Category: Banking and Finance
Union Bank appoints Dilshan Rodrigo as Deputy CEO
Union Bank announces the appointment of Dilshan Rodrigo as the Deputy Chief Executive Officer with effect from 15 January 2024. Dilshan Rodrigo is a top banking professional with an impressive track record with over two decades of Banking experience. He last served as the Executive Director/Chief Operating Officer at Hatton National Bank (HNB), where he […]
ComBank unveils evolved logo, symbolising commitment to sustainability
The Commercial Bank of Ceylon has begun 2024 by underlining its commitment to sustainability – symbolically as well as literally. The instantly-recognisable Commercial Bank logo in blue will hereafter also feature a green element, representing the Bank’s multifaceted commitment to sustainability, encompassing diversity, inclusivity, good governance, transparency, social equity, accountability and eco-friendly banking solutions, the […]
Janashakthi Group announces transfer of 25% of First Capital Holdings shares to Janashakthi Insurance
Janashakthi Group (JXG), a leading conglomerate in financial services with a presence in the Insurance, Finance, and Investment sectors, announces a strategic move to enhance Group synergies through the transfer of 25% of First Capital Holdings PLC shares to Janashakthi Insurance PLC. This transfer is aimed at fostering a more cohesive and integrated approach across […]
Nirvana Chaudhary appointed as Chairman, Union Bank
Union Bank announced the appointment of Nirvana Chaudhary as the Chairman of Union Bank with effect from 21 December 2023. Chaudhary was appointed as a Non-Executive, Non-Independent Director to the Union Bank Board in October 2023. Chaudhary has extensive experience as a business leader and is presently the Managing Director of CG Capital Partners Global […]
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The Sri Lanka Banks Association (SLBA) has issued a statement defending the use of Parate Execution as a legal remedy for recovering mortgaged assets from wilful defaulters and businesses that are no longer viable. The statement comes in response to what the SLBA terms as “lobbying by a group of defaulting borrowers” seeking to weaken […]
Standard Chartered Sri Lanka strengthens regional ties with Correspondent Banking Conference 2023
Standard Chartered Sri Lanka announced the conclusion of its Correspondent Banking Regional Conference for 2023, held at the Galle Face Hotel on November 23 and 24. Attended by senior representatives from more than 55 banks across the ASEAN and South Asian region, the event served as a pivotal platform for sharing insights, fostering collaboration, and […]
ComBank raises Rs 12 bn. as Debentures are snapped up on opening day
The Commercial Bank of Ceylon has raised Rs 12 billion in capital with its Debenture issue closing after over subscription on its opening day, Tuesday 12th December 2023. The Bank offered an initial issue of 60 million Basel III Compliant – Tier 2 Listed Rated Unsecured Subordinated Redeemable Debentures with a Non-Viability Conversion feature, at […]
Port City Colombo in round table discussion at Commonwealth Trade and Investment Summit
Port City Colombo (PCC) showcased its commitment to sustainable development and global economic cooperation at the third Commonwealth Trade and Investment Summit (CTIS) held in London recently. CTIS, known for bringing together senior business leaders and ministers from across the Commonwealth’s five regions, provided an ideal platform for PCC to engage in critical discussions on […]
”; Outlook Stable
Fitch Ratings has downgraded Singer Finance (Lanka) PLC’s (SFL) National Long-Term Rating to ‘BBB(lka)’ from ‘BBB+(lka)’. The Outlook is Stable. Fitch has also downgraded SFL’s outstanding senior unsecured debt to ‘BBB(lka)’ from ‘BBB+(lka)’, and the outstanding subordinated unsecured debentures to ‘BB+(lka)’ from ‘BBB-(lka)’.
Navigating Sri Lanka economic crossroads: MP Harsha
In a press conference held recently at the Leader of the Opposition’s office, Member of Parliament, Dr. Harsha de Silva provided crucial insights into the current state of Sri Lanka’s economy. Central to the discussion were key developments surrounding the International Monetary Fund (IMF), challenges faced by the nation, and the imperative need for global […]
Launch of CSE sustainability reporting guide and awareness session
The Colombo Stock Exchange (CSE), in collaboration with the Global Reporting Initiative (GRI), developed the 3rd version of the sustainability reporting guide, which was ceremonially launched today at the Market Opening Bell Ringing ceremony held at the trading floor of the CSE. The publication is now available at www.cse.lk. Delivering the keynote address at this […]
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Fitch Ratings has assigned DFCC Bank PLC’s (A-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR8 billion a final National Long-Term Rating of ‘BBB(lka)’. The final rating is the same as the expected rating assigned on 19 October 2023 and follows the receipt of documents conforming to information already received. The […]