Banking and Finance

Moving Target

March 23, 2007 (LBO) – Singer Sri Lanka's finance company arm has seen rapid growth in 2006 with the firm moving heavily into vehicle financing Fitch …

Tough Year

March 22, 2007 (LBO) – State-owned National Savings Bank has seen a fall in profits in 2006 and slow deposit growth, through revenues climbed with rising …

Kandy Finance

March 21 (LBO) – Kandy based Sinhaputhra Finance Limited (SFL) has earned a BB (lka) rating with a stable outlook, Fitch Ratings Lanka said Wednesday. …

Leasing Pioneer

March, 21 (LBO) – Lanka Orix Leasing Company (LOLC) has seen high loan growth with new funding but margins are slimming due to competition, Fitch Ratings …

Indo Finance

March 20, 2007 (LBO) – Chennai based Indian Bank is looking to expand operations in Sri Lanka after boosting its capital at its branch this year, …

Rating Rap

March 19, (LBO) – A lease-backed securities issue of Senkadagala Finance had its A (lka) national rating affirmed Monday, but Fitch Ratings said minimum …

Phone Cover

March 18, 2007 (LBO) – From fashion accessory to personal organizer to entertainment provider, mobile phones have become every persons must-have, turning …

Second Life

March 14 (LBO) – After several false starts, the failed Pramuka Bank would start operations 0n June 01 as the Sri Lanka Savings Bank, the finance …

Plastic Money

March 13 (LBO) – Visa International will give Sri Lanka's 1.5 million plastic card market a boost, by issuing mini debit cards with Sampath Bank, …

Claims Toll

March 12, 2007 (LBO) – Union Assurance net profits fell 41 percent in 2006, with high claims bill taking its toll, but gross premiums grew by 28 percent, …

Little Orix

March 09, 2007 (LBO) – Lanka Orix Finance Company (LOFIN), a subsidiary of Lanka Orix Leasing has shown a 105 percent growth in loans in 2006 Fitch …

Vanik Money

March 06, 2007 (LBO) – The merchant bank Vanik Incorporation said it had given 51 percent control of its money broking unit to employees, in a bid to …

Leg Up

March 06 (LBO) –International Finance Corporation (IFC) is looking for opportunities to help top Sri Lankan firms venture abroad, and is aiming to more …

People Power

March, 06 (LBO) – People's Bank, a state bank has reported consolidated after tax profits of 3,997 billion rupees for, up 28 percent over the previous …

Joint Deal

March 05 (LBO) – DFCC Bank and Hatton National Bank would set up a joint venture investment bank to takeover and run their corporate finance and capital …

Skills Boost

March 05, 2007 (LBO) – Sri Lanka's financial regulators are coming together to boost skills of market professionals in a bid to deepen securities and …

Sharia Mortgage

March 03 (LBO) - HDFC bank is planning to offer housing mortgages based on Islamic finance principles, an official said. online pharmacy buy diflucan with best …

Call Up

March, 01 (LBO) – DFCC Bank is making a cash call of three billion rupees from shareholders to buy into an upcoming capital raising of Commercial Bank of …

Sampath Exits

March 01 (LBO) – Sampath Bank has sold its 15 percent stake in Asian Alliance Insurance one of Sri Lanka's newer insurance firms, an official said. The …

Head Hunted

March 01 (LBO) – Former head of Fitch Ratings Lanka, and head of Amba Research in Sri Lanka Ravi Abeysuriya, joined as commission member of the …