Standing Tall
August 23, 2006 (LBO) – Overseas Realty Ceylon said Wednesday they would raise 1.25 billion rupees through a rights issue to buy up of a 60 percent stake …
Banking and Finance
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Big Step
August 22, 2006 (LBO) – Commercial Bank of Ceylon Tuesday posted a 69 percent rise in group profits for the six months to June boosted by growth in net …
Breaking Barriers
August 22, 2006 (LBO) – Sri Lanka's long-suffering fund management industry is working with market regulators to promote closed-end funds and give an …
Ticking Away
August 21, 2006 (LBO) -- Depositors who have money and other assets in Sri Lanka's bank have till the end of the month to reactivate their accounts, and …
Finance Rating
August 17 (LBO) - Fitch Ratings has given the flagship finance company of Sri Lanka’s Ceylinco Group, a BBB (lka) rating with a stable outlook, the …
Bankers’ Cry
Sri Lanka’s banks are asking authorities to revive stalled plans to strengthen the Credit Information Bureau (CRIB), while the sector is also facing the …
Bank Tie
The Sri Lanka government agency that overseas state-owned enterprises is drawing up plans to merge a state-owned Sri Lankan housing bank with a savings bank …
Top Speed
Aug10 (LBO) – Associated Motorways Limited (AMW) posted an 18 percent jump in net profits to 143.8 million rupees in the first quarter 2007, led by …
Good Money
August 7, 2006 (LBO) – Sri Lanka has picked up 12 million rupees to date from taxing foreign movies, dramas and sitcoms aired on local television …
Corporate Chase
August 3, 2006 (LBO) -- Sri Lanka's Bank of Ceylon, a state-owned bank which is heavily involved in financing the government, is targeting corporate clients …
Hornet’s Nest
August 2, 2006 (LBO) – Sri Lanka's Central Bank Wednesday said balances of dormant accounts taken over by can be claimed back by their rightful owners. …
Sharp Rise
July 26, 2006 (LBO) – Hatton National Bank, the island's second biggest privately owned lender by assets, Wednesday posted a net profit of 506.46 million …
Finance Rating
July 24 (LBO) – Lanka Ratings Agency (LRA) has given a BBB3 rating to the deposit-taking finance company LB Finance. LRA said it had a favourable view of …
Lost & Found
COLOMBO, July 12, 2006 (AFP) - Sri Lanka announced Wednesday it would seize an estimated 30 million dollars in dormant bank accounts as part of a drive to …
Audit Rider
July 7, 2006 (LBO) – A parliamentary body which oversees public finances, plans to bring a law to beef up the office of Sri Lanka’s Auditor …
Mortgage Crisis
July 6, 2006 (LBO) - A top Sri Lankan housing bank has asked the government to exempt housing mortgage lenders from upcoming law aimed at helping smaller …
Big Slap
July 3, 2006 (LBO) – Sri Lanka's Credit Information Bureau or CRIB has warned all banks to come clean and name large scale defaulters or risk paying a …
Money Talks
July 2, 2006 (LBO) - Sri Lanka has several unused credit lines awaiting disbursement, while small and medium industrialists complain that they cannot get …
Default Data
July 2, 2006 (LBO) - A senior central banker has strongly criticized the practice of banks of not reporting influential defaulting clients to the Credit …
Default Hit
June 29, 2006 (LBO) - Small Sri Lankan banks are facing the threat of weaker credit ratings, following a government move to lift a law that allows banks to …