Hasitha appointed to HNB Grameen board

Pioneer in microfinance, HNB Grameen Finance Ltd, recently announced the appointment of Hasitha Wijesundara to the director board of the company with effect from September 27, 2016.

Union Bank 3Q net up 74% to Rs.133mn; but margins decline

Union Bank of Colombo PLC saw its net profits for the quarter ended September 30, 2016 (3Q16) 

ComBank offers exciting new look and functionality in revamped website

A comprehensive revamp of the website of Commercial Bank of Ceylon has dramatically changed the 

AIA Sri Lanka announces appointment of new CEO

AIA Sri Lanka yesterday announced the appointment of Pankaj Banerjee as its new Chief Executive 

UB Finance goes for Rs.300mn unlisted debenture issue

In order to strengthen the capital structure of UB Finance Co. Ltd, its parent company Union Bank of 

Channa de Silva appointed as Sarvodaya Development Finance Chairman

Sarvodaya Development Finance announces the appointment of Channa de Silva as its new 

Channa de Silva appointed Sarvodaya Development Finance Chairman

Sarvodaya Development Finance announces the appointment of Channa de Silva as its new Chairman on the retirement of Eastman Narangoda, who led the successful transformation process of Sarvodaya Development Finance formerly known as Deshodaya Development Finance Company Limited (DDFC). 

Fitch rates People’s Leasing’s senior debt final ‘AA-(lka)’

Fitch Ratings Lanka has assigned People’s Leasing & Finance PLC’s (PLC, AA-(lka)/Stable) senior debentures of up to Rs.8 billion a final National Long-Term Rating of ‘AA-(lka)’.

Vallibel Finance becomes first finance company to enter Uragasmanhandiya

Vallibel Finance stamped its stature as a development crusader, putting a little known southern town on the radar, while at the same time, taking its novel brand of financial stewardship to yet another hill station.  

Union Bank 3Q net up 74% to Rs.133mn

Union Bank of Colombo PLC saw its net profits for the quarter ended September 30, 2016 (3Q16) rising as much as 74 percent to Rs.133.2 million from a year ago, on the back of modest growth seen in the bank’s loan book, but the margins came under further pressure as interest rates rose, the interim financial accounts released to the Colombo Stock Exchange showed.

Cargills Bank opens latest branch in Galle

Cargills Bank opened its latest branch in Galle recently, increasing its branch network to 12 as it continues its journey of expansion.

Fitch rates Bank Ceylon’s proposed subordinated debt up to Rs.8bn ‘AA(lka)(EXP)’

Fitch Ratings has assigned Bank of Ceylon’s (BOC; AA+(lka)/Stable) proposed subordinated debentures of up to Rs.8 billion an expected national long-term rating of ‘AA(lka)(EXP)’. The debentures, which are to have tenors of five and eight years and carry fixed and floating coupons, are to be listed on the Colombo Stock Exchange. 

Asian Alliance changes to Softlogic Life Insurance

Asian Alliance Insurance PLC, which commenced operations in 2001, announced its corporate name change to Softlogic Life Insurance PLC, with the launch of its brand Softlogic Life.

MBSL & Finance relocates Nittambuwa branch

The Nittambuwa branch of MBSL & Finance PLC has moved to bigger, better and more convenient premises to enhance service quality for customers. 

People’s Bank foreign remittance promo winner emerges from Kiribathgoda branch

Chandrika Wijitha Sri, an account holder at the Kiribathgoda People’s Bank branch, was the 17th lucky winner of the weekly People’s Bank Foreign Remittance Gold Fortune 2016.

Shares recover from 12-week low in dull trading

REUTERS: Sri Lankan shares edged up yesterday from a 12-week closing low hit in the previous 

Union Assurance partners with Bar Association of Sri Lanka

Union Assurance, a leading player in the Sri Lankan insurance sector, continuing its efforts to identify 

Britain’s banks to reveal solid 3Q results, warn of Brexit storm ahead

REUTERS: Britain’s major banks are set to report stronger-than-expected results this week, 

Pan Asia Bank launches gift promotion for ‘Thrift Month’

Further strengthening the bank’s commitment to encourage the habit of saving among Sri Lankans, 

DFCC Bank launches Rs.4 bn debenture issue

DFCC Bank has launched its debenture issue to raise Rs. 4 billion with an option to go up to Rs. 7 billion in the event of an over subscription. 

Bank of Ceylon offers an account for everyone during ‘Thrift Week’

Along with the government initiatives for financial inclusion, Bank of Ceylon has brought forward 

Rupee weaker on importer dollar demand; stocks up

REUTERS: The Sri Lankan rupee edged down yesterday due to importer dollar demand and a lack of 

Malaysia’s MINDA and CA Sri Lanka in fresh bid to build high-performing directors

In an effort to enhance the effectiveness of directors in the region, the Institute of Chartered 

NDBIB successfully closes Mobitel’s e-Channelling acquisition

NDB Investment Bank (NDBIB) successfully advised Mobitel (Private) Limited in its recent acquisition of e-Channelling PLC.  The transaction was announced on the floor of the Colombo Stock Exchange on September 5, and the acquisition was executed via a voluntary offer. 

DFCC Bank partners customers with products for every stage of life

Sri Lanka’s pioneering development bank, DFCC Bank, is steadily increasing its market share by providing innovative products and services backed by technology. 

Union Bank supports local exporter growth

The 24th annual National Chamber of Exporters of Sri Lanka (NCE) Awards, which fetes outstanding exporters was held on September 30, at the Hilton Colombo.

NDB’s mobile banking apps recognized at South Asian Business Excellence Awards

The National Development Bank PLC was felicitated with awards for Best Use of Mobile Technology (Banking Industry) and Best Use of Mobile Technology in financial services for its newly introduced NDB mobile banking app at the recently held South Asian Business Excellence Awards ceremony organized by the South Asian Partnership Summit (SAPS) and the World HRD Congress. 

CA Sri Lanka opens enrollment for CPFA

Senior public servants who wish to progress in the field of accountancy, can now apply for the Chartered Public Finance Accountancy (CPFA) qualification offered by  CA Sri Lanka along with its public sector wing, the Association of Public Finance Accountants of Sri Lanka (APFASL). 

Six enjoining orders issued against Seylan Bank and trust companies

Nine former employees of Seylan Bank Plc last week filed six separate cases in the District Court of Colombo before District Judge M.Y. Irshadeen against Seylan Bank Plc and six other trust companies, namely ESOTS Ltd, SESOT Ltd, SEYSHOP Ltd, SOTSE Ltd, SEYFEST Ltd, SEYFEST Ltd and SEYSHOP Ltd.

Rupee edges down on importer dollar demand

RETUERS: The Sri Lankan rupee ended slightly weaker yesterday on importer dollar demand and as foreign investors sold bonds in the absence of Central Bank intervention, said dealers.