Category: Banking and Finance

The opposition is blaming bad economic policies for rapid price rises.The opposition is blaming bad economic policies for rapid price rises. The Treasury has made several attempts to correct macro-economic imbalances, but it has been thwarted by its own coalition partners in some cases. The Treasury has at last corrected fuel prices, preventing the build […]

Ten years ago bankers focused on decentralizing their operations.Ten years ago bankers focused on decentralizing their operations. But now technology and customer demands are driving the industry to pay more attention on centralizing their business operations. “Now the trend is towards centralization. Most of the banks in Colombo are also for that kind of thing,” […]

Asia Capital strengthened its position in the financial sector, finalised a deal to pick up a controlling equity stake in Finance and Land Sales Limited (FLSL) on Thursday.Asia Capital strengthened its position in the financial sector, finalised a deal to pick up a controlling equity stake in Finance and Land Sales Limited (FLSL) on Thursday. […]

Standard Chartered Bank is offering zero interest rate instalment schemes on purchases made on its credit cards.“People usually have about two or three cards in their wallet, but we want to be the preferred card, when it comes to purchasing things as there is a lot of value addition,” says Vishnu Mohan, CEO Standard Chartered […]

Pramuka Bank’s operations have been shifted to the Central Bank’s Staff Training Centre in Rajagiriya, freeing up precious millions to pay up depositors, the Central Bank said Thursday. Pramuka Bank’s operations have been shifted to the Central Bank’s Staff Training Centre in Rajagiriya, freeing up precious millions to pay up depositors, the Central Bank said […]

Standard Chartered Bank is offering zero interest rate instalment schemes on purchases made on its credit cards.“People usually have about two or three cards in their wallet, but we want to be the preferred card, when it comes to purchasing things as there is a lot of value addition,” says Vishnu Mohan, CEO Standard Chartered […]

The Public Enterprise Reform Commission says it is working on 30 state firms which will be restructured in the coming months.rnrn Among the rnhitlist are institutions like Shell Gas, Elkaduwa Plantations and Lanka Salt, rnwhich were previously earmarked for privatisation, PERC said in its website.rn However, Sri rnLanka Telecom is a notable absentee.rn Among the […]

Deutsche Bank on Wednesday inked a strategic alliance with Hatton National Bank to offer corporate finance services in Sri Lanka. The move is similar to a model adopted by Deutsche in India, where they team up with domestic banks to provide services to mid and upper companies, explains R Theagarajah, Senior Deputy General Manager HNB.rn […]

The Treasury has put a lid on government owned entities from investing surplus funds through private owned financial institutions with immediate effect. The Treasury has put a lid on government owned entities from investing surplus funds through private owned financial institutions with immediate effect. The Treasury is going by an existing rule under Section 11 […]

Ending months of tragic tales, the Central Bank says it is ready to reimburse small depositholders of the failed Pramuka Savings & Development Bank, once liquidation process gets off the ground shortly. Ending months of tragic tales, the Central Bank says it is ready to reimburse small depositholders of the failed Pramuka Savings & Development […]

Government may have to re-capitalize People’s Bank for the third time, if the bank is to meet capital adequacy requirements next year.Government may have to re-capitalize People’s Bank for the third time, if the bank is to meet capital adequacy requirements next year. With privatization no longer an option, the bank is to forward alternate […]

The BBB+ (sri) rated People’s Bank has wiped off its negative networth in March, but is still short of Rs. 11 bn to meet minimum capital requirements. The BBB+ (sri) rated People’s Bank has wiped off its negative networth in March, but is still short of Rs. 11 bn to meet minimum capital requirements. Desperate […]