Financial Services

Amana Takaful expands branch network

Views - 21 Friday, 16 February 2018 00:00

Amãna Takaful PLC (ATL) recently opened its doors in Nugegoda, Beruwela and relocated its Puttalam Office.

Bond yields close steady following a third day of increases

Views - 60 Friday, 16 February 2018 00:00

Secondary market bond yields closed broadly steady yesterday following a third day of increases in morning hours of trading.

Sampath Bank becomes first bank to accept Alipay payments in Sri Lanka

Views - 125 Thursday, 15 February 2018 00:35

Sampath Bank, one of Sri Lanka’s most innovative banks, has become the first bank in the country to partner with Alipay, the world’s largest online and offline payment platform operated by Ant Financial Services Group. This latest partnership wil

CDB’s Business Excellence highlighted with Gold at NBE Awards 2017

Views - 56 Thursday, 15 February 2018 00:34

Having always espoused a business model that promotes holistic growth through an integrated business strategy benchmarked on excellence at all levels, Citizens Development Business Finance Plc (CDB) gained credence for its strategic path, winning a G

NDB to strengthen senior citizens and pensioners of the country

Views - 49 Thursday, 15 February 2018 00:33

NDB Achara solely dedicates itself into lending a helping hand towards the senior citizens and the pensioners of our country. As a means of uplifting the pensioners of Sri Lanka, the NDB Achara loan facility brings in a host of benefits such as long

Russia says hackers stole over $17 m from its banks in 2017

Views - 25 Thursday, 15 February 2018 00:33

Magnitogorsk, Russia (Reuters): Hackers stole more than 1 billion roubles ($ 17 million) from Russian banks using the Cobalt Strike security-testing tool in 2017, a central bank official said on Tuesday. Russia is under intense scrutiny over cyber cr

Seylan Bank honours top performers at Annual Sales Conference and Awards

Views - 38 Thursday, 15 February 2018 00:33

Seylan Bank felicitated the top performers of 2017 at the bank’s Annual Sales Conference and Awards, which concluded at the Hilton Colombo Residencies recently. The event saw the gathering of Seylan Bank’s senior management, along with award nom

Pan Asia Bank rewards top performers in Credit Card and Personal Loan sales

Views - 22 Thursday, 15 February 2018 00:31

Gampola branch bagged the top award for Credit Card sales with an achievement of 424% of their target while Mawanella and Kalubowila branches won the second and third place respectively with an achievement of 420% and 288% of the target. The overall

Colombo Bourse falls on political uncertainty after local polls

Views - 61 Thursday, 15 February 2018 00:30

Reuters: Sri Lankan shares fell for a second straight session yesterday, as political uncertainty after a defeat of the two ruling coalition parties in a local poll hurt investor sentiment. The ruling coalition Government of President Maithripala Sir

Rupee hits fresh record low as political uncertainty weighs

Views - 71 Thursday, 15 February 2018 00:30

Reuters: The Sri Lankan rupee hit a record low yesterday as panicked importers bought US dollars following the defeat of the two ruling coalition parties in a local election, but late selling in the greenback by exporters capped the fall. The ruling

364 day bill average leapfrogs to a ten week high

Views - 64 Thursday, 15 February 2018 00:30

The increasing trend in the weighted averages intensified at yesterday’s weekly Treasury bill auction with the weighted average on the 364 day bill increasing by 34 basis points to a 10-week high of 9.28%. This was closely followed by the 91 day bi

Asia shares wary of US inflation, dollar breaks down

Views - 17 Thursday, 15 February 2018 00:28

SYDNEY (Reuters): Asian share markets turned mixed on Wednesday as investor nerves were strained ahead of a US inflation report that could soothe, or inflame, fears of faster rate hikes globally. Japanese demand for yen also saw the dollar break last

Bank of Ceylon steps into state-of-the-art digital frontier with opening of ‘BOC DIGI’ in Kandy

Views - 200 Thursday, 15 February 2018 00:00

Bank of Ceylon, recognised as Sri Lanka’s No. 1 Brand, as part of its digitalisation journey launched its first flagship ‘BOC DIGI’ in Kandy City Centre recently. Located at the ultra-modern commercial and shopping complex, the Kandy City Centr

Bond yields spike ahead of weekly Treasury bill auction

Views - 92 Wednesday, 14 February 2018 00:00

The start of the trading week saw secondary market bond yields spike on small volumes following the outcome of the Provincial council elections

Fitch says IFRS 9 to drive modest rise in insurers’ income volatility

Views - 86 Wednesday, 14 February 2018 00:00

Insurers are likely to see a moderate increase in investment income volatility following the implementation of IFRS 9 accounting standards

HNB recognised for innovation in microfinance at IFM Awards 2017

Views - 59 Wednesday, 14 February 2018 00:00

Extending a winning legacy that spans over 29 years in the field, HNB won the award for Most Innovative Microfinance Bank in Sri Lanka

Capital Alliance launches Fipbox to invest smarter on fixed deposits

Views - 146 Wednesday, 14 February 2018 00:00

Leading investment banking firm, Capital Alliance (CAL) recently launched Fipbox — a centralised web application for investors searching

Seylan Bank opens 2 new branches in Aluthgama and Wariyapola

Views - 40 Wednesday, 14 February 2018 00:00

Seylan Bank opened two new branches in Aluthgama and Wariyapola area with state-of-the-art technology to provide fast and hassle-free banking experience.

Nations Trust and Unigiros reward inward remittances

Views - 59 Wednesday, 14 February 2018 00:00

Nations Trust Bank partnered with Unigiros, a remittance services provider in Israel, to facilitate easy remittances to Sri Lanka for the growing Sri Lankan community in Israel.

Housing loans with fixed interest rates up to 10 years from Pan Asia Bank

Views - 50 Wednesday, 14 February 2018 00:00

In a bid to meet the rising customer demand for a housing loan solution that offers a long term fixed interest rate structure,

Pan Asia Bank rewards top performers in credit card and personal loan sales

Views - 36 Wednesday, 14 February 2018 00:00

Pan Asia Bank recently awarded the branch staff who performed exceptionally on credit card and personal loan sales in year 2017.

Sri Lanka Insurance pays over 1,600 Suraksha claims for schoolchildren

Views - 24 Wednesday, 14 February 2018 00:00

The Suraksha Insurance scheme, which was launched by the Ministry of Education in October 2017, has already proved to

Rupee hits record low on foreign bond sales after poll results

Views - 112 Tuesday, 13 February 2018 00:00

Reuters: The Sri Lankan rupee ended down yesterday after hitting a record low during the day as foreign investors sold government securities following local election defeats at the weekend for ruling coalition parties. President Maithripala Sirisena

People’s Merchant Finance launches innovative personal loan scheme

Views - 64 Monday, 12 February 2018 00:03

With over 35 years of experience, People’s Merchant Finance Plc offers its customers financial services that are tailor-made to their financial needs. As a subsidiary of People’s Bank Group, People’s Merchant Finance Plc is backed by the stabil

Secondary bond market activity slows down during the week

Views - 92 Monday, 12 February 2018 00:03

By Wealth Trust Securities Activity in the secondary bond market slowed down considerably during the latter part of the shortened trading week ending 9 February ahead of local government elections. Nevertheless, selling interest during the early part

Commercial Bank to keep 70 branches open on Maha Shivaratri Day

Views - 50 Monday, 12 February 2018 00:02

The Commercial Bank of Ceylon has announced it will keep 70 branches open for business on Tuesday, 13 February, a public and bank holiday to mark the Maha Shivaratri festival. The Commercial Bank branches that will operate on that day include the ban

IMF chief says market fluctuations aren’t worrying

Views - 49 Monday, 12 February 2018 00:02

DUBAI (Reuters): Sharp fluctuations in global equity markets and other markets in the past few days are not worrying, as global economic growth is strong and available financing is ample, International Monetary Fund Managing Director Christine Lagard

PAYable signs 2000 new merchants in 2 months with VISA promotion

Views - 185 Monday, 12 February 2018 00:02

PAYable revolutionised cashless mobile payments in 2016, when it first entered the market with a mission to empower Sri Lanka’s micro, small and medium enterprises with the ability to accept electronic payments at a very low cost. The company recen

Indian bourses to stop licensing index, stock prices to foreign exchanges

Views - 14 Monday, 12 February 2018 00:00

MUMBAI (Reuters): India’s three main stocks exchanges said on Friday they would stop licensing their indexes and securities or providing data to foreign exchanges, saying such agreements had led trading to migrate outside of the country. Foreign ma

Lazard and MTI investment banking delegation in town

Views - 68 Friday, 9 February 2018 12:00

Lazard, the $ 2.7 billion global financial advisory firm in conjunction with Sri Lanka’s leading strategy consultancy MTI, plans to meet officials of the Sri Lankan

Today's Columnists

Tamil actor Kamal Haasan stars in new role as political leader

Saturday, 24 February 2018

Srinivasan Kamal Haasan is one of India’s foremost film actors. Known popularly as Kamal, the talented and versatile thespian has not only excelled as an actor onscreen, but has successfully engaged in other cinematic spheres too. The multi-faceted

Yameen’s economic offensive to counter political adversity ahead of presidential poll

Saturday, 24 February 2018

The embattled Maldivian President Abdulla Yameen, who is facing intense political opposition both in and out of the country, hopes to win the September, 2018 presidential election using a combination of political belligerence and a strong economic pr

In the end, there was nothing

Saturday, 24 February 2018

Much more than a storm in a tea cup! To a non-discerning person, it all seemed like the final battle of the counter revolution. President Sirisena was up in smoke trying to oust Prime Minister Ranil Wickremesinghe for no articulated reason. He asked

Shouldn’t Govt. prevent parliamentary system from decay and destruction?

Friday, 23 February 2018

The wrong people teach us the best lessons. As a clever nation, we had always used our ballot and chased the wrong people

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