Financial Services

Bond yields decrease marginally

Views - 66 Friday, 17 January 2020 00:00

By Wealth Trust Securities The secondary bond market yields were seen decreasing marginally yesterday across the yield curve. Yields on the liquid maturities of 2023’s (i.e. 15.07.23, 01.09.23 & 15.12.23) and 2024’s (i.e.15.06.24 & 15.09.24) decr

Former Inland Revenue Chief appointed HDFC Bank Chairperson

Views - 71 Friday, 17 January 2020 00:00

Tax policy specialist, lawyer and former Inland Revenue Chief R.M.R.W. Manchanayake has been appointed Chairperson of HDFC Bank by the Finance Ministry. The appointment will be subject to the receipt of regulatory approval from the Central Bank of S

Vish appointed to Softlogic Life Board

Views - 73 Friday, 17 January 2020 00:00

Business leader Vish Govindasamay has been appointed to the Board of Softlogic Life Insurance as an Independent Non-Executive Director subject to approval of the Insurance Regulatory Commission. Govindasamy is the Group Managing Director of Sunshine

UPI partners CH17 Loyalty to provide great benefits to CH17 UnionPay Payment Card holders

Views - 25 Friday, 17 January 2020 00:00

UnionPay International (UPI) has partnered with CH17 Loyalty (CH17) to manage and promote hybrid loyalty payment schemes in Sri Lanka, focusing on some of the most dynamic sectors that contribute towards economic growth of the country. Under this agr

ComBank gives credit card holders 2 million reasons to switch to e-statements

Views - 46 Friday, 17 January 2020 00:00

The Commercial Bank of Ceylon has committed more than Rs. 2 million to encourage the bank’s credit card holders to do their bit for the planet by opting for electronic statements instead of printed statements. The bank has announced that all ComBa

Sarvodaya Development Finance’s Annual Report wins Gold at 55th Annual Report Awards

Views - 28 Friday, 17 January 2020 00:00

The 2018/2019 Annual Report of Sarvodaya Development Finance Ltd. (SDF), a licensed Finance Company approved by the Central Bank of Sri Lanka (CA Sri Lanka), won the Gold award at the 55th Annual Report Awards competition organised by the Institute o

CB issues circular to banks on credit support to accelerate economic growth

Views - 304 Thursday, 16 January 2020 00:16

Central Bank Director Bank Supervision V.A.A.N. De Silva has issued the following detailed circular to banks on credit support to accelerate economic growth. With a view to accelerating economic growth in the country and based on discussions held wit

People’s Bank celebrates Thai Pongal

Views - 32 Thursday, 16 January 2020 00:15

A special ceremony was organised to commemorate the festival of Thai Pongal at the People’s Bank Kotahena branch under the patronage of People’s Bank Chief Executive Officer/General Manager Rasitha Gunawardena. At this ceremony a special Hindu po

Singapore launches new fund framework to bolster finance industry

Views - 28 Thursday, 16 January 2020 00:13

SINGAPORE (Reuters): Singapore launched a new corporate structure for investment funds with 20 so-called Variable Capital Companies (VCC) yesterday, a scheme designed to attract more funds to base themselves in the Asian city-state. The new framework

364-day bill weighted average yield continues to increase

Views - 71 Thursday, 16 January 2020 00:10

By Wealth Trust Securities The 364-day bill weighted average yield increased for a second consecutive week at Tuesday’s primary auction, recording a six basis point jump to 8.58% while the yield of the 182 day maturity remained steady at 8.13%. Al

Cargills Bank recognises its top customers of Cargills Food City 15% Cashback offer

Views - 102 Thursday, 16 January 2020 00:09

Cargills Bank selected the top five customers who have made the best use of the Cargills Bank 15% Cashback offer with Cargills Food City (CFC) and enjoyed the highest savings during the promo period from August 2018 to December 2019 (17 consecutive m

BOC rewards SmartRemit customers through ‘Pita Pita Rata Thegi 2’ provincial draw

Views - 38 Thursday, 16 January 2020 00:08

Encouraging Sri Lankan expatriates to remit their hard earned money securely back to their families whilst assisting to improve the country’s foreign remittance inflow, BOC’s ‘Pita Pita Rata Thegi 2’ raffle draw was held at the bank’s Head

CSE adopts GICS industry classification

Views - 71 Thursday, 16 January 2020 00:07

The Colombo Stock Exchange (CSE) has decided to discontinue the current industry classification used to categorise its listed companies and adopt the Global Industry Classification Standard (GICS) along with S&P/CSE cobranded sector indices with effe

CSE opens new week negatively

Views - 60 Tuesday, 14 January 2020 00:00

The Colombo stock market began a fresh week on a negative note with both indices down though turnover was healthy. Acuity Stockbrokers said the ASPI decreased by 0.11% or 6.88 points to close at 5980.67 points, while the S&P SL20 Index also decrease

DFCC Bank opens 20 branches across Sri Lanka within 30 days

Views - 70 Tuesday, 14 January 2020 00:00

DFCC Bank, the ‘Bank for Everyone’, opened 20 new branches at key locations island-wide within a span of 30 days last month, which is a remarkable milestone. The branches are spread across different parts of the island including Puttalam, Naula,

Steady outcome at bond auctions 

Views - 75 Tuesday, 14 January 2020 00:00

By Wealth Trust Securities The Central Bank of Sri Lanka was seen successfully raising a total amount of Rs. 30 billion through two Treasury bond auctions yesterday. The three-year and eight month maturity of 01.09.23 and the 10 year and four month m

Asia shares touch new 19-month highs ahead of US-China trade deal

Views - 21 Tuesday, 14 January 2020 00:00

Sydney/Shanghai (Reuters): Asian shares rose to new 19-month highs on Monday ahead of the expected signing on a Phase 1 China-US trade deal, although markets have yet to see the details of the agreement. MSCI’s broadest index of Asia-Pacific shares

Too far, too fast?

Views - 181 Tuesday, 14 January 2020 00:00

After a stellar 2019, investors are naturally asking themselves whether the strong performance can continue in 2020 or not. Trying to answer this is difficult as different perspectives provide different answers. Our approach to this challenge is to s

Amãna Bank Self Banking Centre now in Wattala

Views - 25 Monday, 13 January 2020 08:56

Amãna Bank recently opened its 17th Self Banking Centre in Wattala to further its reach and provide its customers with around the clock real-time cash deposits.

Bank of Ceylon expands its digital banking experience to Andigama and Weeerapokuna

Views - 27 Monday, 13 January 2020 08:55

The Bank of Ceylon expanded its branch network to Andigama and Weerapokuna with added convenience of 24-hour enabled digital banking facilities to the residents of those areas. BOC Weerapokuna is an expansion of a new branch whereas BOC Andigama is s

ComBank conducts knowledge sharing event exclusively for women entrepreneurs

Views - 34 Monday, 13 January 2020 08:53

The Commercial Bank of Ceylon recently conducted ‘WomEntrepreneur’, the first program by the bank in collaboration with the Women’s Chamber of Industry and Commerce (WCIC) exclusively for women entrepreneurs engaged in small and medium enterpri

HNB Assurance opens doors of 62nd branch in Chavakachcheri

Views - 32 Monday, 13 January 2020 08:52

HNB Assurance PLC (HNBA) opened its 62nd branch in Chavakachcheri recently. This occasion was graced by the Senior Management of HNBA led by the HNBA and its fully owned subsidiary HNB General Insurance Ltd.’s Managing Director/CEO Deepthi Lokuarac

Bond yields fluctuate to end week on positive note

Views - 58 Monday, 13 January 2020 08:49

The secondary bond market ended the week of 9 January 2020 on a positive note subsequent to fluctuating during the week.

HNB enhances security to global best practices with ISO 27001:2013 certification

Views - 218 Thursday, 9 January 2020 00:55

Sri Lanka’s most digitally innovative bank HNB announced another major milestone in its technological evolution with the bolstering of its Information Systems to reach ISO 27001:2013 certification – the highest applicable standard for information

Secondary market bond yields decrease marginally 

Views - 98 Thursday, 9 January 2020 00:53

By Wealth Trust Securities Secondary market bond yields decreased marginally yesterday with the liquid maturities of 15.03.23, the two 2024s (i.e. 15.06.24 and 15.09.24) and 15.10.27 hitting intraday lows of 9.22%, 9.68% each and 9.85% against its pr

Mahinda Saliya new Chairman at RDB

Views - 74 Thursday, 9 January 2020 00:39

Mahinda Saliya has been appointed Chairman of the Pradeshiya Sanwardana Bank (RDB) with effect from 1 January. Saliya holds a Bachelor of Commerce (Special) degree from the University of Kelaniya. He is well experienced in matters of Fiscal Policy, G

HNBA Group opens 2020 aiming for ‘Best in Class’

Views - 36 Thursday, 9 January 2020 00:36

Bearing the vision of being the ‘Best in Class’, HNB Assurance PLC (HNBA) and its fully-owned subsidiary HNB General Insurance Limited (HNBGI) unveiled its theme for 2020. Keeping an open mind about emerging market opportunities, challenges and

Seylan Bank ranked number one for ‘Customer Service Excellence’

Views - 52 Thursday, 9 January 2020 00:35

Marking yet another organisational milestone, Seylan Bank has been ranked number one in the Banking category by LMD for customer service excellence. As digitisation takes over day-to-day processes and automated systems handle customer services, it is

HDFC relocates Ambalangoda branch

Views - 33 Thursday, 9 January 2020 00:34

HDFC Bank relocated its Ambalangoda branch recently to a more spacious location to accommodate its increasing customer base and to provide greater reach, convenience and an enhanced banking experience to its customers. The new premises located at No

Your December expenses went overboard?

Views - 81 Thursday, 9 January 2020 00:29

Credit Cards can be a vital tool in managing one’s personal financials and its popularity has grown tremendously in recent times aided by attractive seasonal promotions offered by most credit card issuers. Unfortunately, this has also resulted in

Today's Columnists

Strategies towards the vision of ‘Clean Country – Green Environment’

Tuesday, 28 January 2020

Sri Lanka is a small island in South Asia. In early times, it was named the Pearl of the Indian Ocean. But what is happening to the pearl now? As a result of urbanisation and increase of population, environmental issues related to solid waste are inc

Has Sri Lanka really understood India’s economic potential?

Tuesday, 28 January 2020

India, a land with a diverse culture and heritage, is no doubt the centre of the South Asia that can take rest of the countries surrounding it to greater economic prosperity within the next few decades. This article is not a technical analysis of Ind

A challenge for President Gotabaya Rajapaksa: The societal, economic and political debt

Tuesday, 28 January 2020

The challenges before President Rajapaksa in balancing and striving towards balancing the societal, economic and political balance sheets is enormous. Although shown separately, these three are interconnected and interdependent, therefore requiring a

Gota’s ‘Viyathmaga’ to the future

Tuesday, 28 January 2020

Any critical assessment of President Gotabaya Rajapaksa must take into consideration the salient characteristics that make him stand out from the run-of-the-mill politicians who had occupied the peaks of power.

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