Category: Banking and Finance
ComBank Group navigates devaluation impact in complex Q1 performance
Total assets cross Rs 2 Tn., first private sector bank to achieve the milestone Mainly influenced by Rupee devaluation, loan book grows by Rs 133 Bn., deposits by Rs 234 Bn. in 3 months 3-month net operating income up 66% to Rs 28.3 Bn. Posts other operating income of Rs 11.3 Bn. primarily from realized […]
Commercial Bank appoints Sanath Manatunge as MD/CEO
Sellathurai Prabagar appointed new COO in smooth succession at country’s top private sector bank The Commercial Bank of Ceylon PLC has announced the appointment of Chief Operating Officer Mr Sanath Manatunge as Managing Director and CEO effective 12th May 2022, and the concurrent appointment of Mr Sellathurai Prabagar as Chief Operating Officer to fill the […]
Year on year food prices increase close to 50-pct: Advocata
Advocata’s Bath Curry Indicator (BCI) , which tracks the monthly changes in the retail price of food, recorded an increase of 14% from March 2022 to April 2022. This is a year on year increase of 49% for this basket of food. This is driven primarily by prices of dhal and samba rice being the […]
Investment opportunities of Port City Colombo presented in London
Sri Lanka High Commission in London in partnership with the CHEC Port City Colombo (Pvt) Ltd and Commonwealth Enterprise and Investment Council organised a presentation on investment opportunities in education and finance sectors in the Port City Colombo project to UK investors on 26 April 2022 at the High Commission premises. Delivering the welcome address, […]
Cipla together with SLCP and Big Life magazine to mark World Asthma Day with charity cycle ride on May 7th
The Big Life magazine in partnership with Cipla, a leading pharmaceutical company has organized a fun cycle ride on Saturday, May 7th. to mark World Asthma Day 2022. The ride will commence between 8 and 9 am from NCC, Maitland Place, Colombo 07 and is scheduled to conclude at 10.30am at the grounds. The events’ […]
Sampath Bank strengthens its strategic partnership with Paycorp International
Sampath Bank PLC announced that its connection to UnionPay International (UPI) is now complete and that the Sampath Bank Payment Gateway powered by UnionPay 3DS 2.0 is open for business. Having thus strengthened its strategic commercial partnership with Paycorp International (Private) Limited (Paycorp International), a wholly-owned subsidiary of Bancstac (Bancstac), this latest development provides Sampath […]
Shamindra Marcelline receives CEO of the year 2022 award
Shamindra Marcelline, Chief Executive Officer of People’s Leasing & Finance has been bestowed with the award ‘CEO of the Year 2022’ from Sri Lanka Best Employer Brands Award 2022. The award, certified by the World Federation of Human Resources Professionals and endorsed by CHRO Asia, recognises leaders of organizations who have ‘contributed to the growth of […]
How is an economic crisis affecting people?
People across Sri Lanka are struggling to get hold of daily essentials as the country faces its worst economic crisis in decades. Sri Lanka is mired in public debt after revenue from tourism evaporated in the wake of the coronavirus pandemic. With the country’s foreign currency reserves dwindling and foreign debt payments around the corner, […]
NDB’s Privilege Partners with Quintessentially to Provide Exclusive Concierge Services
CAPTION: Nadie Fernando – NDB Chief Manager Product Development, Gihan Punchihewa – NDB Head of Privilege and Privilege Select Banking, Zeyan Hameed – NDB Vice President Branch Network Management and Product Development, Romesh Savanghan – Quintessentially General Manager Sri Lanka & The Maldives, Dinuk Ratnayake, Head of Operations at Quintessentially and Avanti Bandara – NDB Senior Manager, Legal NDB […]
CA Sri Lanka launches exclusive global credential for finance professionals to fight fraud
In a ground-breaking initiative aimed at combatting fraud and corruption, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) joined hands with the US-based Association of Certified Fraud Examiners (ACFE) to launch an exclusive global credential for finance professionals in Sri Lanka. The Certified Fraud Examiner qualification, recognised globally as the most contemporary […]
President invites Saudi Arabia to invest in several sectors
President Gotabaya Rajapaksa informed Saudi Arabian Foreign Minister Faisal bin Farhan Al Saud that he would like to invite Saudi Arabia to make direct investments in several sectors. The President made these remarks during a meeting held with the Foreign Affairs Minister of Saudi Arabia at the Presidential Secretariat this morning (14). The President pointed […]
”’s proposed subordinated debt
Fitch Ratings has withdrawn the expected National Long-Term Rating of ‘BBB+(EXP)(lka)’ assigned to HNB Finance PLC’s (HNBF; A(lka)/Stable) proposed Sri Lankan rupee-denominated subordinated unsecured debentures on 21 September 2021. Fitch is withdrawing the expected rating as the issuance is no longer expected to convert to a final rating in the near future. KEY RATING DRIVERS […]