Category: Banking and Finance

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 […]

Oct 17, 2014 (LBO) – Sri Lanka’s central bank held policy interest rates at 6.5 and 8.0 percent but said there is further room for banks to reduce lending rates, as inflation continued to be slow the Central Bank in its October monetary policy review. In nominal terms, most market interest rates are at historic […]

Oct 07,2014 (LBO)- The Commercial Bank of Ceylon being adjudged ˜The Strongest Bank in Sri Lanka in 2014’ by The Asian Banker, a leading provider of strategic intelligence on the financial services industry, the bank said in a media release. The key performance indicators assessed by the panel of international experts are the components of […]

Oct 01, 2014 (LBO) – Sri Lanka’s regulator driven consolidation is on track with eight banks and non-bank lenders given approval for mergers and recapitalization during September 2014, the Central Bank said. Another eight banks and non-bank lenders have completed internal processes to allow them to submit the plans, the regulator said. A total of […]

Sep 29, 2014 (LBO) – Sri Lanka’s UB finance to open more avenues to improve the small and medium sector and the lifestyle of the people, the company said in a media release. UB finance, a financial service solution provider is a subsidiary of Union Bank of Sri Lanka. In the coming year, UB Finance […]

Sep 29, 2014 (LBO) – Sri Lanka’s Union Bank was appointed as a primary dealer in government securities in terms of the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance by the Central Bank, the bank said in a media release. Union Bank will commence its business on 1st of October, 2014.

Sep 25, 2014 (LBO) – Sri Lanka Security Exchange Commission says the managing companies and trustees of unit trust should maintain a minimum number of fifty unit holders for each fund at all the times, the commission said in the media release. Where the minimum number if unite holders falls below the specified minimum threshold […]

Sep 25, 2014 (LBO) – Sri Lanka’s Ironwood Capital Partners, a private equity firm says that it has raised 30 million dollars for private equity investment vehicle for Sri Lanka post-2009 with an aim of strengthen the national economy through key strategic investments and support the development of the private equity industry in the country. […]