Banking and Finance

Liquidation Status

Jan 23, 2010 (LBO) - Sri Lanka's central banks says depositors of several failed financial firms are being settled according to court directions and others …

Bank Block

WASHINGTON, January 22, 2010 (AFP) - President Barack Obama unveiled plans Thursday to limit the size and scope of US banks and financial firms in a new …

Rate Cut

Jan 22, 2010 (LBO) - Sri Lanka's central bank said loans given to war torn northern and eastern areas for economic revival under a special scheme would be cut …

Northern Banking

Jan 21, 2010, JAFFNA (LBO) - A bank specializing in lending to Sri Lanka's war torn north of the island will be set up Central Bank governor Nivard Cabraal …

Tax Plan

Jan 19, 2010 (LBO) - Sri Lanka is looking to reduce taxes on banks over the next few years allowing banks to generate more funds to recapitalize, as the …

Liberty

Jan 18, 2010 (LBO) - The first part of a series of forex control relaxations announced in January will be implemented from February 01, Central Bank Governor …

Key Bail

Jan 17, 2010 (LBO) - Sri Lanka's Supreme Court has granted bail to the chief executive and a director of the failed Golden Key Credit Card Company and ordered …

Under Fire

WASHINGTON (AFP) - Federal Reserve chairman Ben Bernanke said Thursday the US central bank should keep its role as a regulator of the banking system as a way …

Finance Trend

Jan 11, 2009 (LBO) - Sri Lanka's finance company profits would pick up in 2010 as deposit rates falls, helping offset some credit losses, but asset quality may …

Relief

Jan 08, 2010 (LBO) – Sri Lanka’s Central Bank said it will make another part-payment to depositors of Golden Key Credit Card Company, subject to a …

Close Watch

Jan 05, 2010 (LBO) – Sri Lanka’s Central Bank intends to monitor more closely banking sector group companies to improve its supervision of …

Interest Limit

Jan 04, 2010 (LBO) – Sri Lanka’s Central Bank said it has raised the ceiling on interest rates paid by registered finance companies and also …

Bailout Ceiling

Jan 04, 2010 (LBO) – Sri Lanka's Central Bank said a new mandatory deposit insurance scheme to be introduced this year will cover up to 100,000 rupees …

Steady State

Dec 24, 2009 (LBO) – Rating agency Fitch confirmed Union Bank of Colombo Limited's long term rating of 'BB+(lka), reflecting the bank's moderate asset …

Steady Outlook

Dec 24, 2009 (LBO) – Pan Asia Bank had its long term national rating of BBB-(lka), which carries a stable outlook, confirmed by Fitch Ratings Lanka. …

Mortgage Outlook

Dec 21, 2009 (LBO) - Sri Lanka's Fitch Ratings has lifted the outlook on the 'BBB+(lka)' rating on Housing Development Corporation Bank (HDFC) to 'stable' from …

Quick Recovery

Dec 18, 2009 (LBO) – The long term rating of People's Merchant Finance Company has been upgraded from B+ to BBB-, on the strength of its t company …

Finance Rating

Dec 17, 2009 (LBO) – RAM Ratings Lanka has confirmed the long term rating of Bartleet Finance Limited at BBB- and its short term rating at P3, but its …

Managed Finance

Dec 16, 2009 (LBO) - Sri Lanka's Central Bank said it has appointed People's Leasing Company as managing agent of Industrial Finance Limited, a company facing …

Liquidity Support

Dec 16, 2009 (LBO) - Sri Lanka's central bank said it will guarantee loans given by banks to registered leasing and finance companies in liquidity trouble, …