Friday 18th April 2014

The Finance Negombo Branch moves to modern and spacious location

Published : 12:00 am  December 18, 2012  |  Category: Financial Services  |  Leave a Comment  |  884 views  |  

The Finance Negombo Branch which served the public in the area of Negombo for the past 32 years moved into a more modern and spacious location at No. 317, Main Street, Negombo yesterday.  Read More →


Market liquidity remains at net deficit

Published : 12:00 am  December 18, 2012  |  Category: Financial Services  |  Leave a Comment  |  164 views  |  

By Wealth Trust Securities The liquidity shortfall that prevailed during the most part of last week continued, with the Central Bank injecting an amount of Rs. 13.70 billion into the system at the window rate of 9.50%. This intern helped keep overnight call money and repo rates steady to average 10.30% and 9.40% respectively. This was subsequent to the OMO auction being rejected due to high bid rates.  Read More →


CB awards Treasury Management System contract to Just In Time Holdings, CCK Financial Solutions

Published : 12:00 am  December 17, 2012  |  Category: Financial Services  |  Leave a Comment  |  1,017 views  |  

The Central Bank of Sri Lanka through the Monetary Board entered into a contract with Just In Time Holdings and CCK Financial Solutions Ltd. (CCK) of Australia, for the supply, installation, commissioning and maintenance of a Treasury Management System. In view of the growth of the foreign exchange reserves of the country, the Central Bank of Sri Lanka (CBSL) had embarked on a modernisation project at the International Operations Department, which conducts the international reserves management activities.  Read More →


NAMAL launches new Sharia compliant unit trust

Published : 12:00 am  December 17, 2012  |  Category: Financial Services  |  Leave a Comment  |  339 views  |  

National Asset Management Ltd. (NAMAL) has announced the launch of the NAMAL Sharia Fund, a Sharia compliant unit trust. The NAMAL Sharia Fund offers investors an opportunity to invest in a diversified portfolio of Sharia compliant equities listed on the Colombo Stock Exchange with the objective of maximising medium to long term returns. The Initial Public Offering (IPO) commenced on 17 December 2012.  Read More →


Union Bank opens first SME Centre

Published : 12:00 am  December 17, 2012  |  Category: Financial Services  |  Leave a Comment  |  296 views  |  

Strengthening its focus of delivering financial solutions to Small and Medium Enterprise (SME) businesses, Union Bank opened its first SME Centre at the Gampaha branch located at 6, Asoka Gardens, Colombo Road, Gampaha. The centre was ceremonially opened on 10 December 2012.  Read More →


Orient Wealth opens Kalutara sales point

Published : 12:00 am  December 17, 2012  |  Category: Financial Services  |  Leave a Comment  |  364 views  |  

Orient Wealth Ltd. has extended its services to Kalutara by opening a sales point at the Janashakthi office building located at 338/1/1, Galle Road, Kalutara South, recently for the benefit of the people in the area. Lucky Gamage, Head of Retail Sales of Orient Wealth officially opened the unit and accepted applications from investors in the area. Many residents from Kalutara were present at the function and graced the occasion.  Read More →


A deeper analysis of finance companies

Published : 12:00 am  December 17, 2012  |  Category: Financial Services  |  2 Comments  |  612 views  |  

By a Special Correspondent Recent media reports in relation to the half-year results of finance companies are indeed interesting reading. Industry leaders Central Finance and LB Finance have continued to show impressive results for the six months, with Central Finance earning a net profit of Rs. 1.6 billion on a deposit base of Rs. 23 billion. LB Finance too has recorded a profit of Rs. 862 million on a deposit base of Rs. 33 billion. However, it should be noted that Central Finance with its long history has upto 15 billion in shareholders’ funds whilst LB Finance stands at Rs. 4.5 billion.  Read More →


Europe deepens union with ECB as chief bank watchdog

Published : 12:00 am  December 17, 2012  |  Category: Financial Services  |  Leave a Comment  |  145 views  |  

Reuters: Europe clinched a deal on Thursday to give the European Central Bank new powers to supervise euro zone banks, embarking on the first step in a new phase of closer integration to help underpin the euro. After more than 14 hours of talks and following months of tortuous negotiations, finance ministers from the European Union’s 27 countries agreed to hand the ECB the authority to directly police the euro zone’s biggest banks and intervene in smaller banks at the first sign of trouble.  Read More →


NDB aims to propel growth of remittances

Published : 12:00 am  December 17, 2012  |  Category: Financial Services  |  Leave a Comment  |  274 views  |  

Appoints Vision Care as a Sub Agent for Western Union money transfer serviceNational Development Bank PLC (NDB) recently tied up with Vision Care Optical Services Limited, enabling the company to provide the Western Union money transfer service to beneficiaries through its branches islandwide.  Read More →


Asia Pacific banks resilient to risks but upgrade prospects slim: Fitch

Published : 12:00 am  December 17, 2012  |  Category: Financial Services  |  Leave a Comment  |  212 views  |  

Fitch Ratings said yesterday the Stable Outlook for 2013 for Asia Pacific (APAC) banks reflects broadly their ability to handle the risks of a less favourable external environment. Prospects for upgrade, however, are held back by rising leverage across Asia Pacific and the risk of a sharper slowdown in China.  Read More →


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