Category: Banking and Finance
Gihan Cooray appointed Chairman of Nations Trust Bank
Dec 13, 2018 (LBO) – Nations Trust Bank PLC has announced the appointment of Gihan Cooray as Chairman of the Board of Directors, with effect from December 1st 2018. Cooray takes over as Chairman following the retirement of Krishan Balendra who stepped down after having served the stipulated maximum 9 year tenure as a Director […]
Sampath Bank Ranked One of Country’s Top Ten Corporate Citizens
(PRESS RELEASE) Also Wins Category Award for Governance at Best Corporate Citizen Sustainability Award 2018 Sampath Bank was recognized as one of Sri Lanka’s Top Ten Corporate Citizens of the year at the Best Corporate Citizen Sustainability Award 2018 held at the Cinnamon Grand, Colombo recently. The Bank was also adjudged the joint winner of […]
‘s macro economic conditions stable, Fiscal discipline required: CB Gov
Dec 06, 2018 (LBO) – Central Bank Governor Dr. Indrajit Coomaraswamy says that the islands debt situation is manageable and that no major destruction to the on- going economy development activities are foreseen, even though international rating agencies have downgraded Sri Lanka. “We are not going to crash, it can be managed through maintaining financial discipline,” […]
Fitch downgrades Sri Lanka financial institutions on sovereign downgrade
Dec 05, 2018 (LBO) – Fitch Ratings has downgraded the Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of the following Sri Lanka-based financial institutions following the downgrade of Sri Lanka’s sovereign rating: – National Savings Bank (NSB) to ‘B’ from ‘B +’; Outlook Stable – Bank of Ceylon (BOC) to ‘B’ from ‘B +’; Outlook […]
Sri Lanka Insurance gets new Chief and board
Nov 30, 2018 (LBO) – A new Chairman and board of Directors has been appointed to the Sri Lanka Insurance corporation with effect form 29 November 2018.Dr. K.A.S. Keeragala, a Special Grade Officer of the Sri Lanka Administrative Service with over 33 years of experience in the government service has been appointed the Executive Chairman.He also possesses excellent […]
Xiaomi officially enters the Sri Lanka market
Nov 30, 2018 (LBO) – New and innovative Chinese smartphone Xiaomi today announced its official entry into the Sri Lankan market to strengthen its presence and extend more local support to the market. “At Xiaomi, we always strive to push our boundaries and make higher level innovation accessible to all our users at honest pricing,” […]
Non Executive Directors appointed to Bank of Ceylon Board
Nov 27, 2018 (LBO) – Bank of Ceylon said in a stock exchange filing that the Finance Minister has appointed new Non-Executive Directors to the Board of Bank of Ceylon effective from yesterday. Accordingly, Visakha Amarasekere has been appointed as the Ex-Officio Non-Executive Director to the Board of Bank of Ceylon in place of S. […]
New Chairperson of People’s Bank, Sujatha Cooray assumes duties
The newly appointed Chairperson of People’s Bank, Sujatha Cooray, a senior public servant, assumed duties at the Head office of People’s Bank on November 21, 2018. She is a Class 1 officer of the Sri Lanka Planning Service. She holds a B.A degree and a B.Phil degree from the University of Colombo. She also holds […]
Sri Lanka rupee hits new low of Rs.180: Stocks down 0.34-pct
Nov 23, 2018 (LBO) – The Sri Lanka rupee dropped to a low of 180.66 against the US dollar following a political crisis, which began a month earlier in the island. The rupee was quoted at around 178.70/179.30 rupees on Friday, down from Wednesday’s closing of 178.40/70. The political crisis which began when president Maithripala Sirisena […]
‘s downgrades ratings of BOC, HNB, Sampath Bank; changes outlooks to stable
Nov 21, 2018 (LBO) – Moody’s Investors Service has downgraded the long-term local currency deposit and foreign currency issuer ratings of Bank of Ceylon (BOC), Hatton National Bank Ltd. (HNB) and Sampath Bank PLC (Sampath) to B2 from B1. At the same time, Moody’s has downgraded the long-term foreign currency deposit ratings of the same three […]
‘s political crisis puts IMF loan negotiations on hold
Nov 21, 2018 (LBO) – The International Monetary Fund (IMF) loan facility to Sri Lanka, approved in mid-2016, has been put on hold due to the islands prevailing political crisis, a foreign media report said. I The IMF approved the loan facility on the condition of comprehensive economic reforms. Speaking to media two weeks before the […]
Neil Umagiliya assumes duties as Bank of Ceylon’s new Chairman
Nov 20, 2018 (LBO) – N.A. Umagiliya was appointed as the Chairman, Bank of Ceylon and assumed office on Monday 19th November 2018 as the 25th Chairman of the Bank. He is a Fellow Member of the Institute of Chartered Management Accountants, United Kingdom and a Member of the British Institute of Management. Umagiliya is […]