Commercial Bank heralds Avurudu with special discounts for cardholders

Published : 12:43 am  April 2, 2013  |  Category: Financial Services  |  Leave a Comment  |  886 views  |  

As anticipation builds and preparations get underway to celebrate another Sinhala and Tamil ‘Aluth Avurudu,’ the Commercial Bank of Ceylon has joined in the spirit of the occasion to offer its credit and debit cardholders attractive discounts at 14 popular clothing and footwear retailers.  Read More →


Secondary market activity increases as yields dip considerably

Published : 12:00 am  April 1, 2013  |  Category: Financial Services  |  Leave a Comment  |  384 views  |  

By Wealth Trust Securities The point to point inflation for March reflected a deceleration considerably more than the market expected to 7.5% in comparison to its last month figure of 9.8%. However, the annualised average increased further to a high of 8.80% from the previous month’s 8.60%. In line with the drop in point to point inflation, the  secondary market Treasury bond yields dipped to a daily low of 11.12% and a high of 11.40% on the liquid two five year maturities (i.e. 1.4.2018 and 15.8.2018).  Read More →


MBSL completes two listed debenture issues worth Rs. 2.5 b

Published : 12:00 am  April 1, 2013  |  Category: Financial Services  |  Leave a Comment  |  840 views  |  

The investment banking division of Merchant Bank of Sri Lanka PLC, the Corporate Advisory and Capital Markets Division, is in the forefront of debenture issues and successfully completed two listed debenture issues in first quarter of 2013. Being the pioneers in managers and registrars functions, the Corporate Advisory and Capital Markets Division raised a sum of Rs. 500,000,000 through its five-year listed debenture issue for Commercial credit and Finance PLC.  Read More →


Union Bank’s ratings reaffirmed at BBB/Stable/P3

Published : 12:00 am  April 1, 2013  |  Category: Financial Services  |  Leave a Comment  |  412 views  |  

RAM Ratings Lanka has reaffirmed the respective long- and short-term financial institution ratings of Union Bank of Colombo PLC at BBB and P3; the outlook on the long-term rating is stable. The ratings are supported by the bank’s healthy capitalisation but tempered by its small stature, below average asset quality, performance and funding levels. Incorporated in 1995, Union Bank is one of the smallest licensed commercial banks in Sri Lanka, accounting for only 0.74% of industry assets as at end- September 2012. The bank acquired The Finance and Guarantee Company Limited subsequently renamed UB Finance Company Limited for Rs. 600 million in November 2011. UB Finance had faced financial strain... 


Amana Bank expands to North Central Province

Published : 12:00 am  April 1, 2013  |  Category: Financial Services  |  Leave a Comment  |  599 views  |  

Amana Bank opened its latest branch at Kaduruwela on 27 March 2013, offering its unique financial services and solutions to the people of Kaduruwela. The commitment to continuously expand Amana Bank’s branch network across many cities and towns is reiterated with the opening of the bank’s 19th branch.  Read More →


People’s Bank launches door-to-door savings campaign

Published : 12:00 am  April 1, 2013  |  Category: Financial Services  |  Leave a Comment  |  488 views  |  

A program intending to notify the people of ‘Jaya Sri 2013; will be initiated by all branches of People’s Bank with a door-to-door promotion, which commenced on 30 March 2013 from the premises of the Jaya Sri Maha Bodhiya, Anuradhapura. A special religious ceremony was held at 7:30 a.m. with the participation of members of the clergy. The ceremony was attended by Chairman of People’s Bank Gamini Senarath together with the Board of Directors, corporate and executive management of the bank and members of staff.  Read More →


Union Bank posts impressive growth in 2012

Published : 12:00 am  April 1, 2013  |  Category: Financial Services  |  Leave a Comment  |  189 views  |  

Union Bank recorded an impressive performance for the financial year 2012. Highlighting its performance for the year ended 31 December 2012, Anil Amarasuriya, Director/Chief Executive Officer of Union Bank stated that the bank has recorded an impressive 41% growth in core banking operations in comparison with 2011.  Read More →


HNB Assurance wins Celent Model Insurer Asia Award 2013

Published : 12:00 am  April 1, 2013  |  Category: Financial Services  |  Leave a Comment  |  468 views  |  

HNB Assurance has won the highly coveted award for IT for the first time and was the only Sri Lankan insurance company to be listed among the 17 winners from the Asia Pacific region. The award was presented for implementing a claims management system that includes a customer relations centre component, mobile component and automates the entire claim process for motor insurance. The award was presented at the Celent Model Insurer Asia Summit 2013, exchanging ideas on effective use of technology, the Asian edition of the famous Model Insurer Awards that was held in Singapore recently.  Read More →


CSE opens sixth branch office in Anuradhapura

Published : 12:00 am  April 1, 2013  |  Category: Financial Services  |  1 Comment  |  436 views  |  

The Colombo Stock Exchange (CSE) opened its sixth branch office in Anuradhapura on 28 March 2013. The branch is situated on the 2nd Floor, 488/8/2 Town Hall Place, Maithripala Senanayake Mawatha, Anuradhapura.  Read More →


Electronic card introduced for Agrahara health insurance beneficiaries

Published : 3:12 am  March 29, 2013  |  Category: Financial Services  |  3 Comments  |  969 views  |  

The National Insurance Trust Fund, which provides insurance coverage for more than 650,000 Government beneficiaries, has taken a step forward in expanding their services by joining hands with Lanka Hospitals by issuing electronic card for Agrahara beneficiaries. The partnership was made as a result of an initiative formed in order to provide Agrahara beneficiaries easier access to medical facilities in private hospitals.  Read More →


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