NTB, American Express celebrate 10 years of successful partnership in Sri Lanka

Published : 12:00 am  September 2, 2013  |  Category: Financial Services  |  Leave a Comment  |  2,670 views  |  

Nations Trust Bank and American Express announced the successful completion of 10 years of the Nations Trust Bank American Express Credit Cards, launched in 2003 for the Sri Lanka market. In keeping with the 10 year celebratory theme, Nations Trust Bank has introduced a special promotion for their card members. The promotion, which starts from 1 September 2013, guarantees a cash back reward of Rs. 10,000 on a minimum spend of Rs. 4,000 a day for any 20 days during the month of September or a guaranteed cash back reward of Rs. 5,000 on a minimum spend of Rs. 2,000 a day for any 20 days in September. The offer is valid at supermarkets, fuel stations, clothing and retail stores, restaurants as well... 


Union Assurance strengthens bancassurance network with 100 tabs

Published : 12:00 am  September 2, 2013  |  Category: Financial Services  |  Leave a Comment  |  718 views  |  

Union Assurance PLC (UA) recently strengthened its bancassurance network by distributing 100 tablet PCs to its staff attached to the Commercial Bank, bancassurance operation. Commencing a partnership with the bank in 2010, UA has achieved a steady growth in presence with 126 locations and added virtual offices that total the whole operation up to 220 locations. This island wide partnership between UA and Commercial Bank has seen opportunities to offer a wide range of insurance solutions to customers, thereby providing greater protection to Sri Lankan lives and livelihoods. By empowering bancassurance staff with the latest technology, UA aims to provide access to quotations, monitor leads and... 


Sri Lanka launches mega billboard advertising campaign in Beijing

Published : 3:16 am  August 30, 2013  |  Category: Financial Services, Travel / Tourism  |  2 Comments  |  2,852 views  |  

Sri Lanka Tourism’s novel joint mega promotional campaign named ‘Sri Lanka Shines in Beijing’ started off in the Chinese capital on 29 August 2013 with the aim of attracting potential Chinese travellers to Sri Lanka. This joint mega promotion campaign is a result of collective efforts of public and private sector organisations in travel and tourism industry, initiated under the advice of President Mahinda Rajapaksa. The ‘Sri Lanka Shines in Beijing’ joint mega promotion campaign is being held under the guidance of Minister of Economic Development Basil Rajapaksa and organised by Sri Lanka Tourism Promotion Bureau and Sri Lankan Embassy in China. The promotion kicked off on 29 August... 


Nations Trust Shopping Debit MasterCard debuts

Published : 2:49 am  August 30, 2013  |  Category: Financial Services  |  1 Comment  |  1,377 views  |  

By Sarah Hannan Nations Trust Bank PLC (NTB), one of the fastest growing banks in Sri Lanka, launched the Nations Trust Shopping Debit Master Card at a glittering ceremony on Wednesday with Brand Ambassador Kumara Sangakkara as Chief Guest, as well as other dignitaries in attendance. Also present were Area Head South Asia for MasterCard Vikas Varma and Vice President and Account Head South Asia R.B. Santosh Kumar. Executive Director Sarath Piyaratna in his opening note said that NTB strives to provide unparalleled banking solutions to its customers and is the first bank to introduce the 365-day banking facility to Sri Lanka as well as personalised banking services through ‘Bank-At-Your-Doorstep’. Head... 


BRICS agree capital structure for development bank

Published : 2:48 am  August 30, 2013  |  Category: Financial Services  |  Leave a Comment  |  542 views  |  

Reuters: The BRICS bloc of large emerging economies have agreed on the capital structure for a proposed development bank that aims to reduce their reliance on Western financial institutions, the Wall Street Journal reported. Officials from India, Brazil, China, Russia and South Africa agreed to set up the bank with a total capital of $ 50 billion, shared equally among them, it quoted an unnamed senior Indian government official as saying. The decision was made at a meeting in New Delhi in the first week of August, the newspaper said. The move would likely end disagreements over the funding and management of the bank as China had earlier proposed total bank capital of $ 100 billion and sought... 


Softlogic Finance debenture oversubscribed at Rs. 500 m

Published : 2:48 am  August 30, 2013  |  Category: Financial Services  |  Leave a Comment  |  1,039 views  |  

Softlogic Finance PLC is pleased to announce oversubscription of its debenture issue, where the amount to be raised of Rs. 250 million was oversubscribed and further debentures amounting to Rs. 250 million were issued, taking the total transaction to Rs. 500 million. The issue opened on 22 August and closed on the following day, with keen interest seen in the senior, listed, rated, unsecured, redeemable, three-year debentures offered by Softlogic Finance. The issue was made in three different categories that were structured to suit different investor profiles and consisted of Type A – fixed rate paid annually, Type B – fixed rate paid semi-annually and Type C – fixed rate paid monthly. The... 


Commercial Bank adjudged Sri Lanka’s ‘Best Trade Bank’ for 4th time

Published : 2:47 am  August 30, 2013  |  Category: Financial Services  |  Leave a Comment  |  786 views  |  

The Commercial Bank of Ceylon has been adjudged the ‘Best Trade Bank’ in Sri Lanka by Trade Finance magazine of the UK, following an independent poll of services provided by banks. The 2013 award won by Commercial Bank is its fourth Best Trade Bank Award since Trade Finance began presenting such an award in 2009. According to Trade Finance, which is published by Euromoney PLC, London, there was a revamp of the country categories in this year’s Asia Pacific awards to reflect the heightened role that local and regional banks play in trade finance. Holding on to their country awards alongside Commercial Bank in 2013 were the Bank of China, Bank Mandiri (Indonesia), Kookmin Bank (South Korea),... 


Comtrust-Adl Mudarabah Fund declares dividend

Published : 2:47 am  August 30, 2013  |  Category: Financial Services  |  Leave a Comment  |  712 views  |  

The Comtrust-Adl Mudarabah Fund has recorded impressive growth during its first seven months of operation. The fund, which was launched in January 2013 at the initial unit price of Rs. 10, recently declared a 40 cents per unit dividend to its unit holders from the income earned up to 30 June 2013. As at end-July 2013, the unit price was Rs. 10.61 (prior to the payment of dividend) and this translates to an annualised year-to-date return (AER) of 10.70% p.a. Structured as a unit trust with the objective of providing short term returns to investors, the fund is an initiative of Adl Capital Ltd. and leading unit trust company, Comtrust Asset Management Ltd. Deutsche Bank functions as Trustee to... 


Nihal Kekulawala joins Pan Asia Bank Board

Published : 2:45 am  August 30, 2013  |  Category: Financial Services  |  Leave a Comment  |  591 views  |  

Senior banker Nihal Kekulawala has been appointed to the Board of Pan Asia Bank Plc as a Non Executive Independent Director with effect from 28 August 2013. This appointment has been approved by the Central Bank. Kekulawala was the Senior Deputy General Manager – Strategy and Compliance at HNB. Prior to that, he held positions such as CFO, Assistant General Manager Finance and Planning, and Chief Accountant at HNB. He began his professional career in an audit environment in the UK and moved to the banking sector in Australia, and then to Sri Lanka. He counts more than 25 years of results oriented financial management experience in the financial services industry. He contributed and played a... 


AG advice still pending over Ceylinco Shriram case

Published : 2:45 am  August 30, 2013  |  Category: Financial Services  |  Leave a Comment  |  658 views  |  

By Lakmal Sooriyagoda The Criminal Investigations Department (CID) yesterday informed Court that extracts of the investigations in connection with the Ceylinco Shriram case have been forwarded to the Attorney General for his advice and that it was yet to receive a reply from him over the matter. When the case pertaining Ceylinco Shriram Capital Management Services, in which 11 suspects including former Ceylinco chairman Lalith Kotelawala and his wife Sicille Kotelawala who had been named as suspects, came up before Colombo Fort Magistrate, the CID further informed that it had already concluded the investigations into the matter. Meanwhile, the CID sought a long date for next calling date and... 


Page 249 of 696« First...102030...247248249250251...260270280...Last »