Category: Banking and Finance

Complex financial transactions that include income securatisations and sale of loans have been increasingly used by local financial institutes to raise capital and improve their profitability. rnrnldblquote At minimum financial statements should include a disclosure about the complex financial transaction. The disclosure should explain the transaction and risk and rewards the company is exposed to […]

The swap would hedge the Horana plant quote s interest rate risk, by converting its US$ 10.8 mn floating rate, which is pegged to the three months London Inter Bank Offered Rate debt into a fixed rate. rnrnAitken Spence opted for the move, after US dollar interest rates reached historic lows following the US economic […]

ldblquote We are re-visiting our original strategic plan, taking in to account the experiences gained during the last two years dblquote , JKH Director Ajit Gunawardene told Lanka Business Online. rnrnldblquote There will be no major changes to the overall strategic direction dblquote , he said. NTB will continue to focus on gaining competitive advantage […]

One of the key problems that hamper agriculture these days is price volatility.Primary agricultural markets have traditionally been volatile, with problems sometimes getting out of hand by ad hoc government policies. Attempts to restore price stability with guaranteed price increases have seen limited success.rnrnWith crashing markets spelling ruins for many farmers, the Central Bank initiated […]

Fitch Ratings Lanka quote s CEO is flying out on a rescue mission to try and salvage an impending divorce from its US partner Fitch IBCA.

The bank has already expressed intentions to the top management of two Colombo based commercial banks, Citibank quote s CEO Kapila Jayawardena told Lanka Business Online in an interview today. rnrnldblquote We are not interested in acquiring a branch network. It is more in terms of a portfolio purchase to expand our local corporate base […]

Fitch IBCA, the US partner of the local rating agency Fitch Ratings Lanka Ltd (FRL) plans to pull the rug under its Sri Lankan operations.

A sweeping set of tax reforms, including ban of all cash transactions over Rs.100,000, aimed at improving government revenue, are expected to be proposed by the Ceylon Chamber Of Commerce (CCC) to Treasury Secretary Charitha Ratwatte today. rnrn

ldblquote Everything has been sorted out.We are starting work tomorrow dblquote , a member of restructuring management team told Lanka Business Online. rnrnThe 13-member restructuring management team returned to work today, for the first time since union activists unceremoniously ousted them on December 28. rnrnThey attended Nanayakkara quote s takeover ceremony this morning and were […]

The ministry last week announced a six-month moratorium on parate executions but stopped short from adjusting the provisioning requirements of all banks. rnrnldblquote This is the first and the last time we are appealing to all banks, dblquote Deputy Finance Minister, Bandula Gunawardene told reporters. rnrnldblquote We don quote t want to damage the lending […]

Ratwatte condemned the Ceylon Bank Employees Union (CBEU) protests against the restructuring management team, calling it an ldblquote uncivilised act not suited for professional bankers.“ rnrnHe further said reforms at People quote s Bank would continue regardless of party politics since the financial viability of the bank depends on them. rnrnldblquote This protest is totally […]

ldblquote Improving our interest cost structure by encouraging more current account deposits, is not the main objective of the promotion. Through the years the use of cheques by retail and business customers have become stagnant, due to lack of promotions, HNB Deputy General Manager, Dulip Daluwatte told Lanka Business Online. rnrnHNB being the largest private […]