Category: Banking and Finance

Sri Lanka’s Central Bank says it will save over Rs.600 million in minting costs as it gives a face lift to the island’s coin collection. Sri Lanka’s Central Bank says it will save over Rs. 600 million in minting costs as it gives a face lift to the island’s coin collection. Wednesday, Colombo : A […]

Sri Lanka’s Cooperative Leasing took its first tentative steps into the capital markets on Tuesday by pledging its tiny portfolio to raise cash for future funding needs.Sri Lanka’s Cooperative Leasing took its first tentative steps into the capital markets on Tuesday by pledging its tiny portfolio to raise cash for future funding needs. The two-year […]

As banks embrace sophisticated financial products, making their risk profile more complex, those specialising in custodian and asset management, are most vulnerable to future operational risks, a top Central Bank official said Monday.As banks embrace sophisticated financial products, making their risk profile more complex, those specialising in custodian and asset management, are most vulnerable to […]

Sri Lanka’s Central Bank is drawing up laws to keep close tabs on companies engaged in transfer of money into the country, an official said.Sri Lanka’s Central Bank is drawing up laws to keep close tabs on companies engaged in transfer of money into the country, an official said. Just under a million of the […]

Global banking giant HSBC Group opened its US$ 31 million call centre operation in Sri Lanka Tuesday, as local financial markets dived on news that seven soldiers had died following early morning landmine explosion in the North.Global banking giant HSBC Group opened its US$ 31 million call centre operation in Sri Lanka Tuesday, as local […]

Government’s new banking minister wants to restart Pramuka Bank which has a mountain of dud loans as a State owned bank while investing up to Rs.5 billion of tax payer money to the industry.Government’s new banking minister wants to restart Pramuka Bank which has a mountain of dud loans as a State owned bank while […]

Italy today signed off a deal that will write off Sri Lanka’s debt to the EU member state , adding up to Rs. 850 million (Euro 7.13 million). Italy today signed off a deal that will write off Sri Lanka’s debt to the EU member state , adding up to Rs. 850 million (Euro 7.13 […]

The District Courts this week cleared Mercantile Leasing to merge with Nations Trust Bank with effect from January 2006.The District Courts this week cleared Mercantile Leasing to merge with Nations Trust Bank with effect from January 2006. Trading in Mercantile Leasing will be suspended from December 22, to push the merger and to allocate shares […]

Defaulters’ turning a new leaf and government lending, has helped Bank of Ceylon’s bottomline grow by 20 percent for the nine months to Sept.’05. Defaulters’ turning a new leaf and government lending, has helped Bank of Ceylon’s bottomline grow by 20 percent for the nine months to Sept.’05. Sri Lanka’s largest bank, also saw its […]

Sri Lanka on Tuesday picked up a Rs.80 million (JP¥ 90 million) grant to draw up plans to renovate the Jaffna Teaching Hospital, the finance ministry said. Sri Lanka on Tuesday picked up a Rs. 80 million (JP¥ 90 million) grant to draw up plans to renovate the Jaffna Teaching Hospital, the finance ministry said. […]

State-run People’s Bank has met its performance targets for this year, but a promised capital injection is yet to materialise.State-run People’s Bank has met its performance targets for this year, but a promised capital injection is yet to materialise. The technically insolvent bank said Tuesday that its net profits were down 10.6 percent to Rs. […]

State-run National Savings Bank’s net profits slip 13 percent as rising interest rates and stiff competition from private banks puts pressure on its bottomline. State-run National Savings Bank’s net profits slip 13 percent as rising interest rates and stiff competition from private banks puts pressure on its bottomline. Selected Indicators: