Category: Banking and Finance

May 14, 2014 (LBO) – Profits at Sri Lanka’s Hatton National Bank group fell 13 percent from a year earlier to 1.09 billion rupees in the March 2014 quarter as net interest income fell and loan losses went up, interim accounts showed. At stand alone bank level, gross non performing loans rose to 4.53 percent […]

May 12, 2014 (LBO) – Profits at Sri Lanka’s Sampath Bank rose 21 percent from a year earlier to 1,2 billion rupees in the March 2014 quarter helped by loan loss reversal and other income while net interest income fell. The group reported earnings of 7.50 rupees per share for the quarter. Group interest income […]

May 12, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said profits rose 2 percent in the March 2014 quarter to 2,301 million rupees from a year earlier, with helped by higher net interest income and trading gains.The group reported earnings of 2.71 rupees per share, in interim accounts filed with the Colombo Stock […]

May 11, 2014 (LBO) – Sri Lanka’s Waterfront Properties (Pvt) Ltd, a unit of John Keells Holdings that is building an integrated resort has started raising foreign debt with Standard Chartered being appointed advisor. Standard Chartered Bank had given the first 100 million US dollars, as bridging finance for the first phase of the project, […]

May 08, 2014 (LBO) – Sri Lanka’s Nations Trust Bank said profits rose 10 percent in the March 2014 quarter from a year earlier to 549 million rupees despite providing for losses on gold backed loans. The group reported earnings of 2.38 rupees per share for the quarter in interim accounts filed with the Colombo […]

May 7, 2014 (LBO) – Browns Investments Plc said it had sold 11.98 million non-voting shares held in Seylan Bank to Lanka Orix Leasing Company Plc for 479.9 million rupees. LOLC itself owns finance companies as well as having a position in Seylan Bank. Brown is part of the LOLC group. LOLC has been restructuring […]

May 05, 2014 (LBO) – Sri Lanka’s credit from commercial banks fell 0.9 billion rupees to 2490.7 billion rupees in February 2014 from a month earlier, the second month running that private credit has fallen in absolute terms.In January the outstanding private credit stock fell 42.7 billion rupees, the first month credit has shrunk in […]

May 05, 2014 (LBO) – Sri Lanka’s foreign reserves rose to 8.3 billion US dollars in February 2014, from 8.04 billion US dollars in January, official data showed. The Central Bank said worker remittance rose 8.8 percent to 1,057 million US dollars, tourism earnings rose 37.9 percent to 416.8 million US dollars and there were […]

May 05, 2014 (LBO) – Payments to ports in Sri Lanka by shippers can be made online, speeding up imports and exports, Sampath Bank, a private lender in the island said.Shippers who are not Sampath customers could make payments by visiting a super grade branch fro 8.00 am to 8.00 pm including holiday, the bank […]

May 01, 2014 (LBO) – Profits at Sri Lanka’s Seylan Bank group rose 3.3 percent to 526 million rupees in the March 2014 quarter from a year earlier, helped by lower interest expenses, despite falling credit growth, interim accounts showed. The group reported earnings of 1.53 rupees per share. The stock closed at 64.00 rupees, […]

May 01, 2014 (LBO) – All banks and non bank lenders in Sri Lanka directed by the regulator have given broad plans on a consolidation and some are in talks on acquisitions or mergers, the Central Bank said.Several non bank lenders within business groups have been given the nod to merge. Banks and large non-bank […]

Apr 22, 2014 (LBO) – Sri Lanka’s Dunamis Capital Plc, had been rated ‘BBB+’ with a ‘stable’ outlook and a proposed debt billion rupee debt sale ‘BBB’ by Colombo based Ram Ratings Lanka Plc. Dunamis has interests in primary dealing, stock brokering, margin trading, debt structuring, asset management and property development. The full statement is […]