Category: Banking and Finance
First Session of political consultations between Sri Lanka and Turkey concludes in Colombo
May 13, 2019 (LBO) – The first session of political consultations between Sri Lanka and Turkey with a new road map for enhanced cooperation in prioritized sectors between the two nations was concluded recently. In order to further consolidate this engagement, a bilateral legal framework will be formalized to generate mutually beneficial outcomes in the […]
‘s pay tops $ 18mn
May 12, 2019 (LBO) – Shemara Wikramanayake, CEO of global investment bank Macquarie, earned over $18mn in the last fiscal year. Her total annual renumeration makes her one of the highest paid executives in Australia. The disclosure of her compensation came out as the company she leads reported earnings of $3bn for the year. https://www.afr.com/business/banking-and-finance/the-eight-macquarie-bosses-paid-more-than-27-000-a-day-20190503-p51jue […]
Seylan Bank reports 11-pct year on year growth in 1Q 2019
May 03, 2019 (LBO) – Seylan Bank has made a steady start in 2019 by posting a Profit after Tax of 903 million rupees in the first quarter, up 11.10 percent from a year earlier, its interim accounts showed. Profits attributable to the equity holders of the Seylan Bank group rose 8.14 percent to 817 […]
Central Bank considering alternatives to revive Swarnamahal Financial Services
May 02, 2019 (LBO) – Sri Lanka’s Central Bank said they are currently considering alternative measures to revive Swarnamahal Financial Services PLC as the buyer failed to remit the remaining amount for the disposal of ETI Finance Ltd (ETIF).Monetary Board gave its concurrence on 21 February 2018 to dispose identified subsidiary, sub-subsidiary companies and investment properties of ETIF for […]
Sri Lanka bans all forms of face covers following terror attacks
Apr 29, 2019 (LBO) – President Maithripala Sirisena, under Emergency Regulations, has taken steps to ban from April 29th, 2019, all forms of face covers that may hinder one’s identity been ascertained, as a threat to national security and public safety. This directive specifies the need for one’s face been clearly visible for ascertaining their identify […]
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 […]