Category: Banking and Finance
Sri Lankan Banks to Step up Basel III Tier 2 Issuance: Fitch
Jan 08, 2018 (LBO) – Sri Lankan banks are likely to significantly boost issuance of Basel III-compliant Tier 2 instruments in 2018, says Fitch Ratings. Most banks will need to raise capital to meet higher Basel III requirements that take full effect in January 2019, and to support balance-sheet expansion, the rating agency said issuing […]
Banking sector to provide 25-pct average return over 1-Year: FC Research
Jan 04, 2018 (LBO) – First Capital Research expects the banking sector to have a steady phase during 2018E-20E with stable credit growth, improving GDP growth supporting lower Non Performing loans and lower interest rate volatility leading to stable net interest margins. “We expect our banking sector universe to provide 25% average return over 1-Year […]
‘s Sampath Bank introduces slip-less transactions
Jan 04, 2017 (LBO) – Sampath Bank has launched slip-less transactions to provide their customers greater convenience through a mobile app that is available on iOS and Android, a statement said. With the launch, the slip-less transaction facility will allow customers to carry out cash deposits and withdrawals without filling out any forms. The Bank […]
World Finance declares COMBANK best in Sri Lanka for Digital & Mobile Banking
(PRESS RELEASE) Presents awards for‘Best Digital Bank’ and ‘Best Mobile Banking Application’ in Sri Lanka in 2017 The Commercial Bank of Ceylon PLC has been recognised as the ‘Best Digital Bank’ in Sri Lankaand has been presented the award for the ‘Best Mobile Banking Application’by the prestigious London-based ‘World Finance’ magazine celebrating achievement, innovation and […]
Sri Lanka to raise USD5Bn from Sovereign and Development Bonds in 2018
Jan 04, 2018 (LBO) – Sri Lanka’s cabinet of ministers have given approval to raise up to US 2 billion dollars through foreign commercial borrowings and a further US 3 billion dollars from Sri Lanka Development Bonds (SLDB) to raise the funds for loan repayment and financing of development projects. The proposal was put forward by […]
CB restricts deposit withdrawals of ETI Finance, Swarnamahal Financial Services
Jan 02, 2018 (LBO) – Sri Lanka’s Central Bank has restricted the withdrawal of maturing deposits and renewal of such deposits of ETI Finance and Swarnamahal Financial Services for six months. Central Bank said in a statement that the Monetary Board at its meeting held yesterday decided to appoint a panel to manage the affairs […]
Sri Lanka Cargills bank appoints Theagarajah as new MD, CEO
Jan 02, 2018 (LBO) – The Cargills Bank has appointed Rajendra Theagarajah as its Managing Director and Chief Executive Officer effective from January 1.He joined the bank as a Non Executive Joint Deputy Chairman in December 2016 and served the bank from its inception having been its Deputy CEO and Chief Finance Officer and subsequently […]
Sri Lanka President to make official statement on 2015 bond scam tomorrow
Jan 02, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena will make a statement on recommendations regarding the final report of the Presidential Commission of Inquiry into the 2015 bond scam on January 03. The President appointed the Commission in February 2016 promising strong action against wrongdoers. The said bond was declared on the 27th February 2015 by […]
Sri Lanka extends deadline for exchange of mutilated currency notes
Jan 01, 2018 (LBO) – Sri Lanka’s Central Bank said it had decided to extend the time period for the exchange of currency notes at Licensed Commercial Banks (LCBs ) up to 31 March 2018. The bank made the decision after members of the public revealed their difficulties in exchanging wilfully defaced currency notes at LCBs and […]
HNB rights issue will boost capital, credit positive: Moody’s
July 11, 2017 (LBO) – Hatton National Bank’s rights issue will boost their capital buffer well above the Basel III requirements that took effect in Sri Lanka on 1 July, which is credit positive, Moody’s said in a analysis. Last week, the bank received shareholder approval for a 15 billion rupees right issue and the […]
Sampath Bank to raise Rs6bn in listed debt; Deshal resigns
June 30, 2017 (LBO) – Sri Lanka’s Sampath Bank plans to raise as much as 6 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in a stock exchange filing that they wanted to sell 40 million listed unsecured subordinated convertible debentures at 100 rupees […]
Siyapatha Finance to raise Rs1bn in listed debt
June 29, 2017 (LBO) – Sri Lanka’s Siyapatha Finance is planning to raise as much as one billion rupees from a public offer of debentures which will be quoted on the Colombo Stock Exchange. Siyapatha Finance said in a stock exchange filing that the company wants to sell 10 million listed rated unsecured subordinate redeemable […]