Ratings Lanka has assigned Sampath […]

Oct 04, 2014 (LBO) –Sri Lanka Seylan Bank, a private bank recorded a Profit before Tax of 3,490 million for the nine months ended 30th September 2014, the bank said in a media release. Profits after Tax reached a record of 2,253 million rupees a 47 percent increase compared to the 1,536 million rupees reported […]

Oct 28, 2014 (LBO) – Sri Lanka’s Bank of Ceylon (BOC) to receive 10 billion rupees from budget 2015 in order to strengthen the capital of the bank. President Mahina Rajapaksa said this presenting the budget to the parliament last week. BOC’s profits before tax increased 20 percent to 8.6 billion rupees the first half […]

Oct 23, 2014 (LBO) – Sri Lanka DFCC Vardhana Bank (DVB), a commercial bank launched Lanka Money Transfer (LMT) service, a remittance service which allows customers, both the sender and receiver to transfer money with ease, using the banks that they trust. The newly introduced service will allow customers to transfer money with ease and […]