Category: Banking and Finance
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 […]
Sri Lanka’s HSBC fires five senior managers for figure-fudging
Jun 20, 2016 (LBO) – HSBC Sri Lanka sacked five senior managers following an investigation into allegations that they fudged incentives-linked performance figures, a media report said. “HSBC Sri Lanka has made important senior management changes following an internal investigation,” a spokesperson said, according to a Sunday Times report. Among the terminated employees were two […]
DFCC Bank launches Sri Lanka’s first virtual payment system
Jun 14, 2016 (LBO) – Sri Lanka’s DFCC Bank launched the Vardhana virtual wallet, a mobile application that enables financial inclusion for its customers, Tuesday. The mobile app enables users to simplify the way they transact and stay in control of their finances. The banks customer base is around 300,000 to 400,000 and around a […]
People’s Bank unveils solar power loan scheme
June 13, 2016 (LBO) People’s Bank has launched a solar power loan scheme to promote the use of solar energy as part of its drive towards being a carbon conscious bank. Launched on World Environment Day which falls on 5th June 2016, People’s Bank now offers loans to customers who would like to install solar […]
World Bank downgrades 2016 global growth to 2.4-pct
June 08, 2016 (LBO) – The World Bank is downgrading its 2016 global growth forecast to 2.4 percent from the 2.9 percent pace projected in January, a statement said. “The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows,” the bank said issuing a […]
Commercial Bank begins new series of entrepreneurship programmes for women
The Commercial Bank of Ceylon recently conducted the first of a series of entrepreneur development programmes exclusively for women, in recognition of their importance to the national economy. The programme conducted in Matara in collaboration with the National Enterprises Development Authority (NEDA) was attended by more than 100 women entrepreneurs who are involved in micro, […]
Sri Lanka’s LOLC March net up 46-pct amid growing incomes
June 03, 2016 (LBO) – Sri Lanka’s LOLC group, which has interests in financial services, insurance, plantations, trading and leisure, said net profit for the March quarter rose 46 percent to 2.3 billion rupees. The group reported earnings per share of 4.83 rupees for the quarter up from 3.31 from a year earlier and the […]
Sri Lanka’s People’s Leasing eyes South East Asian market
May 31, 2016 (LBO) – Sri Lanka’s People’s Leasing and Finance, the country’s largest non-bank lender, is looking at expanding their operations into the South East Asian market, a senior official said. “You can expect an announcement soon, may be in the next two months,” D P Kumarage, Chief Executive, People’s Leasing told LBO. “We are […]