Category: Banking and Finance
ComBank’s Rs. 15 bn Green Bond issue oversubscribed on opening day
Investors demonstrated overwhelming support for the green lending aspirations of the Commercial Bank of Ceylon, leading to the oversubscription of the Bank’s Rs. 15 billion Green Bond on its opening day, Monday 4th August 2025. The Green Bond Issue comprised of an initial issue of 100 million Basel III Compliant – Tier 2 Listed Rated […]
Pan Asia Bank posts PAT of over Rs. 2.1Bn for 1H2025; Increase of 110-pct
Operating Profit before Taxes on Financial Services – Rs. 3.83 billion, up by 40% Profit before Tax – Rs. 2.91 billion, up by 46% Profit after Tax – Rs. 2.15 billion, up by 110% Total Assets grow by Rs. 18 billion, up by 7% Net Interest Income – Rs. 6.27 billion, up by 7% Net […]
HNB & Nucleus Software Collaborate to Enhance Transaction Banking Experience with FinnAxia
HNB PLC, one of Sri Lanka’s leading and most forward-looking financial institutions, has implemented FinnAxia®, the advanced Transaction Banking Suite from Nucleus Software, as part of a strategic initiative to strengthen its leadership in digital banking and meet the growing needs of its corporate and SME clients across Sri Lanka and around the globe. In […]
ComBank’s Rs 15 billion Green Bond Issue opens on 4th August
The Commercial Bank of Ceylon has announced plans to raise up to Rs 15 billion for lending to sustainability-linked projects via a Green Bond approved in principle by the Colombo Stock Exchange (CSE) for public listing. The Green Bond Issue opening on Monday 4th August 2025 will comprise of an initial issue of 100 million […]
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Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB; AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated green bonds of up to LKR15 billion a final National Long-Term Rating of ‘A(lka)’. The final rating is the same as the expected rating assigned on 7 April 2025 and follows the receipt of documents conforming to […]
Pan Asia Bank felicitated for exemplary professionalism by the Central Bank of Bangladesh
In a ceremony at Bangladesh Bank headquarters in Motijheel recently, officials from Sri Lanka’s Pan Asia Banking Corporation (PABC) received high praise for thwarting a major cyber fraud aimed at siphoning US $20 million from Bangladesh Bank’s account at the Federal Reserve Bank of New York. Bangladesh Bank Governor Dr Ahsan H. Mansur led the honour, […]
Central Bank Imposes New Loan-to-Value Caps on Motor Vehicle Financing
The Central Bank of Sri Lanka (CBSL) yesterday announced new Directions, effective July 18, 2025, imposing maximum loan-to-value (LTV) ratios on credit facilities granted for the purchase or utilization of motor vehicles. These measures, outlined in “Central Bank of Sri Lanka Act Directions No. 02 of 2025,” aim to enhance macroprudential policymaking, mitigate systemic risks, […]
Softlogic Life completes 100% acquisition of Allianz Life Insurance Lanka Ltd
Softlogic Life Insurance PLC has successfully completed the acquisition of 100% of the shares of Allianz Life Insurance Lanka Limited (Life Business), following the receipt of regulatory approval from the Insurance Regulatory Commission of Sri Lanka (IRCSL). The transaction marks a significant milestone, following the initial announcement on 26th March 2025. Softlogic Life recorded Gross […]
ComBank launches Sri Lanka’s first AI-powered SME Credit Underwriting Solution
The Commercial Bank of Ceylon has announced the launch of Sri Lanka’s first Artificial Intelligence-powered SME Credit Underwriting Solution, taking a transformative step in reshaping how small and medium enterprises (SMEs) access credit and financial solutions. This custom-built AI platform, another breakthrough initiative by the country’s largest private sector bank, was fully developed as a […]
CBSL Initiates Resolution Action on Nation Lanka Finance PLC
The Central Bank of Sri Lanka (CBSL) announced today its decision to initiate resolution action on Nation Lanka Finance PLC (NLFP), a Licensed Finance Company, effective immediately. This decisive step has been taken due to NLFP’s persistent violations of the Finance Business Act, No. 42 of 2011 (FBA), and various related Directions and Rules, coupled […]
Banks Not Planning Widespread Parate Proceedings, Assures Sri Lanka Banks’ Association
The Sri Lanka Banks’ Association (SLBA), the collective voice of all licensed commercial banks in the country, today moved to quell alarmist claims regarding widespread parate proceedings now that the grace period for loan repayments has concluded. The SLBA firmly stated that banks have no intention of launching a flood of parate actions, emphasizing that […]
ComBank and MD/CEO Sanath Manatunge clinch top honours as ‘Sri Lanka’s Best’ from The Asian Banker
The Commercial Bank of Ceylon and its Managing Director/CEO Mr Sanath Manatunge have been named the ‘Best Managed Bank’ and the ‘Best Bank CEO’ in Sri Lanka respectively by The Asian Banker (TAB) magazine, bestowing on them two prestigious accolades that are presented once in every three years. These awards, in respect of the 2022-2024 […]