Fitch revises SLIC’s outlook to Stable

Fitch Ratings has revised the outlook on Sri Lanka Insurance Corporation’s (SLIC) Insurer Financial Strength (IFS) rating to Stable from Negative and affirmed the IFS rating at ‘B+’. 

MBSL gears for growth with new blue ocean strategy

The Merchant Bank of Sri Lanka (MBSL) & Finance PLC has kicked off 2017 with new 3-year strategic plan, after the most complex but successful consolidation in Sri Lanka’s financial sector history, MBSL is now poised to enter a new era of growth and progress by leveraging the synergies of a highly skilled workforce backed by the latest specialized financial sector technology.   

DFCC Bank launches Vardhana Sahaya for small enterprises

After six decades of nurturing small and medium businesses to become leading enterprises in their respective sectors, DFCC Bank launched Vardhana Sahaya, effectively extending its expertise to the small enterprise category. 

Union Bank offers greater banking convenience in Pettah

Union Bank’s Pettah branch was relocated to spacious new premises at 111 Main street Colombo 11, offering a redefined banking experience to customers. 

Standard Chartered’s Priority Banking unveils flagship centre

Standard Chartered’s Priority Banking unveiled its flagship Centre at 22A Sir Marcus Fernando Mawatha, Colombo 7 at a ceremony graced by clients and staff. 

Top Federal Reserve official resigns as bank deregulation looms

REUTERS:  The top Federal Reserve official charged with financial regulation said last week that he would resign, just a week after the new administration of President Donald Trump said it would undertake a review of what it sees as onerous bank rules.

Prem Watsa’s Fairfax to pay US$ 144 mn for New Zealand-based insurer

Fairfax Financial Holdings Ltd. will pay US $144 million for New Zealand insurer Tower Ltd., giving it an instant, significant presence in a growing, emerging market.

NTB offers special savings at Damro for credit cardholders

Nations Trust Bank recently partnered with Damro to offer their American Express and Master Card credit cardholders a special 30 month interest-free installment plan at no extra charges and 10 percent savings for purchases made on a wide range of electronic items and furniture at any Damro outlet island-wide. 

Union Assurance organizes customer gatherings to appreciate top customers

Union Assurance is constantly re-defining its service offerings and the ways in which it interacts with and gets feedback from its key stakeholders. 

ComBank reaches out to SMEs in Gampaha and Puttalam

The Commercial Bank of Ceylon recently interacted with 160 entrepreneurs from the Gampaha and Puttalam districts at a programme held in Wennappuwa as part of t

Banks urged to get onboard Fintech platform to be part of ongoing disruption

The financial institutions received a strong push by the leading local software development company hSenid to get onboard the financial technology (Fintech) platform to reap the benefits of the ongoing disruption across all industries.

DFCC Bank continues islandwide expansion

DFCC Bank continued in its efforts to drive the growth of its network reaffirming its commitment towards advancing financial inclusivity, in the month of February. The newest branch was opened in Nawalapitiya recently, located at No: 13B, Urban Council Road.

Siyapatha Finance relocates Negombo branch

Sampath Bank’s largest fully-owned subsidiary, Siyapatha Finance, ceremonially relocated its Negombo branch located at No: 187, Thaladuwa Road, Negombo, to a more convenient fully-fledged branch at No: 287, Main Street, Negombo recently.  

Amãna Takaful launches Rhoda Uda Peraliya insurance scheme in South

Amãna Takaful PLC (ATL) proudly unveiled its latest revolutionary insurance schemes, ‘Smart Rider Cover’ - a compelling insurance scheme for motorbikes and ‘Tuk Tuk Full’- a unique insurance scheme for three-wheelers, at an event that was held at the Sea Line Hotel, Galle.  

CDB goes live with Intellect Digital Face

Intellect Design Arena Ltd, a digital technology product provider across banking and insurance, announced that Citizens Development Business Finance PLC (CDB) has gone live with Intellect’s Digital Face, an omnichannel solution catering to the demands of the modern customers. 

Start preparing for financial independence, advises NDB Wealth

Having marked Sri Lanka’s Independence Day, it’s time to start preparing for your own financial independence. Meaning different things to different people, financial independence can, for example, result in being debt free or even having a sufficient amount set aside to meet any emergency. Another way to look at it, make your assets effectively work for you, by consistently continuing to generate an income in excess of your expenses.

CCC invites corporate firms to be part of Business Events Calendar

The Ceylon Chamber of Commerce (CCC) is inviting corporate firms to be a part of its annual Business Events Calendar of the year 2017/2018, which plans to hold a series of key business events, forums, seminars and discussions throughout the year.

People’s Bank gifts Isuru Udana certificates to babies born during Independence Week

On the popular theme ‘Birth of Freedom’, People’s Bank has taken steps to grant Isuru Udana gift certificates to babies born during the Independence Week.

BOC wins SAFA Best Presented Annual Report Award in Dhaka

Bank of Ceylon’s (BOC) annual report 2015 won the Best Presented Annual Report Award in the Public Sector Banking Institutions category,

PABC’s Saviya microfinance loan scheme supports rural livelihoods

Sri Lanka’s fastest growing commercial bank, Pan Asia Banking Corporation PLC’s (PABC) Saviya microfinance loan scheme is designed to assist development of livelihood for prospective entrepreneurs who remain largely overlooked by the mainstream conventional banking. 

People’s Leasing reaches bicentennial branch opening phase

The leading non-bank finance company in Sri Lanka, People’s Leasing and Finance PLC (PLC), subsequent to opening its 101st and 102nd branches in Walasmulla and Kinniya, commissioned its 103rd branch ceremonially in Warakapola, at No: 177, Kandy Road, Warakapola. 

mCash-Cooplife partner for insurance premium payments

The national mobile service provider, Mobitel, has partnered with Cooplife Insurance Limited to increase its institute partner network for insurance premium payments via mCash.

Bank of Ceylon offers portfolio management services

Being the number one bank in Sri Lanka, Bank of Ceylon (BOC) manages several funds at present and has decided to extend portfolio management service (PMS) to all clients including individuals, corporates and trust funds through its Investment Banking Division. 

NDB announces 200 winners of Rs.5,000,000 cashback bonanza

Shopping with National Development Bank PLC (NDB) Good Life cards was better than ever with the biggest bill wipe out last season. The customers stood a chance of winning by simply shopping for Rs.25,000 on anything, anywhere with their NDB Good Life credit card till December 31, 2016. 

Ceylinco Life to launch 10th Life Insurance Week on Feb. 11

An annual, countrywide campaign to widen the life insurance net through interaction with the masses gets underway on Saturday, February 11, when Ceylinco Life launches its Life Insurance Week (LIW). 

Deutsche Bank posts 1.9bn 4Q loss as legal bill weighs

REUTERS: Deutsche Bank posted a net loss of 1.9 billion euros (US $ 2.05 billion) in the fourth quarter as legal costs for past misdeeds outstripped gains from a rebound in bond trading. Germany’s flagship lender missed the higher expectations of analysts who had expected the bank to post a fourth-quarter net loss of just 1.16 billion euros.

Royal Institute of Colombo wins Sri Lanka CFA Institute Research Challenge

CFA Sri Lanka announced that Royal Institute of Colombo has won the local competition of the CFA Institute Research Challenge and now advances to the Asia Pacific Regional where it will compete against universities from Asia Pacific.  

HNB relocates upgraded customer centre in Kollupitiya

Continuing its rapid growth momentum in the new year, HNB, Sri Lanka’s premier private sector commercial bank, announced the opening of its newly relocated Customer Centre at Galle Road, Colombo 03.

Lanka Hospitals facilitates access to quality pvt. healthcare with NITF

Lanka Hospitals and the National Insurance Trust Fund (NITF) for the 7th consecutive year, entered into an affiliation offering government employees access to high quality private healthcare services at affordable costs. 

CA students become S. Asian region champions at IFRS quiz competition

Two students of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) emerged as champions of the South Asian region at the inaugural IFRS Quiz Contest organized by the South Asian Federation of Accountants (SAFA).