Fitch revises outlook on Abans to negative on Coronavirus stress; Affirms ‘BBB+(lka)’ rating
Apr 16, 2020 (LBO) - Fitch Ratings has revised the Outlook on Sri Lankan consumer-durable retailer Abans PLC's National Long-Term Rating to Negative from …
Banking and Finance
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Sri Lanka’s Central Bank reduces bank rate
Apr 16, 2020 (LBO) – The Monetary Board of the Central Bank at its meeting held yesterday, having observed the cumulative reduction of the key policy …
ADB triples COVID-19 response package to USD20Bn
Apr 14, 2020 (LBO) - The Asia Development Bank (ADB) has tripled the size of its response to the novel coronavirus disease (COVID-19) pandemic to US20 billion …
South Asia must ramp up COVID-19 action to protect people, revive economies
Apr 14, 2020 (LBO) - Amid the mounting human toll and global economic fallout triggered by the COVID-19 pandemic, South Asian governments must ramp up action …
Sri Lankan Banks’ risks to persist despite regulatory measures: Fitch Ratings
Apr 08, 2020 (LBO) – Fitch Ratings believes that the extraordinary regulatory measures announced by the central bank - focusing on the relaxation of capital …
COVID-19 clouds Sri Lanka’s growth prospects, Projected to fall to 2.2-pct in 2020: ADB
Apr 03, 2020 (LBO) - The Asian Development Bank’s (ADB) flagship annual economic publication, the Asian Development Outlook (ADO) 2020, forecasts …
Coronavirus intensifies pressure on Sri Lanka Finance Companies: Fitch Ratings
Apr 03, 2020 (LBO) – The coronavirus outbreak and the resultant prolonged business disruptions will put additional pressure on Sri Lankan finance and leasing …
ComBank deploys mobile units in curfew areas
Apr 01, 2020 (LBO) - The Commercial Bank of Ceylon of Ceylon has announced it is deploying its ‘Bank-on-Wheels’ Mobile ATM units in areas where curfews are …
Central Bank facilitates finance & leasing companies to support businesses
Mar 31, 2020 (LBO) – The Monetary Board of the Central Bank of Sri Lanka has decided to introduce a number of measures to provide flexibility to Licensed …
More concessions to public in the face of COVID – 19 outbreak: President
Mar 31, 2020 (LBO) - A host of more financial and material benefits have been granted to low income and vulnerable families and individuals in the face of …
CBSL implements extraordinary measures to facilitate banks to support businesses
Mar 30, 2020 (LBO) – The Monetary Board of Sri Lanka's Central Bank has decided to introduce several extraordinary regulatory measures to provide flexibility …
Central Bank, commercial banks, insurance services declared as essential services
Mar 26, 2020 (LBO) – President Gotabaya Rajapaksa has included the Central Bank of Sri Lanka, commercial banks, insurance services, and the Treasury in the …
Fitch revises Sri Lanka’s banking sector outlook to negative on Coronavirus
Mar 26, 2020 (LBO) – Fitch Ratings has revised Sri Lanka's banking sector outlook for 2020 to negative as the coronavirus pandemic poses increased risks to …
CBSL requests banks to open at least for 2 hours tomorrow
Mar 22, 2020 (LBO) – Sri Lanka's Central Bank has requested all Licensed Commercial Banks and Licensed Specialised Banks to keep their branches open at least …
CSE trading closed as both indices drop over 5-pct
Mar 20, 2020 (LBO) - Trading at the Colombo stock exchange closed at midday as the S&P SL20 index of more liquid stocks fell 11.90 percent or 262.42 points …
BBK Partnership, Jaffna’s accountants to the World
I first heard of the BBK Partnership Sri Lanka in 2015. I first spoke with its co-founder Anandan Arnold in 2018, and finally met him in March 2020 at a …
CSE to remain closed
Mar 19, 2020 (LBO) - The Colombo stock market will remain closed for the fourth consecutive day Thursday although an announcement was made that the market will …
Colombo Chamber appeals to curb spread of COVID-19 in banking network
Mar 18, 2020 (LBO) – Colombo Chamber of Commerce appeals to curb the spread of COVID-19 in the banking network. The chamber suggests the following steps to …
Measures adopted by CB during public holiday period
Mar 18, 2020 (LBO) - The Central Bank of Sri Lanka (CBSL) wishes to inform that the following measures have been adopted by CBSL during the public holiday …
President orders banks to suspend loan recoveries from businesses for 6 months
Mar 17, 2020 (LBO) – Sri Lanka's President Gotabaya Rajapaksa orders banks and financial institutions to suspend the recovery of loans to businesses for a …