Category: Banking and Finance
Citizens Development Business (CDB) goes live with Intellect DIGITAL FACE
(PRESS RELEASE) – Customer centric Digital Channel solution with an omni-channel experience Intellect Design Arena Ltd, a digital technology product provider across Banking and Insurance, today announced that Citizens Development Business Finance PLC (CDB) has gone live with Intellect’s DIGITAL FACE, an Omni Channel solution catering to demands of the modern customers. CDB will now […]
Central Bank releases new publication “A Survey of Financial System”
(PRESS RELEASE) – The Central Bank today launched a new book titled “A Survey of Financial System” authored by Mr. P Samarasiri, Deputy Governor. This is the fourth book authored by Mr. Samarasiri and published by the Central Bank. The book’s presentation is targeted for students, teachers and policymakers who look for basics on financial […]
Pan Asia Bank gets 3 months to comply with interim capital requirements
Feb 01, 2017 (LBO) – Sri Lanka’s Central Bank has extended the time period allocated to raise the interim capital requirement of Pan Asia Bank by three months. The bank said in a stock exchange filing that the Monetary Board of the Central Bank has extended the period to comply with the interim requirement from […]
‘s Central Bank extends Amana Bank’s deadline to raise capital
Jan 30, 2017 (LBO) – Sri Lanka’s Central Bank has extended the time allocated to raise the core capital requirement of Amana Bank to 7. 5 billion rupees by six months. The bank said in a stock exchange filing that the letter issued by the Central Bank on 15 January 2017 has extended the time […]
Former Governor Mahendran “NOT” working at Ministry: Ravi
Jan 24, 2017 (LBO) – Sri Lanka’s Finance Minister has denied reports that former Governor of the Central Bank, Arjun Mahendran is attached to his ministry or the Central Bank, a statement said. “The Ministry of Finance wishes to inform that Arjun Mahendran, the former Governor of the Central Bank of Sri Lanka, is not working in […]
Bank of Ceylon becomes first bank in Sri Lanka to surpass Rs1 trillion advances
The Bank of Ceylon scored its third “Trillion” at the end of the year 2016. That is surpassing the Rs. One trillion mark in advances- another unique milestone in its 77-yearjourney as “the Bankers to the Nation” and becoming the first ,and up to now the only bank to pass this milestone in Sri Lanka. […]
Standard Chartered’s “Welcome to the jungle” Global Research Briefing 2017
(PRESS RELEASE) – 18 January 2017, Colombo, Sri Lanka – Standard Chartered’s Global Research Team has included Sri Lanka as part of its Global Research Briefing circuit, and will conduct a closed-door exclusive session entitled “Welcome to the Jungle” for the bank’s clients on Tuesday 24 January 2017. Standard Chartered’s key economic researchers Dave Murray […]
Fitch affirms nine Sri Lankan banks, revises sector outlook to negative from stable
Jan 13, 2016 (LBO) – Fitch Ratings, a credit ratings agency has affirmed the long-term issuer default ratings (IDRs) of nine local banks and revised its sector outlook to negative from stable, a statement said. It affirmed the National Savings Bank (NSB) at ‘B+’; Outlook Negative, Bank of Ceylon (BOC) at ‘B+’; Outlook Negative and […]
Sri Lanka tea see good demand at auction
Jan 11, 2016 (LBO) – Sri Lanka tea’s weekly Auction concluded seeing good demand with high grown tea prices recording gains and low grown teas fluctuating, a report said. “There was good demand. Prices for low grown teas tend to fluctuate whilst the prices for high and medium grown small leaf teas continued to be buoyant,” […]
‘s credit rating upgrade depends on IMF compliance: Fitch
Jan 10, 2017 (LBO) – Sri Lanka’s potential improvements in sovereign credit profiles will depend on the country’s level of compliance with IMF conditions, as implementation risks are often high, Fitch Ratings says. Support from the IMF has helped to mitigate external liquidity risks and reduced the medium-term default risks in several frontier markets that entered […]
‘s LankaPay Common ATM Network
(PRESS RELEASE) – ICICI Bank, India’s largest private sector bank by consolidated total assets, recently joined ‘LankaPay Common ATM Network’, the national payment network that facilitates high quality electronic financial services at affordable prices in a secure, reliable and convenient manner to all in Sri Lanka. This marks a definitive step towards enriching customer experience. The […]
Sri Lanka Amana Bank seeks foreign investors for capital enhancement
Dec 30, 2016 (LBO) – Sri Lanka’s Amana Bank today said its director board is currently in discussions with prospective foreign investors to enhance their capital in line with Central Bank requirements. The budget 2017 proposed to increase the minimum core capital level from the current 10 billion to 20 billion rupees for all licensed […]