Financial Services

Fortunaglobal revolutionising Sri Lankan FinTech with customer centric innovation

Views - 54 Tuesday, 20 August 2019 00:05

Pioneering a wave of digital banking solutions in Sri Lanka, Fortunaglobal has firmly entrenched its credentials as the leading FinTech with its Affluence Digital Banking Suite and other digital solutions that promote financial inclusion. Fortunaglo


Kanishka appointed as an adviser to FASL

Views - 850 Tuesday, 20 August 2019 00:05

Kanishka Weeramunda was recently appointed as an adviser to the Fintech Association of Sri Lanka (FASL). Holding more than 18 years of high level experience in the ICT industry, Weeramunda is the Founder/CEO of PayMedia Ltd., a fintech company from S


ComBank declared Sri Lanka’s Most Respected Bank for 15th year in a row

Views - 33 Tuesday, 20 August 2019 00:04

The Commercial Bank of Ceylon has been ranked the Most Respected Bank in Sri Lanka for the 15th consecutive year and as the fourth Most Respected corporate entity in the country overall, in the 2019 ‘Most Respected Entities in Sri Lanka’ rankings


5-year bond yield hits 10% for first time in almost 2 months

Views - 123 Tuesday, 20 August 2019 00:01

By Wealth Trust Securities The upward momentum in secondary market bond yields continued, recording its fourth consecutive day of increases on the back of continued selling interest by both local and foreign participants. Interestingly, the market f


NDB paves financial journey for 40 years and beyond

Views - 48 Tuesday, 20 August 2019 00:00

NDB Bank celebrates its 40th year anniversary, marking four decades of unparalleled commitment and innovation, growing from roots of development within the Bank to developing individuals, families, businesses and the society. Established in 1979 as t


Nihal Fonseka joins the ranks of the global financial elite

Views - 167 Tuesday, 20 August 2019 00:00

Nihal Fonseka, President of CISI Sri Lanka’s National Advisory Council (NAC), has been awarded an Honorary Fellowship by global financial services professional body the CISI. Honorary Fellowships are awarded by the CISI (Chartered Institute for Sec


NDB expands physical and digital footprint across the island

Views - 83 Monday, 19 August 2019 00:36

NDB has taken considerable strides in a bid to support and encourage the businesses and entrepreneurial efforts of its people through a network of 111 branches around the island through four decades of excellence. With customised SME financing facili


Pan Asia ‘Salary Saver Account’ offers best benefits for salaried employees

Views - 73 Monday, 19 August 2019 00:33

Committed to helping customers stretch their hard-earned money to the maximum possible extent and receive optimum benefits, Pan Asia Bank’s Salary Saver was recently re-launched with a bundle of value additions for salaried professionals. According


Upward parallel shift of yield curve

Views - 111 Monday, 19 August 2019 00:33

The secondary bond market witnessed renewed selling interest by both foreign and local participants during the shortened trading week ending 16 August, which led to yields increasing across the yield curve. The increase in the benchmark 364-day bill


Nations Trust Bank American Express presents Automated Bill Settlement Facility

Views - 59 Monday, 19 August 2019 00:32

If you are still paying bills yourself, then you are wasting time. Simply sign up for Automated Bill Settlement facility with Nations Trust Bank American Express and have all your bills settled automatically. It’s simple, convenient and totally ha


DFCC Bank for everyone

Views - 43 Monday, 19 August 2019 00:32

Backed by over 60 years of expertise in development banking, DFCC Bank is a full service, dynamic commercial banking institution. Evolving with the times to meet the changing needs of its esteemed clientele, DFCC Bank aims to reach one million custom


Fitch rates Senkadagala Finance’s Rs. 1.75 b debenture final ’BBB’

Views - 52 Monday, 19 August 2019 00:31

Fitch Ratings Lanka has assigned Senkadagala Finance PLC’s (Senka, BBB+ (lka)/Stable) subordinated unsecured debentures a final National Long-Term Rating of ‘BBB (lka)’. The issuance totals Rs. 1.75 billion, with the debentures to mature in fiv


Ceylinco General Insurance unveils affordable cover for serious illnesses

Views - 44 Monday, 19 August 2019 00:30

Announcing yet another unique benefit for all Sri Lankans, Ceylinco General Insurance is offering a cover of up to Rs. 500,000 per annum that will reimburse medical costs incurred in the treatment of diagnosed serious illnesses, including heart disea


HSBC opens Two Union Square

Views - 138 Monday, 19 August 2019 00:28

Two Union Square was declared open by HSBC Group Managing Director and Group Chief Operating Officer Andy Maguire. He was joined by Sri Lanka and Maldives CEO Mark Prothero, Sri Lanka and Maldives COO Kanchana Hewavitharana, other members of the HSBC


BOC introduces BOC SmartPay-QR based payment app under LANKAQR

Views - 147 Monday, 19 August 2019 00:27

Bank of Ceylon (BOC) launched BOC SmartPay- QR (quick response) code based payment solution offered to its valued customers which will be the latest addition to the digital product range of the bank. This will be a key milestone to support bank’s


SLIC introduces ‘Divisavi’, an affordable protection plan for your loved ones

Views - 45 Monday, 19 August 2019 00:24

The pioneer of insurance industry, Sri Lanka Insurance (SLIC) recently launched their newest life insurance plan ‘Divisavi’, an insurance policy which provides complete financial protection for the loved ones of the policyholder at a very afforda


Fairfirst pioneers Mobile Screen Insurance in Sri Lanka

Views - 80 Friday, 16 August 2019 00:00

For the first time in Sri Lanka, Fairfirst Insurance is offering Mobile Screen Insurance to protect your shiny phone surface from an accidental cracked screen or liquid damage. “As an empathetic insurer, we understand the rock-solid relationship e


Prudential to split by year-end

Views - 38 Friday, 16 August 2019 00:00

LONDON (REUTERS): Britain’s biggest insurer Prudential will complete a planned break-up of the company by the end of the year, with its UK-focused fund and insurance business set to list as M&G Plc. The Asia and US-focused rump of the company will


Allianz Lanka lauds stellar employee performance at Allianz Annual Awards 2019

Views - 46 Friday, 16 August 2019 00:00

Sri Lanka’s premier insurer, Allianz Lanka, recently hosted this year’s iteration of its much-anticipated Allianz Annual Awards recently. The grand event unfolded through the night at the Eagles’ Lakeside Banquet and Convention Hall, Attidiya.


HNB Assurance launches PrivilegedLife

Views - 84 Friday, 16 August 2019 00:00

A promising lifestyle encompasses of key essentials such as protection, health, retirement and savings. Once these four essentials in life are met, life’s journey becomes a truly privileged one. With this in mind, HNB Assurance PLC (HNBA) announced


Nations Trust Bank records Rs. 1.4 b in post-tax profits

Views - 117 Friday, 16 August 2019 00:00

Volatile economic conditions which prevailed in the country and affected many key economic sectors since the second half of 2018, continued into 2019 as well, impacting the financial performance of many businesses. Amidst the rising NPLs, increased


Pan Asia Bank reports Rs. 753 m PAT in 1H amid challenging conditions

Views - 55 Friday, 16 August 2019 00:00

The Pan Asia Banking Corporation PLC reported Rs. 753.7 million in Profit After Tax for the six months ended 30 June 2019 (1H’19) as the bank ploughed through a period mired with multiple challenges. In the quarter ended in 30 June 2019 (2Q’19),


CB extends suspension on Pan Asia Bank primary dealer unit

Views - 81 Friday, 16 August 2019 00:00

The Central Bank said yesterday that it has decided to extend the existing suspension of the primary dealer activities of Pan Asia Bank for another six months. The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the Regulation


Shares end lower on profit-taking; rupee weakens

Views - 52 Friday, 16 August 2019 00:00

Reuters: Sri Lankan shares closed weaker on Thursday as investors locked in profits after the recent rally in financial and industrial stocks, while the rupee edged down on importer dollar demand. The benchmark stock index ended down 0.54% at 5,917.


Secondary market bond yields continue to increase

Views - 66 Friday, 16 August 2019 00:00

The secondary market bond yields were seen increasing further yesterday, mainly on the short end to the belly end of the yield curve on the back of selling interest. The yields on the liquid maturities of 01.08.21, 2023’s (15.05.23 & 15.12.23), 202


364 day bill weighted average increases for first time in 25 weeks

Views - 94 Thursday, 15 August 2019 00:00

By Wealth Trust Securities The 364 day bill weighted average was seen increasing for the first time in 25 weeks at its weekly Treasury bill auction conducted on Monday due to Wednesday been a holiday, recording a 6 basis point increase to 8.17%. This


HNB introduces SME Equity funding platform

Views - 335 Thursday, 15 August 2019 00:00

Sri Lanka’s most SME-friendly bank, HNB PLC announced a unique partnership with Tribefunds Ltd., an equity funding platform that links local SMEs and start-ups with local and global investors in order to channel much-needed investment into the sect


Standard Chartered partners Sri Lanka Economic Summit for 3rd consecutive year

Views - 49 Thursday, 15 August 2019 00:00

The Standard Chartered Bank has announced its partnership with the Ceylon Chamber of Commerce as the Platinum Sponsor of the Sri Lanka Economic Summit 2019. Titled ‘Recalibrating Sri Lanka’s Economic Trajectory Towards 2025’, the country’s f


Arpico Finance Company PLC partners mCash to offer digitalised payments

Views - 46 Thursday, 15 August 2019 00:00

The revolutionary mobile money platform, mCash, which is transforming the country’s electronic payments landscape, has partnered with Arpico Finance PLC to offer customers the facility to make payments via mCash. As a result of this partnership, Ar


ComBank launches 3rd ‘Bank-on-Wheels’ operation

Views - 42 Thursday, 15 August 2019 00:00

The Commercial Bank of Ceylon recently deployed its third ‘Bank-on-Wheels’ unit – a modified and branded vehicle designed to provide basic over-the-counter banking facilities to customers living outside city limits in the Uva-Sabaragamuwa regio


Today's Columnists

State of the economy of Sri Lanka

Saturday, 21 September 2019

I am not an economist nor do I profess to be an economic analyst. The views expressed in this presentation are those of a layman who has always been interested in the economic progress of Sri Lanka.


Premadasa, Père et Fils

Saturday, 21 September 2019

We are what time, circumstances and history has made of us. We are trapped in history. At age 77, I refuse to trap history in my mind. This essay is an obligation to history. Although J.R. Jayewardene introduced ‘Executive Presidentialism’, coer


Economy, business community and the Prime Minister

Friday, 20 September 2019

The speech made by Prime Minister Ranil Wickremesinghe as the Chief Guest of the Sri Lanka Economic Summit 2019 deserves very careful consideration by the country due to several reasons. This will no doubt be his last speech on economic policy to be


Sri Lanka needs to invest more on soft infrastructure

Friday, 20 September 2019

Developing countries like Sri Lanka will have to prepare for further downside risks in 2020 with the growing debt problems and the growth problems in Europe and the slowdown in Asia. Slower growth is already visible in weakening global trade and comm


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