People’s Bank’s Rs. 20bn debenture issue oversubscribed
Jul 28, 2020 (LBO) – People’s Bank’s BASEL III, Tier 2 compliant, Unlisted, Rated, Unsecured, Subordinated, Redeemable Debenture issue was oversubscribed …
Banking and Finance
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Fitch affirms ratings of People’s Bank and Bank of Ceylon; Outlook Negative
Jul 27, 2020 (LBO) – Fitch Ratings has affirmed the National Long-Term Rating of People's Bank at 'AA+(lka)' with a Negative Outlook. Fitch Ratings has also …
South assures President historical win at General Election
Jul 24, 2020 (LBO) - People of Galle assured President Gotabaya Rajapaksa that the South is more than prepared to strengthen his administration to combat …
Tile and sanitaryware temporary import suspension has adverse impact on SL’s revenue
Jul 23, 2020 (LBO) - The Tile & Sanitaryware Importers Association (TSIA), Sri Lanka’s main body established to address the grievances of tile and …
New head appointed to head London Stock Exchange’s Shared Services Centre in Sri Lanka
Jul 22, 2020 (LBO) - London Stock Exchange Group (LSEG) has announced today that Arjuna Nanayakkara has been appointed as the Head of Shared Services Centre …
Compensation payments for ETI Finance & SFSP depositors to be commenced from Saturday
Jul 22, 2020 (LBO) – Compensation payments to the depositors of ETI Finance Limited (ETIFL) and Swarnamahal Financial Services PLC (SFSP) is to be commenced …
Pandemic sparks digitization drive among Asian firms: HSBC
Jul 22, 2020 (LBO) - COVID-19 has forced Asian corporates to confront their business resilience in an unprecedented way, underlining the urgent need for …
Moody’s extends review for downgrade on three Sri Lankan banks’ ratings
Jul 21, 2020 (LBO) – Moody's Investors Service has today extended its review for downgrade on Bank of Ceylon's (BOC), Hatton National Bank PLC's (HNB) and …
People’s Bank slashes loan interest rates up to 6-pct for SMEs & 9-pct for personal loans
Jul 21, 2020 (LBO) – People’s Bank has announced special concessionary interest rates across the board with almost all of them at single-digit levels. …
Sri Lankan banks’ ratings under pressure as operating conditions weaken: Fitch
Jul 20, 2020 (LBO) – Fitch Ratings revised down the operating environment (OE) score for Sri Lankan banks to 'b-' from 'b' in May 2020 after the sovereign …
LankaPropertyWeb records the highest traffic in June
Jul 14, 2020 (LBO) -LankaPropertyWeb.com, the leading real estate website in Sri Lanka with over 15,000 property listings, recorded its highest traffic figures …
Interview: Seylan Merchant Portal, simplified payment solution for SMEs in SL
Interview of Chaminda Senewiratne, head of Digital Banking, Seylan Bank PLC. Could you briefly explain what “Seylan merchant portal” is? “Seylan …
Central Bank suspends business of ETI Finance & Swarnamahal Financial Services
Jul 13, 2020 (LBO) – The Monetary Board (MB) of the Central Bank has decided to suspend the business activities of ETI Finance Ltd (ETIF) and Swarnamahal …
Senkadagala Finance receives USD 25mn facility from a Dutch development bank
Jul 10, 2020 (LBO) – Senkadagala Finance recently announced that it received a US $25 million 5 Year Green Investment Facility from Nederlandse …
Committee makes proposals to address irregularities in finance leasing businesses
Jul 08, 2020 (LBO) – The Committee appointed to examine irregularities and illegal activities of the leasing business, recommends short term and long term …
Sri Lanka’s Central Bank to develop Blockchain Technology based KYC Proof of Concept
Jul 07, 2020 (LBO) – Sri Lanka's Central Bank has entered into agreements to begin the process of developing a Blockchain Technology Based Shared …
ComBank ‘Arunella’ brings multiple COVID-19 relief initiatives to customers
As its commitments to providing relief to businesses affected by the COVID-19 pandemic continue to grow exponentially, the Commercial Bank of Ceylon has …
No change in interest rate paid to senior citizen’s deposits: Finance Ministry
Jul 07, 2020 (LBO) – Sri Lanka's Finance Ministry says that there has been no change in the interest rate paid on senior citizen's deposits and the interest …
Opinion: Import controls – out of control?
By Erandi de Silva As the COVID-19 virus forced much of the world into lockdown, the scale of interdependence and reliance on trade across nations was apparent …
H20 ONE Appoints Chaminda Lakmal as Chief Executive Officer
H20 ONE (Pvt) Ltd (H201) announced that they have appointed Chaminda Lakmal as Chief Executive Officer effective from 1st August 2020. Lakmal has over 12 years …