Category: Banking and Finance
‘s One Account to meet long felt need in banking, wealth management
July 07, 2016 (LBO) – Sri Lanka’s NDB Bank recently launched “One Account” to meet a need in the retail affluent segment, a bundled offering of a current account together with a credit card and a high-yielding money market fund. Given the disjointed products currently offered to consumers in the banking industry, with inadequate returns, […]
Sri Lanka to collaborate with Guangdong Gems and Jade Exchange
Jul 05, 2016 (LBO) – Sri Lanka Gem and Jewellery Association (SLGJA) together with the National Gem and Jewellery Authority signed a Memorandum of Collaboration with the Guangdong Gem and Jade Exchange to develop more trade opportunities. “The agreement signifies a new phase of development between the trades of Sri Lanka and China to explore further mutual-beneficial cooperation […]
Motor car registrations down sharply from Sept peak: JB Securities
July 05, 2016 (LBO) – Motor car registrations in Sri Lanka recorded 3,657 units in May, slightly down from 3,664 units in April, but significantly lower than a peak 14,544 registrations last September, data from JB Securities shows Premium cars, three wheelers, two wheelers and mini trucks, however, showed an increase in May over April. […]
Commercial Bank adds crosscurrency transactions to Online Banking
The Commercial Bank of Ceylon has added a new dimension to its Online Banking platform by enabling foreign currency account holders to carry out fund transfers between accounts maintained in different currencies other than Sri Lankan rupees. These transactions can be carried out between accounts maintained under a customers own namein eight major currencies including […]
Sri Lanka’s Seylan Bank to raise Rs5bn in listed debt
June 28, 2016 (LBO) – Sri Lanka’s listed Seylan Bank is planning to raise as much as 5 billion rupees from a sale of debenture which will be quoted on the Colombo Stock Exchange. The stock exchange said the company wanted to sell 30 million debentures at 100 rupees each with an option to issue […]
Secretariat for NGOs asks microfinance firms to register
June 28, 2016 (LBO) – National secretariat for non governmental organizations has asked micro finance institutions that operate in the island to promptly register with them as per the newly enacted legislation. The microfinance act no 6 of 2016 requires all institutions that carry out micro finance and micro credit operations to register with the […]
Commercial Bank launches Sri Lanka’s first Remittance Card
Sri Lanka’s first Remittance Card has been launched by the Commercial Bank of Ceylon to introduce a new dimension in convenience to the process of transferring funds from overseas to local beneficiaries. A branded Debit cum ATM Card licensed by Visa Inc. and issued locally by Commercial Bank to recipients of remittances, the new Remittance […]
Sri Lanka may approve two blocks for exploration and drilling: PRDS
June 27, 2016 (LBO) – Sri Lanka could shortly approve petroleum exploration and drilling for two blocks in the Cauvery basin, as bidders in the 2013 licensing round have recommitted to their bids, a government official said. “The government has already gone through the approval process for these bids, and bidders have recommitted to their […]
Sri Lanka to support China over South China Sea issue with Philippines
June 23 (Reuters) – China’s Foreign Ministry on Thursday brushed off doubts about how many countries have offered support for its position in a case brought by the Philippines over Chinese claims in the South China Sea, saying the number of nations was growing daily. China has stepped up its rhetoric ahead of an expected […]
Fitch Downgrades NDB; Affirms 8 Sri Lanka Banks, Negative Outlook on DFCC, Sampath
Jun 23, 2016 (LBO) – Sri Lanka’s National Development Bank PLC’s (NDB) national long term rating has been downgraded to ‘A+(lka)’ from ‘AA(lka)’, Fitch rating said in a statement. The ratings on eight other Sri Lanka banks have been affirmed. The outlooks have been revised on DFCC Bank PLC’s (DFCC) and Sampath Bank PLC’s (Sampath) national longterm […]
Seylan launches 1st digitally assisted customer support channels via WhatsApp and Facebook
June 2016 Colombo: Reinforcing its credentials as a technology-savvy bank focusing on increasing customer convenience and engagement, Seylan Bank demonstrated its customer centric digital preparedness by launching Sri Lanka’s first social media-based customer support channels via WhatsApp and Facebook Messenger. Pre-empting how technology will redefine its relationship with its customers, Seylan Bank’s digital thrust has […]
‘s revises ratings outlook of BOC, HNB & Sampath Bank to negative
June 21, 2016 (LBO) – Moody’s Investors Service has revised ratings outlooks of three banks in Sri Lanka to negative from stable. The affected banks are Bank of Ceylon, Hatton National Bank and Sampath Bank. The rating actions follow the affirmation of Sri Lanka’s B1 sovereign rating, and the change in outlook on the sovereign […]