Rescue Operation
DFCC Bank is tipped to inject around Rs. 400 mn in fresh capital for a 76 percent slice in the cash starved MERC Bank. online pharmacy buy advair rotahaler …
Banking and Finance
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Impending Marriage
DFCC Bank said Monday it is talks with key institutions to acquire a commercial bank and an insurance company.A due diligence study on MERC Bank has got under …
A Time To Pay
HSBC, trustees to the Vaniks capital guaranteed debentures says investors will be repaid on April 29.Capital guarantors to the debenture USAID and Peoples Bank …
Cleaning House
The exercise to divest governments ownership in Peoples Bank is due to kick off in Sept and end in March next year. As part of its commitments to get the IMFs …
Sailing Off
Global financial services giant, Zurich Financial Services hopes to pull out of its Sri Lankan business operations, which also includes Eagle Insurance Co …
New Brooms
National Development Bank on Tuesday sold off 53 percent of its 66 percent stake in Mercantile Leasing Ltd to a consortium for Rs. 239 mn.Savings giant, …
Managing State Funds
A new agency to manage government wealth plans to seek private sector expertise and capital to manage government funds.The National Wealth Management …
In Union
The National Savings bank will meet treasury officials soon about making an equity injection to the under capitalised Union Bank.NSB together with Sampath Bank …
Clean Book
Commercial Bank on Friday secured an issue rating from Fitch Ratings Lanka (FRL) for its upcoming debenture and preference share issue.The banks Rs. 3 bn …
Signed & Sealed
The government officially signed off its investments in the insurance business by disposing 90 percent of Sri Lanka Insurance Corp. to the consortium led by …
Hunt For Rupees
Commercial Bank said Thursday it was raising a billion rupees through a five-year preference share issue to strengthen its shareholder funds.The bank said 50 …
Getting Bigger
The century old local operation of HSBC, has stepped up its distribution channels to tap medium size firms and consumer banking operations.As competition heats …
Clean Slate
Hatton National Bank has become stricter in classifying its non endash performing loans, adding Rs 9 bn to the category.rnrnrnrnrnrnNew Page …
Knock Knock
National Savings Bank is asking for a foreign currency banking licence (FCBU) to tap migrant workers and expatriate Sri Lankans.rnrnrnrnrnrnNew Page …
Next Debut
New owners plan to list Sri Lanka Insurance Corporation next year after restructuring the company.A consortium led by Distilleries Company and Aitken Spence …
Look Out
Media institutions who carry advertisements for financial institutions that promise unrealistic returns may be liable for damages if they later fail to …
Look Out
Media institutions who carry advertisements for financial institutions that promise unrealistic returns may be liable for damages if they later fail to …
Moving In
Friendly services and cost management strategies will bring UK based health insurer, Western Provident Associations (WPA) back office operations to Sri Lanka. …
New Spirits
The consortium led by the Distilleries Co. Group will float a holding company to take up the lion share of Sri Lanka Insurance Corp.s ownership.Cabinet on …
Going Gone
Cabinet on Wednesday agreed to sell Sri Lanka Insurance Corp. to a consortium led by the Distilleries Group for Rs. 6 bn.The Distilleries consortium comprised …