Sanasa FY15 net profit up 15%

Licensed commercial bank, Sanasa Development Bank PLC (SDB), saw its December quarter net profits falling by 21 percent to Rs.149 million over the corresponding period last year due to a significant increase in operating expenses

Sri Lanka steps into inclusive cashless payment eco-system with PAYable

A revolutionary new model in cashless mobile payments is set to create a small and medium enterprise (SME)-led transformation in the Sri Lankan economy with the launch of PAYable, a free Bluetooth 

ComBank presents hampers to 300 remittance customers

Commercial Bank has rewarded 300 customers with hampers worth Rs.5,000 each following the conclusion

CIMA organises interactive seminar on RAMIS

The Chartered Institute of Management Accountants (CIMA) organised a seminar on Revenue Administration Management Information System (RAMIS) - the revolutionary change introduced by the Inland Revenue Department.

Janashakthi reports Rs.1.02bn PBT for FY15

Janashakthi Insurance PLC (Janashakthi) reported a consolidated gross written premium (GWP) of Rs.10.664 billion for the year ended December 31, 2015, a growth of approximately 19 percent over the same period in 2014

NDB Bank shakes up industry with ‘Shake-Banking’

Sri Lanka’s development-oriented commercial bank, National Development Bank PLC (NDB) recently launched its next generation of digitally-enabled mobile banking platform – ‘Shake-Banking’ – which offers many industry firsts, officials from the bank said. 

Union Bank records impressive growth in 2015

Union Bank of Colombo PLC (UBC) and its subsidiaries concluded the year 2015 with a notable business performance; reflected by a 226 percent increase in post-tax profit that signals the strong growth momentum mobilised within the year. 

DFCC posts healthy balance sheet growth

2015 was a year of transformation for DFCC following the amalgamation with DFCC Vardhana Bank and the change in the financial year-end to December 31 from March 31.

Nation Lanka Finance announces rights issue to raise Rs.502mn

Nation Lanka Finance (NLF) has announced a rights issue to raise Rs.502 million to support the company’s core capital requirement and ensure its compliance with regulations that have been stipulated by the Central Bank of Sri Lanka (CBSL). 

Boyagoda appointed as Colombo Trust Finance Chairman

Senior professional Mangala Boyagoda has been appointed as Chairman of Colombo Trust Finance PLC, a company formerly known as Capital Alliance Finance PLC, controlled by the Cargills group.  Boyagoda is a senior banker, possessing over 30 years of experience in the field of financial services. He commenced his banking career at Bank for Ceylon and served in capacities of Chief Dealer with a four-year stint at Bank of Ceylon London.

Union Bank records impressive growth in 2015

subsidiaries concluded the year 2015 with a notable business performance; reflected by a 226 percent increase in post-tax profit that signals the strong growth momentum mobilised within the year.

GSF becomes Summit Finance

George Steuart Finance PLC (GSF), a unit of Sarvodaya Development Finance Limited has changed its name to Summit Finance PLC, the company informed the Colombo bourse yesterday. The company obtained

Boyagoda appointed as Colombo Trust Finance Chairman

Senior professional Mangala Boyagoda has been appointed as Chairman of Colombo Trust Finance PLC, a company formerly known as Capital Alliance Finance PLC, controlled by the Cargills group. Boyagoda is a senior banker, possessing over 30 years of experience in the field of financial services. 

DFCC posts healthy balance sheet growth

2015 was a year o f transformation for DFCC following the amalgamation with DFCC Vardhana Bank and the change in the financial yearend to December 31 from March 31. The performance reported is for nine months 

ComBank ends 2015 with solid bottom line growth

Commercial Bank of Ceylon PLC has recorded a profit before tax of Rs.17.144 billion for the 12 months ended December 31, 2015, a year in which it strengthened its positions in Sri Lanka and Bangladesh

Nation Lanka Finance announces rights issue to raise Rs.502mn

Nation Lanka Finance (NLF) has announced a rights issue to raise Rs.502 million to support the company’s core capital requirement and ensure its compliance with regulations that have been stipulated

FC app gives capital market information at your finger tips

First Capital Holdings PLC (FC), a full-service investment bank with 30 years of experience, recently launched ‘FC Capital Market App’

UB Finance reaches Eastern region with Kalmunai

UB Finance, a subsidiary of Union Bank of Colombo PLC, has successfully implemented its branch expansion initiative so as to cater to the needs of its customers islandwide.

HNB delivers big in 2015; profits cross Rs.10bn mark 

Hatton National Bank (HNB) group recorded net profit (equity holders of the bank) of Rs.10.5 billion for the year ended December 31, 2015 (FY15)

Sampath Bank introduces ‘Missed Call Banking’

In keeping with its longstanding recognition for coupling convenience with technological innovation, Sampath Bank is adding yet another service to its existing mobile banking facility.

Asian Alliance unveils US$ 1 mn health cover

Asian Alliance Insurance PLC launched an all-time first by a Sri Lankan insurance company and announced a Health Insurance Cover of up to US$ 1 million that can be purchased locally.   

Fitch affirms Ceylon Dollar Bond Fund at ‘BB-/ V5’

Fitch Ratings has affirmed Ceylon Dollar Bond Fund’s Fund Credit Quality Rating of ‘BB-’ and affirmed the Fund Volatility Rating at ‘V5’. The fund is managed by Ceylon Asset Management (CAM). The affirmation 

People’s Leasing expands branch network in Sabaragamuwa Province

People’s Leasing & Finance PLC opened its newest branch in Pelmadulla (118/1, Ratnapura Road, Pelmadulla) recently. The new branch was declared open by D. P. Kumarage, CEO/General Manager, PLC.

Fitch recognized as Best Corporates, FI, PF Rating Agency

Fitch Ratings has been named as the winner in three categories in the inaugural Triple A Rating Agency of the Year awards by The Asset, a publication covering Asia’s financial industry since 1999. These include awards for “

HNB Al Najah opens first Islamic Banking Unit in Pettah

Hatton National Bank (HNB) Islamic Banking has opened its second Unit at Pettah, as a key step in a rapid expansion drive of its Islamic banking operations.

Seylan Bank wins ‘Social Media Brand of the year’ Award

The most socially engaging bank in Sri Lanka, Seylan Bank, won 3 major international awards for its performance on the Social Media platform at the ‘Indo Lanka Customer Engagement Award’ organized by the ACEF Team.

NTB rewards Apple iPhone 6 to winner

Nations Trust Bank opened their flagship digitalized branch at the World Trade Centre, emphasizing further the bank’s ambitious approach towards digital banking.  In light of the opening event, a promotional raffle draw was held during the proceedings,  commemorating the opening of the new branch. The winner, H. D. A. Harendra, won the draw which gave him the opportunity to walk away with a brand new Apple iPhone 6. The winning pr

MTD Walkers deep in red as construction slows

MTD Walkers PLC recorded a net loss of Rs.55.5 million for the December quarter (3Q16) against a net profit of Rs.195.6 million reported in the corresponding quarter of the previous year, the interim financial accounts showed. 

Pan Asia Bank crosses Rs.1 bn PAT

Pan Asia Banking Corporation PLC saw its post tax profit for the year ended December 31, 2015 (FY’15) increasing by as much as 151percent to surpass the key milestone of achieving a billion rupee profit.   

Fitch assigns Alliance Finance ‘BB+(lka)’ rating; Outlook Stable

Fitch Ratings Lanka has assigned Alliance Finance Company PLC (AFC) a National Long-Term Rating of ‘BB+(lka)’ with a Stable Outlook.