Turning Around
January 29, (LBO) – State Mortgage and Investment Bank has trimmed its non-performing loans sharply, the rating agency Fitch said, affirming the banks' A …
Banking and Finance
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Raising Cash
January 29, (LBO) - Seylan Bank is raising cash to boost its capital through a debenture issue, the bank said. The Ceylinco group, owns 19 percent of its …
Positive Move
January 26, (LBO) – Fitch Ratings has upgraded National Development Bank's credit outlook to positive from stable, but left the larger Commercial Bank's …
Fund Change
Jan 25, 2007 (LBO) – Ceylon Theatres Group which has bagged 70 percent of Commercial Fund Management says it is looking to increase the group's interests …
Regional Aspirations
January 24 (LBO) – The proposed merger of Sri Lanka's National Development Bank and Commercial Bank will give the merged entity more clout to spread its …
Big Merger
January 24 (LBO) –Commercial Bank of Ceylon and National Development Bank has entered into merger talks, the banks said Wednesday. "In the event the …
High Alert
January 22, 2007 (LBO) – Sri Lanka plans probe deeper into the financial activities of non-governmental organizations, by beefing up its financial …
Tight Control
Sri Lanka limited Friday the ownership of banks to prevent individuals or groups making hostile takeover bids that could destabilise the country's small …
Unit Gains
Jan 17, 2007 (LBO) – Investors in mutual funds with an equity component have managed to beat raging inflation last year, with Sri Lanka's youngest fund, …
Connecting Points
Jan 16, 2007 (LBO) – Japan on Tuesday gave Sri Lanka 30 million rupees to design a new bridge connecting Mannar to the mainland, the finance ministry …
Pandora’s Box
January 13, 2007 (LBO) – Sri Lanka's proposal to retain 50 percent of re-insurance business in a government-backed entity, may deteriorate the quality of …
Tight and Loose
January 12, 2007 (LBO) – Sri Lanka's central bank has allowed finance companies to form subsidiaries, raised single borrower limits, but tightened …
Morning After
January 10, 2007 (LBO) – Sri Lanka’s state-run Bank of Ceylon plans to sell off shares owned in NDB and DFCC Bank this year, to top up a gap in its …
Instant Cash
January 09, 2007 (LBO) – Privately run Ceylinco Insurance, is offering on the spot cash facilities to settle customer claims, in an attempt to retain its …
Few Tweaks
January 8, 2007 (LBO) – Sri Lanka's Central Bank plans to revise the way commercial banks' compute the single borrower limit, as part of its drive to …
New Business
January 05, 2007 (LBO) – The long-awaited restarting of Pramuka Bank as the Sri Lanka Savings Bank will get underway soon, with the new entity due to …
Wide Berth
January 2, 2007 (LBO) – Sri Lanka's Central Bank has lifted the minimum capital requirements of money changers by fivefold to 600,000 dollars with …
Long Arm
January 01, 2007 (LBO) – Sri Lanka's Janashakthi Group is set to take control of privately held financial service group First Capital, officials said …
More Aid
December 14 (LBO) – Sri Lanka and the Asian Development Bank tied up a loan deal worth 210 million dollars on Thursday, to upgrade national highways and …
Stable Rating
December 14 (LBO) – Rating agency Fitch gave pawn brokering business Edirisinghe Trust Investments a 'B+(lka)' long term rating, but said the company was …