Fitch downgrades Co-operative Insurance’s National IFS to ‘BBB(lka)’; Maintains negative watch
Fitch Ratings has downgraded Co-operative Insurance Company PLC’s (CICPL) National Insurer Financial Strength (IFS) Rating to ‘BBB(lka)’ from …
Banking and Finance
Fitch downgrades five SL finance and leasing companies’ ratings; Maintains RWN
Fitch Ratings has downgraded the National long-term ratings of five Sri Lankan finance and leasing companies (FLCs) after the recent sovereign downgrade and …
Milinda Moragoda discusses priority areas for cooperation with India’s national security advisor
Sri Lanka’s High Commissioner to India Milinda Moragoda met with the National Security Advisor of India Shri Ajit Kumar Doval, on 16 January and …
Ombudsmen of Sri Lanka and Türkiye signs bilateral cooperation MoU
On the sidelines of the International Ombudsman Conference 2023, the Office of the Parliamentary Commissioner for Administration (Ombudsman) of Sri Lanka and …
Fitch downgrades National Long-Term Ratings of 10 Sri Lankan banks
Fitch Ratings has downgraded the National Long-Term Ratings of 10 Sri Lankan banks following the recent sovereign downgrade and recalibration of the …
Central Bank introduces measures to reduce overdependence on Standing Facilities
The liquidity deficit in the domestic money market, which remained significantly high during the first half of 2022, declined in the latter part of 2022. …
ComBank introduces ‘Visa Direct’ & ‘Mastercard Send’ card-to-card fund transfers – a first in SL
The Commercial Bank of Ceylon has announced the enabling of ‘Visa Direct’ and ‘Mastercard Send’ card-based fund transfer facilities for the first time …
David Cameron visits Port City Colombo
Former Prime Minister of the United Kingdom, David Cameron, visited Port City Colombo development project during a private trip to the island. Cameron engaged …
Central Bank directs Kanrich Finance to settle liabilities of depositors
The Monetary Board of the Central Bank of Sri Lanka as a measure to strengthen the Non-Bank Financial Institutions Sector under the ‘Masterplan for …
USAID, Keells & HNB Partner to Provide USD 4Mn Lending Facility in Sri Lanka
The United States Agency for International Development (USAID) coordinates with Keells Supermarkets and Hatton National Bank (HNB) on an innovative supply …
Sampath Bank partners with Dialog to introduce eZ Banking
In an effort to triple its customer touch points and add unparalleled levels of banking convenience to its valuable customers, Sampath Bank has taken a …
Fitch Downgrades Bank of Ceylon’s Local Currency IDR to CCC-; Maintains RWN
Fitch Ratings has downgraded Bank of Ceylon’s (BOC) Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘CCC’ and …
Cinnamon Air Resumes Daily Scheduled Flights in Paradise
Cinnamon Air, Sri Lanka’s premier domestic airline, has resumed daily scheduled flights after a temporary suspension during the COVID-19 pandemic. The …
ComBank raises Rs10bn after debenture oversubscribed on opening day
The Commercial Bank of Ceylon has announced that its Rs 10 billion debenture issue closed within hours of opening after it was oversubscribed on opening day, …
CBSL expects downward adjustment in bank interest rates; looking at imposing administrative measures
The Monetary Board of the Central Bank has noted with concern the anomalous rise in market interest rates, particularly deposit interest rates and short term …
Fitch Withdraws Sarvodaya Development Finance’s Rating
Fitch Ratings has withdrawn Sarvodaya Development Finance PLC’s (SDF) National Long-Term Rating of ‘B+(lka)’. The rating was on Rating Watch …
CFA Society Sri Lanka joins CSE to ring the bell for financial literacy
“Investors need to be aware of the products and services that capital markets and financial markets offer.” – CSE Chairman “Financial Literacy is a …
Operationally strong ComBank Group posts healthy topline growth, amidst prudent provisioning
The Commercial Bank of Ceylon Group has posted a strong operational performance in the first nine months as well as in the third quarter despite the continuing …
Sampath Bank moves ahead steadily to prove its ability to withstand strong headwinds
Amidst widespread economic uncertainty during the year 2022, Sampath Bank maintained a strong capital base and a steady liquidity profile. Proactive efforts to …
Fitch Assigns Commercial Bank’s Basel III Subordinated Debt Final A(lka); on RWN
Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB, AA (lka)/Rating Watch Negative (RWN)) proposed Sri Lankan rupee denominated Basel …