Banking and Finance

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 …

Bank Sale

Dec 27, 2008 (LBO) – Sri Lanka's Ceylinco group will exit Seylan Bank, a licensed commercial bank, as part of a strategy to raise funds and repay …

Calming Statement

Dec 27, 2008 (LBO) – Sri Lanka's central bank says it is ready to intervene if there is a risk to a registered or licensed financial institution …

Northern Reach

Dec 24, 2008 (LBO) - Sri Lanka's Commercial Bank said it would offer 'Saturday banking' services at its Nelliady branch in the northern Jaffna peninsula, once …

Rate Spike

Dec 24, 2008 (LBO) - Sri Lanka's rates spiked, despite excess liquidity and uncertainty heightened amid problems at a Ceylinco group company in a market that …

Golden Key

Dec 23, 2008 (LBO) - Thousands of anxious customers of Sri Lanka's Golden Key Credit Card Company flocked to a conference hall in Colombo to meet Ceylinco …

Key Problem

Dec 22, 2008 (LBO) – Golden Key Credit Card Company is being rehabilitated after it was mismanaged and its chief executive has resigned, Sri Lanka's …

Buoyed Profits

Dec 22, 2008 (LBO) - RAM Ratings has assigned a claims-paying ability rating of BB to Sri Lanka's Co-operative Insurance Company Limited (CICL) with a stable …

Specialist Lender

Dec 21, 2008 (LBO) – Sri Lanka's Edirisinghe Trust Investments (ETI), a registered finance company, has been upgraded by one notch to 'BB-(lka)' Fitch …

Bangla Buy

Dec 18, 2008 (LBO) – Sri Lanka's listed NDB Bank is taking control of Capital Markets Services Ltd, a licensed merchant bank in Bangladesh, the bank …

Global Sakvithi

PALM BEACH, December 16, 2008 (AFP) - The crime scene, according to prosecutors, is the 17th floor of a stately New York office building, where Bernard Madoff …

Top Ponzi

MADRID, December 15, 2008 (AFP) - European banks were counting at the weekend the damage from the investment scandal involving New York trader Bernard Madoff, …

Golden Years

Dec 13, 2008 (LBO) – With recessionary fears looming the need to secure one's financial future has become even more important, though recent double digit …

Interbank Deal

Dec 10, 2008 (LBO) – Sri Lanka's public listed Commercial Bank of Ceylon says it has sought legal advice over a derivative deal with state-run People's …

SME Funds

HONG KONG, December 8, 2008 (AFP) - Global banking giant HSBC has set up a 5 billion US dollar fund to help small and medium sized businesses get access to …

Domino Effect

Dec 08, 2008 (LBO) - The effects of a payment halt on derivatives by a state-run oil distributor is spreading far into Sri Lanka's banking sector, hurting …

Exposure

Dec 05, 2008 (LBO) – Sri Lanka's Commercial Bank says its liability to a counterparty under an exotic derivative deal arranged for state-run Ceylon …

Finance Rating

Dec 05, 2008 (LBO) - Fitch Ratings Lanka has confirmed Sri Lanka's Vallibel Finance Ltd's (VFL) national long-term rating at 'B+' with a stable outlook. The …

Bank Rating

Dec 05, 2008 (LBO) - Fitch Ratings Lanka has assigned a 'BB+)' national long-term rating to Pan Asia Banking Corporation's (PABC) proposed unsecured, …