Banking and Finance

Bonus Interest

Jan 27, 2009 (LBO) - Sri Lanka's Central Bank said the government will pay a 20 percent bonus interest in rupees on the interest earned on foreign currency …

Liquidity

Jan 23, 2009 (LBO) - Sri Lankan registered finance company sector (RFC) which has been shaken by recent collapses of unregulated institutions should be able to …

Travel Ban

Jan 19, 2009 (LBO) – Sri Lanka's central bank said it had won a court order impounding the passports of several officials of Okanda Finance Limited, an …

Counter Measures

Jan 15, 2009 (LBO) – People's Leasing Company, Sri Lanka's largest leasing firm, is slowing new lending and focusing on recoveries as a prudential …

Interest Trends

Jan 13, 2009 (LBO) – Sri Lanka's LB Finance said net profit for the December quarter rose 39 percent to 84 million rupees from a year ago, with interest …

Legal Tangle

Jan 11, 2009 (LBO) - The widening fallout on Sri Lanka's inter bank markets of petroleum derivatives suspended by court took a new turn this week with …

Stable Path

Jan 09, 2009 (LBO) – Sri Lanka's Seylan Bank is now stable and is focusing on improving asset quality, and some customers who earlier withdrew deposits …

Wide Interest

Jan 07, 2008 (LBO) - Five potential investors have expressed interest in Sri Lanka's Seylan Bank including two foreign buyers, after its controlling Ceylinco …

Court Action

Jan 06, 2008 (LBO) – A Sri Lankan court has remanded three persons connected with Golden Key Credit Card Company, a crashed financial firm of the …

Cell Rules

Jan 04, 2009 (LBO) – Sri Lanka will issue new rules covering financial transactions through mobile phones, Central Bank Governor Nivard Cabraal said, as …

Liquidity Status

Jan 02, 2009 (LBO) – Sri Lanka has no need for a liquidity facility for finance companies yet, central bank governor Nivard Cabraal said, as the sector …

Confidence Building

Dec 31, 2008 (LBO) - There is no danger in dealing with Sri Lanka's regulated financial sector and authorities have acted swiftly to build confidence in Seylan …

Equity Deals

Dec 31, 2008 (LBO) – A proposed sale of Sri Lanka's Seylan Bank shares by the Ceylinco group can go ahead under standard rules governing such deals, …

New Pilots

Dec 30, 2008 (LBO) – Three new directors has been appointed to Sri Lanka's Seylan Bank, which was put under the control of a state bank by the monetary …

Trade Halt

Dec 30, 2008 (LBO) – Sri Lanka’s Seylan Bank trade halt was removed at 12.45 pm Tuesday following clearance from the Colombo Stock Exchange (CSE) …

Web Pay

Dec 30, 2008 (LBO) - Sri Lanka's Commercial Bank said it has extended its 'Paymaster' online payment facility to handle Employees' Trust Fund (ETF) retirement …

Bank Statement

Dec 29, 2008 (LBO) - Sri Lanka Seylan Bank has a issued a statement on a planned sale of its shares by the Ceylinco group. Seylan Bank is a licensed commercial …

No Control

Dec 29, 2008 (LBO) – Sri Lanka's Ceylinco Insurance says its board has not been given control of Golden Key Credit Card Company, a troubled Ceylinco …

Foreign Ratings

Dec 29, 2008 (LBO) - The 'AAA(lka)' ratings of Sri Lanka branches of Citibank and Standard Chartered are not affected following a court order that halted …

Local Banks

Dec 29, 2008 (LBO) – Sri Lanka 'AA+(lka)' rated Commercial Bank's rating is unlikely to be changed following potential hedging losses after courts halted …