Category: Banking and Finance
Sri Lanka Y-o-Y inflation down to 4.4-pct in Nov 2019
Dec 02, 2019 (LBO) – The yer‐on‐year inflation as measured by CCPI is 4.4 percent in November 2019 and inflation calculated for October 2019 was 5.4 percent, the Department of Census and Statistics said. Year on year inflation of food group has decreased from 6.8 percent in October 2019 to 4.6 percent in November 2019 […]
Sri Lanka to introduce new scoring system to CRIB from January
Nov 29, 2019 (LBO) – Sri Lanka’s Central Bank said a new scoring system will be introduced to the Credit Information Bureau (CRIB) from January next year. “There are lots of concerns about CRIB reporting.So, we decided to give a new face to the CRIB report by introducing a scoring system,” Deputy Governor H. A. […]
‘s sub-debt issue to BBB+(EXP)
Nov 28, 2019 (LBO) – Fitch Ratings has revised the expected National Long-Term Rating on HNB Finance Limited’s (HFL, A(lka)/Stable) proposed Sri Lanka rupee-denominated subordinated unsecured debentures to ‘BBB+(EXP)(lka)’ from ‘A-(EXP)(lka)’ following the publication of Exposure Draft: Non-Bank Financial Institutions Rating Criteria and Exposure Draft: Bank Rating Criteria on 15 November 2019, under which the […]
Reports about any potential investment in TFC not true: Central Bank
Nov 27, 2019 (LBO) – Sri Lanka’s Central Bank on Wednesday clarified that the information published in newspapers regarding any potential investment in the troubled The Finance Company (TFC) is not correct. “Even though these news articles mentioned that TFC informed the CSE that it has been approached by three interested parties to consider investing […]
Door is open for a rate cut: First Capital Research
Nov 25, 2019 (LBO) – First Capital Research believes that there is a possibility for a rate cut considering the need to address the sluggishness in economic activity despite the 50 bps rate cuts each in May and Aug. “The external outlook favouring SL, easing political uncertainty and positive macro environment provides an opportunity for […]
Sri Lanka inflation hits high of 5.6-pct in October 2019
Nov 22, 2019 (LBO) – The National Consumer Price Index (NCPI) for all items for the month of October 2019 was 131.9, an increase of 1.3 index points or 1.0 percentage compared to September 2019. The overall rate of inflation as measured by NCPI on year‐on‐year basis is 5.6 percent in October 2019 and inflation […]
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 […]