Banking and Finance

Risk Management

March 23, 2009 (LBO) - The International Finance Corporation said it is helping bank executives in Sri Lanka and other South Asian countries to understand and …

Rating Cut

Mar 20, 2009 (LBO) - Sri Lanka's The Finance Company (TFC) has lost its investment grade rating with a two notch downgrade to 'BB+(lka)' from 'BBB(lka)' with …

Cash Management

Mar 20, 2009 (LBO) - Balance sheets of Sri Lanka's non bank financial firms have shrunk over 10 percent in two months as jittery savers took cash out, but the …

Group Rating

Mar 20, 2009 (LBO) - Fitch Ratings has confirmed the 'AAA(lka)' rating of Sri Lanka's John Keells Holdings (JKH) with a 'stable' outlook. buy bactroban online …

State Support

Mar 17, 2009 (LBO) - A Sri Lankan state-run bank that has lent money to a controversial state airline will get a 400 million rupee injection from the Treasury …

Managed Finance

Mar 16, 2009 (LBO) – Sri Lanka's The Finance Company, a member of the troubled Ceylinco group, will be run by a former senior state bank executive who …

Default Window

Mar 16, 2009 (LBO) - Defaulters in Sri Lanka whose leased assets have been seized by financial institutions will be given a one month window to pay a quarter …

Scandalous Truth

Mar 15, 2009 (LBO) – India's Satyam collapsed due to the company pouring millions of dollars into undisclosed real estate assets that delivered inflated …

Credit Watch

Mar 14, 2009 (LBO) - Fitch Ratings has put the 'BBB-(lka)' rating of Sri Lanka's People's Merchant Bank (PMB) on a negative watch after the firm said it was …

Takeover Track

March 14, 2009 (LBO) - Fitch Ratings Lanka has confirmed the 'A-(lka)' rating of People's Leasing Company (PLC) with a stable outlook following its …

Overseas Outlook

Mar 13, 2009 (LBO) – Sri Lanka's Hatton National Bank (HNB) said it is going ahead with overseas expansion in South Asia and the Middle East despite a …

Good Year

Mar12, 2009 (LBO) – Sri Lanka's Sampath Bank group has posted a profit of 1.49 billion rupees for the 2008 financial year, up 30 percent from 2007, in …

Payment Plan

Mar 12, (LBO) - Prosecutors, customers and officials of Sri Lanka's failed Golden Key Credit Card Company of the Ceylinco group are to discuss a trust …

No Problem

Mar 10, 2009 (LBO) – Managers of Sri Lanka's state-run pension fund of private sector workers, under fire for investing funds for state purposes as a …

Hatton Performance

Mar 10, 2009 (LBO) – Sri Lanka's Hatton National Bank group has reported profits of 3,830 million rupees in 2008, down 10.1 percent over the previous …

Better Margins

March 08, 2009 (LBO) - Sri Lanka's Nations Trust Bank (NTB) said group net profit rose 17 percent to 593 million rupees in 2008 from a year ago and that it …

Intervention

Mar 06, 2009 (LBO) – Sri Lanka's central bank said it is looking for managing agents for two registered finance companies in the troubled Ceylinco group …

Leasing Sale

March 06, 2009 (LBO) - Sri Lanka's largest leasing company is in talks to buy a leasing company in the island's Ceylinco group, a listed investment bank in the …

Management Chat

Mar 06, 2009 (LBO) - Merchant Bank of Sri Lanka, (MBSL) a unit of state-run Bank of Ceylon, said it was in talks with the regulator to manage and rehabilitate …

Flat Rate

Mar 06, 2009 (LBO) – Commercial Bank of Ceylon group has reported profits of 4,118.9 million rupees for the year ended December 2008, lower by 0.7 …