Tripling Over
Hatton National Bank Ltd said Tuesday its full year group profits nearly tripled as it notched gains from its bond portfolio, despite hefty provisioning. Group …
Banking and Finance
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Jumping High
Ceylinco Life has ended fiscal year 2003 achieving its declared goal of crossing the three billion rupee mark in premium income.In results released this week, …
Life Cycle
The Treasury last issued the letter on March 13 2003, with the hope of finding fresh investors and to allow the bank to continue its normal banking …
Taking Bets
Working towards meeting a mid year target to launch Sri Lankas second online lottery, the Aitken Spence endash Getch Corp., partnership will invest Rs. 1.2 bn …
Small Change
The state is looking at absorbing up to about 25 percent or as much as half the cost of laying rain guards for rubber trees on smallholder estates this year. …
Annual Chat
South East Asian Central Bankers will meet in Sri Lanka this week for its annual sessions and discuss matters of mutual importance.The Sri Lankan Central Bank …
Steady Ship
DFCC Bank saw a 16 percent rise in net profits for the nine months ending Dec. 2003, largely aided by falling interest rates and revenues from its associated …
Wheels Within Wheels
Leasing companies and private bus operators met on Wednesday under the direction of the National Treasury to sort out an administrative mess up of the newly …
Quick Cash
A sophisticated yet low cost real time on-line money transfer facility has been launched by Commercial Bank of Ceylon, enabling Sri Lankan expatriates to make …
Strings Attached
The United States will float its new foreign aid agency - Millennium Challenge Corporation, in May this year, offering conditional aid for 60 of the poorest …
Amber Light
Sri Lankas long-awaited sovereign rating has fallen victim to the ongoing political drama, with authorities opting to put the brakes on the issue once …
One Voice
Plans to set up a common financial watchdog to regulate all deposit taking institutions, moved another step with international donors coming forward to fund …
Quick Fix
Succumbing to heavy lobbying from the leasing industry, the Finance Minister on Tuesday allowed certain bus owners to be exempted from paying 15 percent value …
Moral Support
Finance Minister K N Choksy has pledged his support to the current efforts to restructure Pramuka Bank. The minister sent a handwritten letter to a depositors …
SBI Credit Cards
State Bank of India plans to aggressively expand local operations.The bank is planning a branch in Kandy as the first step in expansion plans to get a wider …
Hats Off
SL A+ long term rating denotes a low expectation of credit risk. The capacity for timely payment of financial commitments is considered strong. rnrnldblquote …
Public Watchdog
The World Bank says it is critical Sri Lanka enacts the new Public Finance Bill that is in the works, to increase public scrutiny over the state purse.In a …
Valet Service
Janashakthi Insurance is counting on the motor market, the fastest growing insurance sector, to expand its share of the local insurance market.Motor insurance …
Ground Work
The consortium led by Asia Capital will start due diligence work on Thursday, to revive the trouble Pramuka Savings & Development Bank.The start date follows …
Rural Reserve
The ADB on Wednesday sanctioned a US$ 70 million loan package to kick start the Sri Lanka n rural finance sector.The Program aims to revive the rural economy …