Financial Services

Bank of Ceylon Gampaha relocates on 80th anniversary

Views - 31 Monday, 5 August 2019 00:00

The Bank of Ceylon reached another milestone on its 80th anniversary when it relocated its Gampaha branch to new premises. The Chief Guest at the occasion was Speaker of the Parliament Karu Jayasuriya. Gampaha Municipal Council Mayor Eranga Senanaya

AIA Gold Plus: a new breed of financial advisors

Views - 43 Monday, 5 August 2019 00:00

AIA Sri Lanka, the leading life and health insurer launched their Gold Plus initiative, intended at recognizing their highest performing Wealth Planners. AIA Gold Plus seeks to identify, recognize and reward the best of the best of financial adviser

‘Pathfinder Money’ opens currency changing service in Colombo 3

Views - 58 Monday, 5 August 2019 00:00

MMBL-Pathfinder Group has formally launched ‘Pathfinder Money’, a Central Bank-approved money changing service, to buy and sell foreign currencies at No. 330, Galle Road, Colombo 3. The ‘Pathfinder Money’ network will be expanded to strategic

Parallel shift downwards of yield curve

Views - 99 Monday, 5 August 2019 00:00

The sharp reduction on the 364 day bill weighted average, reduction in CCPI inflation numbers for the month of July coupled with the Fed policy rate reduction along with the drop in US Treasury yields led to secondary market bond yields dipping durin

Standard Chartered transforms domestic custody transactions with Ceylinco Life Insurance

Views - 152 Monday, 5 August 2019 00:00

Standard Chartered has announced that its global internet banking platform, Straight2Bank, facilitated the migration of Ceylinco Life’s Custody transactions to a fully-automated platform. Following the successful integration, the platform was inaug

Blockchain launches cryptocurrency exchange with trades at high speed

Views - 94 Friday, 2 August 2019 00:00

Reuters: Blockchain, one of the world’s largest digital currency wallet companies, announced on Tuesday the launch of a cryptocurrency exchange called The PIT that aims to execute trades in microseconds for retail and institutional investors. After

StanChart warns of trade war, rate risks after profit tops estimates

Views - 59 Friday, 2 August 2019 00:00

Hong Kong/London (Reuters): Standard Chartered PLC flagged the tit-for-tat tariff war between China and the United States and an easing monetary policy cycle as potential risks for the Asia-focused lender, even as it managed to exceed first-half prof

Asian shares stumble, dollar firms as Fed dampens bets on more rate cuts

Views - 42 Friday, 2 August 2019 00:00

SYDNEY (Reuters): Asian shares fell to six-week lows on Thursday while the dollar jumped to two-year highs as the US Federal Reserve poured cold water on market expectations of a lengthy easing cycle following a 25 basis-point rate cut. MSCI’s broa

Fed cuts interest rates, signals it may not need to do more

Views - 67 Friday, 2 August 2019 00:00

WASHINGTON (Reuters): The Federal Reserve cut interest rates on Wednesday, but the head of the US central bank said the move might not be the start of a lengthy campaign to shore up the economy against risks including global weakness. Fed Chairman Je

SDB Bank wins three prestigious awards at Asian Banking and Finance Awards 2019

Views - 42 Friday, 2 August 2019 00:00

SDB Bank emerged victorious with three outstanding awards at the recently concluded Asian Banking and Finance Awards 2019 held at the Shangri-La Singapore. The event, annually organised by the Asian Banking and Finance Magazine, is among the larges

NTB announces ‘20 Weeks of Rewards’ for business customers in celebration of 20th anniversary

Views - 37 Friday, 2 August 2019 00:00

Nations Trust Bank is currently celebrating its 20th anniversary. To mark this major milestone, the Bank is offering its business customers a special 20% bonus on Nations Business Rewards through the recently launched ‘20 Weeks of Rewards’ progra

Fairfirst protects more than 25,000 Dambadiva pilgrimage travellers

Views - 32 Friday, 2 August 2019 00:00

Nearly 50,000 Sri Lankans travel every year to India and Nepal for the hugely popular Dambadiva pilgrimage. Venerated by Buddhists the world over, pilgrims have continued to visit Dambadiva for centuries. Known to be a fairly demanding and tiresome j

Union Assurance expands its services across Jaffna and Bandarawela regions with new outlook

Views - 26 Friday, 2 August 2019 00:00

Celebrating over 30 years of excellence, Union Assurance (UA) continues to invest in people, products and processes to become a true partner in success for all stakeholders. Delivering the best for its customers and providing a quality and standard s

Sampath Bank promotes children’s savings account

Views - 50 Friday, 2 August 2019 00:00

With an aim to promote saving among the young generation, Sampath Bank has introduced a new gift voucher scheme called ‘One to One’. These gift vouchers will benefit the new and existing account holders of Sampath Bank’s children’s savings ac

ComBank launches ‘Yasasa’ savings account exclusively for pensioners

Views - 37 Friday, 2 August 2019 00:00

The Commercial Bank of Ceylon has launched a savings account exclusively for government pensioners and their widows or widowers, to facilitate access to a host of special benefits the Bank provides to this segment. The ‘Yasasa Pensioners’ Savings

Sri Lanka shares end near 1-week low on selling in banks; rupee weaker

Views - 59 Friday, 2 August 2019 00:00

Reuters: Sri Lankan shares fell for a third straight session on Thursday to near one-week low, dragged down by banking and diversified shares, while the rupee ended weaker due to importer dollar demand. The country’s benchmark stock index closed 0.

Sri Lanka’s first peer-to-peer lending platform Helios secures second round funding from JKH

Views - 742 Friday, 2 August 2019 00:00

Helios P2P – Sri Lanka’s first peer-to-peer lending platform – secured its second round of funding from the John Keells X Accelerator. which is the corporate accelerator of John Keells Holdings PLC. Helios P2P which was the winner of the 2017

SEC, CSE and FITIS engage tech companies on capital raising opportunities

Views - 140 Friday, 2 August 2019 00:00

The Colombo Stock Exchange (CSE) in association with the Securities and Exchange Commission continued the drive to raise awareness on accessing funding through public markets among potential issuers by organising an exclusive forum for the membership

Treasury helps HDFC Bank meet minimum capital requirement

Views - 56 Friday, 2 August 2019 00:00

The General Treasury of the Government has helped the Housing Development Finance Corporation Bank (HDFC) to meet the regulatory minimum core capital requirement of Rs. 5 billion. The Bank said it contributed Rs. 250 million from internally generated

Momentum in secondary bond market turns positive

Views - 67 Friday, 2 August 2019 00:00

By Wealth Trust Securities The fresh month commenced on a positive note as renewed buying interest across the yield curve saw secondary market bond yields decline yesterday. The yields on the liquid maturities of 2021’s (i.e. 01.03.21, 01.05.21, 01

364 day bill weighted average dips sharply to over 41-month low

Views - 93 Thursday, 1 August 2019 04:59

By Wealth Trust Securities The weighted average yield of the 364 day bill decreased sharply by 17 basis points to an over 3 year and 5 month low of 8.21% at yesterday’s weekly bill auction, while the weighted average yields of the 91 day and 182 da

DFCC maintains a steady course despite turbulence

Views - 83 Thursday, 1 August 2019 04:57

DFCC Bank yesterday said it has managed to maintain steady course in its financial performance and operations despite turbulent environment in the second quarter and first half ended on 30 June 2019. In a statement DFCC said the core business of the

Keen to positively impact Sri Lanka’s capital market development: CFA Institute President

Views - 82 Thursday, 1 August 2019 04:54

Chartered Financial Analyst (CFA) Institute President Paul Smith, who is currently visiting Sri Lanka, yesterday expressed enthusiasm to help formulate plans for capital market development. “We are in many ways a research-driven organisation. We be

A quarter-century of excellence: HNB crowned No.1 bank in LMD’s Club 100

Views - 158 Thursday, 1 August 2019 04:53

Recognising a legacy of consistent product innovation, service excellence and banking beyond transactions, HNB PLC has been ranked as the first among all Sri Lankan banks, over the last 25 years and been a part of the elite list of companies that com

‘Bankers to the Nation,’ Bank of Ceylon celebrates 80th anniversary

Views - 57 Thursday, 1 August 2019 00:01

Sri Lanka’s No. 1 bank, Bank of Ceylon, is geared to celebrate its eight decades of dominance in the banking industry on 1 August. With the heritage that explicitly showcases the commitment to the nation, the Bank of Ceylon is considered to be amo

Sampath Bank hosts ‘Sampath Saviya – SME Forum’ in Kandy to assist entrepreneurs

Views - 41 Thursday, 1 August 2019 00:00

Sampath Bank recently conducted a one-day business forum in Kandy titled ‘Sampath Saviya – SME Forum’, a development program targeting Micro, Small and Medium scale Entrepreneurs (MSMEs) to provide them key practical approaches to drive busines

Sarvodaya Development Finance empowers 150 entrepreneurs through ‘Village Biz Festival’

Views - 44 Thursday, 1 August 2019 00:00

In keeping with its strong legacy of supporting grassroots entrepreneurs, Sarvodaya Development Finance stepped forward to conceptualise and support the highly-successful ‘Village Biz Festival’ in partnership with Hatton National Bank. Held at Gr

Lanka Microfinance Practitioners’ Association promotes responsible financial inclusion

Views - 56 Thursday, 1 August 2019 00:00

The Sri Lankan microfinance industry has had a vibrant history throughout the past three decades. Microfinance was observed as a poverty alleviation tool helping thousands of low income households to become financially sustainable and improve their l

President, PM kick off BOC 80th anniversary celebrations

Views - 36 Thursday, 1 August 2019 00:00

The 80th anniversary ceremony of the Bank of Ceylon, which has rendered a historically significant service contributing to the economy and social development of the country, commenced on Tuesday at the Bandaranaike Memorial International Conference H

CSE dips on profit-taking; rupee weaker

Views - 83 Wednesday, 31 July 2019 00:00

Reuters: Sri Lankan shares snapped their five-session gaining streak on Tuesday as investors booked profits, while the rupee ended weaker due to importer dollar demand. The country’s benchmark stock index ended 0.72% weaker at 5,951.75, slipping f

Today's Columnists

Religion is a problem in Sri Lanka; can it be a solution?

Saturday, 17 August 2019

Generally, it is expected that religion should be a solution to a problem. Ironically in Sri Lanka religion is the problem. Therefore, what would be the solution? When religion becomes a problem of a country....

Orthodoxy and change: A perennial Muslim issue

Saturday, 17 August 2019

Whether Muslims live as minorities in non-Muslim countries or as majorities in a total of fifty seven countries, the clash of orthodoxy with modern challenges is a perennial issue that bedevils progress on several fronts in these communities.

Making the MCC Compact work for Sri Lanka

Friday, 16 August 2019

It is a sign of these political times that even an apolitical issue like a foreign aid program becomes a hot topic in Sri Lanka. In April 2019, the Board of Directors of the Millennium Challenge Corporation (MCC) approved a compact program for Sri La

Sri Lanka needs a president hungry for success, not power

Friday, 16 August 2019

The late John F. Kennedy described politics as a “noble adventure, an adventure in which one joins hands with the masses for the service of man”. Not that the Kennedys didn’t play “politricks” in their heyday. But playing “politricks” w

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