Banking and Finance

First Steps

Pakistani based Union Bank Ltd plans to pump in over Rs. 250 mn to its newly acquired Sri Lankan operation.The bank made its maiden foray into the …

Low Key

State run Bank of Ceylon is talking to a potential investor to sell off a bulk of its Pakistani branch operations.Sources said Dawood Bank Ltd has agreed to …

Done Deal

The Peoples Bank board has agreed to sell its 62 percent stake in its venture capital arm to the Janashakthi Group for Rs. 165 mn.The deal to formalise Peoples …

Counting Pennies

Private sector credit demand has been on an upward trajectory this year, with the Central Bank expecting year-end growth to hit 16 percent.rnrnrnrnrnrnrnNew …

Big Appetite

Peoples Leasing Company (PLC) is looking to strengthen its top position in the leasing market, with an ambitious plan to penetrate deeper into the growing …

Weight Watching

Peoples Bank is talking to investors to sell off two of its subsidiaries, as part of its ongoing restructuring programme.Sri Lankas largest state-bank has …

Who Is The Winner?

A consortium of state institutions led by the Bank of Ceylon (BoC) has expressed interest in taking over undercapitalised Peoples Bank. The National Savings …

EPF, ETF Merger

The two state pension funds, the EPF and the ETF are going to be merged next year in a bid to draw on synergies between the two.A consultant is expected to be …

Big Brothers Help

MERC Bank is hoping to expand its loan book by leveraging on DFCC Banks balance sheet.DFCC Bank, which acquired a 90 percent slice in the trouble MERC Bank for …

On Target

NDB Banks post tax profits surged 46 percent for the first six months of 2003 and said it was on target to merge with National Development Bank (NDB) by the …

Making It Work

rnrnrnrnrnrnNew Page 1rnrnrnrnrnSources said Bank of Ceylon,rnNSB, Commercial Bank and John Keells Holdings are keen to invest.rnThe government is …

Index Link

The treasury of Sri Lankas first development bank snapped up bulk of a two index linked commercial paper issues this week, betting that the stock market would …

Safe Bet

Nations Trust Bank has secured a SL A- national rating from Fitch Ratings Lanka for its long-term unsecured senior debt.SL A- long-term rating denotes a low …

Revenue Options

The Accounting Watchdog plans to charge a cess from firms it audits accounts, beginning next year.rnrnrnrnrnrnNew Page 1rnrnrnrnrnPlansrnare also underway to …

More Exploring

Central Bank withdrew its appeal in the Supreme Court, against the order given by the Court of Appeal on the Pramuka case on Monday.The Appeal court issued a …

Quick Drip

Cutting out the hassle in claiming medical bills, Eagle Insurance on Monday launched a cashless hospital bill payment system. The cashless payment system, a …

Close Scrutiny

The Central Bank has commissioned audit consultants E&Y to do a valuation on six rural development banks up for privatisation.E&Ys mandate includes coming up …

Backdoor Withdrawal

Members of the Employees Provident Fund are using the State Mortgage Investment Bank as a conduit for premature withdrawal of their EPF balances.SMIB has the …

Good Start

DFCC Bank said Wednesday its net profits grew by 14 percent to Rs. 305 mn during the first quarter of this year. online pharmacy buy strattera with best prices …

Picking Up

Standard Chartered Bank said Wednesday that credit demand had picked up marginally, despite an upturn in economic growth this year.The bank said total loans …