Fitch revises PABC’s outlook to negative; affirms at ‘BBB(lka)’

?Fitch Ratings Lanka has revised Sri Lanka-based Pan Asia Banking Corporation PLC’s (PABC) outlook to negative from stable. The agency has affirmed PABC’s National Long-Term Rating at ‘BBB(lka)’ and the rating on PABC’s outstanding subordinated debentures at ‘BBB-(lka)’.

CRIB celebrates silver jubilee

The Credit Information Bureau of Sri Lanka (CRIB) celebrated its 25th anniversary prestigiously by recognising and felicitating the people who played a significant role throughout the years. 

Asian Alliance Insurance posts Rs.250mn profit in 1Q

Reinforcing its status as one of the country’s fastest growing insurers, Asian Alliance Insurance PLC achieved a gross written premium (GWP) of Rs.867 million for life...

HNB Assurance March quarter net falls; GWP up by healthy 20%

?The net profit of the Hatton National Bank Group Insurance subsidiary, HNB Assurance PLC fell 71 percent to Rs.15.5 million for the quarter ended March 31, 2015 (1Q15) from a year ago. 

HNB offers convenient transactions for Continental Insurance customers

?Continental Insurance Lanka Ltd (CILL) customers can now use Hatton National Bank’s (HNB) internet and mobile banking platform and island wide Customer Centre network to carry out transactions for property, motor, marine and general accident insurance products of CILL.

Orient Finance and Bartleet Finance await SEC approval for amalgamation

?Orient Finance PLC and Bartleet Finance PLC said yesterday that they were awaiting Securities and Exchange Commission (SEC) approval to carry out the proposed amalgamation of the two entities.

Fitch affirms Sanasa Bank at ‘BB+(lka)’/Stable

?Fitch Ratings Lanka has affirmed Sanasa Development Bank PLC’s (SDB) National Long-Term Rating at ‘BB+(lka)’. The Outlook is Stable.

Fitch withdraws Pradeshiya Sanwardhana Bank’s rating

?Fitch Ratings Lanka has withdrawn Sri Lanka-based Pradeshiya Sanwardhana Bank’s (PSB) National Long-Term Rating of ‘BBB+(lka)’ with Stable Outlook. Fitch said it was withdrawing the rating as PSB has chosen to stop participating in the rating process. 

ComBank leads providing social inclusion with Digital Banking

?The Commercial Bank of Ceylon PLC has witnessed phenomenal growth in the use of the Bank’s Digital Banking services over the past three years, and now has arguably the largest proportion of customers using this channel among Sri Lankan banks. 

Strong core-banking operations boost DVB bottom line

?The DFCC group licensed commercial banking arm, DFCC Vardhana Bank PLC (DVB), posted a net profit of Rs.336.3 million for the quarter ended March 31, 2015 (1Q15)

SDB opens latest branch at Malabe

?SANASA Development Bank PLC (SDB) opened its new branch at Malabe on May 20th. SDB Malabe Branch was opened at Athurugiriya Road, Malabe with the objective of providing more efficient and friendly service to its customers with more sophisticated facilities. 

PLC commissions 1000 Customer Touch Points

?People’s Leasing & Finance PLC with a view to taking its financial services to the door-steps of prospective customers and enhancing its customer service channels, launched a program to commission innovative 1000 Customer Touch Points (CTPs).

UBC becomes first bank to implement Microsoft Cloud Technology

?Union Bank (UBC) has been recognised by Microsoft Sri Lanka as the first bank in the country to move into Microsoft’s Office 365 (O 365) Cloud Technology, further enhancing the bank’s operational excellence. 

PABC offers 13 months interest for 12-month FDs

?Pan Asia Bank has come out with a special 12-month Fixed Deposit promotion scheme that pays an additional one month’s interest at maturity. 

Richard Pieris Finance’ Islamic Finance Unit bags Gold Award

?The Islamic Finance Unit of Richard Pieris Finance bagged the Gold Award recently for Emerging Finance Entity of the year, organised by UTO Edu Consult in Sri Lanka, Islamic Banking Finance Industry (SLIBFI) 

Union Bank redefines banking experience at Kurunegala branch

?Union Bank of Colombo PLC recently unveiled a redefined banking experience at its Kurunegala branch, as part of its on-going branch development initiatives to strengthen its retail offering to customers. 

AIA wealth planners visit Stonehenge during Group Convention

?AIA Insurance Sri Lanka’s wealth planners visited the Stonehenge, a unique world heritage site, during AIA Group’s President Club Convention, which took place in England from late April to early May. 

We will be looking more into corporate banking sector: NSB Chairman

The state-owned National Savings Bank (NSB) will be looking to increase its presence in the corporate banking sector, a top official said. 

Janashakthi Insurance March net down 32%

?Composite insurer Janashakthi Insurance PLC recorded a net profit of Rs.106.3 million for the March quarter (1Q15), down 32 percent from a year ago, the interim financial accounts released to the Colombo stock Exchange showed. 

Investing in unit trusts: What you need to know

Navigating diverse investment tools can be perplexing for the average investor. Investor education is crucial as knowledgeable and empowered investors contribute towards a vibrant market. Unit trusts are one of many investment options available to investors.

ComBank in ten-day promotion in Batticaloa

The Commercial Bank of Ceylon recently concluded a successful engagement...

Amãna Bank continues profit momentum

Having recorded its first profitable quarter in 4Q 2014,...

First Capital Wealth Fund recognized as best performing Fixed Income Unit Trust for second year

First Capital Asset Management Limited, Managers of the First Capital Wealth Fund, announced a dividend of Rs. 140 per unit.

Amãna Bank relocates Akurana branch

Amãna Bank recently relocated its Akurana branch to a more spacious and customer-friendly location at Matale Road,...

CA Sri Lanka, SEC reward over 80 corporate directors

A total of 23 high profile corporate directors were bestowed with the ‘Accredited Director’ status,...

Commercial Credit to raise Rs.1bn via debentures

Commercial Credit and Finance PLC is raising Rs.1 billion via a debenture issue and the company....

Lankan corporate leaders, entrepreneurs to present at 15th CIM Annual Conference

Accomplished and respected Business leaders and entrepreneurs will be participating in a panel discussion with Al and Laura Ries at the 15th CIM Annual Conference held on May 11 and 12, at the BMICH. 

Microimage HCM Asia highlights tech challenges HR leaders face

?Microimage HCM Asia, a joint venture partner of OMESTI Group, flagged up the many technology challenges faced by HR leaders in today’s market at the recent inaugural MIHRM Technology Congress in Kuala Lumpur.

CCC releases statistical analysis on vehicle imports into Sri Lanka

?The Economic Intelligence Unit of the Ceylon Chamber of Commerce (CCC) has compiled a ‘Statistical Analysis’ on vehicle imports into Sri Lanka during the period of 2006 to 2014.

Dialog introduces 3rd party motor insurance with Ceylinco

?Sri Lanka’s premier telecommunication service provider, Dialog Axiata PLC, is adding further value to its innovative mobile insurance offering with the introduction of third party motor insurance together with Ceylinco Insurance PLC.