Banking and Finance

Under Pressure

Nov 05, 2007 (LBO) - Fitch Ratings says Sri Lanka’s finance companies are coming under stress from the current high interest rates and inflation, which …

High Growth

Nov 05, 2007 (LBO) – Lanka Orix Leasing Company (LOLC) has grown 40.3 percent in the year to March 31 2007 compared to the rest of the industry which …

Fresh Face

Nov 02, 2007 (LBO) – Sri Lanka's newest registered finance company, Swarnamahal Financial Services (SFS), kicked off this week offering a range of …

Big Bank

Oct 20, 2007 (LBO) – Fitch Ratings Lanka has affirmed the National Long-term rating and Individual Rating of Bank of Ceylon (BOC) at 'AA(lka)' and 'D/E' …

Minor Injuries

Oct 16, 2007 (LBO) – As global markets are going through a painful hangover from a US housing bubble, the head of a 'big four' accounting firm says Asia …

Higher Stake

Oct 15, 2007 (LBO) – People's Merchant Bank (PMB) shares shot up 15.50 rupees to 55 rupees in Monday morning trading on the Colombo bourse as the firm …

Bouncing Cheques

Oct 15, 2007 (LBO) – Sri Lanka's Central Bank said Monday that cheque returns were too high and warned customers that issuing cheques without funds was …

Capital Boost

Oct 05, 2007 (LBO) – Sri Lanka's state-owned Peoples' Bank (PB) is on track to get a credit upgrade if its capital is boosted to regulatory requirements, …

Health Injection

Oct 01, 2007 (LBO) - Aureos South Asia Fund (ASAF) has invested five million dollars in an Apollo hospital in Bangladesh, the South Asian focused investment …

Going Well

Sept 27, 2007 (LBO) – Fitch Ratings Lanka which confirmed the AAA (lka) national rating of Citibank's Sri Lanka branch said its interest margins were …

Apples and Oranges

Sept 25, 2007 (LBO) – The International Monetary Fund which has warned of further fallouts from the sub-prime crisis has called on credit evaluators to …

Biometric Banking

Sept 24, 2007 (LBO) – ICICI Bank, India's second-largest bank, is planning to demonstrate in Sri Lanka its smart card technology that helped create …

Reach Out

Sept 23, 2007 (LBO) – Sri Lanka's Central Bank governor Ajith Nivard Cabraal has urged the banking community to reach out to the rural poor saying the …

LBR-LBO CFO Forum

Sept 22, 2007 (LBO) – The Sri Lankan chief financial officer's job has become more challenging but the position retains its strategic importance and …

Capital Boost

Sept 20, 2007 (LBO) –Sri Lanka's Seylan Bank said it was going ahead with a plan to raise new debt to beef up its capital base and meet Central Bank …

Global Cover

Sept 19, 2007 (LBO) – Sri Lankans traveling abroad can apply for international health insurance introduced by Aviva Insurance that will cover the cost of …

Travel Services

Sept 19, 2007 (LBO) – Nations Trust Bank said Wednesday it remains the sole issuer of American Express credit cards and other travel services despite the …

Reality Time

Sept 18, 2007 (LBO) – Bad debts in Sri Lanka's banks are rising and loan to deposit ratios are deteriorating as the lagged effects of a credit bubble …

Operating Rules

Sept 10, 2007 (LBO) – Sri Lanka's Central Bank plans to enforce tough new mandatory rules next year that include provisions to encourage …

Support Rating

Sept 10, 2007 (LBO) - Fitch Ratings Lanka has confirmed DFCC Vardhana Bank Limited's (DVB) National Long-term rating at 'AA-(lka)' with a stable outlook. …