CA Sri Lanka-Wayamba University to enhance cooperation with new MoU

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently signed a memorandum of understanding (MoU) with the Accountancy Department of the Wayamba University in an effort to enhance the cooperation between the two bodies, which will pave the way for further development of the accounting profession in the country. 

NDB records Rs.1bn worth of transactions via mobile banking app

National Development Bank PLC (NDB) celebrated the reach of Rs.1 billion worth of mobile banking transactions in 2017.

AIA and DFCC celebrate top bancassurance performers

A grand awards ceremony was held at the Kings Court, Cinnamon Lakeside, recently, to recognize the top performers from AIA and DFCC’s bancassurance channel.

Nearly 2,000 Ceylinco Life policyholders celebrate life at Leisure World

Nearly 2,000 Sri Lankans from every district of the country were united in a day of fun and frolic when the 10th edition of the Ceylinco Life ‘Family Savari’ programme got underway at the Leisure World theme park last week.

NDB Wealth’s Retirement Income Plan, a Mother’s Day gift

We can never repay our mothers for what they have done for us, investing all of their time, effort and energy and every rupee they have, into making sure our futures are bright. And what better way to say a well-deserved ‘thank you’ to mom than with a Retirement Income Plan from NDB Wealth, which gives her the chance to spend her own retirement stress-free and in good health.

Rupee ends steady after paring early gains

REUTERS: The Sri Lankan rupee ended steady yesterday, erasing gains from earlier in the day on investor concerns that the currency would fall after the Central Bank set a target for buying dollars directly from the market in a bid to boost reserves.

Central Bank releases ‘A Guide to Financial Services in Sri Lanka’

The Central Bank has released its new publication ‘A Guide to Financial Services in Sri Lanka’ specifically compiled for the awareness of the general public on the financial institutions in Sri Lanka. 

Ironwood Investment announces mandatory offer on Abans Finance

 Ironwood Investment Holding (Pvt.) Ltd, a unit of private equity firm Ironwood Capital Partners, yesterday announced a mandatory offer to purchase all the remaining shares of Abans Finance PLC. The mandatory offer was announced at Rs.25 per share. However, the Abans Finance share is now trading around Rs.35-36 levels.

HNB Assurance 1Q profit surges over higher premiums, investment incomes

HNB Assurance PLC, the insurance subsidiary of the Hatton National Banking group, reported earnings of Rs.74 million or Rs.1.48 a share for its March quarter (1Q17), an increase of 121 percent from a year ago as the gross written premiums (GWPs) from both life and non-life businesses increased, the interim results showed. 

HNB relocates to spacious new Ratnapura customer centre

Catering to the rapid growth in commercial and retail banking activity in the area, Sri Lanka’s premier private commercial bank, HNB PLC, officially opened its newly relocated Ratnapura customer centre at No: 9, Senanayake Mawatha, Ratnapura. 

Rupee ends lower on importer dollar demand

REUTERS: The Sri Lankan rupee ended weaker yesterday led by usual importer dollar demand, but dealers said depreciation pressure on the currency has eased on strong inflows from foreign borrowings.

Shares extend gains on foreign inflows

REUTERS: Sri Lankan shares ended at their highest level in over a year as foreign investors continued to buy blue chips after an annual trade concession worth US $300 million from the European Union (EU) added fuel to a rally that started towards the end of March.

AIA Insurance Lanka March profit declines amid higher claims and expenses

AIA Insurance Lanka PLC (AIA), the local unit of Asia-based AIA Group Limited, reported earnings of Rs.71.2 million or Rs.2.32 a share for its March quarter 2017, a decline of 18 percent from a year ago as the company paid higher claims and benefits while the other expenses also rose.

Ceylinco Life breaks new ground with Sri Lanka’s first retirement resort

Can life truly begin at 60? Sri Lanka’s life insurance leader Ceylinco Life believes the answer is yes, for ‘active retirees’, and has created the country’s first retirement resort for this segment.

Union Bank introduces affordable transaction banking technology to SMEs

Union Bank recently hosted its small and medium enterprise (SME) clients in the Colombo region to an educational session on Union Bank Biz Direct.  

Landmark MoA paves way for CIMA members to obtain CA Sri Lanka membership

The landmark memorandum of agreement (MoA) signed between two of the country’s leading accounting bodies, has now paved the way for CIMA members to obtain the membership of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), the national body of accountants. 

Rupee edges down on importer dollar demand; stocks rise

REUTERS: The Sri Lankan rupee weakened slightly yesterday as mild importer dollar demand surpassed selling of the U.S. currency by exporters, dealers said.

Shares end at 1-yr high on foreign buying, trade concession

REUTERS: Sri Lankan shares hit a one-year closing high yesterday with foreign investors buying blue chips such as John Keells Holdings PLC and as the island nation regained a trade concession from the European Union (EU).

NDBIB goes regional with Ooredoo Maldives IPO

NDB Investment Bank (NDBIB) recently launched the Initial Public Offering (IPO) of Ooredoo Maldives PLC (Ooredoo Maldives) on the Maldives Stock Exchange acting as the lead financial advisor and manager to the IPO. 

London Stock Exchange wins Markets Choice Awards for ‘Best Global Exchange Group’

 London Stock Exchange Group (LSEG) won the prestigious award for ‘Best Global Exchange Group’ at the fifth annual Markets Choice Awards (MCAs) held in New York last month. 

IFC to provide up to US$50 mn senior loan to Nations Trust Bank

DEALSTREETASIA.COM: International Finance Corporation (IFC) has proposed to provide a senior loan of up to US $50 million to Sri Lankan mid-sized private commercial bank Nations Trust Bank PLC. 

BOC continues to dominate as No.1 brand for 9th consecutive year

Sri Lanka’s No.1 bank yet again reinstates itself as the No.1 brand in Sri Lanka for the 9th consecutive year according to the latest Brand Finance Sri Lanka’s records published on ‘Brands Annual’ by Media Services. 

Ironwood Investment ups stake in Abans Finance to over 30%

Ironwood Investment Holding (Pvt) Ltd. has increased its stake in Abans Finance PLC (AFSL) to 31.89 percent. Ironwood acquired 10.16 million AFSL shares for Rs.25 each through a rights issue, constituting 15.25 percent of the total shares in AFSL. Prior to the rights i

Epic Technology Group certified for latest ISO/ IEC 27001: 2013 version

Embarking on yet another milestone, Sri Lanka’s premier and award winning technology conglomerate - Epic Technology Group, synonymous for innovative technology solutions have been certified for the latest version

HNB appoints Majella Rodrigo as new Project Financing Business chief

HNB recently announced the appointment of Majella Rodrigo to head the bank’s Corporate Banking Project Finance team.

Investment incomes, contraction in fair value losses boost Union Assurance March profit

The John Keells group insurance subsidiary, Union Assurance PLC reported earnings of Rs.108.3 million or Rs.1.84 a share for the January-March quarter, rising as much as 77 percent from a year earlier supported by modest growth in life premiums.

Exciting new features in ComBank’s relaunched ‘Dotcom Teen Account’

Banking has just become more exciting for teenagers and pre-teens with the relaunch of ‘Dotcom Teen Account’ – the popular youth savings account of Commercial Bank of Ceylon, with a host of new features and benefits.

NDB balance transfer now at 2.5% minimum from 3 months up to 5 years

NDB introduced its credit card balance transfer option earlier this year to support you from overcoming your credit card balances through attractive interest rates.  NDB has continued to successfully offer options of choosing your own repayment period in equal instalments from three months and now up to five years. 

Britain’s Labour plans “Robin Hood Tax”, tax avoidance crackdown

REUTERS: Britain’s opposition Labour Party would crack down on tax avoidance and introduce a “Robin Hood Tax” on financial transactions to fund public services if it wins next month’s national election, it said on Saturday.

China-led AIIB expects to have 85 members by end-2017: president

REUTERS: China-backed Asian Infrastructure Investment Bank (AIIB) expects to have 85 members by the end of this year, its president Jin Liqun said yesterday.