Ideal Motors ties up with Vallibel Finance; offers special deal for Mahindra

?Vallibel Finance and Ideal Motors, the sole agent in Sri Lanka for Mahindra have partnered, presenting a special bundle offer to new Mahindra customers. 

HNB wins award for Excellence in Training & Development

?Hatton National Bank PLC was awarded the “Excellence in Training & Development – Overall Award for Best Results Based Training” at the Asia’s Training & Development Excellence Awards 2015 held on 12 August in Singapore. 

ComBank ATMs facilitate eZ Cash withdrawals

?eZ Cash Sri Lanka’s premier Mobile Money service partners with Sri Lanka’s largest private sector bank, Commercial Bank of Ceylon PLC, to give eZ Cash customers the ability to withdraw cash from selected ATMs island wide. 

Union Bank further expands ATM network

?Union Bank of Colombo PLC (UBC) is proud to announce the opening of five new ATMs in the Western Province, further enhancing its ATM network across the island. 

CLC launches Islamic Finance

?Embarking on another revolutionary financial service provision, Commercial Leasing and Finance PLC recently introduced ‘CLC Islamic Finance’ with the purpose of meeting the financial needs of many existing and potential customers within the Sri Lankan community.

First Capital Holdings maintains momentum

?First Capital Holdings PLC recorded a consolidated profit after tax of Rs.176 million for the quarter ended June 30, 2015.  

Orix Finance to change name to LOLC Finance

?The shareholder nod has been obtained to change the name of Lanka Orix Finance PLC to LOLC Finance PLC, the company said in a stock filing. Lanka Orix Leasing Company PLC owns 90 percent of the equity capital of the company.

HSBC Sri Lanka wins Best Consumer Digital Bank Award 2015

?HSBC Sri Lanka has once again been recognised for its digital capabilities by winning the Best Consumer Digital Bank Award in Global Finance’s World’s Best Digital Bank Awards for 2015 (formerly known as the Best Internet Bank Awards) 

SampathCards offers reviving holiday deals

?Being ‘The Responsible Choice’ and dedicated to offering the best value-added benefits to cardholders, SampathCards has once again successfully identified and understood its cardholder’s needs this holiday season. 

Asian Alliance strengthens presence in Central Province

?Asian Alliance Insurance has opened a new general insurance branch in Kandy, thereby providing enhanced access to its customers in the Central Province and strengthening its presence in Kandy.  

NSB records Rs. 6 bn 1H profit with 68% growth

?National Savings Bank (NSB) recorded the highest half yearly profits in its history with an impressive Profit Before Tax (PBT) growth of 68 percent as compared to same period last year. 

People’s Leasing & Finance excels at SLIM – NASCO 2015

?People’s Leasing & Finance PLC bagged two Gold awards and two Bronze awards under financial products and services category at the 15th SLIM-NASCO awards ceremony held at the Waters Edge, Battaramulla recently.

Fitch affirms Standard Chartered Bank, Sri Lanka branch at ‘AAA(lka)’

Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable.

Fitch assigns ratings to Sri Lanka’s HDFC Bank

?Fitch Ratings has assigned Housing Development Finance Corporation Bank of Sri Lanka (HDFC Bank) a National Long-Term Rating of ‘BBB(lka)’ and a Stable Outlook. 

China to allow pension fund to invest in stocks

REUTERS: China will allow its huge state pension fund to invest in domestic stocks in the wake of a massive market sell-off, it was announced recently.

Sri Lanka rupee weakens to 134.10 to dollar

?Sri Lanka’s rupee weakened to 134.10 to the US dollar after authorities dropped the intervention rate by 10 cents, dealers said yesterday.

M Power Capital celebrates one year in business

?M Power Capital Limited (MPC), the Colombo-based corporate finance advisory and private equity group, is celebrating its first anniversary.   

Insurance Institute of India to support SLII in Insurance education

A high ranking team from the Insurance Institute of India (III) visited Sri Lanka recently. The team comprised of P Venugopal (Secretary General)

DFCC and DVB introduce financial solutions beyond banking

?DFCC Bank, the country’s leading development bank and its commercial arm DFCC Vardhana Bank (DVB), introduced Bancassurance, to offer their customers a combined banking and insurance solution.  

Union Assurance General rewards loyal customers

?Union Assurance General has set out to reward its loyal customers through their recently initiated Customer Loyalty  Reward scheme. 

BOC rewards babies born in August to mark 76th anniversary

?In celebration of the Bank’s 76th Anniversary, Bankers to Nation – Bank of Ceylon will reward babies born in the month of August 2015 with cash rewards. This promotion is valid for babies born between 1st to 31st August 2015. 

HNBA posts Rs. 79.5 mn 1H PAT amid challenging market conditions

HNB Assurance PLC (HNBA) continued to maintain its growth momentum in the 1st half of 2015, in challenging market conditions. The group recorded a 19 percent growth in consolidated premium income amounting to Rs 2.68 billion up from the 2.25...

Softlogic Finance records improvements in key financial indicators in 1Q

?Softlogic Finance PLC’s new business model has paid rich dividends in the first quarter of the 2015/16 financial year, with the company achieving impressive improvements in a range of key indicators. 

Orient Finance signs MoU with Senok Commercial Vehicles

Orient Finance signs MoU with Senok Commercial Vehicles Orient Finance (OFL) and Senok Commercial Vehicles (Pvt) Ltd (SCV) signed a Memorandum of Understanding (MoU) to facilitate the provision of a novel service specialty—the Senok-Orient Trade-in Offer. 

Sri Lanka attends GOSS Private Equity, Risk Management Annual Joint Conference

The second GOSS Private Equity and ninth Risk Management Annual Joint Conference was held on 30 – 31 July 2015 at St. Regis Hotel in Singapore.  National University of Singapore (NUS) Risk Management Institute (RMI) is one of the leading pioneers of financial risk management research in Asia. 

Union Assurance records steady progress up to 1H 2015

Union Assurance PLC (UA) recorded a steady growth in Gross Written Premium (GWP) and profits as at the end of the 2nd quarter of 2015. 

Nawaloka Hospitals recognized at CMA Excellence in Integrated Reporting Awards

Nawaloka Hospitals was recognized by the Institute of Certified Management Accountants (CMA) of Sri Lanka for Excellence in Integrated Reporting at their inaugural awards ceremony held recently at Hotel Cinnamon Lakeside. Nawaloka Hospitals

HDFC Bank 1H profits up 49% to Rs. 276 mn

Housing Development Finance Corporation Bank of Sri Lanka (HDFC Bank) has recorded Rs. 388.9 million profit before tax (PBT) in the 1H of the year 2015 as against Rs. 310.5 million in the corresponding period of 2014, an increase of 25 percent.

CDB shines at SLIM NASCO Awards

?Two of Citizens Development Business Finance PLC (CDB) star performers won awards at the recently concluded National Sales Congress Awards (NASCO) organised by the Sri Lanka Institute of Marketing (SLIM).

Vallibel Finance FDs swell by 31% to cross Rs. 12 bn threshold

?Vallibel Finance affirmed its continuing ascendancy, announcing yet another impressive performance in 2014-15.  Pre-tax profits soared by 28 percent to exceed Rs.623 million over the previous year’s Rs.489 million.