Category: Banking and Finance
Sri Lanka death toll over 200 in Easter Sunday attacks
Apr 21, 2019 (LBO) – The death toll in Sri Lanka’s terror attacks has risen to at least 207, with over 450 people injured, police spokesman Ruwan Gunasekera told media at a Press conference a short while ago. The eight blasts mostly targeted high-end hotels in the islands capital and churches where worshippers were attending […]
Sri Lanka announces island wide Police curfew; WhatsApp, Facebook blocked
Apr 21, 2019 (LBO) – Sri Lanka’s government has decided to impose an islandwide Police curfew, Defence Minister Ruwan Wijewardene said. As per the instructions of the Inspector General of Police, the Police curfew has been imposed with immediate effect. Meanwhile, the government has also decided to block social media platforms including WhatsApp, Facebook, Instagram, YouTube and […]
Seylan Bank’s Rs.5Bn debenture issue snapped up
Apr 25, 2019 (LBO) – Seylan Bank’s 5 billion rupee debenture Issue opened recently was successfully oversubscribed on the opening day, reflecting a strong investor confidence in Seylan. The Bank kept the Issue opened for one more day for the second and final tranche of Rs. 2 billion, which too was successfully oversubscribed on the same […]
Berendina awarded country’s first micro-financing license from Central Bank
Berendina Micro Investments Company (BMIC), the micro-finance arm of Berendina in Sri Lanka was recently granted a license to operate micro-financing by the Central Bank of Sri Lanka (CBSL), a first in the industry under the Microfinance Act No 6 of 2016. BMIC now will adhere to CBSL’s guidelines as a licensed microfinance company.The license […]
Kavan Ratnayaka appointed Chairman of National Development Bank
Apr 18, 2019 (LBO) – An Independent Director of National Development Bank (NDB), Kavantissa Danudra Weerawardene Ratnayaka has been appointed as the new Chairman of the Board of Directors of NDB with effect from today. The appointment came after the retirement of Ananda Wijetilaka Atukorala from the Chairmanship of National Development Bank with effect from […]
DFCC priced rights issue at a 56-pct discount to NAV to attract shareholders: CEO
Apr 08, 2019 (LBO) – Chief Executive Officer of Sri Lanka’s DFCC bank says that they wanted to make the rights issue attractive to shareholders by providing a discount of 56 percent to the net asset value per share. The bank is to issue up to 106,039,075 ordinary shares to the existing shareholders in the […]
Sampath Bank appoints Professor Malik Ranasinghe as Chairman
Professor Malik Ranasinghe, who was the Deputy Chairman of Sampath Bank since August 2016, will take on his new role from the 2nd April 2019 as the Chairman of the bank. Sampath Bank said his rich experience and deep understanding of the Bank’s core values will be invaluable in achieving its objectives. Professor Ranasinghe is […]
AIA receives shareholder approval for proposal to delist from CSE
Apr 03, 2019 (LBO) – Publicly listed company AIA Insurance Lanka announced that it will delist the Company’s shares from the official list of the Colombo Stock Exchange in compliance with applicable regulations and procedures.The proposal to delist was approved by the requisite shareholder majority at the Extraordinary General Meeting held on 27 March 2019. The […]
Fitch rates Commercial Bank of Ceylon Basel III sub debt AA-(lka)(EXP)
Apr 02, 2019 (LBO) – Fitch Ratings has assigned Commercial Bank of Ceylon’s proposed Basel III-compliant subordinated unsecured debentures an expected National Long-Term Rating of AA-(lka)(EXP). The debentures will total up to 15 billion rupees, with maturities of five and 10 years, and carry fixed coupons. The debentures will qualify as Basel III-compliant regulatory Tier 2 […]
Vikas Arora assumes role of Sri Lanka’s Chief Country Officer of Deutsche Bank
Apr 02, 2019 (LBO) – Vikas Arora has assumed the role of Sri Lanka’s Chief Country Officer and General Manager of Deutsche Bank AG Colombo Branch effective 1 April 2019, in addition to his role as Head of Global Transaction Banking and Head of Global Subsidiary Coverage for Sri Lanka. The bank said in a […]
Rs.79,000 million loans disbursed under Enterprise SL Program
Apr 01, 2019 (LBO) – Sri Lanka’s Finance Ministry said it had disbursed 79 billion rupees to 46,673 persons under the Enterprise Sri Lanka loan scheme so far. The loan programme was launched in on June 21, 2018. The ministry says 20,286 loans had been given for housing under a scheme called ‘Sonduru Piyasa’ and […]
Bogawantalawa Tea set to become world’s first climate positive plantation company
Mar 28, 2019 9LBO) – After becoming the first company in the world to secure uncompensated carbon neutral certification for its tea growing, manufacturing and marketing processes, Bogawantalawa Tea Estates PLC (BTE) is now setting its sights on even loftier environmental goals. For the producer of some of the country’s finest tea, this means a […]