Category: Banking and Finance

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 […]

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 […]

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$ […]

The Asian Development Bank has asked Sri Lanka to step up the momentum of tsunami reconstruction and said it was awaiting agreement between Tamil Tiger rebels and the government over relief distribution.The Asian Development Bank has asked Sri Lanka to step up the momentum of tsunami reconstruction and said it was awaiting agreement between Tamil […]

LIC Lanka says Sri Lanka’s low income workforce could be covered by a group insurance policy partially funded by the government.LIC Lanka says Sri Lanka’s low income workforce could be covered by a group insurance policy partially funded by the government. The insurer’s board of directors have agreed to pitch the idea to the government, […]

HSBC Bank picked up Rs. 400 mn worth of leased backed paper, locking returns for up to four-years.HSBC Bank picked up Rs. 400 mn worth of leased backed paper, locking returns for up to four-years. People’s Leasing Co. issued the lease-backed securities in the form of a direct loan as a cost effective method to […]

Reconstruction of tsunami-hit infrastructure and homes along Sri Lanka’s ravaged coast has been delayed because pledged donor aid is only trickling in and relief agencies are still discussing plans, the government says.Reconstruction of tsunami-hit infrastructure and homes along Sri Lanka’s ravaged coast has been delayed because pledged donor aid is only trickling in and relief […]

Stiff political opposition stops Sri Lanka’s key local body from raising taxes by four percent, for the first time in 15 years.Stiff political opposition stops Sri Lanka’s key local body from raising taxes by four percent, for the first time in 15 years. The Western Provincial Council – which controls over 50 percent of Sri […]

Merchant Bank of Sri Lanka is believed to be in serious talks with India’s SBI Capital Markets Ltd to expand its corporate banking activity.Merchant Bank of Sri Lanka is believed to be in serious talks with India’s SBI Capital Markets Ltd to expand its corporate banking activity. MBSL has been on a roll over the […]

Japan is finalising a US$ 100 mn tsunami soft loan for Sri Lanka’s reconstruction work, expected to come through by mid next month.Japan is finalising a US$ 100 mn tsunami soft loan for Sri Lanka’s reconstruction work, expected to come through by mid next month. The soft loan will be over and above US$ 80 […]