Banking and Finance

Support Rating

Mar 09, 2010 (LBO) - Sri Lanka's Seylan Bank in which state ownership increased to 28 percent following a 1.1 billion rupee capital injection has retained its …

Firm Pegs

Mar 08, 2010 (LBO) - Foreign exchange trading profits in Sri Lankan banks plummeted in the December 2009 quarter as a firmer currency peg with the US dollar …

Weak Finances

Mar 08, 2010 (LBO) - Fitch Ratings Lanka said it removed People's Merchant Bank's National Long-term rating from Rating Watch Negative and downgraded the …

Cash Management

Mar 08, 2010 (LBO) - Sri Lanka's investment promotion agency said it has approved an investment by a unit of Lankaclear, the national clearing house, to …

Tax Brake

Mar 07, 2010 (LBO) - Sri Lanka has to cut its high rate of tax on banks to allow the sector to build capital as the economy is poised to grow after a war ended …

Narrow Profits

Mar 07, 2010 (LBO) - Sri Lanka's Pan Asia Banking Corporation's (PABC) December quarter profits fell 70 percent to 19. online pharmacy buy spiriva inhaler with …

Record Numbers

Mar 07, 2010 (LBO) - Sri Lanka's Hatton National Bank group December quarter net profits were up 156 percent from a year earlier to 1,830 million rupees on …

Asset Probe

Mar 07, 2010 (LBO) - Sri Lanka's Supreme Court has ordered a probe on the purchase of a Ceylinco group firm by the chairman of Merchant Bank of Sri Lanka, a …

Finance Offer

Feb 05, 2010 (LBO) - Sri Lanka's Vallibel Finance, a unit of Vallibel group of entrepreneur Dhammika Perera, said it is selling down a 25 percent stake in an …

Banking Move

Mar 05, 2010 (LBO) - Sri Lanka's NDB Bank said its chief executive Eran Wickramaratne has resigned from his post as he plans to enter parliament as a member of …

Senior Interest

Feb 04, 2010 (LBO) - A scheme to pay 'bonus interest' of one fifth above prevailing interest rates to senior citizens from January 01 would cost the people …

Home Loan

Mar 04, 2010 (LBO) – Pan Asia Banking Corporation (PABC) is looking to diversify its loan book by wooing customers to take its 'Express Nivasa' housing …

Joint Action

Mar 03, 2010 (LBO) - Sri Lanka will host the 46th conference of governors of South East Asian Central Banks (SEACEN) and 30th meeting of the SEACEN Board of …

Name Change

Mar 01, 2010 (LBO) - Sri Lanka's listed Seylan Merchant Bank said it was changing its name to SMB Holdings and splitting each existing share in to ten new …

Bank Numbers

Feb 28, 2010 (LBO) – Sampath Bank said its 2009 net group profits rose 36.8 percent to 2.0 billion rupees, while December quarter net was up 72.4 percent …

Bank Return

Feb 26, 2010 (LBO) - Sri Lanka's Hatton National Bank (HNB) said group net profits for the 2009 financial year rose 58 percent to 4.5 billion rupees with gains …

Commercial Profits

Feb 25, 2010 (LBO) - Sri Lanka's Commercial Bank said group December quarter profits rose 8.3 percent to 1,207 million rupees while full year profits were up …

Banking Fortunes

Feb 25, 2010 (LBO) – Sri Lanka's Nation Trust Bank (NTB) group December quarter profits rose 5.0 percent to 181.1 million rupees from a year ago, and …

Branch Expansion

Feb 25, 2010 (LBO) - Sri Lanka's HSBC unit has opened a new branch in the capital Colombo pushing the total up to 15, within weeks of starting a new branch in …

Regional Finance

Feb 23, 2010 (LBO) - An affiliate of Sri Lanka's Sampath Bank in Bangladesh is planning to list its stock brokering firm in the country's booming stock market, …