Category: Banking and Finance
JAAF partners with GTEX to drive textile innovation and competitiveness in Sri Lanka
Sri Lanka took another significant step toward textile circularity with a four-day program under the GTEX Phase II initiative, organized by the International Trade Centre (ITC) and funded by the Swiss State Secretariat for Economic Affairs (SECO). The event, which combined a two-day training-of-trainers session with a workshop on Circular Economy Business Models for the […]
Opinion: Embracing change, charting a brighter future for Sri Lanka’s plantation industry
By Sunil Poholiyadde, Chairman of the Planters’ Association of Ceylon For 170 years, Sri Lanka’s plantation industry has stood the test of time. Despite continuous upheavals, it has managed to adapt and endure. Over this period, the ownership structure of the industry underwent significant changes—from 124 years of British colonial ownership to the post-independence era […]
Ambeon Holdings PLC Increases Stake in Seylan Bank and Strengthens Financial Services Footprint
Ambeon Holdings PLC, a diversified conglomerate with a strong presence across multiple sectors, continues to strengthen its position in Sri Lanka’s financial services industry through strategic investments. Recently, the company increased its stake in Seylan Bank PLC by 0.98%, bringing its total holding to 8.61% of the bank’s ordinary voting shares. This move underscores Ambeon’s […]
””’; Removes RWN on VR
Fitch Ratings has upgraded Bank of Ceylon’s (BOC) Long-Term Foreign Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘CC’. At the same time, the Rating Watch Negative (RWN) on the Viability Rating (VR) has been removed and the VR upgraded to ‘ccc-‘ from ‘cc’. Fitch has also affirmed the Short-Term IDR at ‘C’ and the […]
” Rating; Outlook Stable
Fitch Ratings has assigned Sri Lanka-based Senfin Asset Management (Private) Limited a first-time National Long-Term Rating of ‘BBB-(lka)’ with a Stable Outlook. Senfin is a 100%-owned subsidiary of a mid-sized finance and leasing company, Senkadagala Finance PLC (SFCL, BBB(lka)/Stable). The company manages unit trusts and provides discretionary portfolio services for institutional and high-net-worth investors. It […]
ComBank Digital soars past 1.5 million registered users in a landmark moment
The Commercial Bank of Ceylon has achieved another milestone in its digital revolution, with ‘ComBank Digital’ – the Bank’s omni-channel digital banking platform – surpassing 1.5 million registered users. Announcing the landmark, the Bank said the award-winning platform continues to lead digital transformation in Sri Lanka’s banking sector as the most widely used digital channel […]
Reducing Sovereign Stresses Will Support Sri Lankan Banks’ Credit Profiles: Fitch Ratings
Sri Lankan banks’ operating environment (OE) assessment and overall credit profiles will be supported by any improvement in the sovereign’s credit profile (Long-Term Foreign-Currency IDR: RD, Long-Term Local-Currency IDR: CCC-) following a completed debt restructuring, says Fitch Ratings. This is due to the strong link between sovereign financial health and banks’ operating conditions. We believe […]
Sri Lanka Banks’ Association reiterates support to new government
The Sri Lanka Banks’ Association (SLBA) has congratulated President Anura Kumara Dissanayake on his party’s resounding victory at the Parliamentary election and pledged its support to the new government in the challenging journey ahead. The Association, which represents all licenced banks in Sri Lanka, also noted that its recent interactions with the Presidential Secretariat has […]
Hayleys records 78-pct growth in PBT to Rs.12.7Bn
The Hayleys Group delivered remarkable growth and profitability during the first half of the financial year ending 31 st March 2025, as it leveraged its leading market positions across diverse business verticals to deliver a Profit Before Tax of Rs.12.73 bn, an increase of 78% over the corresponding period of the previous year. Meanwhile, the […]
ComBank accelerates lending in Q3 as strong fundamentals spur growth
Loan book up by Rs 121.06 bn. in 9 months, with 44.20% of growth coming in Q3 CASA ratio improves to 39.60% at 30th Sept. 2024 Net interest income up 46.15% to Rs 88.98 bn. Total taxes for 9 months double to Rs 27.67 bn. The Commercial Bank of Ceylon Group has achieved impressive […]
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Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB; A(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured listed green bonds of up to LKR5 billion a final National Long-Term Rating of ‘A(lka)’. The final rating is the same as the expected rating assigned on 25 September 2024 and follows the receipt of documents conforming to […]
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Fitch Ratings has assigned Sampath Bank PLC’s (A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’. The proposed debentures, which will mature in five years, will be listed on the Colombo Stock Exchange. The bank plans to use the proceeds to strengthen its […]