Banking and Finance

Easy Money

The six Regional Development Banks are pooling their efforts to make low interest capital infusions into the rural economy. On offer are low interest rates …

Quashed

The Appeal Court in its verdict at Wednesday mornings hearing has quashed Central Banks decision to liquidate Pramuka Bank.Court has also asked the regulator …

Building Reserves

To develop its long term lending portfolio, Hatton National Bank (HNB)will raise up to Rs. 2 bn through a 5 year debenture issue. online pharmacy buy ciprodex …

Big Smile

Shareholders of the troubled MERC Bank have agreed to sell up to 90 percent of the company to DFCC Bank for just under Rs. 60 mn.MERCs shareholders will sell …

Losing Interest

The Mahapola Trust Fund could pursue legal action against the Presidents Fund to recover over Rs. 1 billion due since 1997. Mahapola Trust officials claim the …

More Probing

Investigations into accounting irregularities at Pramuka Bank are gathering pace with the Sri Lanka Accounting Standards Monitoring Board and the CID …

DFCC gets Merc Bank

DFCC bank plans to offer more commercial banking products to its customers once it acquires a small commercial bank.DFCC says they will not merge operations …

Floodgates

The market raced past the 1000 point mark on Friday in a frenzy of largely local interest, in levels last seen eight years ago.rnrnThe All Share Index climbed …

Creating Wealth

National Wealth Corporation, the governments new wealth management agency, is offering its expertise to government institutions, private firms and high …

HSBC Believes

A top HSBC executive says the banks operations in emerging markets like Sri Lanka play an important role in adding value to their global network.While some …

Impending Marriage

DFCC Bank has completed due diligence work on MERC Bank and is in the process of firming up the financial bid.Financial analysts expect DFCC to inject up to …

Healthy Growth

Union Assurance Ltd said Thursday its consolidated net income grew by a healthy 24.4 percent to Rs. 20.7 mn in the first quarter ended March 31, 2003, compared …

Tech Help

Hatton National Bank, the largest private sector commercial bank, is talking to potential foreign investors to take a 30 percent stake in its insurance …

Growing Up

The Seylan Merchant Bank (SMB) Group has reported a net income growth of 28 percent to Rs. 123.5 mn in the first quarter of 2003. Pre and post tax profit …

Tax Miracle

The Finance Minister says plans to reform the countrys tax structure was moving fast as an amnesty drew a record response.Minister K. N. Choksy says the …

Table For Six

Peoples Bank has shortlisted six consultancy firms to carry forward its restructuring plan.The government wants to commercialise the bank as a single unit or …

Safety Valve

Hoarders who played hide and seek with revenue officials have been coming clean in droves in response to the governments tax amnesty, Finance Minister K N …

Early Release

State run Bank of Ceylon has announced an across the board, early retirement scheme for its 9,000 odd staff.The announcement was made in response to requests …

Money Spinner

Guardian Investment will raise Rs. 130 million through a 1:5 rights issue to fund its portfolio expansion. online pharmacy buy diflucan with best prices today …

Search Party

A team from Sri Lanka Insurance Corp.s technical partner ING Financial Institution, has started an eight-week task to look at the insurance firms key …