Category: Banking and Finance

The Public Enterprises Reform Commission (PERC) has billed just over a million rupees for the government so far, selling its minority stakes in listed companies.The Public Enterprises Reform Commission (PERC) has billed just over a million rupees for the government so far, selling its minority stakes in listed companies. Small parcels including stakes in Commercial […]

Destitute Hambantota entreprenuers, who were hit by the tsunami, then battered by the government’s buffer zone rules, are now caught in another vicious trap as banks value their remaining land at rock bottom prices.Destitute Hambantota entreprenuers, who were hit by the tsunami, then battered by the government’s buffer zone rules, are now caught in another […]

People’s Bank said last year’s profits beat targets set in its restructuring plan despite increasing pressure on margins and higher provision for staff retirement. People’s Bank said last year’s profits beat targets set in its restructuring plan despite increasing pressure on margins and higher provision for staff retirement. However the State bank employees protested against […]

Treasury Secretary says the country’s risk-averse banking sector has failed to assist entrepreneurs especially in the small and medium sector.Treasury Secretary says the country’s risk-averse banking sector has failed to assist entrepreneurs especially in the small and medium sector. Doctor Jayasundera was speaking at the launch of the country’s first bank for small and medium […]

State-run People’s Bank is counting on an asset revaluation plus a Rs. 8 bn cash injection from the Asian Development Bank to stay afloat in the coming years.State-run People’s Bank is counting on an asset revaluation plus a Rs. 8 bn cash injection from the Asian Development Bank to stay afloat in the coming years. […]

The Insurance Board of Sri Lanka has posted Lasinee Seresinhe as it new Director General.The Insurance Board of Sri Lanka has posted Lasinee Seresinhe as it new Director General. Seresinhe was the Officer-in-Charge for the Insurance Board of Sri Lanka for over two years and has been serving the Securities and Exchange Commission (SEC) as […]

Mar 31, 2005 (LBO) – The Millennium Challenge Corporation has asked Sri Lanka to whip its economic plan into suitable shape to access funds in its US$ 1 bn kitty. In 2003, Sri Lanka was among a first batch of 16 developing and least developed countries selected to apply for funding from the Millennium Challenge Account (MCA). […]

The birth of new financial services powerhouse that seeks to take capital-related activities to a new paradigm and across national borders, was announced today by the Bartleet Group, Sri Lanka’s pioneering financial services conglomerate.The birth of new financial services powerhouse that seeks to take capital-related activities to a new paradigm and across national borders, was […]

The Commercial Bank of Ceylon has extended its reach in Bangladesh with the opening of a branch at the Bangladesh Export Processing Zone Authority (BEPZA) complex in Dhanmondi, a main commercial hub of Dhaka.The Commercial Bank of Ceylon has extended its reach in Bangladesh with the opening of a branch at the Bangladesh Export Processing […]

Merchant Bank of Sri Lanka will expand its fee based capital market service portfolio in a tie up with Indian investment banking giant SBI Caps on Wednesday. Merchant Bank of Sri Lanka will expand its fee based capital market service portfolio in a tie up with Indian investment banking giant SBI Caps on Wednesday. Among […]

Over 3000 employees from the three state banks and the Central Bank want the government to reintroduce an employer contributed pension scheme.Over 3000 employees from the three state banks and the Central Bank want the government to reintroduce an employer contributed pension scheme. A Tuesday lunch hour protest saw staff from people’s bank, Bank of […]

The Asian Development Bank admits it has not given a cent to Sri Lanka so far, as the US$ 150 mn tsunami assistance programme will only go before its board in mid April, a top official said.The Asian Development Bank admits it has not given a cent to Sri Lanka so far, as the US$ […]