Indonesia penalises JPMorgan for ‘underweight’ call: officials

REUTERS: Indonesia will drop JPMorgan Chase & Co from providing some services to the government after the bank’s research arm said investors should reduce their exposure to the country, senior finance ministry officials said yesterday.

Kanrich Finance transforms Kegalle branch to serve customers better

With a prestigious history of 45 years and trusted excellence backed by loyal customers who have been the source of strength, Kanrich Finance Limited with the intention of delivering an advanced and highly effective service to its trusted clientele launched its branch in Kegalle recently. 

Seylan Bank commences work for 2017

Seylan Bank commenced work for the year 2017 after religious ceremonies held at the Seylan Bank head office. Seylan Bank PLC Chairman Ravi Dias, Director/Chief Executive Officer Kapila Ariyaratne, Director Rear Admiral Ananda Peiris with the senior management and other officials also participated in the religious ceremonies.  

HSBC takes cardholders one step closer to a world of possibilities

A new year – a new beginning. Dream big and reach higher this year. Live up to all those resolutions you’ve made over the years. Apply for your HSBC credit card and get one step closer to a world of benefits and privileges. Your HSBC credit card opens doors to a world of possibilities that spans end to end of your lifestyle – from daily essentials to luxurious indulgences, from simple pleasures to ambitious grand plans. There&rs

Sri Lanka Insurance inaugurates business activities for 2017

The inauguration of business activities at Sri Lanka Insurance (SLI) took place on January 2 amidst a distinguished gathering comprising Public Enterprise Development Minister Kabir Hashim, Public Enterprise Development Deputy Minister Eran Wickremaratne and Joint Managing Directors T.M.R. Bangsa Jayah and Aruna Siriwardena. 

NTB introduces Nations Max Bonus account with 60% bonus interest on savings

Nations Trust Bank (NTB) yesterday unveiled the Nations Max Bonus savings account.  With Nations Max Bonus, you will be able to enjoy the best yields for savings accounts and relax with the knowledge that your savings are safe with one of Sri Lanka’s most trusted banks, whilst generating a handsome return.

State Bank of India cuts lending rate by 90 bps across maturities

REUTERS: State Bank of India, the country’s biggest lender by assets, said yesterday it had cut its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits.

Deutsche Bank agrees to US $ 7.2bn mortgage settlement with US

REUTERS:  Deutsche Bank has agreed to a US $ 7.2 billion settlement with the US Department of Justice over its sale and pooling of toxic mortgage securities in the run-up to the 2008 financial crisis. The agreement in principle, announced by Deutsche Bank’s Frankfurt headquarters early Friday morning, offers some relief to the German lender, whose stock was hit hard in September after it acknowledged the Justice Department had been see

ComBank opens Deiyandara and Morawaka branches

Commercial Bank of Ceylon has strengthened its presence in the deep south of Sri Lanka with the opening of two branches in Deiyandara and Morawaka.

Amana Bank in talks with foreign parties to raise minimum core capital

Amana Bank PLC, Sri Lanka’s first non-interest model Islamic bank, is in talks with prospective foreign parties to infuse equity capital to meet the regulatory minimum capital requirements, the bank said in a stock exchange filing. 

Amex offers savings, interest-free plans for cardmembers this New Year

For a New Year’s resolution to be successful we need focus, consistency, commitment, resources and above all, a plan. This is what Nations Trust American Express provides its esteemed 

Sampath Bank launches special gift scheme for savings accountholders

Sampath Bank will yet again gratify its savings accountholders with a special gift scheme from January 1, 2017. 

ComBank affirmed Best SME Bank in Sri Lanka

The Commercial Bank of Ceylon has been declared the‘Best SME Bank’ in Sri Lanka in 2016 by International Finance Magazine (IFM) of the UK, for ‘making a significant difference and adding value, and achieving the highest standards of innovation and performance’for Small and Medium Enterprise clients. 

ICICI Bank joins LankaPay Common ATM Network

ICICI Bank, India’s largest private sector bank by consolidated total assets, recently joined ‘LankaPay Common ATM Network’, the national payment network that facilitates high quality electronic financial services at affordable prices in a secure, reliable and convenient manner to all in Sri Lanka. 

LB Finance wins Gold, Silver and Bronze at Annual Report Awards

LB Finance PLC clinched 3 elite awards at the 52nd Annual Report Awards organized by the Institute of Chartered Accountants of Sri Lanka for their excellent performance, topping all achievements.  The event renewed recognition and reputation for enhanced financial reporting standards in the corporate sector of Sri Lanka in line with global benchmarks.

Catering to future generation will be challenging: DFCC Senior Vice President

DFCC Bank will launch a unique savings proposition for families with the objective of empowering them to build a secure financial foundation in the New Year. This scheme will be launched on the 1st of January and all DFCC’s branches will be open to welcome customers for business as usual. In this interview, DFCC’s Senior Vice President, Consumer Banking, Gillian Edwards, talks about this special offer in detail.

BOC 18 SmartGen Plus offers scholarships for 2017 A/L highflyers

As students get ready to face their Advance Level in the year 2017, the Bank of Ceylon is set to reward their achievement with a valuable scholarship award. 

Fairfax Financial to acquire Allied World for US$ 4.9bn

Fairfax Financial Holdings Limited (Fairfax) and Allied World Assurance Company Holdings, AG (Allied World) announced that they have entered into a merger agreement, pursuant to which Fairfax will acquire all of the outstanding registered ordinary shares of Allied World.

NDB offers biggest bill wipe out and much more this season

This holiday season will ring out good news for NDB Good Life cardholders with great deals while using their NDB Good Life cards this festive time of the year.

AirCoin International and Epic partner to launch travel service and payment platform

The Australian based start-up M/s AirCoin International joint hands with Epic Technology Group of Sri Lanka’s, a premier technology conglomerate synonymous for innovative FinTech Solutions, to develop and launch a ‘one of its kind’ payment platform, which is set to revolutionize the global travel market. 

Seylan’s Tikiri promo gives fresh start to new school term

The beginning of a new academic year provides a fresh start for students to reignite their love for learning - and starting the first day of school with new school supplies is a wonderful feeling for children. 

CDB excels at National Business Excellence Awards

At the recently concluded National Business Excellence Awards organised by the National Chamber of Commerce,

DFCC Bank to launch unique savings proposition

DFCC Bank, a keen proponent of savings is launching a unique scheme that encourages customers to make savings a family habit. 

ComBank receives 10th Bank of the Year award in London

Commercial Bank Managing Director/CEO Jegan Durairatnam was in London earlier this month to accept the Bank of the Year award presented by The Banker magazine at a gala black-tie dinner at Hilton London Bankside. This was the 10th time Commercial Bank has won this prestigious award, thus becoming one of the few banks in the world to achieve this feat. 

LankaClear wins Gold at Annual Report Awards

LankaClear (Pvt.) Ltd, the operator of LankaPay – Sri Lanka’s national payment network, swept the coveted Gold award at the 52nd Annual Report Awards held recently. 

SampathCards continues to take brand to greater heights

Mirror Business recently met with Sampath Bank PLC Consumer Banking Senior DGM Tharaka Ranwala to get his views on the bank’s and nation’s renowned credit card brand – SampathCards.  Below are the excerpts.

ComBank wins six awards including Best in Banking Sector

The Commercial Bank of Ceylon won six awards including the Edmund J. Cooray Memorial Trophy for the Best Annual Report among banking institutions, at the 52nd Annual Report Awards of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), reaffirming the Bank’s commitment to excellence in financial reporting.

Ukraine leader urges calm after big bank nationalised

AFP - Ukrainian President Petro Poroshenko urged people yesterday not to panic after his government nationalised the country’s largest private bank to avoid a rapid financial meltdown. The former Soviet republic’s cabinet on Sunday took over PrivatBank -- a lender that held one-third of Ukrainians’ bank deposits and even had branches in the Baltic states.

Union Assurance offers ‘Union Smart Health’

Union Assurance in its efforts to showcasing the path towards enduring success has made its efforts to revolutionize the Sri Lankan insurance industry by continuously bringing forth innovative and creative solutions. 

Sarvodaya Development Finance excels at Annual Report Awards 2016

Sarvodaya Development Finance bagged the compliance award in the finance companies and leasing companies sector at the 52nd annual report awards 2016 which was organized by the Institute of Chartered Accountants of Sri Lanka.