CB extends suspension of Pan Asia Bank primary dealer activities by 6 months
Aug 15, 2018 (LBO) – Monetary Board has decided to extend the suspension of business and activities of a Primary Dealer of Pan Asia Banking Corporation for a …
Banking and Finance
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CSE listed CDB reports profit of Rs339mn; Deposits grow to Rs47bn
August 13, 2018 (LBO) - Colombo Stock Exchange listed Citizens Development Business Finance (CDB) reported robust profits for the June 2018 quarter. online …
Abans Finance (AFSL) reports modest profit, deposits at 6.5bn, balance sheet shrinks sequentially
August 13, 2018 (LBO) - Colombo Stock Exchange listed Abans Finance PLC (AFSL) released quarterly results for the period ended June 2018. online pharmacy buy …
Pan Asia Bank PAT tops Rs.800Mn in 1H 2018
Aug 10, 2018 (LBO) - Pan Asia Banking Corporation PLC reported its best ever profit recorded in a first half in 2018 anchored by solid growth in new loans, …
Sr Lanka’s Nations Trust Bank Records PAT of Rs1,875Mn
Aug 07, 2018 (LBO) - The Nations Trust Bank closed the six months period ending June 30, 2018 with a post-tax profit of 1,875 million rupees and a pre-tax …
Sampath Group pre-tax profit exceeds Rs10Bn for first half of 2018
(PRESS RELEASE) - Sampath Bank’s Group pretax profit for the first half of the year exceeded Rs 10.3 Bn (28.2% growth) while Sampath Bank recorded a pre-tax …
LOLC Finance, Mobitel to offer Digital Loans to customers via mCash
Reinforcing its market leadership and strengthening its partner base, Mobitel has joined hands with LOLC Finance PLC to offer Digital Loans for the first time …
Sri Lanka keeps rates unchanged
Aug 03, 2018 (LBO) - Sri Lanka has decided to keep policy rates unchanged with the aim of stabilising inflation at mid-single digit levels in the medium term, …
Finance Min calls for new regulatory body for Microfinance industry
Aug 03, 2018 (LBO) - Sri Lanka's Finance Minister said that he is proposing the establishment of a new microfinance regulatory authority together with …
Sri Lanka inflation up 5.4-pct in July
Aug 01, 2018 (LBO) - The year on year inflation as measured by CCPI is 5.4 percent in July 2018 while inflation calculated for June was 4.4 percent, data …
Impairment provisions affect Sri Lanka’s DFCC Bank bottom line
July 30, 2018 (LBO) – Sri Lanka's DFCC Bank, the banking arm of the DFCC Group reported a drop in profit for the second quarter amidst a challenging business …
Moody’s affirms ratings of BOC, HNB & Sampath; maintains negative outlook
July 26, 2018 (LBO) – Moody's Investors Service has affirmed the local currency deposit ratings of Bank of Ceylon (BOC), Hatton National Bank Ltd. (HNB) and …
Glass ceiling obliterated, Shemara Wikramanayake to become CEO of global investment bank Macquarie
July 26, 2018 (LBO) - Shemara Wikramanayake is set to take over as CEO of global investment bank Macquarie in November of 2018. Ms. Wikramanayake was born …
Central Bank decides to cancel licence of Standard Credit Finance Limited
July 25, 2018 (LBO) – Monetary Board of the Central Bank of Sri Lanka has decided to cancel the Licence issued to Standard Credit Finance Limited with effect …
Opinion : Financial reporting and the impact on capital market development
By Nandika Buddhipala Introduction The origination of financial reporting can be closely connected to the requirement to collect and record data which evolved …
Union Bank (UBC) continues to stagnate 4 years after historic TPG investment
July 25, 2018 (LBO) - Colombo Stock Exchange listed Union Bank of Colombo (UBC) reported lacklustre results for the quarter ended June 2018. These results …
USD 100Mn World Bank aid to modernize the education system in Sri Lanka
Jul 25, 2018 (LBO) - Sri Lanka signed a US 100 million dollas credit agreement with the World Bank to support Sri Lanka’s efforts to strengthen and …
Cabinet nod for Govt. to write off microfinance debt
Jul 25, 2018 (LBO) - Sri Lanka's government approved a Cabinet paper to write off non-consumption loans up to 100,000 rupees given to women by all …
Fitch maintains negative watch rating on Sri Lanka’s HDFC Bank
Jul 24, 2018 (LBO) - Fitch Ratings has maintained Housing Development Finance Corporation Bank of Sri Lanka's (HDFC Bank) National Long-Term Rating of …
Guardian Acuity Asset Management Unit Trust Funds bags Gold and Silver
MEDIA RELEASE July 22, 2018 (LBO) - Guardian Acuity Asset Management underlined its position as one of Sri Lanka’s leading unit trust management companies, …