Financial Services

Banking excellence redefined: HNB clinches top spot in Business Today rankings

Views - 298 Wednesday, 26 February 2020 00:09

HNB Plc secured the top ranking in the prestigious ‘Business Today Top 30’, further consolidating a remarkable reputation for excellence and a legacy of innovation in the Sri Lankan banking industry.

Bond market yields broadly steady ahead of weekly bills auction

Views - 61 Wednesday, 26 February 2020 00:08

The secondary market bond yields remained mostly unchanged yesterday ahead of the weekly Treasury bill auction due today.

New Acting General Manager/CEO at NSB

Views - 2974 Wednesday, 26 February 2020 00:07

Mrs. Damitha Kumari Rathnayake yesterday assumed duties as the Acting General Manager/CEO of National Savings Bank. Mrs. Rathnayake is a well-known personality in the financial sector....

Global stocks sink further as virus fears weigh

Views - 27 Wednesday, 26 February 2020 00:05

Global stocks sank to their lowest levels in over two months on Tuesday, as relief from a sharp selloff the previous day on fears about the spreading coronavirus proved temporary.

Virus hits markets the way trade war didn’t

Views - 8 Wednesday, 26 February 2020 00:04

First came trade war, now a rapidly spreading global virus. It’s the latter that has investors more nervous. Monday saw the S&P 500 Index fall over 3%, while Treasury yields hit a record low. The anxiety is overdue, because the potential impact of

NDB Board gets new Treasury nominee

Views - 60 Wednesday, 26 February 2020 00:03

NDB Bank has announced the appointment of Hiransa Kaluthantri to the Board as a Non-Independent, Non-Executive Director with effect from 24 February.

Stocks down amidst foreign selling

Views - 36 Wednesday, 26 February 2020 00:02

The Bourse ended on a negative note today as the ASPI decreased by 1.14% or 66.37 points to close at 5,730.93 points, while the S&P SL20 Index also decreased by 1.44% or 39.91 points to close at 2,731.39, brokers said yesterday.

SC Securities makes case for investing in ‘Big Three Banks’

Views - 197 Wednesday, 26 February 2020 00:01

SC Securities Ltd. recently held a symposium where it made a compelling case for investing in the Big Three Banks. The SC Investor Symposium was attended by top institutional and high networth clients.

King Dollar rules the FX heap as virus threatens global growth

Views - 38 Tuesday, 25 February 2020 01:41

NEW YORK (Reuters): A powerful surge in the dollar threatens to magnify the pain for companies and nations already struggling with the economic fallout of the coronavirus. The US dollar index has jumped 3.5% this year, taking the greenback to its hig

People’s Leasing Company upgrades and relocates Trincomalee branch

Views - 19 Tuesday, 25 February 2020 01:39

People’s Leasing & Finance PLC (PLC) in a bid to cater to a greater volume of customers through an enhanced and hassle free customer service, upgraded and relocated its Trincomalee branch to a more spacious location. The relocated branch (No. 275,

Secondary market bond yields decrease marginally

Views - 63 Tuesday, 25 February 2020 01:31

By Wealth Trust Securities Secondary market bond yields decreased marginally at the start of a fresh trading week as considerable volumes were seen changing hands between foreign and local participants. Buying interest on the liquid maturities of 20

ADB’S new Country Director assumes office

Views - 28 Tuesday, 25 February 2020 01:30

The new Asian Development Bank (ADB) Country Director in Sri Lanka, Chen Chen, assumed office in Colombo yesterday. “I am honoured to assume the role of Country Director at ADB’s Sri Lanka Resident Mission. I have had the opportunity of managing

Colombo Bourse turns negative

Views - 37 Tuesday, 25 February 2020 01:28

The Colombo Bourse ended on a negative note as the ASPI decreased by 0.57% or 33.21 points while the S&P SL20 Index also decreased by 0.61% or 17.01 points. Acuity Stockbrokers said turnover decreased by 0.6% relative to last Thursday to amount to Rs

Galgamuwa Arthavida branch gets new location

Views - 12 Tuesday, 25 February 2020 01:28

Arthavida Intermediary Ltd. is a pioneer micro finance company which started in 1992 and now operating in 16 branches islandwide with an over 40,000 client base. Its Galgamuwa branch moved to modern and convenient locations on 31 January, thus comple

IIRC opens call for feedback as it revises International Integrated Reporting Framework

Views - 11 Tuesday, 25 February 2020 01:27

The International Integrated Reporting Council (IIRC) last week began the process of refreshing the International Integrated Reporting (IR) Framework, and calling for market feedback on specific themes that will inform the nature and direction of the

Dividend announcements by Companies

Views - 57 Tuesday, 25 February 2020 01:27

Commercial Bank of Ceylon (COMB) – Scrip dividend of 1 ordinary voting share for every 42.75 existing ordinary voting shares and 1 ordinary non-voting share for every existing 38.60 ordinary non-voting shares – Dates to be announced. Hatton Natio

Bond yields increase for third consecutive week

Views - 91 Monday, 24 February 2020 00:00

By Wealth Trust Securities The secondary bond market witnessed continued selling interest during the shortened trading week ending 20 February by both local and foreign investors, which led to yields increasing for a third consecutive week. Yields se

NDBIB wraps up 2019 with impressive Rs. 62 b in capital raisings

Views - 80 Monday, 24 February 2020 00:00

NDB Investment Bank (NDBIB) continued to execute milestone transactions in 2019, reiterating its position as the unrivalled leader in investment banking in the country recording approximately Rs. 62 billion in fund raisings. All business segments, na

Fitch affirms HNB Assurance, HNB General Insurance at IFS ‘A’; Outlook positive

Views - 40 Monday, 24 February 2020 00:00

Fitch Ratings has affirmed the National Insurer Financial Strength (IFS) ratings of Sri Lanka-based life insurer HNB Assurance PLC (HNBA) and its fully owned non-life subsidiary, HNB General Insurance Ltd. (HNBGI) at ‘A(lka)’. The Outlook on the

Arpico Insurance off to a strong start in 2020

Views - 48 Monday, 24 February 2020 00:00

With an ambitious plan to be a leading insurance provider in the country, Arpico Insurance PLC which is a fully-owned subsidiary of one of Sri Lanka’s largest blue-chip conglomerates, Richard Pieris & Company PLC, kick-started this year with six b

Sithumina appointed as Chief Operating Officer of HNB General Insurance

Views - 64 Monday, 24 February 2020 00:00

HNB General Insurance Ltd. (HNBGI), the fully-owned subsidiary of HNB Assurance PLC (HNBA) announced the appointment of Sithumina Jayasundara to the position of Chief Operating Officer recently. With over 23 years of experience in different capaciti

Trevin Fernandopulle joins Continental Insurance Board

Views - 95 Monday, 24 February 2020 00:00

Professional banker and business leader, Trevin Fernandopulle, has been appointed Independent Non-Executive Director at Sri Lanka’s fastest growing insurer, Continental Insurance Lanka Ltd. Fernandopulle brings with him 42 years of executive experi

Ceylinco General Insurance announces excellent results for 2019 with premium income of Rs. 19.8 b

Views - 31 Monday, 24 February 2020 00:00

Accomplishing yet another exceptional year, Sri Lanka’s insurance giant, Ceylinco General Insurance Ltd., posted a robust financial performance for the year ended 31 December 2019. Pursuant to its outstanding performance, the Company successfully r

Envoy in Seoul meets Korea’s largest commercial bank to stir interest in Sri Lanka

Views - 56 Friday, 21 February 2020 00:00

The Ambassador of Sri Lanka to the Republic of Korea Dr. A. Saj U. Mendis called on the Co-Chief Executive Officer (CEO) and Chief Global Strategy Officer of KB Financial Group of Kookmin Bank, Cho Nam Hoon, recently, at the Corporate Head Office in

Slowing virus, China stimulus hopes support stocks, yen nurses losses

Views - 21 Friday, 21 February 2020 00:00

SINGAPORE (Reuters): Asian stocks edged up on Thursday, supported by a fall in coronavirus cases and expectations of more Chinese stimulus to offset the economic impact of the epidemic, while the Japanese yen nursed heavy losses after suffering its s

Fitch affirms HNB Finance at ‘A(lka)’; Outlook Stable

Views - 31 Friday, 21 February 2020 00:00

Fitch Ratings Lanka has affirmed HNB Finance Ltd.’s (HFL) National Long-term Rating at ‘A(lka)’. The Outlook is Stable. The agency has also affirmed the National Long-Term Rating on HFL’s subordinated debentures at ‘BBB+(lka)’. Key rat

Asian shares inch higher, euro teeters on weak economic outlook

Views - 32 Thursday, 20 February 2020 00:43

TOKYO (Reuters): Asian shares and US stock futures edged cautiously higher on Wednesday as investors tried to shake off worries about the coronavirus epidemic following a slight decline in the number of new cases. MSCI’s broadest index of Asia-Paci

HNB Finance relocates Ja-Ela and Negombo branches with latest gold loan facility

Views - 37 Thursday, 20 February 2020 00:42

Cementing its presence in the region and in response to increasing customer demands, HNB Finance has now relocated its Ja-Ela and Negombo branches which are at 59 A, Negombo Road, Ja-Ela and 58, St. Joseph’s St., Negombo respectively. These branche

Amana Bank Children’s Savings Gift Fiesta is back

Views - 36 Thursday, 20 February 2020 00:40

Owing to the resounding success and overwhelming customer response it has had in the previous years, Amãna Bank has once again introduced its highly rewarding Children’s Savings Grow Your Balance Gift Fiesta for the year 2020. The promotion which

AIA customers continue to enjoy luxury trips overseas with AIA Real Rewards

Views - 20 Thursday, 20 February 2020 00:39

One hundred and twenty lucky winners won overseas holiday packages for two in 2019 from AIA’s Real Rewards program. Initiated in 2014, the program offers more benefits to the customer, while placing AIA even higher on the scale of superlative custo

Today's Columnists

Economy vs. environment – What you see in the mirror

Wednesday, 26 February 2020

Do we buy organic vegetables? Or are we cost conscious and buy the regular vegetables? Would we rather live in United States or United Kingdom which have higher air pollution levels, or would we live in Myanmar or....

Seven Kartajaya mantras for Sri Lankan marketers

Wednesday, 26 February 2020

Hermawan Kartajaya is the former President of the World Marketing Association and one of the top 50 marketing gurus who has shaped the world of marketing. His insight has made many companies change their business strategies....

When the saints go masquerading in

Tuesday, 25 February 2020

So that saintly MP has thrown a spanner in government’s works again. The pious member lashed out against a battery of citizens from journalists and lawyers to members of his own estate. Last week, much of his grievance was about the silence of the

So Sri Lanka; more like, so where are all the women in the hotel industry?

Tuesday, 25 February 2020

The tourism industry is a key service export of Sri Lanka. It is currently the third-largest export earner after foreign worker remittances and textiles and apparel and brought in $ 4.4 billion in 2018 alone, equivalent to 4.9% of the country’s GDP

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