Financial Services

Sarvodaya Development Finance shows impressive results in 1st half of FY 2017/18

Views - 81 Tuesday, 14 November 2017 00:00

Sarvodaya Development Finance, the pioneer in microfinance in Sri Lanka, has shown significant growth based on the six months financial results ending 30 September

People’s Bank installs ATM at Ella Railway Station

Views - 43 Tuesday, 14 November 2017 00:00

People’s Bank recently unveiled an ATM at Ella Railway Station. The ATM provides the convenience of withdrawing cash 24 hours a day, 365 days a year.

‘Matara City Branch’ DFCC Bank’s 100th branch opens at Kotuwegoda

Views - 48 Tuesday, 14 November 2017 00:00

The ‘Matara City Branch’ which is the DFCC Bank’s 100th branch and second branch in Matara was opened by Director and CEO Lakshman Silva at Kotuwegoda Matara last morning(13th).

LB Finance reports solid 1H results with 29% growth in income and profit of Rs. 3.4b before taxes

Views - 51 Tuesday, 14 November 2017 00:00

LB Finance PLC one of the leading Non-Banking Financial Institutions (NBFI) in the country, has demonstrated strong resilience amidst an extremely challenging first half in the current financial year to post a solid 29%

Ceybank to launch High Yield Fund today

Views - 76 Tuesday, 14 November 2017 00:00

Ceybank Asset Management Ltd. is launching its latest money market fund, Ceybank High Yield Fund, today, 14 November.

Secondary bond market yields increase on moderate volumes

Views - 48 Tuesday, 14 November 2017 00:00

The secondary market bond yields were seen increasing yesterday on the back of moderate trading.

Rupee steady; market awaits clarity on some budget policies

Views - 44 Tuesday, 14 November 2017 00:00

Reuters: The rupee closed little changed on Monday as dollar conversions by exporters were offset by importer demand for the US currency and investors waited for more clarity on some budget policies announced last week,

Bourse extends run of declines, hit near 6-week closing low

Views - 30 Tuesday, 14 November 2017 00:00

Reuters: Shares fell for a third straight session on Monday to their lowest close in near six weeks, weighed down by declines in telecom and banking stocks after the island nation targeted both cash-rich sectors in its 2018 Budget

Preference to staff, customers when listing banks on CSE

Views - 47 Monday, 13 November 2017 00:00

Senior Advisor to the Finance Ministry Mano Tittawella on Friday revealed that when listing small stake of state banks on the Colombo Stock Exchange, preference will be given to employees and customers.

Foreign investors turn net buyers of Asia stocks for first time since June

Views - 19 Monday, 13 November 2017 00:00

Reuters: Foreign investors returned to Asian equities in October, following three consecutive months of retreat, lured back by the region’s strong economic growth and a rise in corporate earnings.

Colombo Stock Brokers Association Chief has his say on 2018 Budget

Views - 75 Monday, 13 November 2017 00:00

The Budget has proposed far-reaching reforms to protect the environment, liberalise trade and foreign ownership to unlock Sri Lanka’s location advantage to attract more Foreign Direct Investment.

Downward trend in secondary market bond yields continue

Views - 33 Monday, 13 November 2017 00:00

The downward trend in secondary market bond and bill yields, witnessed during the previous week, continued during the week ending 10 November as well.

Commercial Bank wins dual honours at International Finance awards

Views - 11 Monday, 13 November 2017 00:00

The Commercial Bank of Ceylon has been honoured on the international stage with two more prestigious awards, being adjudged ‘Best Green Bank’ and ‘Best Private Bank’ in Sri Lanka by International Finance Magazine (IFM) of the UK, which is rea

Seylan Bank relocates Siyambalanduwa and Kottawa branches

Views - 19 Monday, 13 November 2017 00:00

Seylan Bank relocated its Siyamalanduwa and Kottawa branches to a more spacious and convenient location, to offer customers enhanced banking convenience.

MBSL crowned with International Europe Award for Quality 2017

Views - 22 Monday, 13 November 2017 00:00

Confirming the international quality standards of its offerings, Sri Lanka’s home grown financial services provider, Merchant Bank of Sri Lanka & Finance PLC (MBSL) won the prestigious International Europe Award for Quality 2017 at the Global Trade

Fairfirst Bancassurance partners learn from the best

Views - 28 Monday, 13 November 2017 00:00

Fairfirst Insurance Ltd. recently concluded a knowledge sharing workshop for two of their exclusive banking partners.

Union Bank strengthens network with new branch in Bandarawela

Views - 26 Monday, 13 November 2017 00:00

Union Bank extended its footprint in the Uva Province with the opening of its 67th branch at No. 348, Badulla Road, Bandarawela.

DFCC Bank launches ‘Premier Go,’ first-ever premier banking interactive app

Views - 55 Monday, 13 November 2017 00:00

DFCC Bank PLC launched DFCC Premier Go,’ the first-ever premier banking app in the industry, exclusively for its Premier customers, at a special launch event held on 2 November at DFCC Bank’s Executive Lounge.

Secondary bond market yields hold steady

Views - 44 Friday, 10 November 2017 00:00

Secondary bond market yields remained mostly unchanged yesterday as activity moderated.

Bourse slips ahead of tax raising budget

Views - 46 Friday, 10 November 2017 00:00

Reuters - Sri Lankan shares closed lower on Thursday before the presentation of the national budget, where the South Asian island nation imposed new taxes on motor vehicles, telecoms, banks and liquor in a bid to boost revenues.

Rupee down on importer dollar demand ahead of Budget

Views - 22 Friday, 10 November 2017 00:00

Reuters: The rupee ended weaker on Thursday due to heavy importer dollar demand and the purchase of US currency by banks ahead of the national budget presentation, dealers said.

India touts bank note ban, opposition fumes and Nepal short-changed

Views - 12 Friday, 10 November 2017 00:00

New Delhi/Mumbai (Reuters): Indian officials extolled last year’s shock ban on high denomination bank notes as a success on Wednesday, while opponents staged protests and Nepal said its citizens were still stuck with billions of

PayPal starts payment services in India

Views - 25 Friday, 10 November 2017 00:00

Reuters: Payment processor PayPal Holdings Inc on Wednesday launched domestic operations in India, a market already dominated by China’s Alibaba-backed PayTM, the country’s leading digital payments firm.

Fund giant Templeton warns Libor doubts creating ‘alarming’ practices

Views - 15 Friday, 10 November 2017 00:00

London (Reuters): Uncertainty over the future of the Libor global interest rate benchmark is seeing some debt sellers make “alarming” changes to their financial contracts, Franklin Templeton, one of the world’s largest asset

Bitcoin hits record high after developers suspend plans to ‘fork’ currency

Views - 22 Friday, 10 November 2017 00:00

New York/London (Reuters): Bitcoin hit a record high just shy of $8,000 on Wednesday after a coalition of

Asia stocks stay near highs

Views - 11 Friday, 10 November 2017 00:00

Tokyo (Reuters): Asia stocks stayed closed to a decade-long peak on Thursday following another record-breaking day on Wall Street, though Japan’s Nikkei slid back from a 26-year high in volatile trading, hit by profit-taking.

Primary market rates continue to decrease ahead of budget reading

Views - 70 Thursday, 9 November 2017 00:52

The weighted averages at yesterday’s weekly Treasury bill auction were seen continuing its decreasing trend for a second consecutive week with the bids to offer ratio increasing to an eight weeks high of 3.68:1 as well.

Amãna Bank’s Q3 2017 PBT triples

Views - 430 Thursday, 9 November 2017 00:00

Having recently doubled its capital to over Rs. 10 billion, Amãna Bank reinforced the confidence of its shareholders by tripling its Q3 2017 Profit Before Tax to reach Rs. 186.1 million as against Rs. 62.9 million of Q3 2016. For the

BOC wins ADB’s ‘Leading Partner Bank in Sri Lanka for Trade Services’

Views - 36 Thursday, 9 November 2017 00:00

The No. 1 trade services provider in Sri Lanka, the Bank of Ceylon has been awarded the title of ‘Leading Partner Bank in Sri Lanka’ with the Asian Development Bank under the ‘Trade Finance Program – TFP’ at the ADB’s TFP Awards held in l

NDB’s Shareek wins two awards at IFFSA

Views - 28 Thursday, 9 November 2017 00:00

NDB – Shareek, the Islamic banking unit of National Development Bank PLC (NDB), won two prestigious category awards at the Islamic Finance Forum South Asia held at Ramanda Hotel, Colombo recently. The bank won a

Today's Columnists

Constitutional reform – A reply to Dr. Wijeyadasa Rajapaksa

Wednesday, 22 November 2017

The lengthy article by Dr. Wijeyadasa Rajapakshe PC on constitutional reform published in the newspapers recently appears to contain several errors of fact and of law

Ranil’s reluctant tryst with truth

Wednesday, 22 November 2017

Twenty years ago in 1998, Dr. Jayadeva Uyangoda writing in the periodical ‘Frontline’ traced our peculiar path of progress in the 50 years of independence

Omni-Channel Synchroniser for banks and financial institutions: An vision to simplify banking

Wednesday, 22 November 2017

Today, as a society we are noticing a historical shift from cash-based transactions to digitisation of financial transactions, and from the use of traditional banking channels to e-channels.

Extending the net of AML/CFT: The need for public awareness

Tuesday, 21 November 2017

By Press Notice, the Central Bank of Sri Lanka (CBSL) through its Financial Intelligence Unit(FIU), has drawn the attention of the public to “Extraordinary Gazette Notification No. 2015/56 dated April 21, 2017 prescribing

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