Category: Banking and Finance
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Fitch Ratings – Colombo – 14 Jun 2024: Fitch Ratings has assigned National Development Bank PLC’s (NDB, A-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III- compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘BBB(EXP)(lka)’. KEY RATING DRIVERS The proposed debentures will mature in five years and will be listed on […]
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Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB, A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III- compliant subordinated debentures of up to LKR20 billion a final National Long-Term Rating of ‘BBB+(lka)’. The final rating is the same as the expected rating assigned on 15 February 2024 and follows the receipt of documents conforming to […]
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Fitch Ratings has affirmed Commercial Bank of Ceylon PLC’s (COMB) National Long-Term Rating of ‘A(lka)’. The Outlook is Stable. At the same time, Fitch has affirmed the bank’s subordinated debt at ‘BBB+(lka)’ and proposed subordinated debt at ‘BBB+(EXP)(lka)’.
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Fitch Ratings has affirmed the National Long- Term Rating on People’s Bank (Sri Lanka) (PB) at ‘A(lka)’. The Outlook is Stable.
Sri Lanka Leads Region in Recruiting More Women in Banking Industry but Barriers Remain: IFC Report
With 46 percent of all entry-level hires, a new study by the International Finance Corporation (IFC) finds that Sri Lanka is ahead of some of its South Asian peers in recruiting women at the entry-level of the banking industry. The study supported under the Women in Work program—a partnership between IFC and the Australian government— […]
Siyapatha Finance PLC debenture issue oversubscribed
Siyapatha Finance PLC, a subsidiary of Sampath Bank PLC and a prominent leader in Sri Lanka’s non-banking financial sector, announces the resounding success of its recent debenture issuance, which received an overwhelming response from investors, meeting and surpassing all expectations. The highly anticipated initial public offering of Siyapatha Finance PLC’s debenture issuance, officially opened for […]
Central Bank launches financial literacy roadmap of Sri Lanka 2024-2028
The Central Bank of Sri Lanka launched the Financial Literacy Roadmap of Sri Lanka, marking a significant step towards enhancing the financial capabilities of Sri Lankans, in Colombo Tuesday. This Roadmap, a cornerstone of Sri Lanka’s National Financial Inclusion Strategy (NFIS), offers evidence- based guidance to all stakeholders engaged in financial literacy initiatives, aligning them […]
Seylan Bank appoints Justice Buwaneka Aluwihare as Chairman
Seylan Bank PLC has announced the appointment of Justice Buwaneka Aluwihare, PC, who is set to assume the role of Chairman of the Board, effective from 29 May 2024. The transition follows the retirement of the current Chairman, Ravi Dias, who will complete his nine-year tenure as a Director of the Bank on May 28, […]
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Fitch Ratings has assigned Seylan Bank PLC’s (A-(lka)/Stable) proposed Sri Lankan rupee-denominated, Basel III-compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘BBB(EXP)(lka)’. The proposed debentures, which will have maturities of five and seven years, will be listed on the Colombo Stock Exchange. The bank plans to use the proceeds […]
Port City Colombo to reinvent SL economy to contemporary system that is geared for export of services
Port City Colombo says it hopes to empower large-scale business growth within the South Asian region through a reliable and competitive regulatory environment that enhances the ease of doing business. Issuing a statement the Port Coty Colombo says that this progressive economically ring-fenced landscape is projected to reinvent the Sri Lankan economy, from one that […]
Sampath Bank reports Q1 results: PAT of Rs3.4Bn
Sampath Bank posted a profit before tax (PBT) of Rs 6.2 billion and a profit after tax (PAT) of Rs 3.4 billion for the three months ended 31st March 2024, notwithstanding an exchange loss of Rs 4.3 billion due to the appreciation of the LKR against the USD by Rs 23.70. These figures signify growth […]
Advocata hosts: Charting the course: Revitalizing economic governance for prosperity
In an effort to address the ever-evolving landscape of global governance, an esteemed gathering of thought leaders from diverse backgrounds will convene for the “Charting the Course: Revitalizing Economic Governance for Prosperity” conference organized independent economic policy think-tank, the Advocata Institute will be held on Saturday, May 18th, 2024, at the Galle Face Hotel, Colombo […]