LOLC finishes two years in succession as the most profitable conglomerate
LOLC Group (LOLC), the premier blue chip conglomerate concluded another financial year on a high note as per the results for the year ended 31st March 2020. …
Banking and Finance
Sri Lanka receives safe travels stamp from World Travel and Tourism Council
Aug 10, 2020 (LBO) - Recognising the safety protocols introduced by the Government of Sri Lanka along with standards mandated by Sri Lanka Tourism Development …
Are caveat notices strangling the condominium industry in Sri Lanka?
Kapila Gamage Attorney-at-Law and Condominium Consultant The condominium developers of Sri Lanka are being terrorized by a new kind of threat that is …
Sri Lanka’s GDP contracts by 1.6% in 1Q 2020
Aug 06, 2020 (LBO) - Sri Lanka's GDP growth rate for the first quarter of 2020 has been estimated as 1.6 percent of negative growth rate, when compared to the …
Fitch affirms Commercial Bank of Ceylon at ‘AA+(lka)’; Outlook negative
Aug 06, 2020 (LBO) - Fitch Ratings Lanka has affirmed Commercial Bank of Ceylon PLC's (CB) National Long-Term Rating at 'AA+(lka)'. The Outlook remains …
Sri Lanka’s Seylan Bank to issue listed debentures
Jul 30, 2020 (LBO) – Sri Lanka’s Seylan Bank is to issue two types of listed debentures, the bank said in a stock exchange filing. The bank at a meeting …
Nations Trust Bank American Express ties up with PickMe
Nations Trust Bank American Express joins hands with PickMe, Sri Lanka’s leading mobility solutions provider, to provide convenient and cashless payment …
People’s Bank’s Rs. 20bn debenture issue oversubscribed
Jul 28, 2020 (LBO) – People’s Bank’s BASEL III, Tier 2 compliant, Unlisted, Rated, Unsecured, Subordinated, Redeemable Debenture issue was oversubscribed …
Fitch affirms ratings of People’s Bank and Bank of Ceylon; Outlook Negative
Jul 27, 2020 (LBO) – Fitch Ratings has affirmed the National Long-Term Rating of People's Bank at 'AA+(lka)' with a Negative Outlook. Fitch Ratings has also …
South assures President historical win at General Election
Jul 24, 2020 (LBO) - People of Galle assured President Gotabaya Rajapaksa that the South is more than prepared to strengthen his administration to combat …
Tile and sanitaryware temporary import suspension has adverse impact on SL’s revenue
Jul 23, 2020 (LBO) - The Tile & Sanitaryware Importers Association (TSIA), Sri Lanka’s main body established to address the grievances of tile and …
New head appointed to head London Stock Exchange’s Shared Services Centre in Sri Lanka
Jul 22, 2020 (LBO) - London Stock Exchange Group (LSEG) has announced today that Arjuna Nanayakkara has been appointed as the Head of Shared Services Centre …
Compensation payments for ETI Finance & SFSP depositors to be commenced from Saturday
Jul 22, 2020 (LBO) – Compensation payments to the depositors of ETI Finance Limited (ETIFL) and Swarnamahal Financial Services PLC (SFSP) is to be commenced …
Pandemic sparks digitization drive among Asian firms: HSBC
Jul 22, 2020 (LBO) - COVID-19 has forced Asian corporates to confront their business resilience in an unprecedented way, underlining the urgent need for …
Moody’s extends review for downgrade on three Sri Lankan banks’ ratings
Jul 21, 2020 (LBO) – Moody's Investors Service has today extended its review for downgrade on Bank of Ceylon's (BOC), Hatton National Bank PLC's (HNB) and …
People’s Bank slashes loan interest rates up to 6-pct for SMEs & 9-pct for personal loans
Jul 21, 2020 (LBO) – People’s Bank has announced special concessionary interest rates across the board with almost all of them at single-digit levels. …
Sri Lankan banks’ ratings under pressure as operating conditions weaken: Fitch
Jul 20, 2020 (LBO) – Fitch Ratings revised down the operating environment (OE) score for Sri Lankan banks to 'b-' from 'b' in May 2020 after the sovereign …
LankaPropertyWeb records the highest traffic in June
Jul 14, 2020 (LBO) -LankaPropertyWeb.com, the leading real estate website in Sri Lanka with over 15,000 property listings, recorded its highest traffic figures …
Interview: Seylan Merchant Portal, simplified payment solution for SMEs in SL
Interview of Chaminda Senewiratne, head of Digital Banking, Seylan Bank PLC. Could you briefly explain what “Seylan merchant portal” is? “Seylan …
Central Bank suspends business of ETI Finance & Swarnamahal Financial Services
Jul 13, 2020 (LBO) – The Monetary Board (MB) of the Central Bank has decided to suspend the business activities of ETI Finance Ltd (ETIF) and Swarnamahal …