People’s Bank celebrates International Women’s Day

A special ceremony was organised by People’s Bank on the International Women’s Day under the patronage of People’s Bank Chairman Sujeewa Rajapaksa and Chief Executive Officer/General Manager Ranjith Kodituwakku, at the People’s Bank head office in Colombo 2, in adherence with all government-mandated safety guidelines.

HNB General Insurance grows well above industry growth

HNB General Insurance Limited (HNBGI), a leading general insurance service provider in the country, recorded an impressive growth of 13 percent surpassing the industry’s growth rate of 2.8 percent, posting a gross written premium (GWP) of Rs.5.6 billion during the 12 months ended in December 2021.

Alliance Finance with OpenArc launches BankFair.lk

Alliance Finance PLC, one of the oldest and largest finance companies in Sri Lanka with a countrywide branch network, recently signed the agreement with OpenArc Systems Management (Pvt.) Ltd to launch BankFair.lk, the digital banking solution for customer onboarding.

Merchant Bank of Sri Lanka rings bell to celebrate 40 years of operations

Merchant Bank of Sri Lanka & Finance PLC (MBSL) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) on March 4, to celebrate its 40th year anniversary.

NDB recognises Trailblazers

NDB recently held its Annual Retail Banking Awards as a dual awards ceremony for the years 2020 and 2021 in order to recognise the bank’s top achievers in the retail banking sector.

MBSL partners with Affiniti to improve receivable management

Merchant Bank of Sri Lanka & Finance PLC (MBSL) recently signed an agreement with Affiniti Innovations to implement the Affiniti delinquency management system to streamline, automate and improve the receivable management functions of MBSL.

LankaPay cards offer lowest merchant commission at 1%

Taking another gigantic leap towards harnessing financial inclusivity, LankaPay national payment network makes its debut in the payment card industry in Sri Lanka with the introduction of the LankaPay Card.

NDB Wealth empowers women to achieve financial security

Expert financial planner NDB Wealth celebrated the International Women’s Day on March 8, 2022, with emphasis on empowering women to better understand the financial world in order to achieve financial security, a crucial and widely contributing factor supporting the financial independence of women.

SLI introduces ‘Jana Rekuma’ to extend insurance for masses

Sri Lanka Insurance (SLI) introduces ‘Jana Rakuma’ individual personal accident cover to extend the benefits of insurance to the general masses of Sri Lanka.

NTB expands digital banking services with Keells – Hokandara CRM

Nations Trust Bank (NTB) has expanded the physical touchpoints seamlessly by connecting its digital banking capabilities through the bank’s ATM network with its latest cash deposits and withdrawal machine located at Keells Supermarket in Hokandara.

Union Assurance Circle of Excellence relaunches with bigger and better rewards

Union Assurance Circle of Excellence, the most exclusive bancassurance rewards scheme in the Sri Lankan insurance industry, has been relaunched with a bigger and better rewards scheme to recognise the company’s high-performing insurance relationship officers (IROs), regional managers and zonal managers.

CPM ranks ComBank among top 10 best-managed firms

The Institute of Chartered Professional Managers of Sri Lanka (CPM) has ranked Commercial Bank of Ceylon among the 10 best-managed companies in Sri Lanka in the two years affected by the global pandemic.

Pan Asia Bank relocates Pillimathalawa branch

Pan Asia Bank relocated its Pilimathalawa branch, on March 2, 2022, to No.217, Kandy Road, Manadeniya, Pilimathalawa.

Kusal Jayawardana appointed as Alliance Finance Deputy Managing Director

Kusal Jayawardana has been appointed as Deputy Managing Director of Alliance Finance Company PLC (AFC), with effect from March 1, 2022 and prior to his new appointment, he served on the board of AFC as Executive Director Finance and Operations, since 2018.

MBSL marks a strong turnaround in 2021

Merchant Bank of Sri Lanka and Finance PLC (MBSL) announced yesterday that it has made a strong turnaround in 2O21. It has reported Rs.812 million as profit before tax (PBT) for 2021, compared to a loss of Rs.1.3 billion in 2020.

Fitch rates Seylan Bank’s proposed Basel III sub-debt ‘BBB+(EXP)(lka)’

Fitch Ratings has assigned Seylan Bank PLC’s (A(lka)/Stable) proposed Sri Lankan rupee-denominated, Basel III-compliant subordinated unsecured debentures an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’.

Sampath Bank recognised with top honours for innovative IT solutions

Sampath Bank was proud to be recognised at the NBQSA for the ninth consecutive year with several top honours for its innovative IT Solutions at the National Best Quality ICT Awards 2021 (NBQSA), which was held recently at the Sirimavo Bandaranayake Memorial Exhibition Centre, proving the bank is the pioneer in introducing state-of-art IT solutions to the banking and finance industry in Sri Lanka.

Sri Lanka and Greenstat sign agreement to pilot green hydrogen generating project

Greenstat Hydrogen India has signed an agreement with the Sri Lanka Petroleum Development Authority to collaborate on a pilot project for generating green hydrogen in Sri Lanka.

AISL holds Annual General Meeting

The 12th Annual General Meeting of the Association of International Schools in Lanka Inc. (AISL) was held recently at Waters Edge Colombo.

another all-time record price for Aislaby Estate

Aislaby Estate managed by Malwatte Valley Plantations PLC, once again established an all- time record price of Rs.1, 060 per kg for a FBOPF1 grade, in the Uva High category at the weekly auction held on 01st March.

Corporate personality Sega Nagendra passes away

Well known corporate personality and the past Chairman and former Trustee of Colombo Club Sega Nagendra has passed away.

UGS seeks funding, technical know-how for waste management project

The start-up company Universal Green Solutions, (UGS),which is focused on providing waste management solutions, is currently in the process of developing a waste converting machine to be deployed in Sri Lanka.

BOC brings digital customer banking experience to Wadduwa

With the aim to provide added convenience along digital banking, the Bank of Ceylon-Wadduwa moved to its own building at a new location recently.

Daraz partners with NTB to introduce e-commerce co-branded credit card

Daraz Sri Lanka recently partnered with Nations Trust Bank (NTB) to introduce the first-ever co-branded credit card in Sri Lankain collaboration with Mastercard.

Amana Bank reports strong 22% growth in advances in 2021

Amana Bank PLC saw its December quarter performance languishing in the three months to December 31, 2021 (4Q21) due to the pressure coming from the rising funding cost but the bank defended its margin amid the robust growth in advances during the year.

Seylan Bank launches ‘Seylan Accelerate’ with distinct features to fast-track aspiring lifestyles

Seylan Bank launched ‘Seylan Accelerate,’ a new age product with a distinct bundle of features, tailored to support those who aspire to uplift their lifestyle. Seylan Bank’s goal is to establish a platform assisting their financial requirements while providing a variety of inspiring opportunities that enable them to accelerate into the future.

Vallibel Finance reports strong 3Q amid robust loan growth

Vallibel Finance PLC reported some solid financial performance for the three months ended on December 31, 2021, providing a glimpse into how the mid-sized non-bank financial services sector had broadly performed in the final three months of 2021, where the interest rates were on the climb.

HNB Assurance records 29% GWP growth in FY21

HNB Assurance PLC (HNBA), a leading life insurer in the country, recorded an impressive growth of 29 percent for the fiscal year 2021 in terms of gross written premium (GWP), recording Rs.7.1 billion.

HNB Al Najaah celebrates 10 years of Islamic banking excellence

Sri Lanka’s largest retail bank Hatton National Bank PLC’s Islamic banking business celebrated a decade of successful operations under the Al Najaah brand.

LCB Finance expands to Akuressa

The 12th branch of Lanka Credit and Business Finance PLC LCB) was declared open in Akuressa amidst a gathering of distinguished invitees and prospective customers, which is the eighth branch established in the Southern province.