NDE offers holistic platform for cash management solutions

Driven by smart functionality and high utility, Nations Direct Enterprise (NDE) offers customised payments, cash management, trade and supply chain financing solutions to suit the unique needs of any type of business – be it corporates, MMEs or SMEs.

Union Assurance introduces ‘Get Fit’ all-inclusive solution

The Clicklife App, an industry first comprehensive digital solution from Union Assurance that empowers customers to manage their policies, goes a step further by enabling customers to live a healthy lifestyle.

People’s Bank in major push to increase remittances

People’s Bank will make a major push towards bringing in more worker remittances to the country with various incentives programmes designed to encourage migrant workers to send more money through banking and other official channels.

NDB conducts investor earnings call on 1Q21 financial results

National Development Bank PLC hosted the bank’s quarterly on-line Investor Earnings Call, subsequent to the release of its financial results for the financial year ended 31 March 2022.

Allianz Divitharana: New take on life and health insurance

Insurance brand Allianz has announced the launch of its new ‘Divitharana Insurance product, which provides comprehensive life and health insurance for policyholders and their loved ones, at an easily accessible and affordable price.

Largest NBFI LOLC Finance poised to fuel economic resurgence

In one of the most historic mergers in Sri Lanka, LOLC Finance PLC, the largest NBFI in the country, merged with its sister company Commercial Leasing & Finance PLC (CLC), to become the largest non-banking financial institution (NBFI) in Sri Lanka earlier this year.

SDB Bank partners ADB for credit line for SMEs and tea smallholders

SDB bank recently entered into a joint initiative together with the Asian Development Bank (ADB), to provide a line of credit (LoC) to selected small and medium-sized enterprises (SMEs) in Sri Lanka, including those led by women, are first-time borrowers, lack sufficient collateral and those who are located outside of Colombo.

NDB launches campaign to encourage remittances

NDB Bank recently launched a campaign to encourage inward remittances by providing cash prizes worth over Rs. 1 million for customers who collect their Western Union remittances from NDB Bank or any of the bank’s registered agencies including Regional Development Bank (RDB), Singer Sri Lanka, Sarvodaya Development Finance (SDF) and Citizen Development Business Finance (CDB).

Commercial Bank enables Senkadagala Finance to activate EMV 3DS on Visa cards

The Commercial Bank of Ceylon has enabled Senkadagala Finance PLC to become the first finance company in Sri Lanka to activate EMV 3DS fraud prevention technology in the authentication of Visa card transactions of latter’s customers.

Nations Trust Bank installs new CRM at Keells Miriswatta

Nations Trust Bank continues to expand its customer-centric banking solutions with the installation of the latest Cash Deposits and Withdrawal machine at the Keells Supermarket in Miriswatta, Gampaha.

HNB honoured by Asian Banker as Best Retail Bank in Sri Lanka for 2022

HNB PLC sealed its reputation as Sri Lanka’s undisputed leader in retail banking, having been crowned as the Best Retail Bank in Sri Lanka for the 12th occasion at the prestigious International Excellence in Retail Financial Services Awards 2022 hosted by the Asian Banker Magazine.

‘People’s Remittance Vaasi Kotiyai’ picks 3rd monthly millionaire

People’s Bank picked the third millionaire in ‘People’s Remittance Vaasi Kotiyai, Ewannai Dinannai’ draw where the monthly winner of April along with daily and weekly winners between 05th April to 02nd May were selected.

ComBank Digital enables real-time online payments to SLSI in another first

The Commercial Bank of Ceylon has become the first bank in Sri Lanka to enable online payments to the Sri Lanka Standards Institution (SLSI) by linking the institution to ‘ComBank Digital,’ making it possible for customers to pay their fees to SLSI from anywhere and at any time.

HNBGI wins Best General Insurance Company of the Year - Special Recognition Award

HNB General Insurance Limited (HNBGI), a leading general insurance service provider in the country offering innovative motor, non-motor and takaful insurance solutions was awarded the Best General Insurance Company of the Year - Special Recognition Award at the recently held 3rd ICC Emerging Asia Insurance Awards 2021 in Kolkata, India, organized by the Indian Chamber of Commerce.

Fitch downgrades Cargills Bank to ‘A+(lka); places on Rating Watch Negative

Fitch Ratings has downgraded Cargills Bank Limited’s (CBL) National Long-Term Rating to ‘A+(lka)’, from ‘AA-(lka)’, and has placed the rating on Rating Watch Negative (RWN).

First Capital performance dented by losses from G-Sec portfolio

First Capital Holdings PLC (the Group), a member of the Janashakthi Group, reported loss after tax of Rs. 413 million for the year endedMarch 31, 2022, compared to a profit after tax of Rs. 2.1 billion in the previous year.

Amana Bank March profit up; weaknesses seen in margins amid rising funding cost  

Amana Bank PLC reported some robust top and bottom line performance in the three months ended in March 31, 2022, but rising interest rates blunted the margins while the growth momentum could come to a standstill in the ensuing periods as the economy hit its lowest point with recession looming, clouding the future performance.

CFA Capital Market Awards recognizes investor relations as key to building value in listed entities

With the ninth annual CFA Capital Market Awards - which recognize and reward professionals who have established benchmarks for the advancement of domestic capital market participants - scheduled to be held in June this year, the organizers of the event,CFA Society Sri Lanka, takes a look back at the major entities feted at the 2021 edition of the awards.

Q+ Payment App now enables payment of dues on credit cards of other banks

Users of Commercial Bank of Ceylon’s popular Q+ Payment App can now settle the outstanding due on credit cards issued by other banks via the in-app Bill Payments option, in addition to settling dues on credit cards issued by Commercial Bank.

Sampath Bank ranked ‘Most Loved Bank’ in Sri Lanka once again

Sampath Bank PLC has once again been ranked among ‘Most Loved Brands’ in the country, according to LMD’s Brands Annual for 2022, the bank announced.

Pan Asia Bank appoints Naleen Edirisinghe as COO

Pan Asia Bank recently announced the appointment of Naleen Edirisinghe as its Chief Operating Officer (COO) with effect from 26th April 2022 to take the bank to the next phase of growth.

Pioneering breakthroughs win global acclaim for Union Assurance

Continuing its legacy of excellence, Sri Lanka’s Life Insurance trailblazer Union Assurance has won four renowned global awards. These accolades by the Global Business Magazine recognize the Company’s industry-leading achievements in innovation and digitization.

HNB Assurance and HNB General Insurance retain ‘A+ (lka)’ from Fitch Rating

Fitch Ratings has maintained ‘A+ (lka)’ National Insurer Financial Strength (IFS) Ratings of HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI).

ComBank partners with insurers to offer affordable insurance to female customers

Commercial Bank of Ceylon has announced it has partnered with several insurance companies to offer special life and general insurance products with unmatched low premium rates exclusively for women customers, under the bank’s Anagi Women’s Banking portfolio.

LOLC General Insurance named as Best General Insurance Company of the Year

The third Emerging Asia Insurance Awards 2021 recognised LOLC General Insurance PLC as the Best General Insurance Company of the Year amongst the top insurance companies nominated from South East Asia.

DIMO-Allianz partner to provide insurance scheme to TATA customers

DIMO, a leading diversified conglomerate in Sri Lanka, together with Allianz, one of the largest insurance and financial service providers in the world, recently introduced a state-of-the-art motor insurance and claim settlement scheme designed exclusively for DIMO’s TATA customers.

Massive provision for loans and other losses dent NTB first quarter profits

Higher provisions made for possible loan defaults and other losses likely arising from financial assets dented the profits at Nations Trust Bank PLC (NTB) in the three months to March 2022 although the core banking results were supported by stretched margins amid rising interest rates amid moderating growth.

Seylan Bank 1Q profits flat amid higher provisions and slower growth 

Seylan Bank PLC reported some steady profits in the three months to March (1Q22) though the bank reported higher impairment provisions against foreign currency denominated financial investments and lacklustre growth.

DFCC Bank relocates five branches to offer enhanced customer experience

DFCC Bank has relocated its branches in Aluthgama, Kaththankudi, Akkaraipattu, Nugegoda and Naula to offer an enhanced customer experience in these locations.

Sanjeev Jha appointed to director board

NTB recently announced the appointment of Sanjeev Jha to its Board, as a Non-Executive Director with effect from May 1, 2022.