Financial Services

Bond yields increase further ahead of weekly bill auction

Views - 63 Tuesday, 21 August 2018 00:00

By Wealth Trust Securities Secondary bond market yields were seen increasing further yesterday, with the liquid maturities of 15.07.23 and 01.08.24 hitting highs of 10.00% and 10.05% respectively against its previous day’s closing levels of 9.93/98

BOC partners with UnionPay International to enhance payment options in Sri Lanka

Views - 37 Tuesday, 21 August 2018 00:00

The Bank of Ceylon launched partnership with UnionPay International (UPI) to add UnionPay card acceptance to its merchants in Sri Lanka and Maldives. This is a key milestone for Bank of Ceylon to welcome international customers who possess a UnionPay

HNBA posts steady growth in 1H 2018

Views - 28 Tuesday, 21 August 2018 00:00

HNB Assurance Group delivered impressive financial results for the first half of 2018, posting a Profit After Tax of Rs. 805 m. The first half PAT is inclusive of the regular profits together with the one-off surplus which arose from the insurance i

Cargills Bank surges forth with phenomenal interest rates for fixed deposits

Views - 57 Tuesday, 21 August 2018 00:00

Cargills Bank has newly introduced attractive interest rates for one-year and six-month fixed deposits to encourage customers for long-term savings. An incredible 12.75% interest on maturity is now available for one-year fixed deposits. The Bank fur

Combank to keep 70 branches open on Hajj festival day

Views - 6 Tuesday, 21 August 2018 00:00

The Commercial Bank of Ceylon has announced it will keep 70 branches open for business tomorrow, a public and bank holiday to mark the Hajj festival. The Bank said the branches scheduled to operate on that day would include the Bank’s 27 supermarke

NDB holds Investor Webinar for H1 2018

Views - 21 Tuesday, 21 August 2018 00:00

NDB Bank held its Investor Webinar following the release of the bank’s financial results for the first six months ended 30 June 2018 (H1 2018) to the Colombo Stock Exchange. The Investor Webinar marks a key item in the bank’s structured investor

Union Assurance adds life-changing fresh outlook to its branch network

Views - 16 Tuesday, 21 August 2018 00:00

Celebrating over 30 years of excellence, Union Assurance continues to invest in people, products and processes to become a true partner in success for all stakeholders. Delivering the best for its customers and providing quality and standard services

Digital transformation: explore, leverage and grow with HSBC

Views - 42 Tuesday, 21 August 2018 00:00

Technology is a definite game changer in achieving a competitive advantage in today’s increasingly digital climate. So is a technologically-empowered workforce. With technology and regulation leading to much more open banking frameworks across the

New era dawns at People’s Merchant Finance

Views - 27 Tuesday, 21 August 2018 00:00

The strategic direction introduced by the new leadership in mid-November 2017 has led PMF to breakeven in the month of March 2018. The Company made a profit for the 1st time in 6 years and made the highest monthly credit disbursements of Rs. 370 mill

Combank to keep 70 branches open on Haji Festival

Views - 22 Monday, 20 August 2018 00:00

The Commercial Bank of Ceylon has announced it will keep 70 branches open for business on Wednesday (22 August), a Public and Bank holiday to mark the Hajj Festival day.

NDB Smart Agri provides customers with special interest rate

Views - 37 Monday, 20 August 2018 00:00

NDB recently introduced ‘Smart Agri’ via NDB Leasing to support the vehicle requirements of customers involved in agriculture, poultry, fisheries, and animal base businesses.

Commercial Credit and Finance relocates branches in Kekirawa and Trincomalee

Views - 17 Monday, 20 August 2018 00:00

Commercial Credit and Finance PLC, internationally renowned as one of Sri Lanka’s premier financial service organisations recently relocated its branches in the two bustling towns of Kekirawa and Trincomalee.

Secondary bond market remains active as yields fluctuate

Views - 79 Monday, 20 August 2018 00:00

The secondary bond market remained active during the week ending yesterday, with yields initially decreasing towards the early part of the week prior to bouncing back up towards the later part.

CSE edges down; foreign investors sell John Keells

Views - 108 Friday, 17 August 2018 00:10

Reuters: Shares ended marginally weaker on Thursday, marking their fifth straight session of losses, as foreign investors sold market heavyweight John Keells Holdings amid global worries.

Gold given respite by planned US, China trade talks

Views - 24 Friday, 17 August 2018 00:10

LONDON (Reuters): Gold prices bounced from 19-month lows on Thursday as the dollar slipped on news that China and the United States will hold trade talks this month, although sentiment remained negative.

Secondary market bond yields increase across the board

Views - 76 Friday, 17 August 2018 00:10

The secondary bond market witnessed an increasing trend in yields yesterday, for the first time in 14 days, on the back of considerable selling interest. The maturities of 2021’s (i.e. 01.03.21, 01.05.21, 01.08.21, 15.10.21

HDFC Bank’s new CEO assumes duties

Views - 118 Friday, 17 August 2018 00:10

Palitha Gamage, a Senior Banker with over 30 years of experience in banking has been appointed as CEO/GM of HDFC Bank of Sri Lanka. He assumed duties on 16August at the Bank’s Head office, Colombo 2.

Future Govt. must act decisively to fully expose Yahapalanaya Bond Scam & bring mega masterminds to

Views - 131 Friday, 17 August 2018 00:10

The Yahapalanaya Bond Scams from February 2015 to June 2016 inflicted staggering losses on the country, economy and people of Sri Lanka, and irreparably damaged the country’s reputation.

CISI expands in Sri Lanka

Views - 58 Thursday, 16 August 2018 00:17

The Chartered Institute for Securities and Investment, the leading professional body for securities, investment, wealth and financial planning professionals which is based in the UK, relocated to its new office premises in Sri Lanka at 345, R.A. De M

Cargills Bank joins RippleNet for cross-border remittance blockchain

Views - 930 Thursday, 16 August 2018 00:15

Cargills Bank Ltd. announced it is joining RippleNet to facilitate cross-border inward remittances to Sri Lanka. Cargills Bank will use xCurrent, Ripple’s blockchain based enterprise software solution, to enable safe and secure cross-border transac

Fitch’s Sri Lankan Banks Report Card 1Q: Broadly stable credit profiles; sector outlook Negative

Views - 530 Thursday, 16 August 2018 00:01

Steady profiles; challenging environment: The performance of Sri Lankan banks under Fitch Ratings’ coverage remained fairly stable through 2017 and 1Q18, and Fitch expects their credit profiles to remain broadly intact. However, Fitch Ratings maint

Nawaz first Islamic Finance professional in SL to receive financial certifications from GAFM, USA

Views - 248 Thursday, 16 August 2018 00:00

Muhammed Badurdeen Muhammed Nawaz (Nawaz Badurdeen), an Islamic Finance professional who has more than 15 years’ experience in the areas of capital markets, Shari’ah compliant product development and Islamic micro finance, is the first Sri Lankan

CB extends suspension of primary dealer Pan Asia

Views - 53 Thursday, 16 August 2018 00:00

The Central Bank yesterday decided to extend the suspension of primary dealer Pan Asia Bank by an additional six months to conduct investigations. The Monetary Board of the Central Bank, acting in terms of the regulations made under the Registered S

Gold hits over 18-month low as dollar flares on Turkey woes

Views - 14 Thursday, 16 August 2018 00:00

BENGALURU (Reuters): Gold prices fell to a more than 18-month low on Wednesday as the dollar hit an over 13-month peak on demand emerging from concerns about Turkey’s financial turmoil. The greenback, in which gold is priced, has been bolstered by

CSE extends fall as foreigners sell

Views - 33 Thursday, 16 August 2018 00:00

Reuters: Sri Lankan shares fell for a fourth straight session yesterday, as foreign investors pared holdings in market heavyweight John Keells Holdings amid global worries. Lacklustre corporate results also hit investor appetite for riskier assets, a

India says forex reserves comfortable to withstand rupee fall

Views - 16 Thursday, 16 August 2018 00:00

NEW DELHI (Reuters): India’s foreign exchange reserves are comfortable by global standards and sufficient to mitigate any undue volatility in the foreign exchange market, the finance minister said on Wednesday, a day after the rupee currency sank t

Rupee hits record low, Turkey woes hit emerging markets

Views - 50 Thursday, 16 August 2018 00:00

Reuters: The rupee hit a record low yesterday, tracking weakness in emerging-market currencies as Turkey’s financial woes bruised investor risk appetite, dealers said. Absence of dollar conversions by exporters and remittances also weighed on the m

Weekly weighted average yields continue to decrease

Views - 39 Thursday, 16 August 2018 00:00

By Wealth Trust Securities The declining trend in the weekly Treasury bill weighted average yields continued for a fifth consecutive week, with the 364-day bill dipping to the 9% psychological level for the first time since 14 February. The 364-day b

KPMG launches first ever report on SL’s banking sector

Views - 317 Thursday, 16 August 2018 00:00

KPMG has launched its first-ever report on Sri Lanka’s banking sector highlighting industry trends, challenges and opportunities.

Banking on fundamentals

Views - 175 Thursday, 16 August 2018 00:00

Sri Lankan banks to face a new era with added CET 1 from the recent rights issues of the LCB sector, the main driving segment of the SL banking sector. When compared to regional banking operations, SL banks remained relatively strong with lesser NPLs

Today's Columnists

Identifying traitors: I cannot wait until Dr. Padeniya presents his point scheme

Tuesday, 21 August 2018

Cause for excitement I am excited! A way of identifying and measuring a traitor is soon to be unveiled; by no less than the President of the GMOA! Hasn’t he also qualified in some department of neurology? All the more reason to justify my excitemen

The evils of translocating wild elephants

Tuesday, 21 August 2018

The subject of translocating wild elephants has been a much-debated topic recently, after the Department of Wildlife Conservation (DWLC), acting on the orders of the Minster for Wildlife, wanted to move the only two wild elephants habituating the Sin

Singapore miracle – How SL could benefit from trade with Singapore

Monday, 20 August 2018

According to a media report released by President’s Media Division, a committee of experts has been appointed by the President to examine and report on ‘the practical impact and use of the proposed officer policy guidelines and recommendations on

High NPAs in SME sector: Who is responsible?

Monday, 20 August 2018

Non-Performing Assets (NPAs) of the banking sector have been increasing in the recent past. Gross NPA ratio reached about 3.3% as at end of May2018 recording an increase of about 0.8% over the past five months.

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