Ceylinco General Insurance records Rs.18bn premium income in 2017

Ceylinco General Insurance Ltd., announced results for the financial year ended 31st December 2017 recently.

Union Bank Biz Direct powers UA with cutting-edge cash management technology

Union Bank partnered Union Assurance PLC (UA) with the bank’s revolutionary cash management solution Union Bank Biz Direct, enabling greater cash management efficiency for the leading insurer.

Fitch rates ComBank’s Basel III sub debt ‘AA-(lka)(EXP)’

Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (CB, AA(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures of up to Rs.10 billion an expected National Long-Term Rating of ‘AA-(lka)(EXP)’.

PNB detects US $1.77bn fraud in latest India bank case

REUTERS: India’s Punjab National Bank (PNB) has detected fraudulent transactions worth $1.77 billion at a single Mumbai branch in a case that could affect more banks and raise fresh questions about lending procedures at Indian banks mired in soured debt.

Richard Pieris Finance opens 8th branch in Kurunegala

Richard Pieris Finance Ltd, the only finance company belonging to the Richard Pieris group, opened its eighth branch in Kurunegala recently. The new branch of Richard Pieris Finance offers a wide-ranging portfolio of services, which includes fixed deposits, leasing, hire purchase, Islamic finance, savings, business loans and home loans. 

NDB Araliya provides life insurance

National Development Bank PLC (NDB) Araliya is a unique financial proposition that will focus on developing a woman’s life not only in terms of financial well-being but also in developing her skills, health and intellectuality whilst giving her the strength, security and confidence to realize aspirations in her journey of life. 

Insurance industry records 15.5% GWP growth in 3Q17

The insurance industry was able to achieve a growth of 15.53 percent (3Q 2016: 16.97 percent) in terms of overall gross written premium (GWP), at the end of the third quarter of 2017, recording an increase of Rs.15, 862 million when compared to the same period in the year 2016.

Cargills Bank partners Ria to strengthen remittance services

Cargills Bank has partnered with Ria Money Transfer (Ria), one of the world’s leading money transfer companies, to enhance and strengthen its remittance services.

Sampath Bank first to accept Alipay payments in Sri Lanka

Sampath Bank, one of Sri Lanka’s most innovative banks, has become the first bank in the country to partner with Alipay, the world’s largest online and offline payment platform operated by Ant Financial Services Group.

PABC rewards top sales performers

Pan Asia Banking Corporation (PABC) recently awarded the branch staff, who performed exceptionally on credit card and personal loan sales in year 2017.

Seylan Bank honours top performers at Annual Sales Conference and Awards

Seylan Bank felicitated the top performers of 2017 at the bank’s Annual Sales Conference and Awards, which concluded at the Hilton Colombo  Residencies recently.

BOC launches flagship ‘BOC DIGI’ at Kandy City Centre

Bank of Ceylon (BOC), recognised as Sri Lanka’s number-one brand, as part of its digitalisation journey launched its first flagship ‘BOC DIGI’ in Kandy City Centre recently.

NDB to strengthen country’s senior citizens and pensioners

NDB Achara solely dedicates itself into lending a helping hand towards the senior citizens and the pensioners of our country.

HNB recognised for innovation in microfinance at IFM Awards

Extending a winning legacy that spans over 29 years in the field, HNB won the award for ‘Most Innovative Microfinance Bank in Sri Lanka’, at the recently concluded International Finance Magazine Awards (IFM) 2017 in Singapore.

Combank sets digital banking record in 2017 with Rs.663 bn in transactions

A whopping Rs.662.95 billion was transacted through digital banking channels alone, by customers of the Commercial Bank of Ceylon in 2017.

Seylan Bank partners LankaPropertyWeb.com to offer premium home loan facilities

Seylan Bank recently entered into a partnership with LankaPropertyWeb.com, Sri Lanka’s largest property manager to offer premium home loan facilities.

Kanrich Finance appoints new chairman

Kanrich Finance, spanning over 45 years of extraordinary service in the Sri Lankan finance industry, announced recently that former Chairman P.A. Pemathilaka has retired from his exceptional service towards Kanrich and Dr. W.M. Hemachandra, an outstanding figure in the Sri Lankan financial sector, is appointed as the new chairman of Kanrich Finance.

Nations Trust Bank and Unigiros reward inward remittances

Nations Trust Bank partnered with Unigiros, a remittance services provider in Israel, to facilitate easy remittances to Sri Lanka for the growing Sri Lankan community in Israel.

IFRS 9 to drive modest rise in insurers’ income volatility: Fitch

Insurers are likely to see a moderate increase in investment income volatility following the implementation of IFRS 9 accounting standards for financial instruments at the start of 2018, as more financial assets will be valued on a fair-value basis, says Fitch Ratings.

Exclusive offers for Amex card-members through NTB partnership with Sound of Music

The world-renowned Andrew Lloyd Webber production of ‘The Sound of Music’ will be performed in Sri Lanka from February 14th to 18th, marking the first time an award-winning West End show of such calibre is performed in the country.

Pan Asia offers housing loans with fixed interest rates up to 10 years

In a bid to meet the rising customer demand for a housing loan solution that offers a long-term fixed interest rate structure, Pan Asia Bank ‘Nivasa’ home loan now offers an interest rate structure that is fixed for a period of 10 years from the date of granting the loan.

Affordable medical test packages to all from Pannipitiya Private Hospital

Pannipitiya Private Hospital, one of Sri Lanka’s renowned and frontline private hospitals has introduced a series of medical test packages that offers special discounts to its patients.

Lanka Hospital Diagnostics launches state-of-the-art medical laboratory in Kandy

With astounding success and highest quality of their medical laboratory services in Colombo and suburbs, Lanka Hospitals Diagnostics (LHD) recently launched their newest lab testing facility at No.74, Old Peradeniya Road, Kandy.

Selan Bank opens two new branches

Seylan Bank opened two new branches in Aluthgama and Wariyapola recently. The Aluthgama branch is located at Senaro Building, Aluthgama while the Wariyapola branch can be accessed in Kurunegala Road, Wariyapola.

CAL provides investors innovative fintech solution with Fipbox launch

Capital Alliance (CAL) has launched Fipbox, a centralised web application that facilitates investors with up-to-date information about interest rates and credit ratings of banks and financial institutions, allowing clients to confirm investments through a single platform to help them find the best fixed deposit rate.

Sri Lanka Insurance pays over 1,600 Suraksha claims for schoolchildren

The Suraksha Insurance scheme, which was launched by the Ministry of Education in October last year, has already proved to be extremely beneficial for the children of Sri Lanka with over 1,600 claims already paid by Sri Lanka Insurance to-date. 

Hemas Hospitals partners MaGE to strengthen skills of nursing staff

Sri Lanka’s leading private healthcare provider Hemas Hospitals announced its partnership with Manipal Global Education Services (MaGE) in India, with an aim to strengthen and raise the standards and skills of their nursing staff.

IMF’s Lagarde says market swings aren’t worrying, but wants reforms

REUTERS: Sharp swings in global financial markets in the past few days are not worrying since economic growth is strong but reforms are still needed to avert future crises, the Managing Director of the International Monetary Fund (IMF) said on Sunday.

Commercial Bank to keep 70 branches open on Mahasivarathri Day

The Commercial Bank of Ceylon has announced it will keep 70 branches open for business on Tuesday, February 13th, a Public and Bank holiday to mark the Mahasivarathri festival.

Payable signs 2000 new merchants with Visa on islandwide promotion

Payable revolutionised cashless mobile payments in 2016, when it first entered the market with a mission to empower Sri Lanka’s micro, small and medium enterprises with the ability to accept electronic payments at a very low cost.