InsureMe.lk partners with Sampath Bank to revolutionize insurance industry

Sri Lanka’s first insurance comparison web platform ‘www.insureme.lk’ has joined hands with Sampath Bank to offer convenience of buying general insurance policies online for the first time in Sri Lanka. 

People’s Bank self-banking unit for Kandy

The latest self-banking unit of People’s Bank (CDM/ATM/Kiosk) was declared open recently by People’s Bank Chief Executive Officer/General Manager N. Vasantha Kumar, at the Dalada Veediya, Kandy People’s Bank branch. 

ComBank’s ‘Paymaster’ pays out record Rs.11.6bn in three days

More than 2,500 institutions paid out Rs.11.6 billion in early salaries and bonuses over just three days in April 2017 via ‘Paymaster’ – the sophisticated bulk payments platform of Commercial Bank of Ceylon.

SDB Bank opens 91st branch in Bandarawela

SDB Bank (Sanasa Development Bank PLC), celebrating its 20th anniversary as the pioneer bank to contribute the development of Sri Lankan rural economy, opens its 91st branch in Bandarawela yesterday, denoting yet another juncture of its successful journey.

LOSEC conducts capital market, mobile app awareness workshop for SLIIT students

LOLC Securities Limited (LOSEC), the stockbroking company of the diversified conglomerate, the LOLC group, recently conducted a workshop on capital market and mobile app awareness. 

Mastercard partners with Singapore’s Changi Airport, Takashimaya Shopping Centre

Mastercard announced that it is now the preferred card partner for the number one airport in the world, Changi Airport (CAG), as well as leading shopping destination in Singapore, Takashimaya Shopping Centre. 

Tightening margins weigh down on LB Finance’s March profit; but full-year net up 5%

LB Finance PLC, a licensed finance company that mainly engages in three-wheeler and two-wheeler leasing, saw its margins negatively affected during its March quarter as the rates on such leases climbed substantially.

NDB wins Brand Excellence, Social Media Marketing at CMO Golden Globe Awards

NDB, formerly known as National Development Bank, was a recognized development bank which financed long-term investments to many large-scale projects. After many years of spurring development in the country,

Amana Bank opens offsite ATM at Oluvil University

Amãna Bank recently launched its fifth remote ATM at the South Eastern University of Sri Lanka in Oluvil. 

Sri Lanka rules may boost capital, mergers for small NBFIs: Fitch

The new regulations issued by Sri Lanka’s Central Bank to increase minimum core capital levels for all licensed finance companies could spur small companies to improve their capital buffers and may reignite industry consolidation, says Fitch Ratings.

Cargills Bank expands remittance partners; ties up with UAE’s Instant Cash

Cargills Bank prioritizes customer convenience and value by progressively expanding remittance access points to its customers and through its latest tie-up with another leading money transfer service partner, Instant Cash.

Pan Asia Bank 1Q net profit up 16% to Rs.353mn

Mid-sized bank, Pan Asia Banking Corporation PLC, reported an after tax profit of Rs.353.4 million for the March quarter (1Q17) recording an increase of 16 percent from the same period last year.  

‘Seamless Middle East’ to showcase fintech solutions

Epic Technology Group, synonymous for fintech solutions, will be on show at the ‘Seamless Middle East’ to be held in Dubai at the World Trade Centre on May 1stand 2nd. 

DFCC takes banking transactions to customers’ doorstep with Mobile Teller

Sustaining its momentum to offer technology-backed convenience to customers, DFCC Bank re-launches ‘Mobile Teller’, a digital banking service owned and operated by DFCC Bank and developed by SYNAPSYS. 

Ceylinco Life retirement planning month begins on May 2

The best time to start investing in retirement is at the commencement of employment, a new campaign to be launched by Ceylinco Life in May asserts.

ComBank offers ‘Flexi Plan’ for high value credit card purchases

The Commercial Bank of Ceylon now offers ‘Flexi Plan’, an easy payment scheme for credit card holders who have been unable to convert their high value transactions into easy payment plans at the point of purchase.

NDBIB pioneers cornerstone strategy for IPOs on CSE

NDB Investment Bank (NDBIB) introduced the cornerstone investor strategy to the Colombo bourse via the recent Initial Public Offering (IPO) of RIL Property Limited (RIL). 

HDFC Bank signs MoU with Central Bank

Housing Development Finance Corporation (HDFC) Bank of Sri Lanka signed a memorandum of understanding (MoU) with the Central Bank of Sri Lanka recently enabling HDFC Bank to contribute to the government’s objective of generating one million jobs through establishing over 25,000 new businesses, with the utilization of resources in villages. 

Mastercard hosts risk management knowledge-sharing session

Mastercard recently hosted 50 senior electronic payment industry representatives at its risk management workshop in Colombo. 

Union Assurance continues to deliver best for customers

Union Assurance has once again declared actual dividend rates that are significantly higher than the guaranteed minimum rates published at the beginning of the year. This is a clear indication of the effectiveness of the Union Assurance policies as well as evidence of its stability. 

Pan Asia Bank celebrates Sinhala and Tamil New Year honouring Lankan tradition

Pan Asia Bank opened its branch network on April 14 to conduct Avurudu ganu denu and share the joy of the Sinhala and Tamil New Year day with its customers.

Vallibel Finance moves Gall branch to dual access location

Financial innovator Vallibel Finance called for a double celebration as it not only relocated to its own premises in Galle but a showpiece location in the heart of the popular town. 

BOC’s ATM network dispenses Rs.34bn during Avurudu season

The owner of the largest automated teller machine (ATM)/cash deposit machine (CDM) network in the country, Bank of Ceylon (BOC), yet again set a benchmark in the banking industry by transacting over Rs.46 billion during this Sinhala and Tamil Avurudu season from April 1 till April 14, 2017. 

SLIBFI Awards Night 2017 on April 28

Sri Lanka Islamic Banking & Finance Industry (SLIBFI) Awards 2017 will be held for the sixth consecutive year on April 28, 2017.

MBSL and Finance among top 10 Lankan financial service providers

Merchant Bank of Sri Lanka & Finance PLC (MBSL) has emerged as one of the top 10 brands in Sri Lanka’s financial services industry.

People’s Bank launches Swashakthi loan in tandem with 1mn jobs programme

People’s Bank has proactively joined the Swashakthi loan scheme initiated by the National Policies and Economic Affairs Ministry and Central Bank of Sri Lanka, disbursing loans via its extensive branch network of more than 730 branches islandwide. 

HNB Grameen-Indra Traders enter into MoU

HNB Grameen, a dynamic and fast-growing finance company that pioneered microfinance in Sri Lanka, has recently entered into a memorandum of understanding (MoU) with Indra Traders (Pvt.) Ltd, a catalyst in the Sri Lankan automobile industry, at Cinnamon Lake, Colombo.

DPMC and Assetline Leasing relocate Jaffna branches

David Pieris Motor Company Ltd (DPMC) and Assetline Leasing recently relocated their Jaffna branches, opening a ‘new world experience’ to their customers. 

Importance of sustaining the current stock market momentum

After many months of pessimism, the Colombo Stock Exchange (CSE) appears to be heading towards a bull run.  In April 2017, the All Share Price Index (ASPI) has appreciated by 7.8 percent while the S&P SL 20 Index has recorded a growth of 8.6 percent. Further on, foreign contribution to the total market turnover for the current year exceeded 50 percent after nine long years.  

ComBank rewrites ATM withdrawal records

A record Rs 23.9 billion in cash flowed out of the automated teller machines (ATMs) of the Commercial Bank of Ceylon in the first 14 days of April as Sri Lanka’s largest private bank facilitated the celebration of the Avurudu season in characteristic style.