Category: Banking and Finance

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 […]

Fitch Ratings Lanka Ltd (FRL) assigns BBB+ (sri) (Triple B plus) national rating for Implied Long-term unsecured Senior Debt of People’s Bank (PB). Fitch Ratings Lanka Ltd (FRL) assigns BBB+ (sri) (Triple B plus) national rating for Implied Long-term unsecured Senior Debt of People’s Bank (PB). BBB+ (sri) long-term rating indicates that there is currently […]

The Central Bank has decided to wind up Pramuka Savings & Development Bank’s operations, following a Monetary Board meeting late Tuesday. The Central Bank has decided to wind up Pramuka Savings & Development Bank’s operations, following a Monetary Board meeting late Tuesday. The Bank has opted for it after carefully studying Asia Capital’s restructuring proposal […]

Trade unions in People’s Bank are calling upon members who have been involved in the GoldQuest scheme to come forward and seek their assistance if they are scared to come forward individually.Trade unions in People’s Bank are calling upon members who have been involved in the GoldQuest scheme to come forward and seek their assistance […]

Customers of GoldQuest’s controversial network marketing scheme, who have not received gold coins and those whose cards have been used by third parties without their knowledge, have started get their money back after complaining to the credit card issuer. Customers of GoldQuest’s controversial network marketing scheme, who have not received gold coins and those whose […]

GoldQuest International Ltd, have responded to our story titled ‘Gold Dispute’ on the August 02. GoldQuest International Ltd, have responded to our story titled ‘Gold Dispute’ on the August 02. A faxed message from GoldQuest said: “Paragraph one states, ‘Customers of GoldQuest’s controversial network marketing scheme, who have not received gold coins and those whose […]

State run Bank of Ceylon is coming up with a 14+ savings account targeting the growing 14 to 18 year labour market and student population. State run Bank of Ceylon is coming up with a 14+ savings account targeting the growing 14 to 18 year labour market and student population. Kicking off in August, the […]

First Capital Group’s Chief Executive Ajith Devasurendra quit on Thursday, sparking off speculations that Singer (Sri Lanka) may pick up his stake.First Capital Group’s Chief Executive Ajith Devasurendra quit on Thursday, sparking off speculations that Singer (Sri Lanka) may pick up his stake. After nearly 20 years of successful partnership, Devasurendra said he is selling […]