Category: Banking and Finance
Sri Lanka exports up 6.3-pct to USD1.1Bn
Jun 01, 2018 (LBO) – Sri Lanka’s overall exports were up by 6.3 percent to US 1.1 billion dollars with an increase in industrial exports, data from the Central Bank showed Thursday. Performance of merchandise exports in March 2018, merchandise export earnings at US 1,108 million dollars, recorded the historically highest monthly value. The year-on-year growth of […]
Sri Lanka reserves at USD7.3Bn, Rupee depreciates 3.3-pct: CB
Jun 01, 2018 (LBO) – Sri Lanka’s Central Bank says the level of gross official reserves of the country was estimated at US 7.3 billion dollars, equivalent to 4.1 months of imports, at end March 2018. “The level of gross official reserves of the country remained at a healthy level recent past,” it said. Total […]
Sri Lanka Central Bank clarifies on external debt and reserves
May 23, 2018 (LBO) – Sri Lanka’s Central bank issuing a statement has clarified a misleading news item has been disseminated in relation to Sri Lanka’s foreign reserves and external debt servicing. “The contents of the news item portray a misleading picture of the country’s external position,” it said. The full statement follows: External Debt […]
ETI Finance to pay 20-pct of deposit liabilities from USD75mn sale proceeds
May 21, 2018 (LBO) – Monetary Board of the Central Bank has decided to permit ETI Finance (ETIFL) to sell its share holding in subsidiaries and investment properties, for a net amount of 75 million US dollars subject to applicable laws. The Central Bank said the decision has been made based on a proposal submitted […]
Nations Trust Bank – Realizing Dreams
The Nations Trust story began more than 18 years ago when a small new bank full of determination,entered a field dominated by titans with a dream to carve out a place for itself in Sri Lanka’s Banking and financial services space. Innovation and a fresh approach have always been the Bank’s most potent tools and […]
LKR depreciation unwarranted; Reserves to reach US$ 11Bn by June 2018 :CB
May 17, 2018 (LBO) – The Central Bank of Sri Lanka says the underlying fundamentals do not warrant the current pressure on the Sri Lanka rupee. The rupee closed at 158.20/40 rupees against the US dollar in the spot market Wednesday after hitting a low low of 158.80 rupees earlier in the day. “Gross external […]
Cabinet nod for new committee to prevent money laundering and terrorism financing
May 16, 2018 (LBO) – Sri Lanka’s cabinet of Ministers has approved to widen the composition of National Coordinating Committee for preventing money laundering and terrorism funding. “Since the number of financial crimes have increased with the expansion of technology, better coordination among Government institutions is essential to face this situation successfully,” a government statement said. […]
‘s Comm Bank reports PBT of Rs.6.3Bn, up 21-pct
May 15, 2018 (LBO) – Commercial Bank of Ceylon PLC has reported profit before VAT and NBT of 7.677 billion rupees and profit before tax of 6.337 billion rupees for the first quarter of 2018, with growth of 21.07 percent and 21.36 percent respectively. Gross income for the three months ending 31st March 2018 was up […]
HNB Group records Rs7.2Bn PBT in Q1
May 15, 2018 (LBO) – Sri Lanka’s Hatton National Bank reported a first quarter profit after tax growth of 22.5 percent to 4.5 billion rupees, while the Group reported a PAT of 5 billion rupees which is a 24 percent growth from last year.HNB expanded its loan book by 33.7 billion rupees during the quarter […]
‘s Nations Trust Bank PAT Rs.939Mn, up 30-pct
May 11, 2018 (LBO) – Nations Trust Bank recorded a post-tax profit of 939 million rupees, up by 30 percent in the first quarter of 2018 over the corresponding period in the previous year. Profitability growth was underpinned by a 7 percent growth in loans and advances during the period under review along with improving […]
Siyapatha Finance to raise Tier 1 capital with a rights issue
May 10, 2018 (LBO) – Sri Lanka’s Siyapatha Finance is planning to raise 250 million rupees by way of a rights issue, the company said in a stock exchange filing. The director board has resolved to increase the Tier 1 capital of the company through this rights issue. Subjected to the regulatory and shareholder approvals, […]
Standard Chartered to boost investment into Sri Lanka with dedicated china desk
May 03, 2018 (LBO) – The Standard Chartered Bank (Sri Lanka) said they would be setting up a China Desk to expedite trade and business operations between the two countries. Chinese companies are showing interest in Sri Lanka under the One Belt One Road intitiative, a senior bank official said. “Many of our clients are now […]