Cabinet approval to reorganize Non-Bank Financial Institutions Supervision Department
Oct 13, 2020 (LBO) – Sri Lanka’s Cabinet of Ministers has approved a proposal to completely reorganize the Department of Supervision of Non-Bank …
Banking and Finance
DIMO and NTB partner to offer exclusive leasing solutions
DIMO, the only Authorized General Distributor for Mercedes-Benz and Jeep in Sri Lanka, has continued to highlight its strong commitment towards providing …
Sri Lanka trade deficit improves in Aug 2020
Oct 12, 2020 (LBO) – Sri Lanka’s trade deficit improved on a year-on-year basis with the deficit in the trade account in August 2020 narrowing to …
WB says SL economy to contract by 6.7-pct in 2020, Smart policies for informal workers key for recovery
Oct 08, 2020 (LBO) – The COVID-19 crisis in Sri Lanka has substantially clouded the outlook and exacerbated an already challenging macroeconomic …
Cabinet approves new orders for ‘Special Deposit Accounts’
Oct 07, 2020 (LBO) – The approval of the Cabinet of Ministers was granted at their meeting held in April 2020 for the issuance of orders under the …
Fitch places Abans Finance’s ‘BB+(lka)’ rating on Rating Watch Evolving
Oct 07, 2020 (LBO) – Fitch Ratings has placed Abans Finance PLC’s (AFP) National Long-Term Rating of ‘BB+(lka)’ on Rating Watch Evolving …
Commercial Bank receives USD 50Mn equity from International Finance Corporation
Oct 07, 2020 (LBO) – The Commercial Bank of Ceylon has announced the completion of all formalities relating to the private placement of shares with the …
Economists urge decisive action to prevent emerging Sri Lankan debt crisis
Oct 02, 2020 (LBO ) – A panel of eminent economists urged that the Government take credible and decisive action to prevent a painful debt crisis in Sri …
Stay home, stay safe with PickMe and Nations Trust Bank American Express
Nations Trust Bank American Express has partnered with PickMe to make it convenient and rewarding to have your favourite cuisine and groceries delivered to …
Advocata to live stream session on “How can we improve Sri Lanka’s debt sustainability” today
Sep 30, 2020 (LBO) – The Advocata Institute has launched its latest public policy discussion series ‘DeepDive’. This series commences …
Abans to divest its stake in Abans Finance to Softlogic Capital
Sep 29, 2020 (LBO) – Abans PLC, the controlling shareholder of Abans Finance PLC, will be selling its stake in the finance company to Softlogic Capital PLC, …
Moody’s downgrades ratings of BOC, HNB & Sampath Bank; outlooks stable
Sep 29, 2020 (LBO) – Moody’s Investors Service has today downgraded the long-term foreign currency deposit ratings of Bank of Ceylon (BOC), Hatton …
CCC organize 20th Sri Lanka Economic Summit on 1-2 December 2020
Sep 28, 2020 (LBO) – The Ceylon Chamber of Commerce will be organizing the 20th Sri Lanka Economic Summit (SLES) on the 1st and 2nd of December 2020 at …
Sampath Bank names Rushanka as Dy Chair, Keshini joins as independent Director
Sampath Bank PLC announced the elevation of Rushanka Silva as Deputy Chairman (Non-Independent, Non-Executive Director) and Deshal De Mel as Senior Independent …
Nations Trust Bank goes green with e-Leaflets
Nations Trust Bank is well-known in the banking space for its commitment to digital accessibility and social responsibility. Thus, as the next-step in its …
Central Bank releses ‘Sri Lanka Socio Economic Data – 2020’
“Sri Lanka Socio Economic Data – 2020”, the annually published data folder of the Central Bank of Sri Lanka, is now available for public information. The …
Opinion: Driving Value through mastering Internal Capital Adequacy Assessment Process
By Rajith Perera, Partner/Principal, Financial Accounting Advisory Services, Ernst & Young, Sri Lanka COVID-19 pandemic represents the biggest test of the …
Over 100 complaints against state banks & their affiliates so far: Finance Ministry
Sep 21, 2020 (LBO) – The committee appointed to look into the irregularities in four state banks during the last 5 years has received over 100 complaints so …
ICRA Lanka reaffirms the ratings of Vallibel Finance PLC
Sep 18, 2020 (LBO) – ICRA Lanka Limited has reaffirmed the issuer rating of Vallibel Finance PLC (VFP or the Company) at [SL]BBB (Pronounced SL triple B) …
Affordable interest rates from Seylan Bank to support export SME’s
Sri Lanka has always been an entrepreneurial nation, with small business as the backbone of the economy and the labour force. Small medium enterprise …