Category: Banking and Finance
Central Bank clarifies issues on sale of ETI Finance Ltd
Feb 12, 2019 (LBO) – Sri Lanka’s Central Bank says it has come to the notice of the Bank that some misinformation is circulating pertaining to ETI Finance Ltd (ETIF) disposing its subsidiaries, sub-subsidiaries and investment properties, and the involvement of CBSL therein. With regard to the said transaction, CBSL wishes to clarify the following: […]
Central Bank requests customers to use EMV enabled cards for ATM transactions
Feb 06, 2019 (LBO) – Sri Lanka’s Central Bank requests customers to use EMV enabled payment cards for ATM transactions to strengthen the security of these transactions. The EMV enabled cards carry an electronic chip which is visible at the front of the card. If the card used by a customer is not EMV enabled, […]
Commercial Bank enables online payment of Ports Authority charges
Feb 06, 2019 (LBO) – Commercial Bank of Ceylon has added the Sri Lanka Ports Authority to its online banking platform, enabling customers to pay their Ports Authority charges in respect to their shipping requirements from anywhere, anytime. To use this online payment option, customers have to key in their 14 digit invoice number issued […]
LankaClear says their payment network has not been compromised
Feb 05, 2019 (LBO) – Operator of Sri Lanka’s national payment network, LankaClear assures the general public that their payment network, LankaPay has not been compromised as it is fully secured adhering to international PCI-DSS security standard. The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard for organizations that handle […]
Fitch announce re calibration of Sri Lankan National rating scale
Feb 05, 2019 (LBO) – Fitch Ratings said today it will re-calibrate the Sri Lankan National Rating scale to reflect changes in the relative creditworthiness among Sri Lankan issuers following the downgrade of the country’s sovereign rating to ‘B’ from ‘B+’ on 3 December 2018. The full statement follows: Fitch Ratings-Hong Kong/Singapore-04 February 2019: Fitch […]
Sri Lanka’s John Keells Holdings profits up 7-pct in 3Q
Jan 31, 2019 (LBO) – Profits attributable to equity holders of the diversified John Keells Holdings group rose 7 percent to 4.8 billion rupees in the December 2018 quarter with revenues increasing 17 percent to 36.5 billion, its interim accounts showed.The Group profit before tax at 5.63 billion rupees in the third quarter is a […]
Enterprise Sri Lanka loan scheme disburses Rs217mn to over 500 recipients
Jan 31, 2019 (LBO) – Policy Development Office of the Prime Minister’s Office says the “Thurunu Diriya” loan scheme, which was implemented to empower small and medium young entrepreneurs, successfully disbursed the 500th loan last week.Accordingly, at the end of January 2019, a total of 515 “Thurunu Diriya” loans worth more than 217 million rupees […]
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Jan 31, 2019 (LBO) – Fitch Ratings has assigned DFCC Bank’s proposed Sri Lanka rupee-denominated senior debentures an expected National Long-Term Rating of ‘AA-(lka)(EXP)’.The notes, which will total LKR10 billion, will mature in five, seven and 10 years and carry fixed coupons.The bank plans to use the proceeds to support its loan expansion and to […]
Sampath Bank says ‘incident’ reported in media already corrected
Jan 29, 2019 (LBO) – Sampath Bank says they have already taken appropriate measures to correct what they called an ‘incident’ occurred several months ago, to ensure no recurrence. Referring to an article appeared on a website this morning that is being shared on social media about a financial irregularity, the bank said in a stock […]
Sri Lanka reserves at USD7.0Bn
Jan 29, 2019 (LBO) – Sri Lanka Governments’s gross official reserves stood at US dollars 7.0 billion which was equivalent to 3.7 months of imports at end November 2018, data shows. Total foreign assets, which consist of gross official reserves and foreign assets of the banking sector, amounted to US dollars 9.7 billion as at […]
” as government support weakening
Jan 24, 2019 (LBO) – Fitch Ratings has downgraded the National Long-Term Rating and senior unsecured debentures of Housing Development Finance Corporation Bank (HDFC Bank) to ‘BB+(lka)’ from ‘BBB-(lka)’ reflecting the weakening of the sovereign’s ability to provide support. “The downgrade reflects Fitch’s assessment of HDFC Bank’s standalone strength, as we believe timely support from the […]
Sri Lanka obtains USD200Mn from WB for primary health care system
Jan 23, 2019 (LBO) – Sri Lanka is to obtain USD 200 million from the International Bank for Reconstruction and Development (IBRD) of the World Bank to implement the primary health care system strengthening project. The development objective of the proposed project is “to increase the utilization and quality of primary health care services, with an […]