Category: Banking and Finance
High impairment provisions neutralise solid 6-month operational growth of ComBank Group
The Commercial Bank Group has reported a six-month financial performance that mirrors the impacts of the country’s macro-economic variables, with solid operational gains negated by extraordinary provisioning in the second quarter for impairment charges and other losses. Comprising of the Commercial Bank of Ceylon PLC, its subsidiaries and an associate, the Group posted a gross […]
Seylan Bank records Rs.1.5Bn PAT for 1H 2022
Seylan Bank recorded a Profit after Tax of Rs. 1,504 Mn for the 6 months ended 30th June 2022 against Rs. 2,105 Mn reported in the corresponding period of 2021. This has been seen by financial analysts as mcommendable given the extremely challenging and adverse conditions the Bank operated in, with Sri Lanka facing its […]
Sri Lanka electricity tariff revision 2022
• CEB’s proposal to increase electricity tariffs by 229 percent is rejected – capping off tariff hikes at 75 percent • Subsidies up to 120 units in domestic sector • 50 percent of the price increase for tourism sector will be implemented after 3 months • 1.5% discount on electricity bill payments in dollars • […]
SL – Singapore Biz Council to look at cooperation in agri, food processing, FMCG imports and exports in 2022/23
The 25th Annual General Meeting of the Sri Lanka – Singapore Business Council (SLSBC) of The Ceylon Chamber of Commerce was held on 27th July, 2022 via Zoom. The SLSBC was inaugurated in 1997 under the aegis of the Ceylon Chamber of Commerce with the objective of promoting trade, investments, tourism and services between Sri […]
Port City Colombo SEZ introduced at the Commonwealth Business Forum 2022 Kigali, Rwanda
CHEC Port City Colombo in collaboration with the Colombo Port City Economic Commission successfully introduced the Special Economic Zone to 50 plus potential investors and members at a specially curated Breakfast meeting held at the Business Forum Event. The event was a global platform for Sri Lanka’s first service-oriented Special Economic Zone (SEZ) to be […]
Pan Asia Bank upgrades customer security with Epic Lanka’s access control server solution
Further consolidating its advanced Information Technology (IT) Infrastructure and Applications required for optimal functioning, Pan Asia Bank announced the installation of a holistic security platform to combat frauds during Credit and Debit card transactions. The 3D Access Control Sever (ACS) solution was developed for the Bank by Epic Lanka, Sri Lanka’s pioneer Fintech and payment […]
Pan Asia Bank partners Union Assurance to extend protection and healthcare to its valued customers
Pan Asia Bank recently signed an agreement with Union Assurance PLC to offer its valued customer base a wide range of Life, Health, and Investment insurance solutions. As part of this strategic tie-up, Union Assurance will work closely with Pan Asia Bank branches to provide comprehensive solutions to protect the lifestyles, dreams, and ambitions of Pan Asia customers. Pan Asia Bank’s Managing […]
DIMO together with Kalmar uplifts Sri Lanka’s port and inland container terminal operations
DIMO, a leading diversified conglomerate in Sri Lanka, and Kalmar, a global industry forerunner in port and inland container terminal automation and in energy-efficient container handling solutions, are geared to enhance and uplift local container terminal operations to the next level. This partnership reflects DIMO’s commitment to continuously fuelling the dreams and aspirations of the […]
Blockchain platform SORA announced launch XOR currency in Sri Lanka
XOR – a blockchain-based currency under SORA – a blockchain-platform that holds XOR (the currency code for the cryptocurrency SORA) announced the launch of the cryptocurrency in Sri Lanka in July 2022. SORA (XOR) isn’t owned by any single nation or individual, but belongs to all of its users, and is designed as a new […]
Sri Lanka President steps down officially
Sri Lanka’s Parliamentary Speaker Mahinda Yapa Abeywardena said President Gotabaya Rajapaksa has officially stepped down from his post. He made the announcement speaking to reporters from his official residence, earlier on Friday. Abeywardena said as per Article 38 (1) of the constitution he received the letter of resignation of President Gotabaya Rajapaksa , on Friday […]
‘s Bank, Commercial Bank &’s National Ratings on Watch Negative
Fitch Ratings has maintained People’s Bank’s National Long-Term Rating of ‘AA-(lka)’ on Rating Watch Negative. The rating agency has also maintained Commercial Bank’s National Long-Term Rating of ‘AA-(lka)’ on Rating Watch Negative and maintained the ‘A(lka)’ ratings on its subordinated debt on Rating Watch Negative. Meanwhile, Fitch Ratings has maintained Hatton National Bank’s National Long-Term […]
ComBank ranked among world’s Top 1000 banks for 12th consecutive year
The globally-respected UK magazine ‘The Banker’ has once again included the Commercial Bank of Ceylon in its prestigious ‘Top 1000 World Banks’ ranking, making Commercial Bank the only Sri Lankan bank to be ranked among the elite global giants in banking for 12 consecutive years. This ranking of the global who’s who of banking is […]