Banking and Finance

Tight Quarter

Feb 09, 2013 (LBO) - Sri Lanka's DFCC Bank group's fell 15 percent to 795 million rupees in the December 2012 quarter from a year earlier, dragged down by …

Mob Attack

Feb 08, 2013 (LBO) - A 15-strong mob who stormed into a branch of state-run Bank of Ceylon has left two injured, Sri Lanka's foreign ministry said, calling for …

Rating Action

Feb 08, 2013 (LBO) - An 'AAA(lka)' rating of Sri Lanka's Standard Chartered Bank has been confirmed by Fitch Ratings, with a stable outlook, based on it being …

Appointments

Feb 06, 2013 (LBO) - HSBC has appointed Patrick Gallagher as chief executive for Sri Lanka and Maldives replacing Nick Nicolaou. The new appointment will take …

Bond Sale

Feb 06, 2013 (LBO) - Sri Lanka's Seylan Bank said it will sell up to 2.0 billion rupees in 5-year debt unsecured debt yielding as much as 15.buy doxycycline …

Capital Boost

Feb 05, 2013 (LBO) - International Finance Corporation, a unit of the World Bank has injected 75 million US dollars (9.6 billion rupees) as a subordinated loan …

Small Business

Jan 02, 2013 (LBO) - Sri Lanka's Credit Information Bureau (CRIB) and World Bank arm International Finance Corporation is boosting credit access to small …

Sri Lanka’s People’s Leasing net down 35-pct in Dec

Feb 01, 2013 (LBO) - Profits at Sri Lanka's People's Leasing and Finance, the country's largest non-bank lender fell 35.8 percent to 534 million rupees in the …

Risky Appetite

January 31, 2012 (LBO) – Rising banking system leverage in Asia-Pacific is increasing rating pressure for banks in the region, Fitch Ratings said. Strong …

Finance Rating

Jan 19, 2013 (LBO) - Sri Lanka's Vallibel Finance Ltd has been rated 'BB+' with a stable outlook by RAM Ratings Lanka. "Vallibel’s ratings are moderated …

New Chief

Jan 16, 2013 (LBO) - Razik Zarook a lawyer and a former chairman the Co-operative Wholesale Establishment, has assumed duties as chairman of state-run Bank of …

Credit Trend

Jan 15, 2013 (LBO) - Sri Lanka's commercial banks loaned 24.1 billion rupees to business in November 2012, with the state also borrowing another 18.8 billion …

Eastern Expansion

Jan 15, 2013 (LBO) - Sri Lanka's Amana Bank, which operates on Islamic financial principles said it has expanded its branches in the Eastern province, a former …

Deposit Target

Jan 08, 2013 (LBO) - Sri Lanka's state-run Bank of Ceylon, the country's largest commercial bank by assets is aiming for a trillion rupees in deposits, newly …

Funding Line

Jan 07, 2013 (LBO) - Sri Lanka's LOLC Micro Credit Ltd, said it had syndicated a 55.5 million US dollar from a number of foreign development agencies. FMO …

Borrowing Practices

Jan 02, 2013 (LBO) - Sri Lanka's state-run Bank of Ceylon has loaned nearly 140 billion rupees to customers in former war zones in the North and East and …

Stepping Down

Jan 01, 2013 (LBO) - Gamini Wickramasinghe, who is stepping down as chairman of Sri Lanka's Bank of Ceylon said dealing with loan applicants who expected …

Banking Secrecy

Dec 13, 2012 (LBO) - A rights activist who was a chief executive of a top financial firm has questioned what action Sri Lanka's banks will take following an …

Group Risk

Dec 12, 2012 (LBO) - Sri Lanka's financial regulators will monitor banks connected to conglomerates closely in the future as firms and the financial sector …

Top Rating

Dec 11, 2012 (LBO) - Fitch Ratings has confirmed a 'AAA(lka)' rating of HSBC Sri Lanka with a stable outlook, on the strength of its parent. online pharmacy …