The MBSL Midcap Index increased by 9.18% over the five month period from beginning of January 2013 to end of May and the All Share Price Index (ASPI) which is increased by 14.50% In a pioneering move, MBSL constructed a stock market Index: the “MBSL Midcap Index”, which measures the aggregate price level and price movements of medium sized companies listed on the Colombo Stock Exchange (CSE). There was no index to measure the price movement of medium sized companies listed on the CSE. The MBSL Midcap Index filled this vacuum. The index which came into operation in the Year 1999 is revised annually and looks at the middle range market capitalisation, liquidity and the profitability...
People’s Bank recently held the grand draw for its Ethera Isura NRFC account holders. The grand draw first prize was Rs. 1 million which was won by Siril K. Weerasingha from Kiribathgoda. Additionally, 10 prizes each worth Rs. 100,000 and 15 prizes each worth Rs. 50,000 were awarded to the lucky winners. Weerasingha, who is currently employed in Kuwait, expressing his joy over the win, said: “At first, I couldn’t believe that I had won the grand prize. I felt very happy to hear that I had won Rs. 1 million. It is with great difficulty that we make a decent living today. I opened up an NRFC account in 1984 on a friend’s recommendation.” Read More →
By Wealth Trust Securities Activity in secondary bond markets dried up once again yesterday as market participants were seen adopting a wait and see approach at the start of this week following increases in yields throughout last week. Two way quotes were mainly seen on the liquid two five year maturities (i.e. 1 April 2018 and 15 August 2018), with very thin volumes seen changing hands on the April 2018 maturity at levels of 11.23% as these maturities closed the day at levels of 11.21/24 and 11.25/28 respectively. In addition the eight year maturity was seen been quoted at levels of 11.50/60 while the 364 day bill quotes were seen at 10.80/85. Read More →
An awareness program was conducted for bankers and entrepreneurs of the Hambantota Chamber of Commerce last month at the Ruhuna Resort, Ambalantota. The objective of the program was to educate small and medium entrepreneurs on importance of financial management, services provided by banks to the business community, credit facilities provided by banks and all other practical problems with regard to banking in Sri Lanka. Read More →
REUTERS: A top U.S. banking regulator called Deutsche Bank’s capital levels “horrible” and said it is the worst on a list of global banks based on one measurement of leverage ratios. “It’s horrible, I mean they’re horribly undercapitalised,” said Federal Deposit Insurance Corp Vice Chairman Thomas Hoenig in an interview. “They have no margin of error.” Read More →
By Wealth Trust Securities Foreign selling on rupee bonds coupled with local selling pressure was seen as the main two reasons for a parallel shift upwards on the overall yield curve during the week ending 14 June. Activity continued to mainly surround the two liquid five year maturities (i.e. 15.8.2018 and 1.4.2018) as its yields reflected an increase of 13 basis points during the week to close the week at levels of 11.19/21 and 11.24/28 respectively against its previous weeks closing levels. Read More →
People’s Bank together with People’s Leasing and Finance PLC built the new bus stand in Medawachchiya and the new building of the Medawachchiya People’s Bank branch was recently opened by President Mahinda Rajapaksa. The branch is equipped with state of art technology and offers special services to the residents of Wilgamuwa area. In addition to its regular banking activities, the branch offers loans, pawning facilities, safety lockers as well as day and night PET services. Read More →
Enabling their 13 million customers with efficient trade servicesPeople’s Bank has been awarded with ISO 9001:2008 accreditations from the Sri Lanka Standards Institution (SLSI) in recognition of the quality of its trade service products which enables its customers with a secured and efficient import and export service. The Trade Service Department provides a centralised processing mechanism unit for Sri Lanka’s largest commercial banking network with 730 branches and service centres; catering to the needs of a customer base of over 13 million with easy-to-use banking facilities that enable them to venture across borders for import and export transactions from any of the People’s...
Reuters: Investors are becoming wary of emerging market assets despite their status as one of the last vestiges of yield in a low interest rate environment. Speaking at the Morningstar Investment Conference in Chicago on Thursday, money managers said investors’ expectations for economic growth and investment return in emerging markets are too high relative to risks. Read More →
Visiting Chartered Institute of Securities & Investment (CISI) CEO Simon Culhane applauds Sri Lanka for the vast improvements it has undergone since the end of the 30-year war. However, pointing out that there is more room for improvement in the country’s financial service industry, he opined that the nation is not promoting itself enough to bag opportunities that will help economic development. In an interview with the Daily FT, Culhane spoke about the progress of CISI, and his view of the economy and the financial service industry of Sri Lanka. Following are excerpts: By Shabiya Ali Alham Q: How has the performance of CISI in Sri Lanka been so far? A: It’s been good, but...