Financial ServicesLanka ORIX Finance goes to Dehiwala
Premier financial services provider Lanka ORIX Finance PLC opened its latest branch in the buzzing city of Dehiwala recently. The new branch is located at No. 85, Galle road, Dehiwala North. LOLC Group Managing Director/CEO Kapila Jayawardena said:
MasterCard, Western Union partner to fuel growth of electronic payments
MasterCard and The Western Union Company have announced a global agreement that will make electronic payments, including prepaid cards and money transfers, more efficient and convenient for consumers around the world.
DFCC Vardhana Bank launches ‘Vardhana Prabhu’ Priority Banking service in Batticaloa
DFCC Vardhana Bank launched the ‘Vardhana Prabhu’ Priority Banking service in Batticaloa last month. The Priority Banking Unit in the Bank’s Batticaloa Branch was opened by Lakshman Silva, CEO, DFCC Vardhana Bank, Gillian Edwards, Head of Personal Financial Services, DFCC Vardhana Bank and Kusumsiri Sathkumara, Regional Manager North, East and North Central Region, DFCC Vardhana Bank amongst the presence of distinguished customers of the branch and its staff
Rupee depreciation: A powerful tool to drive growth and employment?
The Pathfinder Foundation strongly supports the depreciation of the rupee by three per cent announced in the Budget Speech.
Economic Alert 15 called for early remedial action to address the deteriorating trade balance; the buildup of foreign commercial debt/increased debt servicing; and the decline in non-borrowed reserves and running down of extremely large amounts of the country’s foreign reserves defending the rupee.
ASEAN stock exchanges eye cross-border trading in 2012
Reuters: Stock exchanges in Singapore, Malaysia and Thailand delayed a plan to set up electronic trading links to attract investment and raise liquidity, saying it would be done in 2012.
Sri Lanka Insurance Awards Night honours ‘Best of the Best’
The 2011 Sri Lanka Insurance Awards Night, felicitated two key categories of excellence, The best of the best achievers in sales and long standing service personnel.
The event was held on 28th November 2011 at the Bandaranaike Exhibition hall, with the distinguished participation of SLIC Chairman Gamini S Senarath, the Board of Directors and the top management.
TFAB concludes another seminar on ‘International Trade’
A full day seminar organised by the Trade Finance Association of Bankers on “Understanding Trade Risks to meet Global Challenges” was held on 26 November at the Galadari Hotel.
The seminar was open to a wide spectrum of participants such as Importers, Exporters, Bankers, Lawyers, Shipping and Insurance Industry professionals etc. It was a full gathering with about 180 participants.
Standard & Poor’s upgrades Standard Chartered Bank to AA-
The strength of Standard Chartered’s balance sheet, risk management approach and market position across the growing economies of Africa, Asia and the Middle East were cited by Standard & Poor’s “S&P” in its upgrade of Standard Chartered Bank from A+ to AA- last week.
The S&P upgrade clearly demonstrates the bank’s differentiated position versus other international banks. It reinforces the Group’s growing balance sheet, minimal wholesale funding requirements, diversified income streams and the strength of its capital and liquidity positions.
CDB triumphs at National Business Excellence Awards 2011
Citizens Development Business Finance PLC won the ‘Specialised Banking and Financial Services Sector’ Category at the National Business Excellence Awards 2011 organised by the National Chamber of Commerce of Sri Lanka.
Adjudged on the eight point criteria; CDB edged out the other contenders, triumphing in the three-stage process of adjudication comprising a Desk Review, Interviews and a Final Judges’ Review to win this prestigious accolade.
RAM reaffirms National Insurance Trust Funds ratings at AAA/P1
RAM Ratings Lanka has reaffirmed National Insurance Trust Fund’s (NITF) long and short term claims paying ability ratings, at a respective AAA and P1; the long-term rating has a stable outlook.
NITF’s ratings reflect its status as a statutory body of the Government of Sri Lanka (GOSL) and the Fund’s systemic importance as the sole provider of health-insurance coverage to government servants (known as Agrahara); Strike, Riot and Civil Commotion and Terrorism cover (SRCC and TR), and reinsurance in Sri Lanka.
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