Category: Banking and Finance
Sri Lanka official reserves at USD9.3Bn : Rupee depreciated by 5.0-pct by Aug 2018
Aug 28, 2018 (LBO) – The Central Bank of Sri Lanka said reflecting developments in the domestic and global foreign exchange markets, the Sri Lankan rupee depreciated by 5.0 percent during the year up to 27 August 2018 against the US dollar. Furthermore, reflecting cross currency movements, the Sri Lankan rupee depreciated against the euro, […]
Orient Finance (BFN) reports a loss of Rs21mn for the quarter, deposits at Rs11.6bn
August 16, 2018 (LBO) – Colombo Stock Exchange listed Orient Finance (BFN) reported a loss of Rs21mn for the quarter ended June 2018.This was against a profit of Rs6mn in the prior year quarter.Revenues were down 6% year over year, while impairment charges were up 36% to Rs140mn. These declining metrics pushed the company into […]
Alliance Finance (ALLI) makes a profit of Rs138mn for the June quarter, deposits at Rs12.9bn
August 16, 2018 (LBO) – Colombo Stock Exchange listed Alliance Finance (ALLI) reported a profit of Rs138mn for the quarter ended June 2018. The balance sheet shrank 2% in the 3 month period to Rs31bn as the company consolidated its position after years of rapid growth. Deposits were also down close to 2% in the […]
Swarnamahal Financial Services (SFS) loses Rs40mn in June quarter, Deposits at Rs3bn
August 16, 2018 (LBO) – Colombo Stock Exchange listed Swarnamahal Financial Services (SFS) reported a loss of Rs40mn for the quarter ended June 2018. The balance sheet of the company is shrinking, likely in accordance with the CBSL initiatives to restructure the EAP group registered finance companies.Total assets were down 20% in the 3 month […]
The Finance Company (TFC) lost Rs740mn in the June quarter, deposits at Rs30bn
August 16, 2018 (LBO) – Central Bank of Sri Lanka (CBSL) registered finance company The Finance Company (TFC) reported a staggering loss for the quarter ended June 2018. June quarter losses were Rs743mn during the 3 months, a continuation of the trend of losses that has endured over the last several years. The Finance Company […]
‘s HNB Group records PBT of Rs.14.1 Bn in 1H 2018
Aug 16, 2018 (LBO) – HNB Group recorded Rs 14.1 Bn in Profit Before Taxes (PBT) for the first six months of 2018, representing a 30.7% Year-on-Year (YoY) growth over the first half of 2017 while Group Profit After Taxes (PAT) rose 26.9% YoY to Rs 9.6 Bn. At a Bank level, HNB’s PAT improved […]
Commercial Bank continues growth in Q2 to post strong 6-month result
Aug 16, 2018 (LBO) – Commercial Bank of Ceylon PLC has continued its growth momentum into the second quarter of 2018, despite having to pay in excess of Rs 7 billion in taxes and being compelled to make significant provisions for impairment charges for the six months ending 30th June 2018. The Bank has posted profit […]
CB extends suspension of Pan Asia Bank primary dealer activities by 6 months
Aug 15, 2018 (LBO) – Monetary Board has decided to extend the suspension of business and activities of a Primary Dealer of Pan Asia Banking Corporation for a period of six months with effect from today, in order to continue the investigations being conducted by the Central Bank. The Central Bank wishes to emphasize that […]
CSE listed CDB reports profit of Rs339mn; Deposits grow to Rs47bn
August 13, 2018 (LBO) – Colombo Stock Exchange listed Citizens Development Business Finance (CDB) reported robust profits for the June 2018 quarter.Profits at the CBSL registered finance company were Rs339mn for the quarter on equity of approximately Rs7.6bn. The firm is operating a full balance sheet with assets of approximately Rs80bn.Deposits grew to a massive […]
Abans Finance (AFSL) reports modest profit, deposits at 6.5bn, balance sheet shrinks sequentially
August 13, 2018 (LBO) – Colombo Stock Exchange listed Abans Finance PLC (AFSL) released quarterly results for the period ended June 2018.The CBSL registered finance company reported a modest profit of Rs18mn for the quarter on an equity base of over Rs1.5bn. Total assets were Rs8.8bn, while total deposits were Rs6.5bn. The balance sheet of […]
Pan Asia Bank PAT tops Rs.800Mn in 1H 2018
Aug 10, 2018 (LBO) – Pan Asia Banking Corporation PLC reported its best ever profit recorded in a first half in 2018 anchored by solid growth in new loans, prudent margin and asset-liability management.For the six months ended in June 30, 2018 (1H’18), the bank reported a profit after tax of Rs.819.6 million, up by a […]
‘s Nations Trust Bank Records PAT of Rs1,875Mn
Aug 07, 2018 (LBO) – The Nations Trust Bank closed the six months period ending June 30, 2018 with a post-tax profit of 1,875 million rupees and a pre-tax profit of 3,882 million rupees, the Bank said in a statement. Net interest income increased by 35 percent mainly attributable to growth in volumes with a […]