Banking and Finance

Credit Forecast

December 13 (LBO) – Slow global economic growth, lower reserve build up and politics will be in the spotlight for sovereign credit assessments in …

Ceylon Exposure

November 12, (LBO) - The Bank of Ceylon has given 43.7 percent of its loans to the government and state-owned enterprises, and its exposure to government would …

PBJ Resignation

December 11, 2006 (LBO) – Sri Lanka's powerful treasury secretary P B Jayasundara, has sent in his resignation, the state-run Daily News reported Monday. …

Buying Time

December 8, 2006 (LBO) – Sri Lanka Friday gave banks extra time till 2009 to top up their capital by five times, the Central Bank said, as some banks …

Funny Money

December 08, 2006 (LBO) – Sri Lanka's main opposition party has said the government should investigate suspected money laundering transactions in the …

Cash Pile

December 07, 2006 (LBO) – Sri Lanka's NDB Bank Thursday teamed up with global money transfer giant Western Union, to tap the lucrative foreign …

Shoe Bonds

Dec 06 (LBO) – A holding company that controls Sri Lanka's largest footwear maker DSI, is to issue a 300 million rupee debenture which has been rated …

Price Signal

December, 06 (LBO) – Sri Lanka's treasury bill rates moved up by an average of 19 basis points at this Wednesday's auction on the back of a similar hike …

Audit Block

Nov 27, 2006 (LBO) – Sri Lanka's audit examiners will stop visiting government offices to carry out audit work following on a pay dispute, putting the …

Rated Footwear

Nov 24, 2006 (LBO) – An old-established family footwear company from the deep south of Sri Lanka, has published its credit rating, before entering the …

Home Bias

Nov 22, 2006 (LBO) – Government attempts to retain more re-insurance at home may reduce the quality of the cover available from the industry and …

Rupee Dips

November, 20 (LBO) - The Sri Lanka rupee dipped to a new low of 109.40 against the dollar early Monday, while shares also closed weaker. The rupee strengthened …

Holy Banking

Nov 20, 2006 (LBO) – The Ceylinco group tied up Monday with Malaysia’s Centre for Islamic Finance to set up a faculty for Islamic financial studies …

Long Tenure

Nov 20 (LBO) – Seylan Merchant Bank said Monday it would float ten year listed debentures to raise long term funds to match its lending portfolio. The 95 …

Safety Net

November 17, 2006 (LBO) – Sri Lanka said Thursday they were exploring the possibility of setting up a 40 million dollar government guaranteed fund with …

Last Stage

Nov 16, 2006 (LBO) - Sri Lanka's Co-operative Wholesale Establishment (CWE) is to sell a 226 perch land which National Savings Bank has already paid in 500 …

Steady Pace

November 14, 2006 (LBO) – Hatton National Bank Ltd, Sri Lanka's second biggest privately owned lender by assets, Tuesday said group net profits rose to …

Banking Online

Nov 14, 2006 (LBO) – Bank of Ceylon (BoC), Sri Lanka's biggest lender in terms of assets, plans to finish linking up all its branches within the next few …

Sliding

November 14, 2006 (LBO) - High taxes have hit profits of DFCC on the September quarter but six months profits are still higher than the previous year.buy …

Robust Growth

November 10, 2006 (LBO) – Commercial Bank of Ceylon, one of Sri Lanka’s most profitable commercial banks, Friday posted a 40 percent growth in net …