Bailout Probe
May 08, 2007 (LBO) -- Sri Lanka has appointed a special presidential commission to probe finance companies that went bust in the past, after the country's top …
Banking and Finance
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Hatton Profits
May 08, 2007 (LBO) – Hatton National Bank's group net profit grew 33 percent to 344 million rupees with a strong 46 percent growth in foreign exchange …
Billion Mark
May 08, 2007 (LBO) – Commercial Bank has reported group net profit growth of 37 percent to 1,028.8 million rupees for the first quarter ended March, with …
Large Loan
May 01, 2007 (LBO) – Bank of Ceylon said it had completed Sri Lanka's largest international syndicated loan when it raised 210 million dollars in a …
Air Attack III
April 29, 2007 (LBO) – Sri Lanka cut power to the capital Colombo early Sunday local time, when millions were watching their team bat in the finals of …
Land Locked
April 28, 2007 (LBO) – A deal to sell a prime commercial property belonging to a troubled state trading firm to a state-bank has got deadlocked with …
Dollar Deal
April 27, 2007 (LBO) – State-owned Bank of Ceylon's syndicated dollar loan has been able to raise more money than originally envisaged. (US Dollar = 110 …
Small Credit
April 27, 2007 (LBO) – The International Finance Corporation (IFC) has joined hands with six Sri Lankan private banks to educate small and medium …
Micro Finance
April 26, 2007 (LBO) – Islamic Financier Amana Investments Limited has introduced a new microfinance scheme for micro-entrepreneurs who cannot afford …
Comfort Rating
April 25, 2007 (LBO) – Fitch Ratings has affirmed Merchant Credit of Sri Lanka's investment grade BBB (lka) rating but said the finance companies …
Real Issue
April 24, 2007 (LBO) – High negative real rates paid to savers have seen deposit growth at Sri Lanka's National Savings Bank plunge to a record low in …
Secret Confiscation
April 23, 2007 (LBO) – The losses caused to a pension fund of two million Sri Lankan workers by the authorities through the use of a barely understood …
Changing Heads
April 23, 2007 (LBO) – Lanka Orix Leasing Company, a listed leasing company, had hired Citibanker Kapila Jayawardena as Group Chief Executive Officer, …
Different Strokes
April 18, 2007 (LBO) – Fledgling Islamic insurer, Amana Takaful Insurance (ATI), which was listed on the second board of the Colombo bourse last …
Merchant Rating
April 18, 2007 (LBO) – Merchant Bank of Sri Lanka, a listed subsidiary of the state-owned Bank of Ceylon, has received a AA3 rating for its proposed 600 …
Trishaw Finance
April 18, 2007 (LBO) – A small Sri Lankan finance company to which specializes in funding three-wheeled auto-rickshaws is showing high profitability, …
Squeezed Through
April 18, 2007 (LBO) - Fitch Ratings Lanka Wednesday confirmed Ceylease Financial Services Ltd's (CFS) national long-term rating at 'BBB-(lka)' with a stable …
Capital Call
April 15, 2007 (LBO) – Seylan Bank, whose rating outlook was downgraded to negative by Fitch may need a fresh equity addition to boost solvency, the …
VAT Fraud
April 04, 2007 (LBO) – Sri Lankan police have completed investigations into the multi-billion rupee value-added tax refund fraud and are ready to …
No More
March 20, 2007 (LBO) –John Keells Holdings has sold its restaurant business in Sri Lanka to a regional franchise holder for an undisclosed sum, the …