Equity Gains
March 07, 2008 (LBO) – Lanka Orix Leasing Company (LOLC) December quarter profits were boosted 250 percent with unrealized equity gains, while revenues …
Banking and Finance
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Tough Times
Mar 06, 2008 (LBO) – Fitch Sri Lanka has downgraded the national long term rating of Sinhaputhra to 'BB- (lka)' from 'BB (lka)' with a negative outlook, …
Asset Class
Mar 05, 2008 (LBO) – Borrowing for day to day government spending has increased the cost of money for Sri Lankan companies and families struggling to get …
Asset Class
Mar 05, 2008 (LBO) – Borrowing for day to day government spending has increased the cost of money for Sri Lankan companies and families struggling to get …
Chief Shuffle
Mar 04, 2008 (LBO) – HSBC's Sri Lanka and Maldives operations would be headed by Nick A Nicolaou, a senior banker who had been with the group from 1977, …
Commercial Profits
March 4, 2008 (LBO) – Sri Lanka's Commercial Bank group reported net profits of 4.1 billion rupees double that of last year, while revenues grew 44 …
Hatton Number
Mar 03, 2008 (LBO) – Hatton National Bank group net profits went up 40 percent to 3.2 billion rupees in 2007, as revenues increased 37.6 percent, results …
Outside Aspirations
Mar 03, 2008 (LBO) – Sri Lanka's Hatton National Bank is keen to get into Bangladesh though its first attempt to buy into a bank in that country was not …
Lease Savings
Mar 01, 2008 (LBO) – Seylan Merchant Leasing, a unit of Sri Lanka's Ceylinco group said it has raised 1.3 billion rupees in deposits after it was …
Banking Trend
Feb 29, 2008 (LBO) – Sri Lanka's Seylan Bank group full year profits grew four percent to 911 million but December quarter profits dipped amid lower loan …
Steady Course
Feb 28, 2008 (LBO) – Sri Lanka's NDB Bank profits grew 17 percent in the December quarter, and full year 2007 profits were also up, when a one-off …
Pyramid Schemes
Feb 29, 2008 (LBO) – The Central Bank Friday warned that new 'pyramid schemes' that have been banned are making an appearance in different parts of the …
Mobile Payments
Feb 28, (LBO) – Sri Lanka's state-run Bank of Ceylon has tied up with an Indian mobile commerce firm to start a text message based electronic payment …
Credit Call
Feb 28, 2008 (LBO) – Ten Sri Lankan state banks have joined a government public information service with the aim of giving the public better access to …
Wary Steps
Feb 27, 2008 (LBO) – The sub-prime loan default crisis in the United States has underlined the value of traditional risk management practices, but …
Oil Skills
Feb 25, 2008 (LBO) – Sri Lanka's central bank plans to hire professionals with expertise in the petroleum industry to support the government's oil …
Bank Ownership
Feb 24, 2008 (LBO) – Sri Lanka's DFCC Bank has taken the Central Bank to court in a legal challenge on restrictions on its ownership of another bank in …
Credit Crunch
Feb 23, 2008 (LBO) – Loans approved by Sri Lanka's DFCC Bank in the nine months to December 2007 has plunged to 10 billion rupees from 17 billion a year …
Hop Across
Feb 21, 2008 (LBO) –Standard & Poor's will start an office in India allowing a closer watch on Sri Lanka and other South Asian nations, the rating agency …
National Pension
Feb 21, 2008 (LBO) – Sri Lanka's state-run savings giant, National Savings Bank entered the pensions market with a campaign specifically targeted at …