Banking and Finance

Leasing Numbers

Dec 03, 2007 (LBO) – Lanka Orix Leasing Company (LOLC) said September quarter net profit fell 48 percent to 86 million rupees from a year ago with a …

Small Finance

Nov 28, 2007 (LBO) – Fitch Ratings Lanka has assigned a 'B+(lka)' National Long-term rating to Sri Lanka's Vallibel Finance Ltd. (VFL) with a stable …

Double Show

Nov 24, 2007 (LBO) – After tax profits of Habib Bank in Sri Lanka almost doubled to 118 million rupees for the nine months ended September 2007, …

Slow Down

Nov 23, 2007 (LBO) – People's Merchant Bank (PMB) net profit for the September quarter fell 13 percent year-on-year to five million rupees, according to …

NPL Hit

Nov 22, 2007 (LBO) – The Sri Lanka branch of HSBC has taken a record 1.4 billion rupee hit from bad loans which saw net profits plummeting 56 percent in …

Slow Quarter

Nov 22, 2007 (LBO) – Sri Lanka's PABC Bank said net profit for the September quarter was down five percent year-on-year to 40 million rupees. Interest …

Investment Grade

Nov 20, 2007 (LBO) – Senkadagala Finance (SF) has seen slower lending and faster growth in higher purchase loans, Fitch Ratings Lanka said, confirming …

Lite Ceiling

Nov 19, 2007 (LBO) – The piercing of the sovereign ceiling by a Sri Lankan telco has raised hopes of better credit ratings for the country's top …

Tele Rating

Nov 19, 2007 (LBO) – Fitch Ratings has confirmed Sri Lanka Telecom's BB- rating with a negative outlook and its AAA (lka) national rating with a stable …

Lease Rate

Nov 19, 2007 (LBO) - Fitch Ratings Lanka said Friday it has confirmed the 'BB+(lka)' National Long-term rating of Seylan Merchant Leasing Limited (SML). The …

Capital Issue

Nov 16, 2007 (LBO) – Sri Lanka's state-owned Bank of Ceylon (BOC), the main commercial banker to the government, is planning to raise six billion rupees …

No Porn

Nov 16, 2007 (LBO) – Sri Lanka's banks said they would dump customers who paid for child pornography though their services and would also report them to …

Forging Ahead

Nov 15, 2007 (LBO) – Commercial Bank of Ceylon has reported a net profit growth of 30 percent to 1.1 billion rupees in the quarter ended September 2007 …

Bank Number

Nov 14, 2007 (LBO) – Sri Lanka's National Development Bank (NDB) net profit for the September rose 45 percent to 298 million rupees, with a deferred …

Fresh Start

Nov 14, 2007 (LBO) – One of the youngest stockbrokering firms in Sri Lanka, which started as a unit of the First Capital Group is now operating as an …

Guarantee Game

Nov 12, 2007 (LBO) – Loan guarantees given by the Sri Lanka government to financial institutions shot up 45 percent in 2007 as the state took over credit …

Steady Course

Nov 12, 2007 (LBO) – Sri Lanka Seylan Bank group's after tax profits increased 41.4 percent in the third quarter ending in September while turnover grew …

Savings Giant

Nov 09, 2007 (LBO) – Fitch Sri Lanka has affirmed the National Savings Bank's (NSB) 'AAA(lka)' rating with a stable outlook, but said high taxes and …

Be Careful

Nov 08, 2007 (LBO) – Sri Lanka's shaky budgets and complementary monetary policy are the biggest dangers to the banking system, an international rating …

Central Rating

Nov 06, 2007 (LBO) – Fitch Ratings Lanka has confirmed Central Finance Company's (CF) long-term rating of 'A+ (lka)' with a 'stable' outlook. CF has a 20 …