Financial Services

ISO certification for HNBA’s New Business and Claims Process

Views - 47 Thursday, 23 May 2019 02:41

The New Business Management Department and Life Claims Department of HNB Assurance PLC (HNBA) were certified with ISO 9001: 2015. Upon being independently audited, both New Business and Claims Departments excelled in the process of meeting required c

Do we hold too much cash?

Views - 91 Thursday, 23 May 2019 02:39

By Manpreet Gill After being desensitised for many years by virtually zero interest rates, one can suddenly earn a positive yield on cash again in many major currencies. While the rates may still not be terribly exciting – 12-month USD Libor yields

Compliance is key for 2019 – IFRS9 solution

Views - 125 Thursday, 23 May 2019 02:36

Fitch Ratings rates 16 of the local banks and 12 of them have disclosed their day-one impact of the new accounting standard which significantly increases the banks’ loan loss provisions. International Financial Reporting Standards (IFRS 9) or its

Stocks inch higher in thin trade; rupee weaker

Views - 50 Thursday, 23 May 2019 02:35

Reuters: Sri Lankan shares closed slightly higher yesterday, extending gains into a fourth session, but trading volume slumped to a near three-week low. Traders said the Easter Sunday bombings and aftermath violence weighed on investor sentiment. Mo

CDB’s pre-tax profit tops Rs. 2.7 b with 34% growth

Views - 101 Thursday, 23 May 2019 02:33

Citizens Development Business Finance PLC (CDB) reinforced its dominance as a disruptor in the financial intermediary business in Sri Lanka with its exceptional financial results for FY 2018/19, posting profit before taxes of Rs. 2.7 billion, an incr

364-day bill weighted average crashes to 64-week low

Views - 76 Thursday, 23 May 2019 02:29

The benchmark 364-day bill weighted average was seen dropping below the psychological level of 9% for the first time since 5 September 2018 at its weekly auction held yesterday. The drop of 28 basis points saw it registering a 64-week or over a 15-mo

Sri Lanka Insurance awarded most valuable General Insurance Brand by Brand Finance 2019

Views - 53 Thursday, 23 May 2019 02:27

Sri Lanka Insurance General Insurance category is a well-recognised and trusted brand. Having transformed itself into a dynamic and financially viable corporation many years ago, it is now on a quest to solidify its leadership position through even b

Seylan Tikiri ‘Avurudu Ganu-Denu’ ends on a high note

Views - 31 Wednesday, 22 May 2019 00:00

Seylan Tikiri, the most trusted minor savings account, celebrated the month of Sinhala and Tamil New Year with a thrilling promotion by offering Tikiri children the opportunity to grab their favourite gifts through the bank’s branch network. Condu

Two years on, FriMi from NTB continues to dominate digital banking sphere in Sri Lanka

Views - 1061 Wednesday, 22 May 2019 00:00

Convenience has always been synonymous with FriMi and in just a short span of two years, the first digital bank in Sri Lanka has completely changed the way banking and payments can be done. FriMi functions as a fully-fledged digital bank, mobile wall

Global stocks gain as US eases Huawei restrictions

Views - 66 Wednesday, 22 May 2019 00:00

LONDON (Reuters): Stock markets gained on Tuesday, with chipmakers and companies exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed last week on China’s Huawei. In Europe, the broader Euro STOXX

HDFC reports robust profit growth in 2019 Q1

Views - 67 Wednesday, 22 May 2019 00:00

HDFC Bank has reported robust profit growth in the first quarter of 2019 compared to the corresponding period in 2018, signalling a strong start to the financial year 2019. The Bank posted a profit before VAT, NBT and Debt Repayment Levy (DRL) of Rs.

Ceylinco Life makes strong start to 2019 with Q1 income of Rs. 7.2 billion

Views - 45 Wednesday, 22 May 2019 00:00

Steady growth of its life insurance business and strong investment gains have enabled Ceylinco Life to generate total income of Rs. 7.17 billion in the first quarter of 2019, achieving healthy growth of 10.7% over the corresponding three months of la

Bond market remains active as positive momentum continues

Views - 77 Wednesday, 22 May 2019 00:00

By Wealth Trust Securities The secondary bond market remained active yesterday with the liquid maturities of 15.03.23, 15.05.23, 15.03.24, 01.08.26 and 15.01.27 hitting lows of 10.00%, 10.10%, 10.05%, 10.30% and 10.36% respectively against its previo

Alawathugoda branch of People’s Bank at new premises

Views - 33 Tuesday, 21 May 2019 00:00

Alawathugoda branch of People’s Bank was opened recently at its new premises, on an auspicious time. The branch was moved to this new premise with the intention of making novel banking technologies and all their benefits more accessible for citizen

Union Assurance continues focus on sustainable growth

Views - 57 Tuesday, 21 May 2019 00:00

UA has reported Rs. 2.5 billion gross written premiums for the first quarter of 2019. This was 1% below the figure reported in the prior period, mainly due to decline in new business premiums as the company aligned its distribution channels to target

One year T-bill yield crashes

Views - 123 Tuesday, 21 May 2019 00:00

By Wealth Trust Securities The secondary bond market ending 17 May witnessed a week of volatility, with yields increasing during the beginning of the week on the back of renewed selling interest, and thereafter decreasing towards the latter part of t

CSE’s MoU with LSEG will immensely strengthen our debt market offering: Ray

Views - 64 Tuesday, 21 May 2019 00:00

London Stock Exchange Group (LSEG) recently announced the signing of a landmark Memorandum of Understanding (MoU) with the Colombo Stock Exchange (CSE) to facilitate further collaboration between the two Groups. The MoU will enable LSEG to support t

Tokenising securities to raise capital focusing on Sri Lankan upmarket real estate

Views - 303 Friday, 17 May 2019 00:00

Ambuli International, a consultancy firm focusing on the applications of blockchain, cloud computing, artificial intelligence and big data in the financial and other sectors, is currently exploring in Sri Lanka tokenisation of securities to raise cap

AIA Insurance’s Smart Wealth: Short term commitment, long term wealth creation

Views - 52 Friday, 17 May 2019 00:00

Wealth is important for many things in life. Be it educating your children, maintaining the desired lifestyle for you and your family or ensuring financial security at retirement. Protecting, managing and growing your wealth is key. That is why AIA I

Allianz first-quarter net profit rises, slightly beats estimates on lower claims

Views - 38 Friday, 17 May 2019 00:00

FRANKFURT (Reuters): German insurer Allianz SE on Tuesday posted a small rise in net profit in the first quarter from a year earlier, marginally ahead of expectations, and confirmed its targets for 2019. Results were helped by lower claims from natur

Kanrich Finance Chilaw branch commences gold loan services at new premises

Views - 31 Friday, 17 May 2019 00:00

With a prestigious history of 47 years and trusted excellence, backed by loyal customers who have been the source of their strength, Kanrich Finance Ltd. with the intention of delivering an advanced and highly efficient service to their trusted clien

DFCC Bank opens new branch in Minuwangoda

Views - 121 Friday, 17 May 2019 00:00

DFCC Bank opened its newest full-fledged branch in the heart of Minuwangoda, recently. Minuwangoda community can now enjoy the personal and commercial banking services extended by DFCC Bank, which has a solid reputation built over six decades of ach

Bond yields continue to tumble

Views - 85 Friday, 17 May 2019 00:00

By Wealth Trust Securities The buying interest across the yield curve, consisting of the maturities of two 2023’s (15.03.23 & 15.07.23), 15.03.24, 15.01.27, 01.09.28 and 01.05.29, led to its yields decreasing to intraday lows of 10.30%, 10.32%, 10.

Stocks edge up from near 7-year low on bargain hunting; rupee firmer

Views - 46 Friday, 17 May 2019 00:00

Reuters: Sri Lankan shares rose on Thursday, snapping their 10-session losing streak to recover from its lowest close in nearly seven years as investors bought beaten down shares. The rupee edged higher for the second session after four straight days

Trade war flare-up spurs biggest EM outflows in seven months: IIF

Views - 23 Friday, 17 May 2019 00:00

HONG KONG (Reuters): Emerging markets saw the heaviest capital flight since last October in recent weeks as trade tensions between China and the United States escalated, the Institute of International Finance (IIF) said in a report on Wednesday. US P

Asian shares fall after US blacklists China’s Huawei

Views - 31 Friday, 17 May 2019 00:00

TOKYO (Reuters): Asian shares fell on Thursday after the United States hit Chinese telecoms giant Huawei with severe sanctions, threatening to further strain Sino-US trade ties. MSCI’s broadest index of Asia-Pacific shares outside Japan slid 0.2%,

NDB conducts Investor Webinar on Q1 Results 2019

Views - 64 Friday, 17 May 2019 00:00

National Development Bank PLC released its financial results for the first quarter ended 31 March 2019 [Q1 2019], together with a detailed performance commentary on the results to the Colombo Stock Exchange on 14 May. The bank recorded a pre-tax pro

Cargills Bank appoints Darshana Ratnayake as Chief Commercial Officer

Views - 88 Friday, 17 May 2019 00:00

Cargills Bank announced the appointment of Darshana Ratnayake as its Chief Commercial Officer (CCO) with effect from May 2019. Ratnayake is a veteran banker with over 30 years of experience in banking and financial services, both locally and oversea

Sampath Bank gets first ever female deputy chairman

Views - 120 Friday, 17 May 2019 00:00

Saumya Amarasekera has become the first female to be appointed as the Deputy Chairperson of Sampath Bank Plc. The appointment is effective 15 May. She was originally appointed to Sampath Bank Plc Board in June 2012 as a Non Independent Non-Executive

Build a stable future in USD with revolutionary Foreign Currency Investment Plan from NTB

Views - 133 Thursday, 16 May 2019 00:00

For the first time in Sri Lanka it is now possible to plan your financial future in a stable foreign currency with Nations Trust Bank’s newly introduced Foreign Currency Investment Plan! This new investment plan allows customers to save and invest

Today's Columnists

Implementing SC Orders

Wednesday, 26 June 2019

The Supreme Court on 18 April has ordered six Ministries, their Secretaries and three Government authorities to take immediate several effective measures to be enforced in the design and construction of all parts of new buildings and services the pub

Need for an education revolution: Future of our kids and the nation is at risk – Part I

Wednesday, 26 June 2019

It is said that a country is only good as her people. A country belongs to her people. In a democratic country, people elect the leaders to manage the country on their behalf. Hence, to be hailed as a progressive country, it is paramount for a countr

Universalism versus tribalism

Wednesday, 26 June 2019

The most venerable Warakagoda Sri Gnanarathana Thero Mahanayake of the Asgiriya chapter has announced that his recent remarks, have been misconstrued and distorted. The authenticity of recorded information in cyber space is an inconvenient truth of t

A sermon on stoning

Tuesday, 25 June 2019

It is generally assumed we have passed the Stone Age, the Bronze Age, the Iron Age, the Industrial Age, and the Space Age.After a breath-taking dive in to the Digital Age, we are well on our way to the Age of Automation and Artificial Intelligence. N

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