Financial Services

Seylan Bank records Rs. 3.1 b PAT in 3Q 2018

Views - 44 Tuesday, 30 October 2018 01:12

Seylan Bank closed the nine months ending 30 September 2018 with a post-tax profit of Rs. 3,138 million, a moderate growth of 4.5 % over the corresponding period last year in the backdrop of challenging market conditions. The bank increased its Net


Bond market yields increase during the week

Views - 80 Monday, 29 October 2018 01:25

By Wealth Trust Securities The secondary bond market remained active during the shortened trading week ending 26 October, with yields continuing its decreasing trend during the early part of the week and increasing towards the latter part, to reflect


Nations Trust Bank welcomes new Board Member

Views - 326 Monday, 29 October 2018 01:24

Nations Trust Bank PLC has announced the appointment of Savanth Sebastian to its Board of Directors with effect from 23 October 2018. Sebastian has a wealth of experience in economics, financial services and the investment business, and currently als


Damien Fernando returns to HNB Board

Views - 100 Monday, 29 October 2018 01:24

Damien Fernando has returned to the Board of HNB as a Non-Executive Non Independent Director, with effect from 25 October. He served the HNB Board between April 2012 and March 2017 as a Non-Executive Director. In his career, Damien has held Board an


RDB clarifies revision of rating outlook to negative

Views - 29 Monday, 29 October 2018 01:23

ICRA Lanka Ltd. has completed the Rating Review for 2018 for the Regional Development Bank, reaffirming the issuer rating at ‘A’ while revising the outlook to negative from stable. Further, the rating company has also reaffirmed the issuer ratin


Inter-Bank Trade Finance Quiz 2018: Bank of Ceylon ‘A’ Champions

Views - 39 Monday, 29 October 2018 01:23

The Annual Inter-Bank Trade Finance Quiz and Social organised by the Trade Finance Association of Bankers was held on Saturday, 20 October at the Main Ballroom, Hotel Galadari with DFCC Bank Chairman Royle Jansz as the Chief Guest. Bank of Ceylon ‘


Janashakthi makes voluntary offer on Dunamis Capital

Views - 49 Monday, 29 October 2018 01:21

Janashakth Plc has announced its voluntary offer to shareholders of Dunamis Capital to buy the remaining 58.86% stake amounting to 72.4 million shares at Rs. 36.60 each. The move follows Janashakthi in September buying 38.3 million shares or 31.14%


‘Insurance gap’ threatens disaster-vulnerable poor nations: Lloyd’s

Views - 24 Monday, 29 October 2018 00:00

BARCELONA (Thomson Reuters Foundation) - D isaster-prone developing nations, including Bangladesh and Indonesia, are exposed to crippling losses when storms, floods or earthquakes strike because they suffer from a dangerous lack of insurance, industr


SLII inducts distinguished members to Insurance Hall of Fame

Views - 21 Monday, 29 October 2018 00:00

At the annual Sri Lanka International Insurance Congress held on 15 October at the Cinnamon Grand, Dr. Wickrama Weerasooriya, Indrani Sugathadasa and Nimmi De A Guneratne were inducted to the Insurance Hall of Fame by the Sri Lanka Insurance Institut


Australian regulators order insurers to release customer disputes data

Views - 18 Monday, 29 October 2018 00:00

SYDNEY (Reuters) - Australia’s life insurers will be required to publish customer dispute numbers every six months, top financial regulators said last week, as a misconduct inquiry threatens other reforms that could hurt industry profitability. For


Sri Lanka Insurance partners Ath Pavura

Views - 55 Monday, 29 October 2018 00:00

Sri Lanka Insurance has partnered with Ath Pavura, Sri Lanka’s first television show to promote social entrepreneurship and impact investment, with the aim of encouraging and strengthening the local SME sector. This program unfolds as a TV show exp


Sri Lanka’s first Per Day Motor Insurance from Rs. 125 per day by Insureme.lk

Views - 80 Monday, 29 October 2018 00:00

Insureme.lk, Sri Lanka’s first online platform for comparing insurance policies, launches Per Day Motor Insurance in partnership with Dialog Axiata, Sri Lanka’s premier connectivity provider, and licensed insurance providers Fairfirst Insurance L


Abans Finance on a journey of digital transformation

Views - 94 Friday, 26 October 2018 00:01

Abans Finance PLC, a fully-owned subsidiary of the prestigious Abans Group recently won many accolades for projects undertaken and successfully completed under its digital transformation drive. Th


Bond yields mostly unchanged in moderate trade

Views - 84 Friday, 26 October 2018 00:00

Secondary bond market yields were seen closing the day mostly unchanged subsequent to dipping in morning hours of trading as activity moderated yesterday. The liquid maturities of 01


Pan Asia Bank recognised as ‘Fastest growing Master Credit Card Portfolio in Sri Lanka 2017’

Views - 52 Friday, 26 October 2018 00:00

Pan Asia Bank, the fastest growing commercial bank in Sri Lanka was also recently recognised as the ‘Fastest growing Master Credit Card Portfolio in Sri Lanka – 2017’ by MasterCard International. The Bank currently offers three types of MasterC


LB Finance strengthens presence in Northern Province expanding to Mullaitivu

Views - 61 Friday, 26 October 2018 00:00

LB Finance, Sri Lanka’s trail-blazer in innovative financial services recently opened a new branch in Mullaitivu to provide a better and convenient financial service to the community in the area both business and retail. The Mullaitivu branch w


Multiple wins for Amãna Takaful at IFFSA Awards

Views - 26 Friday, 26 October 2018 00:00

At the Islamic Finance Forum of South Asia (IFFSA) Awards held recently, Amãna Takaful PLC (ATL) struck Gold for the ‘Takaful Entity of the Year’ category, while its off-shore subsidiary in the Maldives, Amana Takaful Maldives won Silver. At thi


Union Bank Group crosses Rs. 1 billion in profit before taxes, bank up by 37%

Views - 144 Friday, 26 October 2018 00:00

Union Bank posted consistent and strong growth in core banking operations excluding the results from capital gains and newly launched credit card operations by 79% during the period under review, amidst the challenging ma


Yet another milestone by Senaratne Insurance Brokers

Views - 41 Thursday, 25 October 2018 00:00

Recently Senaratne’s marked another niche in the insurance landscape, as the oldest insurance broker, carving out 39 years of unblemished professional excellence and integrity, leading to their appointment as a ‘Corporate Chartered Insurance Brok


Strategic Insurance risk advice rescues at-risk victims as it transforms corporate life insurance

Views - 23 Thursday, 25 October 2018 00:00

Lotus Hydro PLC, a specialist in clean energy, teamed up with insurance trail blazer Strategic Insurance Brokers (Sib) to provide an unprecedented life, plus health insurance and critical illness cover to Lotus Hydro employees. In short, it is life,


Sri Lanka Insurance opens 152nd branch at Ruwanwella

Views - 17 Thursday, 25 October 2018 00:00

Sri Lanka Insurance unveiled its latest branch in Ruwanwella on 15 October, bringing its expertise to the residents as a part of its expansion to widen its geographical footprint across the island. The newly opened branch is located at No. 197, Awiss


Fairfirst Insurance partners with DFCC Bank

Views - 136 Thursday, 25 October 2018 00:00

Fairfirst Insurance recently signed a memorandum of understanding with DFCC Bank, as part of a special health insurance promotion initiative which will be facilitated by Reliance Insurance brokers. As part of this, an exclusive health coverage worth


Ceylinco Life sends 4 delegates to LAMP Asia 2018 in Taiwan

Views - 11 Thursday, 25 October 2018 00:00

Sri Lanka’s life insurance market leader, Ceylinco Life, was represented by four Senior Assistant General Managers responsible for Business Development at the 2018 Leadership and Management Program (LAMP) Asia, conducted by GAMA International in Ta


AIA Insurance reminds entrepreneurs to keep an eye on their health

Views - 15 Thursday, 25 October 2018 00:00

As part of an effort to help Sri Lankans live healthier, longer, better lives, AIA Insurance is currently conducting an activation, targeting business and shop owners, across the country. The main objective of the activation is to remind entrepreneur


HNB partners with D L & F De Saram to offer exclusive access to legal services to Club customers

Views - 46 Thursday, 25 October 2018 00:00

Sri Lanka’s largest retail sector bank, HNB PLC, announced a pioneering new partnership with one of the country’s oldest and most respected firms, D L & F De Saram, to offer HNB Club Members exclusive access to the highest quality professional le


Union Assurance strengthens strategic partnership with Union Bank to expand Bancassurance operations

Views - 32 Thursday, 25 October 2018 00:00

Union Assurance (UA) recently partnered with Union Bank for a preferred partnership in Bancassurance operations with the objective of strategically strengthening its Bancassurance channel and to provide life insurance solutions to the extensive custo


NDB’s Ithuru Karana Maga helps master the skill of saving

Views - 15 Thursday, 25 October 2018 00:00

Saving means preventing waste of a particular resource. Resources such as time, money, water, food and fuel all contribute towards the wellbeing of an individual, as well as the world we live in. Although preventing the waste of these resources shoul


MCB Bank declares open its relocated, upgraded Galle branch

Views - 11 Thursday, 25 October 2018 00:00

With the objective of providing an enhanced banking experience to its valued customers, MCB Bank recently relocated and declared open its newly upgraded Galle branch. The branch was initially opened in 2013 as the second outstation branch of MCB Sri


Seminar on ‘Currency Outlook and Forecast’

Views - 40 Thursday, 25 October 2018 00:00

With the intention of supporting the economic development of the country and emerging entrepreneurs Merchant Bank of Sri Lanka & Finance PLC (MBSL) initiated a program to carry out a series of seminars to educate the stakeholders and general public.


Weekly T - bill average yields decline for the first time in five weeks

Views - 44 Thursday, 25 October 2018 00:00

By Wealth Trust Securities The weighted average yields at the weekly primary bill auction were seen declining for the first time in five auctions on Tuesday, reversing an upward trend witnessed previously, with the 364 day maturity recording a decrea


Today's Columnists

Courting democracy; Housing disaster?

Thursday, 15 November 2018

A small step was taken by a sovereign court the day before yesterday. It was a giant leap for the supremacy of the Constitution over all three arms of government in a recently benighted Sri Lanka. As well as being the tangible proof of intra-governme


Sri Lanka’s Judiciary in its finest hour

Thursday, 15 November 2018

“We must never forget that the only real source of power we as judges can tap is the respect of the people” –Justice Thurgood Marshall


When scholars turn slayers of reason

Thursday, 15 November 2018

“… I think, that the intellectual is an individual endowed with a faculty of representing, embodying, articulating a message, a view, an attitude, philosophy or opinion to, as well as for, a public. And this role has an edge to it, and cannot be


A stable democracy is a prerequisite for the wellbeing of Sri Lankans

Thursday, 15 November 2018

In Sri Lanka, despite the complexity of overlapping policies, the slow pace in implementing economic policies has been of central concern in the past few years. The current political state in Sri Lanka poses a series of e


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