Category: Banking and Finance
Softlogic Life secures long-term growth capital from Norfund and OP Finnfund
Sri Lanka’s top notch insurer Softlogic Life Insurance PLC has secured a USD 15Mn landmark 5-year Tier 2 loan facility from Norfund and OP Finnfund Global Impact Fund I, that will be the initial part and set the next phase of growth for the immensely successful life insurer that has established itself as the industry […]
ComBank & Mastercard launch SL’s first Dynamic Currency Conversion for online payments
As part of Commercial Bank of Ceylon’s sustained efforts to strengthen tourism-related businesses and improve convenience for foreign travellers, the Bank has partnered with Mastercard to introduce Sri Lanka’s first Dynamic Currency Conversion (DCC) capability for online payments, marking a significant milestone in the country’s digital payments landscape. Enabled via the Mastercard Payment Gateway Services […]
Banks Association pledges strong support for economic revival
The Sri Lanka Banks Association (SLBA) in a meeting with the Governor of the Central Bank of Sri Lanka (CBSL) today pledged its fullest support to revive the country’s economy following the damage inflicted by Cyclone Ditwah. The banks represented by the Association stated that a detailed impact assessment has already been initiated across banks […]
Sri Lanka economic summit opened with focus on recovery and resilience after cyclone Ditwah
The Ceylon Chamber of Commerce opened the Sri Lanka Economic & Investment Summit on Tuesday with a renewed sense of purpose, reframing the annual event as a platform for national recovery following the devastation caused by Cyclone Ditwah. Addressing more than 800 delegates, including over 100 overseas investors, the Chamber’s Chairperson, Krishan Balendra began by […]
Telecom operators and partners accelerate restoration of connectivity after cyclone Ditwah
Sri Lanka’s national telecommunication operators, in close coordination with government authorities, are intensifying round-the-clock recovery efforts to reconnect communities battered by severe flooding and landslidestriggered by Cyclone Ditwah since 27 November. The disaster has claimed 334 lives, left nearly 400 people missing or unaccounted for, and affected more than 1.3 million individuals nationwide, with rising […]
Sri Lanka’s Central Bank keeps policy rate unchanged
The Monetary Policy Board, at its meeting held yesterday, decided to maintain the Overnight Policy Rate (OPR) at the current level of 7.75%. The Board arrived at this decision after carefully considering evolving developments and the outlook on both domestic and global fronts. The Board is of the view that the current monetary policy stance […]
Acquisitions of Small Sri Lanka Banks Neutral to BOC’s and PB’s Ratings: Fitch Ratings
Fitch Ratings says the proposed transfers of state-owned shares – of Housing Development Finance Corporation Bank of Sri Lanka (HDFC, BB+(lka)/Rating Watch Positive) to Bank of Ceylon (BOC, CCC+/AA-(lka)/Stable) and of State Mortgage & Investment Bank (SMIB, BB(lka)/Rating Watch Positive) to People’s Bank (Sri Lanka) (PB, AA-(lka)/Stable) – are unlikely to affect the acquirers’ ratings. […]
‘s &’s National Ratings on Rating Watch Positive on Proposed Acquisition
Fitch Ratings has placed Housing Development Finance Corporation Bank of Sri Lanka’s (HDFC) National Rating of ‘BB+(lka)’ and State Mortgage & Investment Bank’s (SMIB) National Rating of ‘BB(lka)’ on Rating Watch Positive (RWP). HDFC’s rating was previously on a Negative Outlook. Key Rating Drivers Acquisition on the Cards: The rating action follows the announcement by the […]
‘s 47-pct y-o-y increase in Group PAT, reaching Rs.34.7Bn
Sustaining its upward momentum, HNB delivered strong results in the first nine months of Group PAT reached Rs 34.7 Bn, marking a 47% YoY increase, while the Bank’s PAT grew by 42% YoY to Rs 31.5 Bn. Commenting on the performance, Mr. Nihal Jayawardena, Chairman of HNB PLC stated, “The period under review has been […]
Hayleys sustains growth momentum, reports PBT of Rs.13.33Bn in first half of 2025/26
Achieves Revenue and PBT growth of 13% and 7% during the 2nd quarter of the year supported by both domestic and export-oriented businesses Ranked as Sri Lanka’s leading listed corporate in the 32nd edition of the LMD 100 Accelerates growth through strategic expansion in new verticals The Hayleys Group sustained its strong growth trajectory during […]
NVQ Level 4 accreditation for Barista, Setting new benchmark in coffee education
Barista Coffee Lanka (Pvt) Ltd proudly announced that it has been awarded National Vocational Qualification (NVQ) Level 04 accreditation under the Tertiary and Vocational Education Commission (TVEC). The NVQ Level 04Barista Training Program, the first of its kind in Sri Lanka, was conceptualized, co-created, and fully funded by Barista. This achievement underscores the company’s long-term […]
ADB approves USD100 Mn to strengthen macroeconomic resilience, transparency in Sri Lanka
The Asian Development Bank (ADB) has approved a $100 million financing package to build on Sri Lanka’s progress toward macroeconomic stability and to help achieve sustainable growth following the economic crisis. This will be done by strengthening public expenditure management, improving revenue mobilization, and fostering private sector participation. “Sri Lanka has made commendable progress in […]