Category: Banking and Finance
Com Bank inks deal with Bank Muscut Oman for money transfers
May 03, 2016 (LBO) – Sri Lanka’s Commercial Bank of Ceylon has formalised its tie-up with the Bank Muscat Oman to facilitate remittances to Sri Lanka. Commercial Bank said that remittances will be facilitated through the Bank Muscut’s new mobile banking app, with the signing of an agreement in Muscat. The mobile app makes it […]
Sri Lanka reaches USD1.5Bln support deal with IMF
Apr 29, 2016 (LBO) – Sri Lanka has reached a technical agreement with the International Monetary Fund for 1.5 billion dollars, a statement said. The loan program will need approval by the IMF’s executive board, which is due to consider it in early June. Once approved it is “expected to catalyze an additional 650 million […]
BOI signs 19 agreements worth Rs.319Mn in March 2016
Apr 28, 2016 (LBO) – Sri Lanka’s Board of Investment signed a total of 19 new investment agreements in varied sectors in March 2016, the investment agency said in a statement. The agreements signed are valued of 139 million US dollars and are expected to generate 3100 direct new employment opportunities. As per the BOI […]
BOC confirms its place as No.1 Brand in Sri Lanka
The Authentic Sri Lankan banking leader, BOC once again was bestowed as the No.1 Brand among all the brands in Sri Lanka for the 8th consecutive year by the renowned Brand Finance Lanka through an independent and stringent analysis. Brand Finance Lanka is partnered with the Brand Finance UK with its global network spread in […]
BOC ATMs dispensed record Rs30bn during Avurudu season
The Bank of Ceylon, Leader in the Sri Lankan Banking Industry has set a bench mark of dispensing a record breaking Rs.30.72 Billion from its ATMs during Avurudu season. The Bank has made every possible arrangement to provide the utmost convenient and easy access to cash for its customers during this festive season. Bank has […]
Commercial Bank Dispenses Rs 21.54 billion in first 14 days of April
The Commercial Bank of Ceylon smashed itsrecords for cash dispensed via the Bank’s automated teller machine (ATM) network over a 14 day period this ‘Avurudu’ season, dispensing a jaw-dropping Rs 21.54 billion between 1stand 14thApril. On four of these 14 days, the 625-terminal network dispensed more than Rs 2 billion a day, with the peak […]
Sri Lanka Megapolis official resigns over Panama Papers scandal
Apr 12, 2016 (LBO) – Megapolis and Western Development Ministry today said Ministry Consultant Vidya Amarapala had decided to resign from his post to facilitate inquiry into the Panama Papers leaks. “The attention of the Megapolis and Western Development Ministry has been drawn to the listing of the name of Ministry Consultant Vidya Amarapala in the […]
Sri Lanka’s Janashakthi Insurance appoints Husein Esufally as Chairman
Apr 08, 2016 (LBO) – Sri Lanka’s Janashakthi Insurance announced the appointment of Husein Esufally, as the new Chairman of its Board, following the retirement of W. T. Ellawala, a statemet said. Esufally, prior to the appointment, held the position of Deputy Chairman of the Board of Janashakthi Insurance and its subsidiary Janashakthi General Insurance. […]
Sri Lanka’s SAGT bags 4th place in world terminal productivity rankings
Mar 31, 2016 (LBO) – Sri Lanka’s first private container terminal operator South Asia Gateway Terminals has been ranked as the 4th in the world for Terminal Productivity and number 1 in South Asia by the Journal of Commerce, USA. The Ports Authority said SAGT’s berth productivity performance of 113 container moves per hour and an […]
Cost Management Maturity Model introduced to Sri Lanka
Mar 30, 2016 (LBO) – The first ever ‘Total Cost Management Maturity Model’ practice has been introduced to Sri Lanka by the Confederation of Indian Industry’s Total Cost Management (TCM) division. The signing of the MOU between Institute of Certified Management Accountants of Sri Lanka (CMA) and TCM was held recently at a cost accountants’ […]
ADB announces loan auction for Sri Lankan SME sector
Mar 28, 2016 (LBO) – Asian Development Bank announced the first auction of a 12.5 million US dollar tranche of re-finance funds for Sri Lankan banks to provide loans for small and medium enterprises in Colombo, Monday. “This is the first time ADB is disbursing funds in this manner where funds will be allocated through […]
Sri Lanka’s Singer Finance to raise Rs1.5bn in listed debt
Mar 28, 2016 (LBO) – Singer Finance, a fully owned subsidiary of Singer said it is planning to raise as much as 1.5 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The finance company said in a stock exchange filing that it wanted to sell 10 million debentures […]