Financial Services

AIA Centennial Walk in Matara

Views - 13 Wednesday, 6 March 2019 00:00

The world’s largest life insurer, AIA’s centennial celebrations continued in Matara, with over 300 customers, employees and wealth planners from regional branches in the south uniting to celebrate AIA’s 100-year journey. Participants pledged to

BW Wellness vertical to make corporates work healthy, staffers financially free

Views - 95 Wednesday, 6 March 2019 00:00

Beyond Wealth (BW) and Strategic Insurance (, two successful companies in wealth creation and protection, will initiate a new Wellness vertical to be launched at the Young Chartered Accountants Forum (YCAF), on 6 March from 5 p.m. onwards,

PM’s Ministry reviews Enterprise Sri Lanka ‘Thurunu Diriya’ Eastern Province progress

Views - 60 Wednesday, 6 March 2019 00:00

The second progress review meeting for the Enterprise Sri Lanka /BoC ‘Thurunu Diriya’ loan scheme in the Eastern Provincewas held on Friday 1 March at the Batticaloa District Secretariat. It was presided over by Charitha Ratwatte, Head of the Cen

CSE recovers on bargain hunting; rupee gains

Views - 51 Wednesday, 6 March 2019 00:00

REUTERS: Sri Lankan shares rose on Tuesday, recovering from a more than five-year closing low hit in the previous session, as investors picked up battered stocks, and 2019 budget proposals to increase spending and cut fiscal deficit boosted sentiment

Asian shares retreat, China cuts growth target

Views - 14 Wednesday, 6 March 2019 00:00

TOKYO (Reuters): Asian shares stepped back on Tuesday after China cut its economic growth target and pledged measures to support the economy amid growing challenges from rising debt and a dispute over trade and technology with the United States. Aust

Bond market yields end mostly unchanged ahead of weekly bills auction

Views - 69 Wednesday, 6 March 2019 00:00

By Wealth Trust Securities The secondary bond market yields were seen closing the day mostly unchanged against its previous days closings, subsequent to increasing during morning hours of trading. Selling interest on the three liquid maturities of 01

World shares edge higher on US-China trade deal hopes

Views - 22 Tuesday, 5 March 2019 01:25

LONDON (Reuters): Global shares rose on Monday amid growing optimism the United States and China will reach a trade agreement as soon as this month. US President Donald Trump and Chinese President Xi Jinping might seal a formal trade deal around 27 M

Money market liquidity improves to over a five-month high

Views - 101 Tuesday, 5 March 2019 01:16

By Wealth Trust Securities The secondary bond market rallied towards the latter part of the week ending 1 March, driving yields lower on the back of the staff level agreement reached between the International Monetary Fund (IMF) and the Government of

Fitch revises outlook on HNB Assurance, HNB General Insurance to positive; affirms at ‘A’

Views - 34 Tuesday, 5 March 2019 01:15

Fitch Ratings has revised the Outlook on the National Insurer Financial Strength (IFS) Ratings of Sri Lanka-based life insurer HNB Assurance PLC (HNBA) and its fully owned non-life subsidiary, HNB General Insurance Ltd. (HNBGI), to Positive from Stab

COYLE partners with AIA Insurance Lanka to enhance Life Insurance amongst member companies

Views - 38 Tuesday, 5 March 2019 01:15

The Chamber of Young Lankan Entrepreneurs (COYLE) signed an agreement with AIA Insurance Lanka PLC to highlight benefits of Life Insurance for reducing life-related risks at their monthly membership meeting held at Jetwing Colombo Seven recently. The

CMA Sri Lanka launches ‘Cost and Management Accounting Standards Board’

Views - 144 Tuesday, 5 March 2019 00:47

The Institute of Certified Management Accountants of Sri Lanka (CMA), recognising the need for structured approach to the measurement of cost in manufacturing and services sectors and to provide guidance in cost and management accounting to the user

K. Sivagananathan Memorial Oration and Awards on 11 March

Views - 21 Tuesday, 5 March 2019 00:46

The 17th Annual K. Sivagananathan Memorial Awards and Oration will be held on Monday, 11 March. This Annual Memorial Oration and Awards ceremony is conducted jointly by the Association of Professional Bankers of Sri Lanka (APB) and K. Sivagananathan

#CIMA100 member development events

Views - 170 Tuesday, 5 March 2019 00:45

The Chartered Institute of Management Accountants (CIMA) Sri Lanka, will be organising a series of member development events during this centenary year to celebrate CIMA members in diverse industries. The initial event titled ‘Banking and Finance

CIMA AAFI workshop on tax and accounting

Views - 53 Tuesday, 5 March 2019 00:43

The Association of Alternate Financial Institutions (AAFI) in collaboration with The Chartered Institute of Management Accountants (CIMA) Sri Lanka conducted an educative and interactive workshop on the Tax and Accounting Aspects of Islamic Finance t

Amãna Takaful (ATL) promotes meaningful insurance for all

Views - 130 Tuesday, 5 March 2019 00:00

Led by a commitment to provide peace of mind to all segments of society across the nation, Amãna Takaful (ATL) PLC has tailor-made insurance product and services. Achieving success for over two decades, the company has been a dynamic trendsetter, co

People’s Bank promotes digital services at Digital Week in Gampaha

Views - 65 Friday, 1 March 2019 00:00

People’s Bank organised a Digital Week recently at its branches in the Gampaha region to offer exclusive digitalised banking experiences to customers to demonstrate how they can enjoy banking on the go. Positioned as a leading digital financial ser

Seylan Bank installs 2 new off-site ATMs at Colombo National Hospital and Trincomalee

Views - 25 Friday, 1 March 2019 00:00

Seylan Bank PLC expanded its off-site Automated Teller Machine (ATM) network with the addition of two new units installed at the Colombo National Hospital and in Trincomalee recently. With these additions, people who are visiting the Colombo National

CLC expands reach with two new branches in Horana and Nikaweratiya

Views - 25 Friday, 1 March 2019 00:00

Commercial Leasing and Finance PLC (CLC) made the 64th and 65th additions to its island-wide branch network recently, reinforcing its profound relationship with its customers. CLC’s 64th branch was ceremonially declared open in Horana at No. 99 B,

Secondary bond market yields remain mostly unchanged

Views - 64 Friday, 1 March 2019 00:00

The secondary bond market yields were seen closing the day mostly unchanged yesterday as the liquid maturities of two 2021s (i.e. 01.08.21 and 15.12.21), two 2023s (i.e. 15.05.23 and 15.07.23) and two 2027s (i.e. 15.01.27 and 15.06.27) were seen chan

Janashakthi Life delivers steady growth through FY 2018

Views - 33 Friday, 1 March 2019 00:00

Leading Sri Lankan insurer, Janashakthi Insurance PLC (Janashakthi), delivered steady growth during the period under review, registering 8% growth in first year premiums, with Gross Written Premiums (GWP) of Rs. 3 billion, along with a reported surpl

Commercial Credit and Finance records successful Q3 2018

Views - 36 Friday, 1 March 2019 00:00

Commercial Credit and Finance PLC Group recorded a strong performance for the quarter ended 31 December 2018 with an un-audited profit attributable to shareholders of Rs. 808,425,246 as compared to Rs. 678,095,749 recorded in the quarter ended 31 Dec

AIA Insurance Lanka plans voluntary de-listing from the Colombo Stock Exchange

Views - 50 Friday, 1 March 2019 00:00

Publicly listed company AIA Insurance Lanka PLC yesterday announced that it intends to delist the Company’s shares from the official list of the Colombo Stock Exchange (CSE), subject to shareholder and regulatory approval. An Extraordinary General

Shares recover from 4-month closing low; rupee eases

Views - 24 Friday, 1 March 2019 00:00

Reuters: Sri Lankan shares rose on Thursday after declining for eight straight sessions to a four-month closing low in the previous day, as investors picked up beaten-down stocks ahead of an increase in liquidity, analysts said. The rupee closed wea

Thilak Piyadigama takes over reins at SDB bank as new CEO

Views - 56 Friday, 1 March 2019 00:00

A veteran banker counting over 30 years of experience in the industry, Thilak Piyadigama is taking over the reins of SDB bank as the new CEO with effect from today, 1 March. He has held senior management positions in the banking and technology indust

HNBA Group surpasses Rs. 2 b mark in after tax profit in 4Q

Views - 27 Friday, 1 March 2019 00:00

HNB Assurance Group delivered striking financial results for 4Q 2018, posting a Profit After Tax (PAT) of Rs. 2.7 b. This includes the regular profits for the period together with the one-off surplus which is resultant of the life fund valuation rul

70 ComBank branches to stay open on Mahasivarathri Day

Views - 19 Friday, 1 March 2019 00:00

The Commercial Bank of Ceylon has announced it will keep70 branches open for business on Monday, 4 March, a public and bank holiday in celebration of Mahasivarathri. The Bank said the branches scheduled to operate on that day would include its 25 Sup

Asian stocks fall as trade hopes wane, US-North Korea summit ends early

Views - 8 Friday, 1 March 2019 00:00

TOKYO (Reuters): Asian stocks fell on Thursday as investors dialled back some of their recent optimism about a Sino-China trade deal while news that the US-North Korean summit in Hanoi was ending early rattled confidence late in the trading day. The

Nations Trust Bank records a resilient performance

Views - 1325 Friday, 1 March 2019 00:00

The Group closed the year ending 31 December 2018 with a post-tax profit of Rs. 3,702 million, up by 10% over the previous year in a difficult operating environment, which witnessed increased non-performing loans, tightening of liquidity, moderation

364 day bill weighted average dips for the first time in three weeks

Views - 101 Thursday, 28 February 2019 00:00

The 364 day bill weighted average at yesterday’s weekly Treasury bill auction was seen decreasing, reversing two consecutive weeks of increases. The 364 day bill recorded a weighted average of 10.67% following a 06 basis point decrease while all bi

Siyapatha Finance records PBT of Rs. 833.79 m in the face of a challenging 2018

Views - 198 Thursday, 28 February 2019 00:00

Leading financial entity, Siyapatha Finance PLC, a fully-owned subsidiary of Sampath Bank, recorded a pre-tax profit and a post-tax profit of Rs. 833.79 m and Rs. 516.52 m respectively by 31 December 2018, despite the macroeconomic challenges faced b

Today's Columnists

M.N. Nambiar: Birth centenary of Tamil cinema’s greatest screen villain

Saturday, 23 March 2019

Thursday 7 March this year was the birth centenary of Indian film actor Manjeri Narayanan Nambiar known to the world at large as M.N. Nambiar. The great Thespian who made a name for himself by acting in negative roles was hailed by many as the greate

An innocent utopian dream

Saturday, 23 March 2019

In an article published in the Daily FT on 19 February 2015, I predicted the trajectory of the ‘Yahapalana’ Government. In that piece of conjecture captioned ‘Maithri’s Mandate and Ranil’s Royalist Regency’ I said that Sri Lanka was witne

Historic betrayal of SLMC and ACMC

Saturday, 23 March 2019

It appears, according to a news report that the leaders of SLMC, ACMC and DPF during a meeting with President Sirisena to discuss constitutional reforms have “reneged on their promise to back the ongoing efforts to abolish the executive presidency

Playing with history

Friday, 22 March 2019

First of all, I was delighted to note a counter criticism ‘A reply to Victor Ivan’s ‘What went wrong with Sri Lanka?’ published in the Financial Times on 11 March in response to my article which appeared in the same newspaper on 22 February.

Columnists More