Sri Lanka reserves at USD 8.3bn at end Jul 2019
Sep 26, 2019 (LBO) - Sri Lanka's gross official reserves stood at US 8.3 billion dollars by end July 2019, equivalent to 4.9 months of imports, the Central …
Banking and Finance
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Sri Lanka trade deficit widens in July; export earnings decline
Sep 26, 2019 (LBO) - The trade deficit widened in July 2019 as exports fell more than the decline in imports, new data shows. Export earnings recorded a …
Central Bank withdraws order on maximum interest rates on deposits
Sep 25, 2019 (LBO) – The Monetary Board of the Central Bank has decided to withdraw the Monetary Law Act Order No. 01 of 2019 issued on 26 April 2019 …
Central Bank orders banks to reduce loan interest rates by 200 bps by mid-October
Sep 24, 2019 (LBO) – Monetary Board of the Central Bank has decided to order the Licensed Banks to reduce interest rates applicable on all rupee-denominated …
Enterprise Sri Lanka introduces mobile service islandwide
Sep 20, 2019 (LBO) - The Finance Ministry has made arrangments to reach the people and conduct Enterprise Sri Lanka mobile service island-wide in order to …
CBSL permits Sinhaputhra Finance to implement proposed capital augmentation plan
Sep 19, 2019 (LBO) – Monetary Board of the Central Bank of Sri Lanka has decided to provide Sinhaputhra Finance with an opportunity to implement the proposed …
Central Bank cancels license issued to TKS Finance Limited
Sep 19, 2019 (LBO) – Sri Lanka's Monetary Board of the Central Bank has decided to cancel the licence issued to TKS Finance Limited (TKSF) to carry on …
Sri Lanka GDP growth 1.6-pct in Q2
Sep 19, 2019 (LBO) - Sri Lanka's Gross Domestic Product (GDP) growth rate for the second quarter of 2019 has been estimated as 1.6 percent, a new report said. …
PM’s says economy stabilizing: looking at leapfrog growth trajectory
Sep 18, 2019 (LBO) - Sri Lanka's Prime Minister Ranil Wickremesinghe says the government's plans to put the island on a leapfrog trajectory to growth so that …
The Finance Co. still looking for potential investor; CBSL extends restrictions
Sep 18, 2019 (LBO) – Sri Lanka’s troubled The Finance Company is to call Expressions of Interest (EOIs) from potential investors and to request such …
Sri Lanka’s Economic Summit 2019 Opens Today
Sep 17, 2019 (LBO) - The Sri Lanka Economic Summit (SLES) 2019 themed on Re-calibrating Sri Lanka’s Economic Trajectory Towards 2025, to guide Sri Lanka’s …
Fitch affirms Hatton National Bank at ‘AA-(lka)’; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based Hatton National Bank PLC's (HNB) National Long-Term Rating at 'AA-(lka)'. The Outlook is Stable. At the same time, …
Sri Lanka Tourism launches one-day license renewal service for service providers
Sep 05, 2019 (LBO) - As an initiative to facilitate the renewal of licenses much faster which is an annual requirement and to deliver enhanced satisfaction to …
Union Bank explores strategic options for subsidiary, UB Finance
Sep 03, 2019 (LBO) - Sri Lanka’s Union Bank said that it was in discussions with identified investor/s to explore strategic options for its subsidiary, UB …
Fitch affirms rating of some Sri Lanka banks
Sep 03, 2019 (LBO) - Fitch Ratings has affirmed the long-term issuer default ratings (IDR) of the following Sri Lanka-based banks: National Savings Bank (NSB) …
Subdued economic growth drives negative outlook for Sri Lanka banking system: Moody’s
Aug 30, 2019 (LBO) – Moody’s Investors Service says in a new report that its negative outlook for Sri Lanka’s banking system is driven by weak operating …
Central Bank to announce timeline for banks to reduce market lending rates
Aug 23, 2019 (LBO) – Sri Lanka's Central Bank with the expectation of reducing all market lending rates in line with the reduction already observed in …
Fitch rates Hatton National Bank’s Basel III sub-debt final A+(lka)
Aug 22, 2019 (LBO) – Fitch Ratings Lanka has assigned Hatton National Bank's proposed Sri Lanka rupee-denominated Basel III-compliant subordinated debentures …
ComBank improves Q2 earnings despite challenges
The Commercial Bank Group has reported operating profit before impairment charges and taxes of Rs 19.476 billion for the first half of 2019, a 9.45% increase …
Arpico Finance partners with mCash to offer digitalized payments
The revolutionary mobile money platform, mCash, which is transforming the country’s electronic payments landscape, has partnered with Arpico Finance PLC to …