Deloitte overtakes PwC as world’s largest firm

Deloitte powered ahead in 2016 as its global fee income grew by 5 percent to US $ 36.8 billion (£ 29.52 billion), nudging it ahead of Big Four rival PwC. 

Top BDO International delegation visits CA Sri Lanka

A top delegation from BDO International including its Chief Executive Officer Martin van Roekel and CEO Asia Pacific Stephen Darley visited the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently. 

Avurudu begins early with NTB credit cards

Avurudu is the festive season that all Sri Lankans wait for, regardless of ethnicity. Apart from kavum, kokiss and games in the sun, what most Sri Lankans wait for are the excellent savings and offers to be had during Sri Lanka’s most festive season. That is why Nations Trust Bank (NTB) has gone the extra mile in an effort to bring its cardmembers the best Avurudu offers even before the season properly begins. 

‘Be Bold’ this Int’l Women’s Day; secure your financial future with NDB Wealth

With the International Women’s Day only a few days away, the time to ‘Be Bold For Change’ is now – and what better way to take that big leap towards ultimate financial freedom and parity than finally taking charge of your own financial future.

Fitch affirms Ceylon Dollar Bond Fund at ‘B+f/S5’

Fitch Ratings has affirmed Ceylon Dollar Bond Fund’s international fund credit quality rating at ‘B+f’ and fund market risk sensitivity rating at ‘S5’. The fund is managed by Ceylon Asset Management (CAM).

ComBank fetes top customers and business partners in Abu Dhabi

The Commercial Bank of Ceylon recently hosted the bank’s top customers and business partners in the United Arab Emirates, a country with an expatriate Sri Lankan population estimated at 300,000. Popular Sri Lankan artistes Bhathiya, Santhush and Umaria provided entertainment for this event titled ‘Combank Elite Night’at the Intercontinental Hotel in Abu Dhabi.

InsureMe unveils customized corporate insurance web platform

Having launched Sri Lanka’s first insurance comparison web platform, technology-driven insurance broking company InsureMe Insurance Brokers (Pvt) Limited introduced yet another innovative concept to the corporate world. 

Oracle and Mastercard to deliver seamless payments

Mastercard announced a global partnership with Oracle that is designed to deliver a streamlined digital payment experience to the retail and hospitality industries at the Mobile World Congress. The partnership will initially focus on three needs for restaurants, hotels and retail stores:

Early Avurudu gifts offer from Union Bank

Union Bank launched ‘KalinAvuruduGanudenu’, an early-bird offer of exciting gifts for savings; in preparation for the upcoming Sinhala and Tamil New Year.

Ceylinco Insurance records strong growth in 4Q , FY16

Ceylinco Insurance PLC, which runs Sri Lanka’s market leading life insurance business based on gross written premiums (GWPs), recorded earnings of Rs.87.19 a share or Rs.2.3 billion for the December quarter (4Q16), up 38 percent year-on-year (YoY), the interim financial accounts showed. The GWPs of both life and non life for the quarter rose 9 percent YoY to Rs.8.3 billion while the insurance group paid claims and benefits amounting to Rs.3

HNB inaugurates fully-fledged customer centre at Asiri Surgical

Delivering an unprecedented new level of banking convenience to patients, visitors, and employees, Sri Lanka’s largest private sector bank, HNB PLC in partnership with the Softlogic Group’s healthcare arm, Asiri Health, opened its newest fully-fledged customer service center at Asiri Surgical Hospital.   Offering a comprehensive list of banking products and services, the new branch will be open from 9 am to 3 pm on weekdays, and

NITF procures reinsurance cover for agriculture insurance

State-owned National Insurance Trust Fund has concluded the procurement of a reinsurance programme for its agricultural insurance schemes. 

‘Dine and Smile’ promo back with more options for ComBank cardholders

If good dining brings smiles to the diners, Commercial Bank’s credit and debit card holders will be smiling a lot over the next two months as they enjoy the Bank’s latest ‘Dine & Smile’ promotion.  Sixty four popular restaurants including 40 located within 21 leading hotels will offer discounts of 30 percent on ComBank credit cards and 20 percent on ComBank debit cards till 10th April 2017, the bank announced.

Unbeatable discounts with NDB ‘Good Life’ credit cards

NDB Good Life credit cards has now become better than ever, with amazing discounts on leading supermarkets, branded clothing and much more. 

CLSA shuts US equity research arm

REUTERS: The equities research division of the Americas unit of Hong Kong-based brokerage CLSA has been shut down, a spokeswoman said on Monday, clarifying an earlier report that the entire Americas section would be closed.

Indra Traders partners with HNB to offer host of new benefit packages

Commencing in February this year, the nation’s premier vehicle importer and distributor, Indra Traders, struck a partnership with Sri Lanka’s leading private sector bank, Hatton National Bank (HNB), to offer customers mega benefits in addition to purchasing a top-of-the-line vehicle. 

NTB rewards 50 Amex cardmembers with latest iPhone 7

Strengthening its fundamental ethos of rewarding customer loyalty, Nations Trust Bank (NTB) rewarded 50 American Express (Amex) cardmembers with Apple’s latest flagship device at the Abans iStore recently.

AIA Group expands new business despite China curbs

REUTERS: AIA Group Ltd, the world’s third-largest life insurer by market value, said on Friday new business rose 28 percent in 2016, buoyed by strong customer demand in its main markets in China and Hong Kong.

New S&P SL 20 entrant Teejay Lanka opens trading at CSE

Teejay Lanka PLC rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) recently. The bell ringing ceremony was organised by the CSE to celebrate Teejay as the latest addition to the S&P Sri Lanka 20 Index. 

Pan Asia Bank’s December net profit up 19% to Rs.346mn

Pan Asia Banking Corporation PLC (PABC), a mid-sized bank, reported earnings of Rs.4.65 a share or Rs.346 million for the October-December quarter, up 19 percent year-on-year (YoY), the interim financial accounts showed.  

ComBank named Best Internet Bank in Sri Lanka

Commercial Bank of Ceylon has been recognised as the Best Internet Bank in Sri Lanka in 2016 by the prestigious Global Banking & Finance Review of the UK.

People’s Leasing & Finance appoints Ahmad Ibrahim as CEO-Designate

People’s Leasing & Finance PLC has appointed Ahamed Sabry Ibrahim as the CEO-Designate with effect from November 15, 2016, as the long-standing CEO D.P. Kumarage is set to retire.  

DFCC Bank 4Q profit jumps 74% but core banking under pressure

Specialized project financier turned a fully-fledged commercial bank, DFCC Bank PLC, saw its December quarter (4Q16) earnings soaring 74 percent from a year ago to Rs.759.1 million or Rs.2.86 a share, largely supported by trading and other incomes, provision reversals and notable decline in overheads other than staff costs, the interim results showed. 

NDB mulls fresh capital infusion as December quarter profits slip 42%

The National Development Bank PLC (NDB) group, a leading project lender in the country, saw its performance being negatively affected by the rising interest rates as the loan growth slowed significantly while the margins remained stubbornly lower as the low-cost fund base narrowed.

India cenbank policy panel cites concerns about inflation

REUTERS: The Reserve Bank of India’s six-member monetary policy committee cited concerns about inflation in holding rates in February, with three mentioning the need to shift the policy stance to “neutral” from “accommodative,” minutes from the meeting showed.

EPIC Technology on show at Mobile Money & Agent Banking Summit in Myanmar

Sri Lanka’s premier and award-winning technology conglomerate, Epic Technology Group, synonymous for innovative world-class technology solutions, was on show at the eighth Annual Mobile Money & Agent Banking Summit 2017, held in Myanmar on February 21 and 22.

CMA integrated reporting workshop on Feb. 28

The Institute of Certified Management Accountants of Sri Lanka (CMA)-organised ‘Integrated Reporting - Practical Aspects’ workshop will be held on Tuesday, February 28, 2017, at Taj Samudra, Colombo, from 1:30 p.m. to 5:00 p.m. 

NTB unveils new Ward Place branch

On February 21, 2017, Nations Trust Bank (NTB) unveiled its new Ward Place branch, located at Number 16, Ward Place, Colombo 7. 

Mastercard indulges cardholders with year-round savings on travel and dining

Mastercard rolled out a host of year-round, premium travel and dining privileges for cardholders in Sri Lanka with up to 30 percent savings at some of the country’s finest dining establishments, hotels, resorts and spas. 

Visa makes major IoT play with IBM partnership

IBM this week announced the industry’s first collaboration that brings the point of sale everywhere Visa is accepted, by allowing businesses to quickly introduce secure payment experiences for any device connected to the Internet of  things (IoT).