Category: Banking and Finance
Central Bank warns public to be attentive to financial scams/ phishing emails
Nov 14, 2018 (LBO) – The attention of the Central Bank of Sri Lanka (CBSL) has been drawn to recent grievances received from the general public regarding financial scams spreading through phishing emails/ social media messages. Issuing a statement the bank said it has noticed that the image of the Head Office building, the Logo […]
Commercial Bank weathers external challenges to post strong 9-month results
Sri Lanka’s benchmark private bank, Commercial Bank of Ceylon PLC has demonstrated its resilience in adverse conditions, weathering the twin challenges of high taxes and impairment charges to post a healthy growth in most key performance indicators at the end of the third quarter of 2018. The Bank’s gross income surpassed the Rs 100 billion […]
Sampath Bank surpasses Rs.14 Bn mark in pre-tax profit
Sampath Bank achieved Rs.14.2 billion in Profit Before Tax (PBT) within the first 3 quarters of 2018, 20.3% higher than the PBT of Rs.11.8 billion recorded in the corresponding period in the previous year. This is a significant achievement particularly given the challenging macroeconomic conditions that were seen throughout this period. Profit After Tax (PAT) […]
AIA Insurance partners with Sampath Bank to facilitate premium payments
AIA Insurance Lanka has entered into a strategic partnership with Sampath Bank on insurance premium payments to enhance customer convenience. Appointing Sampath Bank as its payments channel in Sri Lanka, AIA has opened up a wide mix of the Bank’s physical and digital touchpoints to its policyholders and Wealth Planners. They will now be able […]
Nations Trust Bank records post-tax profit of Rs.2, 918Mn
Nov 02, 2018 (LBO) – The Bank closed the nine months ending 30th September 2018 with a post-tax profit of Rs.2, 918Mn with standing multiple challenges as witnessed across the industry with increasing non-performing loans, tightening of liquidity and moderating credit growth which particularly hindered the performance for the quarter. The Bank realigned its resources in […]
Foreign Minister meets Heads of Mission of SAARC countries
(PRESS RELEASE) – Foreign Minister Dr. Sarath Amunugama met the Ambassadors and High Commissioners of SAARC countries and their representatives at his office today (31). Heads of Mission and their representatives of Afghanistan, Bangladesh, Nepal, India, Maldives and Pakistan were present on this occasion to discuss matters of mutual interest. The Secretary to the Ministry […]
Seylan Bank records profit-after-tax of Rs. 3.1 Bn in 3Q 2018
The Bank closed the 9 months ending 30th September 2018 with a post-tax profit of Rs.3,138 Million, a moderate growth of 4.5 % over the corresponding period last year in the backdrop of challenging market conditions. The Bank increased its Net Interest Income and recorded a commendable growth of 14.4% to reach Rs. 13,013 Million […]
Virtusa Sri Lanka’s Madu Ratnayake appointed an Independent Director of HNB
Oct 26, 2018 (LBO) – Group CIO and the Center Head for Virtusa Sri Lanka Madura Duminda Ratnayake has been appointed as an Independent Non-Executive Director of Hatton National Bank.He is responsible for Virtusa’s global digital strategy and Virtusa’s Sri Lankan Operations.He is also responsible for enterprise digital business strategy and the core service delivery […]
FMO supports Nations Trust Bank’s growth and drives job creation in Sri Lanka
Oct. 15, 2018 (LBO) – FMO, a Dutch Development Bank recently arranged a US 50 million dollar syndicated loan for Nations Trust Bank (NTB) in Sri Lanka. The loan supports further growth in Nations Trust Bank’s business banking activities which, for a number of years,has been strategically geared more towards small and medium enterprises and […]
NDB rights issue 60% subscribed, Rs3.8bn raised
October 10, 2018 (LBO) – Colombo Stock Exchange (CSE) listed NDB Bank has raised Rs3.8bn through a rights issue in difficult market conditions. Although the rights issue aimed to raise over Rs6bn, it was only 60% subscribed. Analysts say that the issue was a relative success, as the subscription was taken up during very difficult […]
” rating; outlook stable
Fitch Ratings Lanka Limited has assigned Dialog Finance PLC (DF) a National Long-Term Rating of ‘AA(lka)’. The Outlook is Stable. KEY RATING DRIVERS NATIONAL RATINGS DF’s rating reflects Fitch’s view that support would be forthcoming from Dialog Axiata PLC (Dialog), the largest mobile-telecommunication and pay-TV operator in Sri Lanka. The assessment is based on Dialog’s 98.9% […]
Sri Lanka to integrate SMEs into formal sector to facilitate their growth : Fin Min
Oct 09, 2018 (LBO) – Sri Lanka’s Minister of Finance said the government aims to integrate small and medium scale enterprises into an official sector and establish hard and soft infrastructure frameworks to facilitate their growth. “Every country in the world has identified the importance of SMEs in their economies as a practical instrument in achieving […]