Category: Banking and Finance

A name, brand and balance sheet makeover later, Pan Asia Bank Corporation Limited says it is talking to an undisclosed foreign bank and the National Savings Bank to build its housing loan portfolio.A name, brand and balance sheet makeover later, Pan Asia Bank Corporation Limited says it is talking to an undisclosed foreign bank and […]

Sri Lanka’s Central Bank Tuesday raised the price of its commemorative gold coins by 43.75 percent as it ended a four-month suspension on the sale of precious metal coins.Sri Lanka’s Central Bank Tuesday raised the price of its commemorative gold coins by 43.75 percent as it ended a four-month suspension on the sale of precious […]

The Central Bank on Tuesday warned the public that Kandy based Lankawin Finance Company Limited was taking deposits without a license under the Finance Company’s Act.The Central Bank on Tuesday warned the public that Kandy based Lankawin Finance Company Limited was taking deposits without a license under the Finance Company’s Act. “The public is informed […]

The ESC tax bomb could land on your doorstep next week but if you ignore it, you’re in for bigger damages. The ESC tax bomb could land on your doorstep next week but if you ignore it, you’re in for bigger damages. The Inland Revenue Dept is targeting Rs 1.5 bn this year from the […]

The Central Bank has resumed sales for commemorative gold and silver coins from Friday after a temporary halt following an upsurge in world market prices. The Central Bank has resumed sales for commemorative gold and silver coins from Friday after a temporary halt following an upsurge in world market prices. Speculators were minting on the […]

Lanka Ratings, Sri Lanka’s second rating agency, is offering indicative ratings, sector reports and financial tips as it tries to immerse itself in the fledgling debt market. Lanka Ratings, Sri Lanka’s second rating agency, is offering indicative ratings, sector reports and financial tips as it tries to immerse itself in the fledgling debt market. On […]

Hatton National Bank (HNB) is tying up its insurance subsidiary and other goods and service providers to spruce up its Senior Citizens savings account.Hatton National Bank (HNB) is tying up its insurance subsidiary and other goods and service providers to spruce up its Senior Citizens savings account. The revamped account offers it’s over 55 year […]

The Inland Revenue says it will call for fresh applications for amnesty since the amnesty law of 2003 was repealed and a new law was introduced last month.The Inland Revenue says it will call for fresh applications for amnesty since the amnesty law of 2003 was repealed and a new law was introduced last month. […]

The Inland Revenue says it is due five billion rupees in Goods and Services Tax (GST) and that companies and individuals must pay up before December 31, or face penalties.The Inland Revenue says it is due five billion rupees in Goods and Services Tax (GST) and that companies and individuals must pay up before December […]

Bank of Ceylon picked up Rs. 250 mn worth of leased backed paper, locking returns for up to four-years. Bank of Ceylon picked up Rs. 250 mn worth of leased backed paper, locking returns for up to four-years. People’s Leasing Co. (PLC) issued the lease-backed securities in the form of a direct loan as a […]

National Development Bank (NDB) has secured an AA (sri) rating, while its commercial and housing banking units were each rated AA-(sri) by Fitch Ratings Lanka Ltd. NDB’s subordinated unsecured debt walked off with AA-(sri) (double AA minus) and NDB Bank – its commercial banking arm – picked up a A+(sri) (A plus) rating for their […]

National Development Bank (NDB) is expecting a green light to an amendment to its Act to merge with its commercial banking subsidiary NDB Bank. National Development Bank (NDB) is expecting a green light to an amendment to its Act to merge with its commercial banking subsidiary NDB Bank. The bill, submitted as an urgent one […]