Standard Chartered introduces mobile wallet payments

Standard Chartered, in its most recent innovative affiliation, introduces Straight2Bank Wallet in partnership with Dialog Axiata’s eZ Cash platform to expand the cashless payment services.

NTB Amex promo to offer all-expenses paid holiday

Nations Trust Bank (NTB) American Express (Amex) cardmembers now stand a chance to win an all-expenses paid holiday of a lifetime to explore the world and experience the best it has to offer by simply using their cards for all purchases from July 1 to October 31, 2017 to meet the minimum spend thresholds. 

ComBank cardholders to enjoy massive discounts

Commercial Bank’s credit and debit card holders can stay at fancy hotels, purchase lifestyle electronic products, watch movies and enjoy online deals all at discounted rates offered throughout August and also enjoy zero percent interest offers from over 150 merchants islandwide throughout the year. 

Seylan Bank June net up 25% but asset quality weakens

Seylan Bank PLC reported earnings of Rs.3.74 a share or Rs.1.32 billion for the June quarter (2Q17), recording an increase of 25 percent year-on-year (YoY) amid weaker growth in loans, compressed margins and higher loan loss provisions, the interim results of the bank showed. 

Commercial Bank share sale boosts DFCC June quarter

DFCC Bank PLC reported earnings of Rs.5.84 a share or Rs.1.54 billion for its April – June quarter (2Q17) compared to the Rs.747 million profit it recorded during the same period last year as the sale of shares it held in Commercial Bank helped the banking group to prop up its performance.

People’s Leasing & Finance posts Rs.796mn profit for 1Q

The country’s largest finance company, People’s Leasing & Finance PLC (PLC) posted a Rs.796 million net profit for the 1st quarter of 2018, down 25.9 percent compared to the same quarter last year, as the firm continued to feel the sustained monetary policy tightening by the Central Bank over the past 18 months.

Abans Finance puts up strong performance in March quarter

Abans Finance, a member of the Abans Group, has registered a pre-tax profit of Rs.197.4 million for the period ended 31st March 2017, compared to Rs.130.5 million recorded in the corresponding year of 2016, achieving a YoY growth of 51.29 percent. 

Bank of Ceylon celebrates 78 years of unparalleled service to the nation

With the confidence and trust that has been build over the years in the Sri Lankan banking and financial services sector, the country’s No.1 brand steps into its successful 78th year of service as “Banker’s to the nation” on August 1st. 

Sanasa Insurance uplifts lives of needy with unique ‘Sanasa Movement’

Created by the society, with the society, and for the society, ‘Sanasa movement’ is truly the largest and one-of-its-kind in the country with an ever-increasing membership. 

SEC and CSE conduct capital market forums in Negombo

The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) commenced a series of Investor Forums titled ‘Kotas welenda pola: nagarayen nagarayate’  with a view to showcasing the benefits of investing in the capital market to the general public. 

Lankaputhra Development Bank provides loan facilities for orchid cultivation

Lankaputhra Development Bank has come forward to provide loan facilities to entrepreneurs who are already engaged in the orchid industry and who intend to grow orchid.  

Pan Asia Bank bottom line narrows 12% during June quarter

The mid-sized bank, Pan Asia Banking Corporation PLC, has reported a decline in its profits for the April-June quarter amid higher cost of funds and poor asset quality in a higher  interest rate environment. 

Amãna Takaful relocates Akkaraipattu branch

Amãna Takaful PLC (ATL), the only fully-fledged Takaful operator in the country and the flag bearer of the Takaful way of insurance in Sri Lanka, recently relocated its Akkaraipattu branch with the intention of serving its customers better. 

Union Assurance bags Global Master Brand Status 2017-2018

Union Assurance PLC (UA) was acknowledged with the Global Master Brand Status for the period of 2017 – 2018 at the first-ever Master Brand Award ceremony organised in Sri Lanka, which was held recently, at Taj Samudra, Colombo.

CSE branch-wide educational drive gathers momentum

The branch-wide investor education campaign conducted by the Colombo Stock Exchange (CSE) has been well received over the first half of the year, with over 350 educational and awareness initiatives conducted in 2017. 

Sampath Bank offers best leasing rate in market

In continuing to offer its customers the best leasing solutions in the market, Sampath Bank has once again introduced the lowest vehicle leasing interest rate in the country. 

Morgan Stanley, RBC, others settle currency rigging lawsuit in U.S.

REUTERS: Morgan Stanley, Royal Bank of Canada and three other banks agreed to pay a combined US $ 111.2 million to settle U.S. litigation accusing them of rigging prices in the roughly US $ 5 trillion-a-day foreign exchange market.

Fairfirst Insurance wins Medical Insurer of the year once again

For the second consecutive year, Fairfirst Insurance, the market leader for health insurance, won the title of Excellence in Medical Insurance, at the Fintelekt Insurance Industry Awards held in Mumbai recently. 

Commercial Bank introduces Sri Lanka’s first ‘Chip and PIN’ debit card

Commercial Bank of Ceylon has introduced Mastercard debit cards with Chip and PIN technology for the first time in Sri Lanka.

CLC launches branches in Kegalle and Piliyandala

Reaching out to its customer base, CLC made a few iconic additions to their existing branch network during the month of June. 

People’s Bank opens Digital Centre at York Street

People’s Bank achieved a unique milestone in its digitalisation drive with the opening of its fully-fledged Digital Centre by Prime Minister Ranil Wickremesinghe, at York Street, Colombo 1.

Millennium IT founder launches Ustocktrade in SL

Ustocktrade, the world’s first retail alternative trading system (ATS), the mission of which is to bring Wall Street to Main Street, announced yesterday its launch in Sri Lanka, the first international expansion for Ustocktrade.

BOC conferred Best Bank in Public Sector and Best Employer Brand

The number one bank in the country, Bank of Ceylon (BOC) has won the Best Employer Brand Award and Best Bank in Public Sector – Excellence and Leadership Award for the Banking and Financial Services Industry, presented at the event hosted by the World HRD Congress in its 12th Employer Branding Awards held recently at Taj Samudra, Colombo.

Fifth CFA Capital Market Awards to be held next month

The CFA Society Sri Lanka announced the holding of the fifth Capital Market Awards on August 01st. The award ceremony recognises and rewards professionals who have established industry benchmarks and spearheaded governance and ethics to advance the domestic capital market. The theme of this year’s event will be to ‘Sharpen Your Investment Edge’ focusing on consumerism and macroeconomic fundamentals driving the consumer sector in

NDB June quarter net profit up 40% on strong loan growth, better margins

National Development Bank PLC, the development lender turned commercial bank, reported earnings of Rs.4.48 a share or Rs.748. 1 million for the April -June quarter, recording an increase of 39.7 percent from a year ago as the bank managed to maintain the growth in advances and margins despite difficult market conditions, the interim financial accounts showed.

Euromoney honours Sampath Bank as ‘Sri Lanka’s Best Bank’

Sampath Bank, a name synonymous with the future of banking in Sri Lanka has long been a trail blazer in the industry with a long list of accolades to their name. 

HNB arranges funding for Wind Force’s 10 MW solar power project in Vavuniya

The Project Finance Team of HNB’s Corporate Banking Division congratulated the success of Wind Force (Pvt) Ltd on completion of their 10 MW solar power project in Vavuniya under the name of Vydexa (Lanka) Power Corporation (Pvt) Ltd. 

IFC partners Commercial Bank to improve green financing in Sri Lanka

IFC, a member of the World Bank Group, is partnering with Sri Lanka’s Commercial Bank of Ceylon (CBC) to help the bank increase investments in local companies focusing on renewable energy and energy-efficiency projects.

Softlogic Life bags top awards at Insurance Industry Awards

Softlogic Life Insurance, Sri Lanka’s fastest growing and most innovative Life Insurer, has been conferred with the top two awards, ‘Excellence in Agency Distribution’ and ‘Excellence in Claims’ at the Sri Lanka Insurance Industry Awards 2017. 

DFCC Bank opens full service branch in Tissamaharama

DFCC Bank opened its newest branch in Tissamaharama recently.