Category: Banking and Finance

May 14, 2010 (LBO) – HSBC’s Sri Lankan unit’s March quarter profits rose 103 percent to 1.41 billion rupees from higher foreign exchange and fee-based incomes despite lower net interest margins and higher operating expenses, the accounts showed. Gross assets rose 7.1 to 174 billion rupees, HSBC Sri Lanka’s March accounts showed. HSBC Sri Lanka’s […]

May 14, 2010 (LBO) – Sri Lanka’s NDB Bank’s group net profit for the March 2010 quarter fell 34 percent to 299 million rupees from a year ago with interest income down but non-interest income increasing, latest accounts showed. Total income fell 13 percent to 3.1 billion rupees in the quarter, according to a stock […]

May 13, 2010 (LBO) – Sri Lanka’s Hatton National Bank (HNB) group profit fell nine percent to 650 million rupees in the March 2010 quarter from a year ago as it reduced lending slightly, a stock exchange filing said. Total income fell 11 percent to 8.99 billion rupees, the bank’s accounts showed. Interest income fell […]

Mar 13, 2010 (LBO) – Sri Lanka’s Nations Trust Bank group said profits were up 19 percent to 214 million rupees in the March 2010 quarter from a year earlier and loans have also started to grow amid lower interest rates. “The bank is financially strong with its funding and capital position in excellent shape. […]

May 11, 2010 (LBO ) – Sri Lanka’s PABC Bank’s net profit for the March 2010 quarter fell 27 percent to 67.5 million rupees from a year earlier, on weaker fee income despite maintaining margins and loan growth while rates fell, interim accounts showed. PABC’s gross assets grew to 22.1 billion rupees from 21.5 billion […]

May 06, 2010 (LBO) – Sri Lanka’s Seylan Bank group has reported profits of 195.5 million rupees in the March 2010 quarter from break-even levels a year earlier with wider interest margins boosting the bottom line. Group interest income fell 34.6 percent to 4,052 million rupees, but interest expenses fell at a faster 54. 6 […]

May 06, 2010 (LBO) – Sri Lanka’s Seylan Bank group has reported profits of 195.5 million rupees in the March 2010 quarter from break-even levels a year earlier with wider interest margins boosting the bottom line. Group interest income fell 34.6 percent to 4,052 million rupees, but interest expenses fell at a faster 54.6 percent […]

May 06, 2010 (LBO) – Sinhaputhra Finance, a regulated non-bank financial firm based in Sri Lanka’s hill country city of Kandy, has been given the nod for a listing on its second board, the Colombo Stock Exchange said. The firm will list 6,295,893 shares, the CSE statement said without elaborating. The firm will be listed […]

May 06, 2010 (LBO) – Sri Lanka’s listed Sampath Bank has sold down more of its stake in a Bangladesh finance firm, the bank said in a series of disclosures in the Dhaka stock exchange. On April 19 Sampath Bank as a corporate sponsor of the LankaBangla Finance said it had sold a total of […]

May 05, 2010 (LBO) – HSBC’s Asia Pacific head of corporate real estate, Richley Featherstone is visiting Colombo to meet senior management and the head of the bank’s operations in Sri Lanka and Maldives. The corporate real estate department acts as the custodian of HSBC premises providing the right property at the right time to […]

May 01, 2010, JAFFNA, Sri Lanka (LBO) – Sri Lanka’s finance companies are expanding with confidence returning to the sector following a panic 2009, though regulators are working on a handful of troubled firms, Central Bank Governor Nivard Cabraal said. Sri Lanka’s Bartleets Financial Services and Central Investments and Finance Limited (CIFL) opened branches in […]

Apr 29, 2010 (LBO) – Sri Lanka will take over ‘abandoned property’ of depositors in banks to start a mandatory deposit insurance scheme, the island’s central bank, which is the banking regulator, has said. The central bank said it had ‘temporary custody’ of 371 million rupees of ‘abandoned property’ unclaimed by depositors in licensed commercial […]