Banking and Finance

Private Issue

Dec 04, 2008 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) has raised one billion rupees through a 5-year private placement, an official said. The …

Outlook Cut

Dec 04, 2008 (LBO) – Fitch Ratings has cut the outlook of Sri Lanka's The Finance Company (TFC) from 'stable' to 'negative' but confirmed its investment …

Secure Plastic

Dec 02, 2008 (LBO) - Sri Lanka's Sampath Bank has launched chip-embedded credit cards in a bid to outsmart credit card fraudsters who are increasingly …

Standard Numbers

Dec 01, 2008 (LBO) – Sri Lanka's Standard Chartered Bank unit has reported a net profit increase of 55 percent to 1,803 million rupees in the 9-months …

Citi Profits

Dec 01, 2008 (LBO) - Profits of the Sri Lanka unit of Citibank soared 134 percent in the 9-months to September 2008 to 1,276 million rupees, driven by a steep …

State Facts

Dec 01, 2008 (LBO) – Net profits of state-run Bank of Ceylon fell 5.6 percent in the 9-months to September while revenues grew 20.6 percent to 43.9 …

Hedge Saga

Nov 29, 2008 (LBO) - Sri Lanka's Standard Chartered Bank unit says it was not directly affected by a court order which halted payments due under a hedge it …

Steady State

Nov 28, 2008 (LBO) – Sri Lanka's National Development Bank's net profits for the September 2008 quarter rose 18 percent to 351 million rupees, interim …

Hatton Profits

Nov 28, 2008 (LBO) – Sri Lanka's Hatton National Bank group profits were up 6 percent to 807.3 million rupees with revenues up 16 percent to 9,665.3 …

James Bond

Nov 26, 2008 (LBO) - An Aston Martin car, believed to be one of few such vehicles in Sri Lanka has been seized following action filed by HSBC Bank, lawyers …

Banking Profits

Nov 25, 2008 (LBO) – Profits at HSBC Sri Lanka has increased 94 percent to 1,664 million rupees in the first 9-months of 2008 despite large loan …

Bailout

WASHINGTON, November 24, 2008 (AFP) - The US government late Sunday vowed to protect struggling banking giant Citigroup against "unusually large losses" and …

Capital Raising

SINGAPORE, November 24, 2008 (AFP) - British-based Standard Chartered bank said Monday it plans to raise 1.78 billion pounds (2.66 billion US dollars) in a …

LBR-LBO CEO Forum

Nov 24, 2008 (LBO) – Sri Lanka's Hatton National Banks (HNB) micro finance default rate is lower than the bank average default rates due to the shame …

CEO forum

Nov 24, 2008 (LBO) – Sri Lanka's Hatton National Banks (HNB) micro finance default rate is lower than the bank average default rates due to the shame …

Financial Turmoil

Nov 20, 2008 (LBO) - A senior Sri Lankan central banker says the collapse of the global financial sector has underlined the value of real output and resources …

Lease Rating

Nov 17, 2008 (LBO) - Fitch Ratings Lanka has confirmed People's Leasing Company (PLC) national long-term rating at 'A-(lka)' with a stable outlook, but warned …

Bank Trends

Nov 17, 2008 (LBO) - Sri Lanka Commercial Bank group net profit for the September quarter rose 6.81 percent to 937.5 million rupees from a year ago although …

Slim Gains

Nov 17, 2008 (LBO) – Sri Lanka’s Pan Asia Bank Corporation said net profit for the September quarter grew 14 percent to 46 million rupees, with tax …

Finance Rating

Nov 15, 2008 (LBO) - Fitch Ratings Sri Lanka has confirmed a BB+(lka) long term rating of Trade Finance and Investment Ltd (TFI) with a stable outlook. "TFI's …