Category: Banking and Finance
Asian Regulatory Reforms to Increase Appetite for Reinsurance: Fitch
Fitch Ratings-Singapore/Hong Kong-22 August 2016: Fitch Ratings believes that various regulatory initiatives in the region could lead indirectly to greater demand for reinsurance, as direct insurers rethink risk-management strategies and appetite. Asian regulators have implemented – or are in the process of implementing – a range of measures that would alter the operating and business […]
Amana Takaful Life Limited shares debut on CSE
(PRESS RELEASE) – Amana Takaful Life Limited (ATLL), a fully-owned subsidiary of Amana Takaful PLC, rang the opening bell to commence trading and celebrate the listing ofits shares on the Diri Savi Board of the Colombo Stock Exchange (CSE) today. The ceremony was attended by Directors of ATLL Dato’ Mohd Fadzli Yusof, Mr. Fazal Ghaffoor, […]
Sri Lanka’s Amana Takaful Life to list on Thursday
Aug 16, 2016 (LBO) – The shares of Amana Takaful Life Limited will be listed on the Colombo Stock Exchange on Thursday, the company said in a stock exchange filing. Accordingly, 50 million shares would be listed on the Diri Savi Board of the CSE and will be classified under Banks, Finance and Insurance sector. […]
Sri Lanka’s LOLC June net up 26-pct amid growing incomes
Aug 16, 2016 (LBO) – Sri Lanka’s LOLC group, which has interests in financial services, insurance, plantations, trading and leisure, said net profit for the June quarter rose 26 percent to 2.3 billion rupees. The group reported basic earnings of 4.92 rupees per share for the quarter up from 3.89 from a year earlier, on […]
Commercial Bank carries solid growth momentum into 2nd quarter of 2016
The Commercial Bank of Ceylon has extended its growth momentum into the second quarter of the year to record robust performance indicators for the six months ending 30th June 2016 amidst increasing costs of funds and shrinking margins. Sri Lanka’s benchmark private bank has reported profit before VAT and NBT of Rs 10.391 billion recording […]
Sri Lanka’s HNB net up 41-pct in June quarter amid income growth
Aug 11, 2016 (LBO) – Group profits at Sri Lanka’s Hatton National Bank surged 41 percent to 3.3 billion rupees in the June 2016 quarter from a year earlier amid strong income growth, interim accounts showed. The group reported basic earnings of 8.56 rupees per share for the quarter, up from 6.19 rupees per share […]
Sri Lanka’s Financial City to build client deposit base 10-pct of GDP
Aug 10, 2016 (LBO) – Sri Lanka’s proposed Financial City aims to attract a client deposit base worth 10 percent of the island’s GDP within a period of 5 years, a cabinet approved proposal said. Cabinet Spokesman Rajitha Senaratne said it has also been decided to commence the initial operations of the Financial City after […]
Sri Lanka’s Sampath Bank profits surge 54-pct in June quarter
Aug 02, 2016 (LBO) – Net profits at Sri Lanka’s Sampath Bank group rose 54 percent to 2.5 billion rupees in the June quarter from a year earlier, interim accounts showed. The group reported earnings of 14.16 rupees for the quarter against 9.20 rupees per share for the same period last year. The share was […]
Sri Lanka’s Commercial Bank to raise Rs7bn from listed debenture
Aug 02, 2016 (LBO) – Sri Lanka’s Commercial Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue listed unsecured rated redeemable subordinated debentures worth 5 billion rupees with an option to go up to 7 billion rupees. The […]
Fitch affirms 10 Finance Companies; expects asset quality to deteriorate
Aug 02, 2016 (LBO) – Fitch Ratings has affirmed the ratings of 10 Finance Companies following its periodic review of the large and midsized finance companies in Sri Lanka. The 10 Finance Companies are People’s Leasing & Finance, Central Finance Company, Melsta Regal Finance, HNB Grameen Finance, LB Finance, Siyapatha Finance, Senkadagala Finance, AMW Capital Leasing And Finance, Singer Finance and Mercantile Investment & Finance. […]
Sri Lanka’s Seylan Bank profits Rs1 bln, flat in June quarter
Aug 01, 2016 (LBO) – Sri Lanka Seylan Bank group recorded a net profit of one billion rupees in the June 2016 quarter up 1 percent from the same period last year, a filing with the stock exchange showed. The group reported earnings of 3.08 rupees per share for the quarter up 1 percent from […]
Asian shares edge up as soft U.S. GDP cuts Fed rate hike bets
TOKYO, Aug 1 (Reuters) – Asian shares ticked up slightly on Monday after disappointing U.S. economic growth data reduced expectations of a rate hike by the U.S. Federal Reserve in the next few months. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent in early trade, staying near its one-year high hit last […]