Category: Banking and Finance
Beware of online scams, protect bank passwords & PINs: Central Bank
Nov 21, 2019 (LBO) – Sri Lanka’s Central Bank warns public that it has received information regarding several types of financial frauds and scams being operated through social media, and Internet-based applications. Full Statement Beware of online scams – Protect your bank passwords and PINs The Central Bank of Sri Lanka has received information regarding […]
Turkey: Your next destination for business
Nov 20, 2019 (LBO) – The Ceylon Chamber of Commerce in association with the Embassy of Turkey in Sri Lanka will be organising a presentation on “Turkey – Your Next Destination for Business”, followed by a networking session at the Ceylon Chamber of Commerce on 2nd December 2019, at 4.00 p.m. On the invitation of […]
Ceylinco Life unfazed by conditions, posts impressive 9-month results
PBT up 54.8% to Rs 5.8 billion on net income of Rs 22.8 billion Net premium income grows 5.5% to Rs 13.3 billion Life Fund increases by 4.8% to Rs 92.3 billion Ceylinco Life has posted robust income and profit growth for the nine months ending 30th September 2019, continuing the Company’s sector-leading performance into […]
ICRA explains key differences and implications of Central Bank bill to repeal monetary law act
Nov 18, 2019 (LBO) – The CBSL independence is a critical factor to have some level of discipline in the monetary policy and the new Central Bank Bill is an attempt to strengthen the institution and bring reforms to achieve this goal, ICRA Lanka Limited, subsidiary of ICRA Limited, Group Company of Moody’s Investors Service […]
Sri Lanka stocks up after GR election victory
Nov 18, 2019 (LBO) – Sri Lanka’s All Share Index rose 94 points or 1.56 percent to 6,117 points in the first half of the day of trading following the election victory of Gotabaya Rajapaksa as the new President. Stock indexes were up across the board with index heavy John Keells Holdings showing a gain […]
ComBank Group posts net profit growth of 21.2-pct for Q3
Nov 15, 2019 (LBO) – Significant improvements in the third quarter, which positively impacted its year-to-date performance, have enabled the Commercial Bank Group to post creditable results for the nine months ended September 30, 2019. Comprising of Commercial Bank of Ceylon PLC, its subsidiaries and associates, the Group reported operating profit before taxes on financial […]
Sri Lankan banks facing pressure on credit profiles, rising NPLs: Fitch Ratings
Nov 13, 2019 (LBO) – Pressure on Sri Lankan banks’ financial profiles due to challenging operating conditions became more apparent in the banks’ 1H19 results, Fitch Ratings says in a new report. According to the new report, the sector’s non-performing loans (NPLs) continued to rise rapidly, up 39 percent in 1H19 (64% in 2018) and […]
Sri Lanka economy to grow 3.5-pct in 2020: Central Bank
Nov 05, 2019 (LBO) – The Sri Lankan economy is projected to grow by around 3.5 percent in real terms in 2020, a new Central Bank report says. “The growth is expected to be broad-based and positively contributed by all major economic activities,” it says. “Further, investor confidence, which was adversely affected by domestic uncertainties, […]
ComBank receives best bank award from Global Finance
The Commercial Bank of Ceylon was recently presented the award for ‘Sri Lanka’s Best Bank in 2019’ by the USA-based Global Finance magazine at the 26th Annual Best Bank Awards Ceremony held at the National Press Club in Washington, DC on the sidelines of the annual meetings of the IMF and World Bank. The Bank’s […]
JKH Sept quarter net profit down 55-pct amid Easter Sunday impacts
Nov 01, 2019 (LBO) – Sri Lanka’s diversified John Keells Holdings said its profits for the second quarter were mainly impacted by the Easter Sunday impacts on the leisure businesses and the decline in finance income. The profit attributable to equity holders in the second quarter at Rs.2.29 billion is a decrease of 55 percent […]
” ratings
Nov 01, 2019 (LBO) – Moody’s Investors Service has affirmed the long-term/short-term local currency deposit ratings of Bank of Ceylon (BOC), Hatton National Bank (HNB) and Sampath Bank at B2/NP. At the same time, Moody’s has affirmed the long-term foreign currency issuer ratings and long-term/short-term foreign currency deposit ratings of these three banks at B2 […]
Seylan Bank records profit after tax of Rs. 2.6Bn in 3Q 2019
Oct 31, 2019 (LBO) – Seylan Bank closed the nine months ending 30th September 2019 with a post-tax profit of Rs. 2,554 Mn, a marginal increase of 1% over the corresponding period last year. Growth in advances coupled with the rise in interest rates enabled interest income to grow by 16.77% and interest expenses increased […]