“GLX Digital Evolver” powers transformation of tourism through digital evolution
Good Life X (GLX) in collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) Sri Lanka - via ‘GLX Digital Evolver’ pursue the …
Banking and Finance
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Sampath Bank Introduces Sri Lanka’s First Touchless Cash Withdrawals Across Its ATM Network
Sampath Bank announced the introduction of Touchless Cash Withdrawals at Automated Teller Machines (ATMs) for the first time in Sri Lanka, and possibly the …
![ICRA reaffirms issuer rating of Union Bank at [SL] BBB with stable outlook](https://www.lankabusinessonline.com/wp-content/uploads/2015/09/ICRA-lanka-rating.jpg "ICRA reaffirms issuer rating of Union Bank at [SL] BBB with stable outlook")
ICRA reaffirms issuer rating of Union Bank at [SL] BBB with stable outlook
Rating action ICRA Lanka Limited has reaffirmed the Issuer Rating of Union Bank of Colombo PLC (“UBC”/ “the Bank”) at [SL]BBB (pronounced as S L Triple …
HNB yet again delivers sustainable business performance
Hatton National Bank (HNB PLC) continued to demonstrate resilience amidst volatile conditions, posting a Profit Before Tax (PBT) of Rs 10.9 Bn and a Profit …
Sampath Bank records PAT of Rs.7Bn for first half of 2021
Financial results of Sampath Bank for the 1st Half of 2021 Sampath Bank posted a profit after tax (PAT) of Rs 7 Bn for the first half of 2021, against Rs 3.9 …
Sri Lanka Banks’ National Ratings Constrained by Sovereign Rating: Fitch
The National Ratings on Sri Lankan banks remain constrained by the sovereign credit profile (CCC), Fitch Ratings says. The highest National Rating for domestic …
Nations Trust Bank Delivers Strong Performance While Continuing To Support Nation’s Economic Revival
Nations Trust Bank continued to demonstrate its resilience in performance during the year. The loan portfolio increased by LKR 26 billion recording a 12% …
ComBank notches 3rd Rs 1 Trillion mark in Balance Sheet in dynamic Q2
A strong second quarter, during which its loan book crossed the milestone of Rs 1 trillion, another first by a local private bank, has generated noteworthy …
Fitch assigns Asia Securities first-time rating of ‘BBB-(lka)’; Outlook stable
Fitch Ratings has assigned Asia Securities (Pvt) Ltd (ASPL) a National Long-Term Rating of 'BBB-(lka)'. The Outlook is Stable. ASPL is a prominent equity …
Central Bank streamlines complaint handling procedure; introduces hotline
The Financial Consumer Relations Department (FCRD) established under the provisions of Section 33 of the Monetary Law Act No. 58 of 1949, as amended, continues …
UK’s CDC Group commits USD50Mn to ComBank to bolster SME lending and climate projects
Facility to target funding directly at underserved SMEs, boost jobs and promote economic and social inclusion across Sri Lanka Supports development of clean …
Fitch Downgrades AMW Capital Leasing And Finance to ‘A(lka)’; Outlook Negative
Fitch Ratings has downgraded AMW Capital Leasing And Finance PLC's (AMWCL) National Long-Term Rating to 'A(lka)', from 'AA-(lka)'. The Outlook is Negative. KEY …
ICRA economic outlook for 2H 2021: Economy relapses amid the third wave
Key Takeaways Expedited vaccine rollouts in many major economies have enhanced global growth outlook for 2H 2021. Sri Lanka which was earlier expected to be a …
Sampath Bank Introduces Helpline for Business Startup Advisory Services
Sampath Bank announced the launch of a helpline for Business Start-up Advisory Services under its flagship entrepreneurship development programme, ‘Sampath …
NDB posts solid performance in H1 2021 amidst the pandemic
28 July 2021, Colombo, Sri Lanka Pre-tax profits crosses LKR 6 Bn (up by 21%), Post-tax profits of LKR 3.9 Bn (up by 32%)Robust growth in fund and fee income …
Fitch affirms Sri Lanka’s People’s Bank at AA -(lka); Outlook Stable
Fitch Ratings has affirmed the National Long-Term Rating of People's Bank (Sri Lanka) (PB) at 'AA-(lka)'. The Outlook is Stable. KEY RATING DRIVERS PB's …
Fitch Affirms Bank of Ceylon at CCC and AA (lka)/Stable
Fitch Ratings has affirmed Bank of Ceylon's (BOC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'CCC'. The ratings do not carry an …
Support Measures Ease Pressure on Sri Lankan Banks’ Credit Profiles: Fitch Ratings
Sri Lankan banks' performance in 2020 and 1Q21 exceeded Fitch Ratings’ initial expectations, thanks to stimulus and regulatory relief measures. However, we …
Large Sri Lankan Banks Most Exposed to Sovereign Risk: Fitch Ratings
Sri Lanka's largest banks are the most susceptible to heightened sovereign risk due to their higher exposure to foreign-currency denominated government …