SLID’s Board Secretaries Forum discusses directors’, company secretaries’ obligations under FIU

The Board Secretaries Forum, a joint initiative of the Sri Lanka Institute of Directors (SLID) and Institute of Chartered Corporate Secretaries of Sri Lanka, hosted a webinar and panel discussion on the role of the FIU and obligations of directors and company secretaries, complying with the anti-money laundering (AML)/combating the financing of terrorism (CFT) requirements recently.

Sampath Bank and NDB Bank underwrite Sarvodaya Development Finance IPO

The initial public offering (IPO) of Sarvodaya Development Finance (SDF) will open to the public on November 23 and will comprise an initial issue of 22,727,273 shares raising Rs.500 million, followed by a green shoe issue of a further 22,727,273 shares for an additional Rs.500 million.

Softlogic Finance back in black as company pivots to secured lending to tackle soaring NPLs

Softlogic Finance PLC returned to profit in the three months ended in September on very little provisions made for possible bad loans, after the company made a decision to curtail unsecured lending to small and medium enterprises, which caused severe stress on its asset quality and thereby its earnings for a considerable period of time.

Seylan Bank’s Mannar branch gets spacious new location

Seylan Bank, the Bank with a Heart, relocated its Mannar branch to a spacious new location on November 15, 2021.

Eshanth Wijesinghe joins LIC Lanka board

LIC Lanka (Ltd) welcomes Eshanth Wijesinghe on board as a Director, with effect from August 2021.

People’s Bank opens ATM at University Grant Commission

People’s Bank further expanded its wide ATM network by opening an ATM at the University Grant Commission on November 16.

iPay appointed as official LANKAQR acquiring partner of PickMe

The LANKAQR Nationwide Rollout Campaign was launched recently at the Central Bank of Sri Lanka (CBSL), with the aim of promoting LANKAQR payments amongst the small and medium merchants as well as consumers throughout the nation. During this national event, iPay ceremonially launched the fare enablement feature for QR payment acceptance for rides and deliveries carried out through PickMe.

DFCC Bank partners DFC for US $ 150mn bilateral loan to support MSME sector

DFCC Bank, one of the premier commercial Banks in Sri Lanka, in its path towards securing a resilient nation through the facilitation of equitable and inclusive economic growth, seeks to comprehensively utilise one of the largest credit lines of US $ 150 million available to the bank from the U.S. government’s International Development Finance Corporation (DFC).

LCB Finance to debut on CSE tomorrow

The initial public offering (IPO) by Lanka Credit and Business Finance Limited (LCBF), which successfully closed on October 26, 2021, within minutes of opening amidst strong investor interest, is set to debut for secondary market trading on the Colombo Stock Exchange (CSE) on November 16, 2021.

Sanasa General Insurance restrengthens corporate biz development unit

Sanasa General Insurance Company has restrengthened its corporate business development unit and the inauguration ceremony was held at the Sanasa Life insurance company auditorium earlier this month.

Jeevan receives GAFM Master Fintech Professional certification

Jeevan Gnanam, initiator of the HatchX: Sri Lanka’s pioneer fintech accelerator, was recently honoured by awarding the Global Academy of Finance and Management (GAFM)’s Certification - Master Fintech Professional, for his contributions towards the fintech sector, at Digital Finance Forum, which was held recently at Hilton Colombo.

People’s Bank marked yet another milestone in its award-winning, industry-leading digital transformation journey with the recent launch of People’s Pay Mobile Payment Wallet app.

LOLC Al-Falaah has yet again secured three top awards at the recently concluded 10th SLIBFI (Sri Lanka Islamic Banking and Finance Institutions) Awards 2020/21.

People’s Bank offers enhanced People’s Pay app

People’s Bank marked yet another milestone in its award-winning, industry-leading digital transformation journey with the recent launch of People’s Pay Mobile Payment Wallet app.

ComBank raises bar for payment authentication in Sri Lanka with Visa

Commercial Bank of Ceylon has become the first bank in Sri Lanka to deploy EMV 3DS fraud prevention technology in collaboration with Visa for authenticating payments made by credit, debit and pre-paid cards issued by the bank.

ComBank ranked among Sri Lanka’s 10 most women-friendly workplaces

Commercial Bank of Ceylon was among the top 10 winners at the inaugural Women Friendly Workplace (WFWP) Awards jointly pioneered by Satyn, Sri Lanka’s first online magazine for women and the Chartered Institute of Management Accountants (CIMA) Sri Lanka.

PLC debuts trilingual mobile application with unparalleled capabilities

Sri Lanka’s leading state-owned non-bank financial institution (NBFI) People’s Leasing & Finance PLC recently unveiled its mobile application – PLC Touch – to facilitate a convenient user experience.

NDB introduces ZEE digital youth account

NDB Bank introduces the brand-new ZEE digital youth account, an exclusive digital journey, in the form of a savings account tailor-made for the new generation.

SLIC Minimuthu Education plans secure future of children

Considering the growing education cost and necessity of having funds for the education, the national insurer Sri Lanka Insurance provides reliable insurance solutions allowing parents to secure a bright future for their children.

N-able expands business footprint beyond shores

N-able (Private) Limited, Sri Lanka’s leading technology solutions provider, advances into new frontiers by expanding its footprint beyond Sri Lanka to extend its design consultancy and engineering services to customers across prime international markets.

Big Bad Wolf extends online book sale

Big Bad Wolf Books has announced exciting news for everyone to hop on board the Wolf’s ship to browse and shop for hundreds and thousands of books at extremely affordable discounts on lk.bbwbooks.com for an additional four days until November 14, 2021.

Applications now open for SLASSCOM National Ingenuity Awards 2022

The fourth consecutive edition of Sri Lanka’s most sought-after SLASSCOM National Ingenuity Awards, which seeks to recognise and celebrate innovation in the IT/BPM sector of the country, is all set to take centre stage on February 25, 2022.

Sampath Bank-Damro support LANKAQR roll-out

Building on its long-standing efforts to drive the adoption and usage of LANKAQR-based payments in the island, Sampath Bank delivered LANKAQR payment acceptance capabilities to one of the country’s leading diversified conglomerates, Damro Group.

People’s Bank CLO launches ‘Legal Aspects Relevant to Banking Activities’

A book authored by People’s Bank Chief Legal Officer Muditha Peiris Karunarathne titled ‘Legal Aspects Relevant to Banking Activities’ was officially published recently.

NDB honoured at CIMA Sri Lanka Women Friendly Workplace Awards

NDB Bank, which has always made an effort to ensure gender equality within the workplace, received an honourable mention at the first-ever Women Friendly Workplace Awards (WFWP Awards) 2021, jointly pioneered by Satynmag.com and CIMA Sri Lanka.

Building on a wealth of experience

Having established itself as the preferred, full-service investment bank in Sri Lanka, the CAL group is expanding into overseas markets such as Bangladesh. As the group takes its first international steps forward as part of the group’s expansion strategy, we sat down with CEO Ajith Fernando, one of the founders of the CAL group, to hear first-hand about the company’s journey and vision for the future.

NSB among top 10 Women Friendly Workplaces

The first-ever Women Friendly Workplace Awards (WFWP Awards) 2021, jointly pioneered by Satynmag.com and CIMA Sri Lanka, was held recently at Cinnamon Grand.

HNB-Lakdhanavi partner to finance SL’s first-ever LNG-based combined cycle power plant

Hatton National Bank PLC (HNB) embraced a timely partnership with Lakdhanavi Ltd (a member of LTL Holdings Group) to serve as the arranger/lead banker to a syndicated loan facility together with several other commercial banks for the development of 350 megawatt (MW) first-ever liquefied natural gas (LNG)-based combined cycle power plant in Kerawalapitiya.

ComBank partners Central Bank’s nationwide rollout of LANKAQR

The Commercial Bank of Ceylon recently participated in the Central Bank of Sri Lanka’s (CBSL) ‘rgmqrdu LANKAQR’ programme’s nationwide rollout campaign to promote cashless digital payments via the LANKAQR platform.

Assetline lease payments ‘on the way’ at Cargills Food City

Enhancing convenience and accessibility while continuously adding value to their offerings, Assetline Leasing entered into an agreement with Cargills Bank to facilitate leasing payments via any of the over 460 Cargills Food City outlets Island wide.

DFCC 3Q profit soars on higher loans and trading gains

DFCC Bank PLC delivered some solid financial performance for the three months to September, as the bank continued to grow its loans while the trading of foreign exchange added a massive gain in the three months characterised by the extreme volatility in the domestic foreign exchange market.