Category: Banking and Finance

Nov 15, 2012 (LBO) – Profits at Sri Lanka’s Sampath Bank group fell 9. 1 percent to 1.04 billion rupees in the September 2012 quarter from a year earlier amid weaker fee income and foreign exchange losses, interim accounts showed. The group reported earnings of 6.46 rupees for the quarter. For the nine months to […]

Nov 14, 2012 (LBO) – Sri Lanka’s Fitch Ratings has confirmed an ‘A+(lka)’ rating of Central Finance Company Plc, the country’s largest finance company at the end of 2011, with a stable outlook. At end-2011, CF was the largest licensed finance company (LFC) holding 13% of LFC assets in Sri Lanka. An upgrade of CF’s […]

Nov 13, 2012 (LBO) – Fitch Ratings has confirmed a ‘BB+(lka)’ rating of Trade Finance and Investment Plc (TFI), with a stable outlook, saying recent fast credit growth needs strong monitoring. “The rating factors in TFI’s strong capitalisation and profitability metrics for a small-sized registered finance company (RFC),” the agency said. “The rating is however, […]

Nov 12, 2012 (LBO) – Sri Lanka’s NDB group profits edged 3 percent lower to 678 million rupees in the September 2012 quarter from a year earlier, with interest and staff expenses rising, interim accounts show. The group posted earnings of 4. 13 rupees per share in the quarter. In the nine months to September […]

Nov 07, 2012 (LBO) – Sri Lanka’s Commercial Bank’s profits rose 11. 5 percent to 2.3 billion rupees in the September 2012 quarter from a year earlier, despite a steep rise in interest expenses, interim accounts showed. Performing loans grew 12 percent to 310 billion rupees in the nine months to September. Non-performing loans grew […]

Nov 05, 2012 (LBO) – Profits at Sri Lanka’s Pan Asia Bank fell 6 percent to 195 million rupees in the September 2012 quarter from a year earlier, amid flat net interest income growth, interim accounts showed. Deposits grew 18 percent to 41. 8 billion rupees. Bad loans grew 7 percent to 2.7 billion rupees […]

Nov 01, 2012 (LBO) – Sri Lanka’s Nations Trust Bank’s ‘A(lka)’ rating has been confirmed by Fitch Ratings with a stable outlook, on a stable credit profile and efforts to improve its franchise, the rating agency said. “Continued consolidation of NTB’s franchise alongside sustained improvements to its credit profile may result in a rating upgrade,” […]

Nov 01, 2012 (LBO) – Profits at Sri Lanka’s People’s Leasing and Finance group, the country’s largest non-bank lender was 795 million in the September 2012 quarter rupees barely changed from 790 million rupees a year earlier. Leasing and higher purchase rentals outstanding were also flat at 79 billion rupees by end September from 78.9 […]

Oct 31, 2012 (LBO) – Net profits of Sri Lanka’s Union Bank of Colombo rose 7.46 percent to 79.7 million rupees in the September 2012 quarter from a year earlier, with interest margins narrowing, interim accounts showed. The bank made 20 cents of earnings per share in the quarter based on 349 million shares in […]

Oct 30, 2012 (LBO) – Commercial Leasing and Finance Company Limited, a unit of Sri Lanka’s LOLC group has been rated (SL)A- with a stable outlook by ICRA Lanka, a rating agency. ICRA has also rated Lanka Orix Finance Plc, another unit (SL) A- in August. The parent holding company was also rated (SL) A […]

Oct 26, 2012 (LBO) – Sri Lanka’s Seylan Bank has reported profits of 589 million rupees for the September 2012 quarter up 48.5 percent from a year earlier, helped by lower investment provisions, interim accounts showed. The bank reported earnings of 1.74 rupees per share for the quarter. In the nine months to September the […]

Oct 26, 2012 (LBO- Sri Lanka’s LOLC group’s ratings have been withdrawn by Fitch Ratings though the underlying ratings with negative outlooks have been confirmed. The parent LOLC’s BBB+(lka) rating, two steps up in the investment grade which also applies to 1.25 billion rupees of senior debt securities has been confirmed. LOLC’s ratings were confirmed […]