NDB wins three top titles at CMO Asia Awards

?NDB received three awards of excellence for ‘Best use of Facebook’, ‘Best use of Social Networks’ and the ‘Award for Brand Excellence in the Banking Sector – Sri Lanka’ at the 6th CMO Asia Awards for Excellence in Branding and Marketing recently held in Singapore. 

Mercantile Investments expands branch network

Having made a significant progress especially in the financial year 2014/15, Mercantile Investments has made a substantial performance in providing financial solutions within the industry.

Yuan slide seen adding to StanChart’s Asian challenges

?REUTERS: Already faced with a battle to revive the fortunes of banking group Standard Chartered , new Chief Executive Bill Winters is now confronted with another challenge in the shape of China’s yuan devaluation.

LOFC relocates Ambalangoda branch to support increased business portfolios

?Due to the increased demand for its services, Lanka ORIX Finance PLC (LOFC) moved its existing branch in Ambalangoda to a new and spacious location at the New Road, Ambalangoda recently.

DDFC re-launched as Sarvodaya Development Finance

?Deshodaya Development Finance Company Ltd (DDFC), a subsidiary of the Sarvodaya Economic Enterprise Development Service (SEEDS) has been re-launched as Sarvodaya Development Finance Limited. 

ComBank honoured at Asia’s Best Employer Brand Awards

?Commercial Bank’s status as one of the best employers and HR practitioners in Sri Lanka was reaffirmed recently with two international awards at the 6th Asia Best Employer Brand Awards in Singapore.

MBSL records Rs.92 mn turnaround 2Q net profit

?Merchant Bank of Sri Lanka & Finance PLC (“MBSL” or the “Company”) demonstrated a remarkable turnaround in performance during the quarter ending 30th June 2015 to record a net profit of Rs.92.44 million, compared to a loss of Rs. 30.26 million in the corresponding quarter of last year. 

LOLC’s ‘Al-Falaah Takaful’ celebrates successful first year

?“Al-Falaah Takaful”, the Motor Takaful window operated by LOLC Insurance Company Limited celebrated a successful and promising first year in the fast expanding Takaful industry.  

FMO and DEG assistance to develop actuarial talent at Asian Alliance Insurance

With Sri Lanka’s insurance industry set to grow exponentially in the coming years, actuarial expertise, which is at the heart of the insurance business, needs to be greatly strengthened and is a big priority for the progression of the local insurance industry.

UAG-AMW to provide roadside assistance to female policyholders

Union Assurance General (UAG) is set out to work together with Associated Motorways (Pvt.) Ltd (AMW) in a joint initiative where UAG female policyholders will be granted roadside assistance in the event of a vehicle breakdown or any type ...

Seylan Bank boosts vehicle leasing sector

?Seylan Bank PLC, a leader in providing innovative banking solutions in the local market, championing the leasing category, has partnered as the title sponsor for the upcoming Seylan Colombo Motor Show 2015, which is the largest automobile exhibition held in Sri Lanka. 

Sampath group records Rs.4.7bn pre-tax profit in 1H

?The Sampath group recorded half-year growth in profitability with a pre-tax profit of Rs.4.7 billion, an increase of 32 percent over the previous year’s first half pre-tax profit of Rs.3.6 billion. 

NTB launches unique vehicle finance proposition

?Nations Trust Bank (NTB) recently launched its unique vehicle finance proposition targeting the salaried and professional segments in the market. 

Janashakthi records double digit growth in first half

?Janashakthi Insurance PLC posted a year-to-date gross written premium (GWP) of Rs.4.9 billion as of June 30, 2015, a 15 percent growth year-on-year, to end the first half of the year with after tax profits of Rs.200 million.

Stock market records 2.4% growth so far this year

?Contrary to the general perception the stock market has recorded a growth of 2.4 percent so far for this year. The benchmark All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) has gone up from 7,298.9 points as at the beginning of the year to 7,471.9 points as at August 12, 2015.

BOC supports tea factory owners build working capital

?Bank of Ceylon (BOC) has launched a special loan scheme for tea factory owners to build working capital with the direction received from the Finance Ministry and Central Bank of Sri Lanka (CBSL). 

HSBC Sri Lanka wins Best Consumer Digital Bank Award for 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). 

Central Bank issues fresh statement over 30-year bond issue

The Central Bank on Wednesday issued a detailed statement over the controversial 30-year bond issue. The statement explains the decision taken by the Central Bank in February 2015

JAT shines at NASCO Awards

?JAT Holdings walked away with two Gold awards, a Silver award and a Bronze award at the SLIM NASCO Awards 2015, showcasing the excellence of the sales force at JAT Holdings.

SLIM “Gamata Marketing” adds new flavour with “Fish Bonanza”

The Department of Marketing, Faculty of Management and Finance, at the University of Ruhuna, in collaboration with the Sri Lanka Institute of Marketing (SLIM)...

People’s Leasing & Finance strikes Gold and Bronze

?People’s Leasing & Finance PLC the foremost finance company in Sri Lanka’s non-bank finance sector 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.

SLIM signs MOU with Janashakthi to train senior sales personnel

In its bid to professionally qualify corporate sector personnel in sales and marketing, the Sri Lanka Institute of Marketing (SLIM) ties-up with organizations regularly to conduct professional courses, PCM (Preliminary Certificate in Marketing) ...

ICRA Lanka assigns Commercial Credit and Finance [SL]BBB rating with stable outlook

ICRA Lanka Limited, a wholly owned subsidiary of ICRA Ltd, a group company of Moody’s Investors Service has assigned...

ComBank’s ‘Dine and Smile’ promo back with 58 restaurants

The Commercial Bank has announced a second ‘Dine and Smile’ dining out promotion for 2015,

MasterCard facilitates shift to chip and pin based cards

MasterCard shed light on the rising shift to EMV technology, the biggest change to hit the payment industry in over 40 years,...

ComBank Balangoda branch moves to new eco-friendly building

?Commercial Bank of Ceylon has developed a new eco-friendly model for branches in buildings owned by the bank, in yet another initiative to align its operations with the needs of the planet.

NAFLIA unites life insurers to launch national awareness campaign

?Fifteen life insurance companies came together in Colombo recently to take the first step in a joint initiative to promote life insurance to a million people in September, designated Sri Lanka’s ‘Life Insurance Awareness Month’.

Asian Alliance Insurance posts 31% growth in life GWP in 1H

Asian Alliance Insurance that is part of the Softlogic group, posted an impressive 31 percent growth in top line life gross written premium (GWP) thereby reinforcing its position as the fastest growing insurer in the top league of the industry. 

Fitch to host Sri Lanka Investment Fund & Asset Management Forum on September 17

?Fitch Ratings Lanka Ltd is to host its inaugural Investment Fund & Asset Management Forum on Thursday, September 17, 2015, from 5:30 p.m. to 8:30 p.m., at On Golden Pond, Taj Samudra Hotel, 25 Galle Face Centre Road, Colombo.

Foreign investors sell down more Sri Lanka bonds

economynext: Foreign investors sold down Rs.17 billion of bonds (US $ 125 million) in the week to August 05, 2015, official data showed,