Category: Banking and Finance

Commercial Bank will seek regulatory approval to acquire Credit Agricole Indosuezs (CIA) Bangladesh operations. The acquisition will give Commercial Bank its first overseas outpost and falls in line with plans to expand operations into the South Asian region.rn rnldblquote The Commercial Banks intended acquisition of CAI Bangladesh is part of the banks stated goal of […]

The Central Bank on Monday named financial institutions that are not registered with the bank, but continue to raise funds from the public.The 31 companies named, raise funds not by deposits, but by other means like debentures, commercial paper and promissory notes.rn rnThe notice comes after the Central Bank named 27 companies in January for […]

Central Bank sold Rs. 1 billion of its Treasury Bill in the secondary market on Wednesday to mop up excess liquidity in the banking system.The Central Bank says around Rs.11 billion is in excess of which players say about Rs. 5 billion is permanently in excess.rn rnOf late money market players have parked about the […]

The first in a line up of state sector accounting reviews kicked off Tuesday, with the National Review Committee studying the Ports Authoritys books. Accounts for 2002 from 12 more firms have been lined up for review by mid September including the books of state sector financial institutions.rn rnIn the running for scrutiny is the […]

Hatton National Bank has (HNB) offered a voluntary retirement package to its top management as part of the banks restructuring, that has been going on over the last two years but says the move will not weaken the quality of management. The countries largest private bank says ldblquote the strategic redirection and the regionalisation dblquote […]

Central Bank tightened the regulatory grip with the introduction of minimum levels of capital.Finance companies under a Central Bank directive will have to maintain capital adequate to cover 10 percent of their risk weighted assets.rn rnThe ruling, which takes effect from this month, will have to be complied by all finance companies. The standards are […]

HNB senior officials told Lanka Business Online that the Bank could consider rescheduling the loan if the owners put up a minimum 50 per cent of the outstanding amount before the auction.rn rnMarawila Resorts Directors told shareholders on Tuesday that they were in negotiations with HNB to find an amicable solution.rn rnHowever, HNB officials claim […]

Central Bank left key interest rates unchanged on account of the high liquidity in the financial system at present. The decision came after its monthly policy meeting on Wednesday evening.rn rnMeanwhile, Central Bank has decided to absorb a part of this liquidity gradually through a longer-term absorption under its active open market operations window.rn rnIn […]

The fresh issues could set off more regular longer term borrowing as the state looks to maintain low inflation and interest rates. rn rnThe 10 year issue is also in line with the Central Banks decision on Wednesday to gradually absorb excess liquidity from the financial system through ldblquote a longer-term absorption under its active […]

The Supreme Court on Monday gave Central Bank 14 days to re-suspend Pramuka Banks license to facilitate restructuring.The Court concluded that interested parties could not restructure the bank without its license as per the Banking Act.rn rnCentral Bank officials requested 14 days to prepare a fresh suspension order, until when Pramuks license will remain cancelled. […]

Supreme Court on Friday refused to take up Central Banks appeal on the Court of Appeal decision on Pramuka Bank.The Central Bank sought to stay the Appeal Court decision without serving notice on the depositors or their counsel.rn rnThe case will be taken up on Monday, after Central Bank has served notice on depositors counsel.rn […]