Fitch affirms Sri Lanka’s People’s Bank at AA -(lka); Outlook Stable
Fitch Ratings has affirmed the National Long-Term Rating of People's Bank (Sri Lanka) (PB) at 'AA-(lka)'. The Outlook is Stable. KEY RATING DRIVERS PB's …
Banking and Finance
Fitch Affirms Bank of Ceylon at CCC and AA (lka)/Stable
Fitch Ratings has affirmed Bank of Ceylon's (BOC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'CCC'. The ratings do not carry an …
Support Measures Ease Pressure on Sri Lankan Banks’ Credit Profiles: Fitch Ratings
Sri Lankan banks' performance in 2020 and 1Q21 exceeded Fitch Ratings’ initial expectations, thanks to stimulus and regulatory relief measures. However, we …
Large Sri Lankan Banks Most Exposed to Sovereign Risk: Fitch Ratings
Sri Lanka's largest banks are the most susceptible to heightened sovereign risk due to their higher exposure to foreign-currency denominated government …
NDB Secures USD75Mn from the United States Development Finance Corporation
NDB Bank disclosed that they have secured a long term funding line of USD75Mn from the Development Finance Corporation of the United States to further the …
Pressure on Sri Lankan Corporate Ratings from Finance Subsidiaries’ Growth: Fitch Ratings
Sri Lankan rated corporates with financial-service (FS) subsidiaries face a rise in Fitch-adjusted debt and potential rating pressure due to the …
Fitch rates Commercial Bank’s Basel III Subordinated Debt ‘A(EXP)(lka)’
Fitch Ratings has assigned Commercial Bank's proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR10 billion an …
Risks for Sri Lankan Banks May Rise on End of Restriction on ISB Investments: Fitch Ratings
The end of the suspension on Sri Lankan banks' investments in international sovereign bonds (ISBs) issued by the Sri Lanka sovereign (CCC) has the potential to …
Sampath Bank concludes Rs.750Mn structuring & investing in LVL Energy Fund’s unlisted bond
Sampath Bank PLC announced that it had recently concluded the structuring and investment of an unquoted, secured, non-convertible, deep-discounted bond …
INSEE Cement strengthens commitment to restore Nation on world environment day
INSEE Cement, Sri Lanka’s only fully integrated manufacturer of cement, reaffirmed its commitment towards ‘a restored nation’, answering the global call …
CSE reports highest quarterly earnings surpassing LKR 100bn milestone: Softlogic Research
The CSE witnessed another landmark, as reported earnings crossed the LKR 100bn mark for the first time in the history of the CSE during the first quarter of …
Standard Chartered facilitates a trade loan to import 4 million COVID-19 vaccine doses for SPC
Standard Chartered Sri Lanka has successfully financed the import of 4 million COVID-19 vaccine doses for the State Pharmaceuticals Corporation by facilitating …
Orient Finance records threefold increase in net operating income
Orient Finance PLC reported a profit before tax of LKR 193 Mn for the 2020-21 financial year, reflecting a year-over-year growth of 144 per cent. The …
Luxury SUVs for MPs while imports for doctors, general public held indefinitely: CMTA
The Ceylon Motor Traders Association (CMTA) has expressed its concerns on the decision the Government has taken to import 400 vehicles – including 227 luxury …
Central Bank requests banks to carry out essential banking services adhering to guidelines
Sri Lanka's Central Bank requests banks to carry out essential banking services, strictly adhering to guidelines issued in providing banking services under the …
Sri Lanka Investment Forum 2021 kicks off
Sri Lanka Investment Forum 2021 was inaugurated this morning by His Excellency the President Gotabaya Rajapakse on a virtual platform. Today’s proceedings …
Fitch rates Singer Finance’s Sub Debt Final ‘A-(lka)’
Fitch Ratings has assigned Singer Finance (Lanka) PLC's (SFL, A+(lka)/Stable) Sri Lanka rupee-denominated subordinated unsecured debentures a final national …
Port City Colombo opens gates for investment
Port City Colombo, Sri Lanka’s brand-new reclaimed land, slated as the “Gateway to South Asia”, now officially becomes the country’s first service …
FIU imposes Rs. 4 Mn penalties for 1Q 2021 to enforce compliance on Financial Institutions
As the regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) in Sri Lanka, the Financial Intelligence Unit (FIU) has imposed …
Sampath Bank Digitalizes KYC Process in Partnership with Dept for Registration of Persons
Sampath Bank entered into a Memorandum of Understanding (MOU) with the Department for Registration of Persons (DRP) to facilitate customer identification and …