SDB bank embarks on new growth path

Sanasa Development Bank PLC (SDB bank) has secured US $ 22 million (approximately Rs.3.3 billion) from international lenders through a private placement deal in order to expand its capital base to meet the regulatory requirements.

Ceylinco Life’s 1Q net profit up 58% to Rs.673mn

Ceylinco Life has accelerated into FY 2017 posting robust income growth and exceptional profit growth for the three months ending March 31, 2017.

LIC India Chairman visits Colombo

V.K. Sharma, Chairman LIC of India and Chairman, LIC (Lanka) Ltd. accompanied by Hemant Bhargava, M.D. of LIC of India and Director, LIC (Lanka) Ltd. are in Colombo to attend the 49th Board Meeting of LIC (Lanka) Ltd.  

MCB Bank opens upgraded Wellawatte branch

With its strategy to provide customers a state-of-the-art banking experience, the fast growing Pakistan-based MCB Bank declared open their newly refurbished and renovated Wellawatte branch on May 26th. 

ComBank unveils auto bill pay facility

Credit card holders of Commercial Bank of Ceylon need no longer worry about paying their bills on time thanks to an automated bill payment facility launched by the bank.

Standard Chartered and Uber tie up

Standard Chartered is delighted to bring to its credit cardholders a 20 percent cash back on Uber rides with a saving of up to Rs.1,500 a month, for cardholders with total monthly retail spends of a minimum Rs. 40,000 on their credit cards. New users who download the Uber app – one of the world’s most popular transport apps, and register with their Standard Chartered credit card will be rewarded with the first 2 rides free, up to a ma

NDB CEO’s Club winners felicitated

NDB CEO Dimantha Seneviratne addresses the CEO’s Club members of NDB Bank on their outstanding Bancassurance performance in 2016, at an exclusive event organised by AIA Insurance, at Waters Edge recently. This recognition programme has been very successful in strengthening the long and fruitful partnershipbetween AIA Insurance and NDB Bank.

Nations Trust Bank hosts workshops for SMEs

Nations Trust Bank recently hosted a series of workshops for the stakeholders of Small and Medium Scale Enterprises (SME) in Kiribathgoda, Negombo and Chilaw. 

Deepthi Lokuarachchi appointed HNB Assurance MD

Deepthi Lokuarachchi has been appointed the Managing Director of HNB Assurance PLC with effect from May 26. The appointment is subject to the approval of the Insurance Board of Sri Lanka. A stock exchange filing by the insurer said, in addition to his new position, Lokuarachchi will function as the CEO of HNB Assurance PLC and HNB General Insurance Limited. He was appointed CEO of the two companies on May 2, 2016.

People’s Leasing Company reaches bicentennial branch opening phase

The leading non-bank finance company in Sri Lanka, People’s Leasing & Finance PLC, upgraded and relocated two of its branches in Mathugama and Aluthgama.

BOC relocates Kochchikade branch

The Bank of Ceylon (BOC) Kochchikade branch was relocated at No: 18, Chilaw Road, Kochchikade recently. 

Sampath Bank commemorates 30th anniversary with religious observances

Sampath Bank conducted a series of religious observances relating to all major faiths in the country to invoke divine blessings on the occasion of its 30th anniversary, which was celebrated in March.

NDB committed to bring success to women entrepreneurs

‘When sleeping women wake, mountains move’ a famous Chinese proverb is starting to become more and more relevant in today’s context, in an era where the role of women havebecome ever more essential in the development of economies across the world.

Priyantha Fernando appointed Union Bank Deputy Chairman

The Board of Directors of Union Bank of Colombo PLC announced the appointment of banker Priyantha Fernando as Deputy Chairman of the Bank.

HNB launches Cinnamon Gardens Customer Centre

HNB, recently acknowledged as the ‘Best Retail Bank in Sri Lanka’ for the ninth year by the ‘Asian Banker’, officially opened its newest customer centre – HNB Cinnamon Gardens Customer Centre at Barnes Place, Colombo 7. 

CLC’s Islamic finance wins Gold at 6th SLIBFI Awards Night

The Islamic Business Division (IBD) of Commercial Leasing & Finance PLC (CLC), the newest addition to the Islamic banking and finance industry has won the Gold Award for the ‘Emerging Islamic Finance Entity of the Year 2016’. 

Thimal Perera to join DFCC as Deputy Chief Executive-Designate

Career banker Thimal Perera will be joining DFCC Bank PLC next month as the Deputy Chief Executive-Designate, a disclosure by the bank to the Colombo Stock Exchange stated.

Invincible savings on insurance for HSBC cardholders through InsureMe.lk

Sri Lanka’s first insurance Comparison web platform www.insureme.lk has partnered with HSBC Sri Lanka to offer affordable motor insurance covers to the bank’s credit card customers.

Amãna Bank gets capital boost from ICD

Amãna Bank has received confirmation from IB Growth Fund (Labuan) LLP, a subsidiary of the Islamic Corporation for the Development of the Private Sector (ICD), to participate in the Bank’s forthcoming rights issue. 

Pan Asia Bank offers highest rate for ‘Champion Saver’

Pan Asia Banking Corporation offers up to 8 percent (AER 8.33 percent) for savings deposits through its flagship savings product ‘Champion Saver’.

AIA Tower opens for business

AIA Insurance announced its new head office building, the AIA Tower, located at Dharmapala Mawatha, Colombo 07. The move to the new building, signals AIA’s deep commitment to further expand its growing business in Sri Lanka. 

Commercial Bank offers e-FDs online

Commercial Bank’s online banking platform has been further enhanced with the introduction of Electronic Fixed Deposits (e-FDs) in both local and foreign currencies.

Allianz Lanka registers impressive 1Q 2017

Allianz Lanka continued to maintain its growth momentum across its life and general insurance businesses through 1Q 2017.

HNB completes New World Rewards online banking promo

Buddhika Kumara from the Hatton National Bank (HNB) Athurugiriya customer centre was the lucky winner to drive a brand-new Nissan Leaf home at the conclusion of a grand draw under HNB PLC’s New World Rewards 2017 - Sri Lanka’s first online banking rewards system. 

First Capital records Rs.231mn profit for FY16/17

First Capital Holdings PLC, a full-service investment bank providing a diverse range of advisory services and financial products through its subsidiaries, reported a consolidated profit after tax of Rs.231 million for the financial year 2016/17 (FY16/17) compared to Rs.47 million in the previous year. 

Janashakthi March profit down 39% over higher claims

Janashakthi Insurance PLC saw its group net profits falling by 39.3 percent to Rs.217 million or 40 cents a share for the March quarter (1Q17) as the benefits and claims paid during the period rose from last year, the interim financial accounts released to the Colombo Stock Exchange showed. 

CA Sri Lanka’s Business Plan Competition grand finale winner off to Australia

Mahamaya Girls College, Kandy which won the grand finale at the CA Sri Lanka Business Plan competition will leave for Australia next week to take part at the blueshift International Business Case Competition organized by the Queensland University of Technology (QUT) in Brisbane. 

HNB takes ‘Salary Smart’ to new heights launching benefits-rich scheme

HNB recently announced the launch of ‘Salary Smart’, their benefits-laden salary saver product, offered not just for the salaried account- holder but the immediate as well as extended family. 

SDB bank Chairperson to attend Bhutan Economic Forum

Samadanie Kiriwandeniya, chairperson of SANASA Development Bank will be participating at the Bhutan Economic Forum for Innovative Transformation and will represent the banking sector of Sri Lanka in the forum.

Global default risks mostly receded in past year: StanChart

REUTERS: Risk perception for most of the world’s countries have improved in the past year, according to a Standard Chartered analysis of credit default swaps (CDS), contrasting with deterioration in France, Italy, the United States and Germany.