Pan Asia Bank raises $ 20 m to fund sustainable energy projects

Published : 1:09 am  September 30, 2013  |  Category: Financial Services  |  Leave a Comment  |  1,091 views  |  

Pan Asia Bank has entered into an agreement with the Global Climate Partnership Fund (GCPF) to raise US$ 20 million through a seven-year senior unsecured loan. GCPF is an investment fund which provides financing for sustainable energy projects. The German Federal Environment Ministry, KfW, the Ministry of Foreign Affairs of Denmark and IFC are among the investors in GCPF. Deutsche Bank AG is the investment manager for GCPF. The funds raised would be utilised to finance renewable energy and energy efficiency projects which is a sector of immense importance that would support the post conflict growth in Sri Lanka. Under the agreement with GCPF, in addition to the loan Pan Asia Bank will also benefit... 


MTI CFO Forum – 2013 today

Published : 1:09 am  September 30, 2013  |  Category: Financial Services  |  Leave a Comment  |  630 views  |  

The MTI CFO Forum – 2013 will be held today, Monday 30 September, at the JAIC Hilton Colombo from 5:30 p.m. to 8 p.m. The event is organised MTI Corporate Finance, an international consultancy with over 500 client-specific assignments across 40 countries and extensive experience in corporate finance locally and internationally. This forum creates a platform that will discuss some of the challenges and opportunities experienced by the corporate finance function in Sri Lanka. The core presentation of the evening will be delivered by Hilmy Cader, CEO of MTI Consulting. The MTI CFO Survey 2013 results is the contribution and support of 100 Chief Financial Officers and 50 Chief Executive Officers... 


Secondary market Treasury yields continue to head south

Published : 1:08 am  September 30, 2013  |  Category: Financial Services  |  Leave a Comment  |  489 views  |  

By Wealth Trust Securities The bullish sentiment created following the NSB dollar bond issue continued for a third consecutive week as the secondary market yields took a parallel shift downwards. The two liquid five year maturity treasury bonds (i.e. 01 April 2018 and 15 August 2018) hit one month lows of 11.68% and 11.70% respectively against the previous week’s closing levels of 11.84/87 and 11.86/92. Furthermore, yields of the two year maturities decreased to 11.03% while the three and a half year maturity bonds traded within a range of 11.48% to 11.55%, with activity remaining high.  In addition other maturities such as the 1 April 2014 decreased to weekly lows of 9.95%. With regards to... 


MCSL Financial Services opens Kirulapone metropolitan branch

Published : 1:08 am  September 30, 2013  |  Category: Financial Services  |  Leave a Comment  |  927 views  |  

MCSL Financial Services Ltd. (MCSL) ceremonially opened its 15th branch at No. 67, Mahinda Place, Kirulapone on 18 September. The branch was declared open by Chief Guest MP Thilanga Sumathipala. The metropolitan branch offers financial services such as lease, hire purchase, term loans, fixed deposits, gold loans and real estate. The operations of the Ceylease Head Office which was at No. 182, Platinum Tower, Alvitigala Mawatha, Colombo 8 will be shifted to the MCSL Metropolitan branch as a result of the recent merger of Ceylease with MCSL Financial Services. MCSL Financial Services Ltd. is a subsidiary company of the Bank of Ceylon and Merchant Bank of Sri Lanka PLC.  Read More →


NDB takes its universal banking services to Mahiyanganaya

Published : 1:08 am  September 30, 2013  |  Category: Financial Services  |  Leave a Comment  |  520 views  |  

Continuing its rapid expansion drive island wide, NDB opened its newest branch in Mahiyanganaya in a bid to support the rapid economic development taking shape in the area. With the opening of the latest branch, NDB branch network has now grown to 76. Mahiyanganaya is a city with renowned opulence and a rich heritage. Nourished by the historic ‘Sorabora’ lake and home to the indigenous natives of Sri Lanka; the abundance of its soil gives life to bountiful crops that sustain the economy of the nation. The city is acknowledged to hold great potential to contribute to the economic rejuvenation taking place within the country. The traditional agricultural economy and the growing industrial activity... 


Unique merger of BOC Group MCSL and Ceylease

Published : 4:51 am  September 27, 2013  |  Category: Financial Services  |  Leave a Comment  |  968 views  |  

Job security of employees guaranteed No discriminations Business activities broad based and synergised Minority shareholder interests well secured A unique amalgamation of two BOC Group Companies, Ceylease Financial Services Ltd. with MCSL Financial Services Ltd., was successfully concluded recently. MCSL was a subsidiary of MBSL and associate company of BOC and Ceylease a subsidiary of BOC for 55% and 45% being held by Phoenix Group and Prime Lands Ltd.  Read More →


ICICI Bank sponsors MTI CFO Forum 2013

Published : 4:50 am  September 27, 2013  |  Category: Financial Services  |  Leave a Comment  |  722 views  |  

ICICI Bank, India’s largest private sector bank, has partnered with MTI Corporate Finance for sponsoring the MTI CFO Forum 2013, which will be held on 30 September, 2013 in Colombo. The bank is sponsoring the event through its branch in Sri Lanka. ICICI Bank offers world class products and solutions to meet personal, corporate, investment, treasury and trade requirements of customers. The bank sees the importance of forums to discuss the challenges and opportunities of corporate finance in Sri Lanka. “We believe the corporate finance function plays a vital role across all organisations and knowledge sharing of this nature will facilitate enhancement of overall business performance,” said... 


Union Bank opens its 45th branch in Kekirawa

Published : 4:48 am  September 27, 2013  |  Category: Financial Services  |  Leave a Comment  |  755 views  |  

Union Bank of Colombo PLC opened its 45th branch in Kekirawa on the 23 September 2013 at 21D, Yakalla Road, Kekirawa. The new branch was ceremonially opened by Union Bank Director/Chief Executive Officer Anil Amarasuriya in the presence of Union Bank Chief Operating Officer Nilanth de Silva and distinguished invitees.  Read More →


Pan Asia Bank opens 76th branch in Homagama

Published : 4:46 am  September 27, 2013  |  Category: Financial Services  |  Leave a Comment  |  827 views  |  

Pan Asia Bank ceremonially opened its 76th branch in Homagama on 26 September 2013 at No. 381, High Level Road, Homagama. Western Provincial Council Member Gamini Thilakasiri was the chief guest and Homagama Pradeshiya Sabha Chairman A.G. Kumarasiri graced the event as the guest of honour. Pan Asia Bank Director/ Chief Executive Officer Claude Peiris, senior management of the bank, members of the business community and customers in the area were among the other distinguished guests. Prasad Amarasekara heads the Pan Asia Bank Homagama branch and the branch will be open all 365 days operating from 9 a.m. to 6 p.m. on weekdays, from 9 a.m. to 1 p.m. on Saturdays and from 10 a.m. to 1 p.m. on Sundays.  Read More →


Pan Asia Bank launches ‘Black’ credit card with market’s lowest interest rate

Published : 4:45 am  September 27, 2013  |  Category: Financial Services  |  1 Comment  |  1,826 views  |  

Pan Asia Bank recently added yet another innovative product to its credit card portfolio by launching the Pan Asia Bank ‘Black’ MasterCard, which offers an unparalleled true value to cardholders by way of offering the lowest interest rate in the market. With the introduction of this new product which falls under the premium ‘Titanium’ category of MasterCard, Pan Asia Bank is now offering three card products targeted at three distinct customer segments, namely World MasterCard, Pan Asia Black and Pan Asia Gold. While the most salient feature of the new Pan Asia Black Card is the lowest interest rate of 19.75% p.a it offers, it also boasts of following value added features: Free of charge... 


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