Banking and Finance

No Votes

Seylan Bank plans to raise about a billion rupees in this year through a combination of equity and debt to boost its capital adequacy.The bank said Monday it …

Light Travel

Plans to ease Colombos mega traffic jams are finally getting off the ground with the Urban Development Authority scouting for investors to set up a mass rapid …

Surging Ahead

Bank of Ceylon said Monday its profits crossed the billion rupee mark in 2002, despite a slight drop in its turnover.rnrnrnrnrnrnrnNew Page 1rnrnrnrnrn …

Spring Cleaning

The Employees Trust Fund is talking to potential buyers to dispose its 20 percent stake in NAMAL, a leading unit trust management company.NAMAL or National …

Clean Up

Hatton National Bank said Friday its group net profits rose to 486,976 mn despite a hefty 25 percent provisioning for its bad and doubtful debts.Sri Lankas …

Billionaires Club

State-run Peoples Bank hopes to transfer about Rs. 9 bn of its hard-core large non-performing loans to the upcoming asset management company. online pharmacy …

Roving Eye

The Employees Trust Fund is knocking on regulators doors to expand its investment reach, as the local capital markets offer limited scope.The Rs. 40 bn state …

Bigger Footprints

Sri Lankas largest private insurer, Ceylinco Insurance Co. is looking overseas with plans to add a few branches to its existing operations.Talks are under way …

Testing Numbers

The Asian Development Bank has selected Sri Lanka as one of the test beds, for a survey on economic data gathering based on purchasing power equivalence.The …

Bond Scramble

Three and four-year bond yields plunged around 30 basis points today as dealers scrambled to grab the bonds.The weighted average yield of the 3 year bond fell …

One to Nothing

Interest for a stake in the lotteries business has dwindled to one bidder, from nearly 40 contenders vying for the gamble at the start of the process in …

Healthy Profits

State owned Sri Lanka Insurance Corporation reported healthy profits despite rising reinsurance premiums.The insurance giant reported a provisional Rs. 753 mn …

Looking Pretty

Savings giant NSB got a top SL AAA credit rating from Fitch Ratings Lanka. The rating denotes the highest credit quality and maximum safety. online pharmacy …

Triple Deck

National Savings Bank got top billing by becoming the first local bank to secure a SL AAA (Triple A) national rating from Fitch Ratings Lanka Ltd for its …

Mark Up

Sate insurance giant Sri Lanka Insurance Corp. (SLIC) posted a provisional Rs. 753 mn profit for 2002, despite rising reinsurance premiums.Net earnings in 2001 …

Catch Up

The Asian Development Bank (ADB) is giving US$ 150,000 by way of technical assistance to carry out a survey on Sri Lankas business climate.ADB on Wednesday …

Green Talk

The International Finance Corp (IFC) has offered a US$ 10 mn term loan facility to strengthen Commercial Banks lending portfolio.ldblquote We are finalising …

Fresh Notes

Capitalising on recent budget initiatives, Nextventures Ltd, is seeking Rs. 300 mn through a private placement to start a new fund.Nextventures Fund One (Pvt) …

Safe Hands

Commercial Bank of Ceylon has floated a share ownership trust called Jaycey Trust Services to acquire and hold shares on behalf of its employees.In a statement …

Citibank First

Citibank became the only foreign bank to get a credit rating on the local scale when they made public their AAA rating. The bank says the rating obtained for …