Janashakthi March net profit up due to merger effect

Sri Lanka’s third largest general insurer by gross written premiums (GWPs), Janashakthi Insurance PLC (Janashakthi) group, posted a net profit of Rs.357.5 million for the quarter ended March 31, 2016 (1Q16), up 236 percent from a year ago due to the rise in general insurance premiums, the interim results showed. 

CA Sri Lanka launches Certificate Course in Forensic Accounting

In a fresh effort aimed at combating increasing fraud in the country, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) launched the Certificate Course in Forensic Accounting, to inculcate chartered accountants with important knowledge and skills in this specialised field. 

Vasco Worldwide enters into strategic alliance with Janashakthi Insurance

An avant-garde travel service enterprise, Vasco Worldwide announced official opening of its new office in Sri Lanka. 

What type of retiree will you be? Find out on AIA’s Facebook page

You may not have even thought about your retirement as yet, but it is inevitable. It makes sense that you take a minute to think about what sort of a retirement you fancy, so you can start planning early to make sure it turns out just the way you want it to!

Eighth Sri Lanka Islamic Banking & Finance Conference kick-starts today

The 8th SLIBFI Conference, scheduled for today (17) at the Ramada Colombo Hotel is expected to cover new ground and, importantly, from a fresh perspective. 

Russia’s VTB bank returns to profit in first quarter

AFP - Russia’s second largest bank VTB yesterday announced a return to profit in the first quarter, saying “stabilisation” in the Russian economy had boosted revenues, although by less than analysts had expected.

Japan lender’s profits hit by Bank of Japan negative rate move

AFP - The Bank of Japan’s shock negative rate policy is taking a bite out of profits at major banks, with Mitsubishi UFJ yesterday warning over its bottom line.

NSB’s 1Q PAT increases by 28% to Rs. 2.35 billion

Deposit base of the Bank surpassed Rs.600 billion by end of March 2016 supported by the growth of both savings and fixed deposits. 

Chinese executive ‘confesses’ to $800m fraud

AFP - The alleged mastermind of a scam which cost Chinese investors hundreds of millions of dollars lived in a penthouse flat featuring peacocks and fountains, reports said yesterday after he was paraded on television confessing.

NTB 1Q net up over lower impairments; core banking narrows

John Keells Holding’s banking sector arm, Nations Trust Bank PLC (NTB), upped its March quarter net profit

China asks Britain for advice on creating financial super-regulator

RUETERS:  China has asked Britain for advice on plans to create a financial super-regulator, as it looks 

Sampath Bank honoured with Asian Banker’s ‘Best Managed Bank in Sri Lanka’ Award

Reiterating its status as one of the leading commercial banks and one of the most respected entities in Sri Lanka

Ex Sampath Bankers’ Club launches website and social media

Ex Sampath Bankers Club which was inaugurated in January this year took another step forward by launching its 

CIMA sponsors creation of world’s first management accounting standard

CIMA has sponsored the creation of the world’s first management accounting standard, codifying a universal 

SDB awarded ISO27001:2013 certification

Sanasa Development Bank PLC (SDB) has successfully attained the International Organisation for Standardization

NDB Wealth launches ‘Income Plus’

Expert financial planner NDB Wealth has launched the high yield “Income Plus” fund, an attractive alternative 

Siyapatha Finance appoints new Managing Director

Siyapatha Finance PLC, appointed Saman Herath as its new Managing Director effective from April 2016

Crescent Global establishes Lloyd’s Insurance and Reinsurance hub in SL

Crescent Global Insurance and Reinsurance Brokers is the first global player in the insurance and reinsurance business, 

JIT Group integrates People’s Bank ATM switch upgrade

Procuring the world-renowned HP Tandem server and running the software for the past 16 years with undisrupted 

MasterCard launches ‘Integrated’ payment processing services platform

As the world of commerce becomes increasingly connected, consumers are continually seeking faster, more seamless and secure commerce solutions. This is putting the payments ecosystem under greater pressure to develop and deploy innovative payment solutions at a faster rate than ever before. To meet this challenge, MasterCard announced the launch of MasterCard Integrated, the payments processing services platform that powers MasterCard payment tra

DFCC CEO appointed as ADFIAP Chairman

DFCC Bank Chief Executive Arjun Fernando has been elected the new Chairman of the Association of Development Finance Institutions of Asia and the Pacific (ADFIAP).  He took over as Chairman at the conclusion of the 39th Annual Convention held in Apia, Samoa recently from Bhutan Development Bank Managing Director Pema Tshering.

Rachini Rajapaksha appointed to NTB board

Nations Trust Bank (NTB) announced the appointment of Rachini Rajapaksha as a new member of the distinguished board of directors. Rajapaksha has over 20 years’ experience across a multitude of industries including accounting and fund management. Her multidisciplinary competencies are expected to contribute towards the bank’s wealth of practical insights and business objectives. 

Vallibel Finance takes operations to an epic IT platform

Vallibel Finance further consolidated its standing as a futuristic finance company with a far-reaching documentation management system that would overhaul the company’s  operating system.

National Savings Bank opens Kopai branch

Facilitating a further extended service for its islandwide customers, the 249th branch of National Savings Bank (NSB) was opened in Kopai with the initiation of Children’s Affairs State Minister Wijayakala Maheswaran recently. 

NDB Shilpa awarded at Asia Pacific Customer Engagement Forum

National Development Bank (NDB) marked yet another milestone by winning the ‘runner-up’ award for Effectiveness in the Retail Touchpoints and Merchandising category at the recently held ACEF Awards in Mumbai India. 

An overview of rating products offered by rating agencies

During the last three weeks the article series focused on the credit rating industry. It discussed the definition

CSE-CFA ring opening bell in support of ‘Putting Investors First Month’ campaign

The Colombo Stock Exchange (CSE) and CFA Society Sri Lanka (CFASL) jointly held a special market opening ceremony yesterday in support of the ‘Putting Investors First Month’ campaign, to call attention to the needs and rights of investors.

Sampath IT Solutions awarded ISO 9001:2008 Certification

Sampath Information Technology Solutions Ltd (SITS) was recently awarded the ISO 9001:2008 Certification recognizing the company’s commitment towards providing high standards of quality and services to its customers. 

CSE announces change in price multiples calculation methodology

The Colombo Stock Exchange (CSE) yesterday announced a revision in the methodology of calculating price multiples (P/E, P/BV and DY). 

Rs.15bn inflow to govt. security market in 30 days following S’pore Investment Summit

March 15, 2016 saw the wrapping up of the Sri Lanka Investment Summit in Singapore on a high note. Attended by 100s of professionals from various corporations in the financial industry, the summit hosted a number of prestigious speakers, including high-profile members of the Sri Lankan government and notable personalities of the finance and commercial world.