Banking and Finance

Bouncing Banks

Sri Lankas top banks emerged stronger in a year of exceptional performance in 2003.Helped by what the Central Bank calls a lquote heroic attempt at fiscal …

Sharing Wealth

Hatton National Bank is coming out with an Employee Share Ownership Plan to reward staff and give them a sense of partnership.HNBs Chairman/CEO Rienzie T …

Travel Allowance

Travel exchange specialist Travelex will scale up operation in Sri Lanka to tap into the potential of the peace fueled growth in tourism.Sri Lanka is part of …

Maximum Credit

Standard Chartered will leverage Commercial Banks nationwide branch network to sustain growth in its credit card business. rnrnThe deal will allow Standard …

Socially Accountable

The Institute of Chartered Accountants of Sri Lanka (ICASL) - the countrys auditing standard setting body - is trying to lift the countrys accounting standards …

Overseas Banking

Sri Lanka Export Credit Insurance Corporation (SLECIC) is in talks with a Russian bank, to promote financing of Russian importers of local goods.The company …

Changing Heads

Hatton National Bank has appointed Rienzie Wijetilleke as new Chairman of the Bank. Wijetilleke will continue as Managing Director. online pharmacy buy …

Guessing Game

Sri Lanka has made it to the list of developing countries selected for concessional funds under the US governments Millennium Challenge Corporation (MCC).The …

Quick Jump

Union Assurance Ltd said Thursday its net profits have nearly doubled on renewed business sentiment in the overall insurance market.Its consolidate net profits …

Not Fair

Sampath Bank chief has rapped authorities for continuing to look at financial instruments as a convenient source of raising revenue.The banking sector …

Good Recovery

Recoveries and defaulters turning a new leaf in good economic conditions drove Bank of Ceylons profits up in 2003, though a gap in its pension fund is dragging …

Fund Raising

Distilleries recent inter-company share transfers are to retire its over Rs. 3 billion debt acquired when buying Sri Lanka Insurance Corp. online pharmacy buy …

Be Generous

Commercial Bank of Ceylon is in talks with its Unions to ask them to contribute part of their earnings towards a bank pension schemeInitial discussions made …

Good Show

The Seylan Merchant Bank (SMB) Groups earnings rose 344 percent to Rs. 50.29 mn over revenues of Rs. 565 mn for the fiscal year ending Dec. online pharmacy buy …

Chartered Standards

Institute of Charted Accountants is working on two new accounting standards to improve disclosure and measurement of complex financial instruments, at the …

Precautious Bank

Peoples Bank provided a massive Rs. 1.7 bn for its property portfolio to comply in advance with a new Central Bank ruling. buy antabuse online …

Zooming Up

Eagle Insurance Co.s Risk Management Division has secured international recognition for processes developed to execute products and services.Risk management is …

High Note

State-run Bank of Ceylon ended 2003 on a high note of Rs. 1.642 bn in net profits, even as revenues fell 7. online pharmacy buy ciprodex with best prices today …

Lucky Strike

Technically insolvent Peoples Bank, kept its place in the Billionaires Club for the second year running, after providing a hefty Rs. 2.288 bn for bad debts in …

Interim Relief

The fresh decision reversed Central Banks earlier ruling to limit NDBs holding in the commercial banking entity to 25 per cent and is an interim measure until …