Fitch Withdraws Home Lands Skyline’s rating
Fitch Ratings has withdrawn Home Lands Skyline (Pvt) Ltd.'s (HLSL) National Long-Term Rating. Prior to the withdrawal, HLSL's National Long-Term Rating was …
Banking and Finance
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Central Bank Executive Officers’ Union Clarifies Recent Salary Revision
The Central Bank Executive Officers' Union (CBEOU) issued a press release today to clarify the facts surrounding the recent salary revision for Central Bank …
Fitch Assigns Merchant Bank of Sri Lanka & Finance First-Time Rating of BBB+(lka); Outlook Stable
Fitch Ratings has assigned Merchant Bank of Sri Lanka & Finance PLC (MBSL) a first-time National Long-Term Rating of 'BBB+(lka)'. The Outlook is Stable. …
Fitch Rates Commercial Bank of Ceylon’s Basel III Subordinated Debt ‘BBB+(EXP)(lka)’
Fitch Ratings has assigned Commercial Bank of Ceylon PLC's (COMB, A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel IIIcompliant subordinated …
CCC Outlook 2024: Anticipated rebound depends crucially on effective debt restructuring
The 9th edition of the annual flagship Outlook Report for 2024 by The Ceylon Chamber of Commerce was recently launched at the Economic Outlook 2024 seminar. …
Hidden Fees in Electronic Card Payments: A Call for Action
Sumedha Amarasinghe, the Deputy Secretary of the Association of Leasing and Debt Instalment Payers, has highlighted a significant issue with electronic card …
Relaxation of restrictions imposed on standing facilities
The Central Bank of Sri Lanka introduced restrictions on the usage of the Standing Facilities by the Licensed Commercial Banks (LCBs) under the Open Market …
Inclusive and sustainable businesses set new pathways for Sri Lanka
By Marta Perez Cuso and Yihan Zhao: Selyn, a women-led handloom business, offers flexible employment and valuable income opportunities to about 1,000 women …
Sri Lanka Central Bank to implement single policy rate mechanism
Sri Lanka's Central Bank of Sri Lanka (CBSL) said it seeks to consolidate monetary policy operations under a single benchmark rate. Governor of the CBSL …
Cargills Bank debuts trading on the Colombo Stock Exchange
The shares of Cargills Bank Limited (CODE: CBNK-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on 09th January 2024. The shares have been listed …
Fitch maintains Sri Lanka Telecom’s ‘A(lka)’ National Rating on watch positive
Fitch Ratings has maintained Sri Lanka Telecom PLC's (SLT) 'A(lka)' National Long-Term Rating on Rating Watch Positive (RWP). The RWP reflects the potential …
Union Bank appoints Dilshan Rodrigo as Deputy CEO
Union Bank announces the appointment of Dilshan Rodrigo as the Deputy Chief Executive Officer with effect from 15 January 2024. Dilshan Rodrigo is a top …
ComBank unveils evolved logo, symbolising commitment to sustainability
The Commercial Bank of Ceylon has begun 2024 by underlining its commitment to sustainability – symbolically as well as literally. The instantly-recognisable …
Janashakthi Group announces transfer of 25% of First Capital Holdings shares to Janashakthi Insurance
Janashakthi Group (JXG), a leading conglomerate in financial services with a presence in the Insurance, Finance, and Investment sectors, announces a strategic …
Nirvana Chaudhary appointed as Chairman, Union Bank
Union Bank announced the appointment of Nirvana Chaudhary as the Chairman of Union Bank with effect from 21 December 2023. Chaudhary was appointed as a …
Sri Lanka Banks Association Defends Parate Execution as Last Resort to Protect Depositors’ Funds
The Sri Lanka Banks Association (SLBA) has issued a statement defending the use of Parate Execution as a legal remedy for recovering mortgaged assets from …
Standard Chartered Sri Lanka strengthens regional ties with Correspondent Banking Conference 2023
Standard Chartered Sri Lanka announced the conclusion of its Correspondent Banking Regional Conference for 2023, held at the Galle Face Hotel on November 23 …
ComBank raises Rs 12 bn. as Debentures are snapped up on opening day
The Commercial Bank of Ceylon has raised Rs 12 billion in capital with its Debenture issue closing after over subscription on its opening day, Tuesday 12th …
Port City Colombo in round table discussion at Commonwealth Trade and Investment Summit
Port City Colombo (PCC) showcased its commitment to sustainable development and global economic cooperation at the third Commonwealth Trade and Investment …
Fitch Downgrades Singer Finance to ‘BBB(lka)’; Outlook Stable
Fitch Ratings has downgraded Singer Finance (Lanka) PLC's (SFL) National Long-Term Rating to 'BBB(lka)' from 'BBB+(lka)'. The Outlook is Stable. Fitch has also …