DFCC group profits drop in Q1 2018
May 01, 2018 (LBO) - Sri Lanka's DFCC Group recorded a profit before tax of 1,545 million rupees and profit after tax of 1,110 million rupees as compared to …
Banking and Finance
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Pan Asia Bank posts Rs 498 mn PBT in 1Q
(PRESS RELEASE) - Pan Asia Banking Corporation PLC reported Rs 498 million in profit before tax for the quarter ended in March 31, 2018 (1Q’18) powered by a …
Union Bank records 37-pct growth in PAT in 1Q18
Union Bank recorded an impressive Profit Before Tax and VAT of Rs.246 million, reporting a 47 percent growth YoY, thus setting the pace for its next growth …
NTB launch Open API Banking
Apr 25, 2018 (LBO) - Sri Lanka's Nations Trust Bank has launched a API Banking Platform enabling clients to integrate the bank’s services directly into …
Cargills Bank gathers momentum in 2017
(PRESS RELEASE) - In its third year of operations, Cargills Bank achieved a satisfactory profit before tax of Rs. 621Mn, which included a substantial one-off …
Sri Lanka Govt to ensure continued progress of financial inclusion: Fin Min
Apr 18, 2018 (LBO) - Minister of Finance Mangala Samaraweera says it is important for the Sri Lankan financial system to have robust access and engagement …
DFCC relaunches their credit cards
DFCC Bank relaunched their Credit Card range at a special event on 28 March at the Cinnamon Grand, Colombo amidst a large gathering of clients, prominent …
Sri Lanka Central Bank issues warning on virtual currencies
Apr 17, 2018 (LBO) - The Central Bank has warned the pubic about the use of “virtual currencies”, commonly used to refer to digitally created …
Fitch Ratings doubles stake in Sri Lanka unit
Apr 05, 2018 (LBO) - Fitch Ratings has doubled its stake in itch Ratings Lanka Ltd. ,to approximately 89 percent through its acquisition of the equity …
Sri Lanka CB cuts policy rate ceiling by 25bps
Apr 04, 2018 (LB0) - Sri Lanka's central bank has decided to reduce the Standing Lending Facility Rate (SLFR), which is the upper bound of the policy interest …
CB requests CIFL depositors to submit their details of deposits
Mar 26, 2018 (LBO) – Sri Lanka’s Central Bank has requested all CIFL depositors to submit the details of deposits that they have placed with the finance …
Sampath Bank and Ustocktrade LK link to simplify investment in foreign securities
Mar 26, 2018 (LBO) - Sampath Bank PLC has entered into a Memorandum of Understanding (MoU) with Ustocktrade LK (Private) Ltd (ULPL) to enable investors pay …
IFC to loan USD 15Mn to Senkadagala Finance
Mar 23, 2018 (LBO) - Sri Lanka’s Senkadagala Finance will get loan of up to US15 million dollars from the International Finance Corporation (IFC), a …
Multi Finance PLC enables sustainable transactions with “Each One Plant One” campaign
With a proud heritage of over 4 decades in business, Multi Finance PLC has been a source of strength to businesses, and entrepreneurs in the urban rural …
National Financial Inclusion Strategy of Sri Lanka by mid-2019
Mar 21, 2018 (LBO) - Sri Lanka's Central Bank expects to implement the National Financial Inclusion Strategy of Sri Lanka by mid-2019, Dr. Indrajit …
HSBC’s flagship Premier Centre in Colombo re-opens after extensive renovation
HSBC’s flagship Premier Centre strategically located at No 31, Flower Road, Colombo 7 was re-opened after a full renovation by Betty Miao, Head of Retail …
Central Bank cancels CIFL license; legal action against responsible parties
Mar 05, 2018 (LBO) – Monetary Board of the Central Bank has decided to cancel the licence issued to CIFL under the Finance Business Act with effect from …
Not expecting rise in domestic interest rates: CB
Mar 05, 2018 (LBO) - Sri Lanka's Central Bank responding to misleading news reports said it is not expecting a rise in domestic interest rates in the period …
Fitch rates Sampath Bank’s Basel III sub debt final A(lka)
Fitch Ratings has assigned Sampath Bank PLC's (A+(lka)/Negative) proposed Basel III compliant subordinated debentures a National Long-Term Rating of 'A(lka) '. …
Sri Lanka’s economic outlook, investment opportunities positive: Eran
Feb 28, 2018 (LBO) - Sri Lanka government has formulated a three-year Economic Delivery Programme to increase per capita income to US 5000 dollars, create one …