Union Bank Team excels at Bancassurance Diamond Awards

Union Bank team was recognised for their outstanding performance at the Union Assurance - Union Bank Bancassurance Diamond Awards 2022 held recently.

M Power Capital appoints new CEO

M Power Capital., one of the corporate finance and investment banking firms in the country, announced the appointment of Lakmal Jayarathne as its new CEO with effect from April 2023.

Cargills Bank reports profitability turnaround with robust income growth and operating cost mgt.

Cargills Bank reported a profit before tax of Rs. 206 million for the financial year 2022, recovering from a loss before tax of Rs. 369 million in the previous year, driven by robust growth inoperating income that offset erosions due to increased provisioning and operating costs.

LOLC secures people’s top choice for 6th consecutive year

LOLC Holdings PLC has once again proven its unwavering commitment to excellence by clinching the coveted title of “People’s Financial Services Brand of the Year” at the 2023

ComBank launches LankaPay cards in Sri Lanka

Sri Lanka’s payment cards domain took a giant leap when Commercial Bank of Ceylon in collaboration with LankaPay launched a national credit and debit card with international acceptance.

NDB initiates preparatory measures for future issuance of sustainability bonds

Furthering National Development Bank PLC’s (NDB) commitment towards a greener planet and a sustainable business model, the bank entered into a memorandum of understanding with the Global Green Growth Institute (GGGI) recently, at the boardroom of NDB Bank, Nawam Mawatha, Colombo 2.

LOLC General Insurance joins forces with Union Bank

LOLC General Insurance PLC, one of Sri Lanka’s finest and fastest growing insurers, recently entered into a strategic partnership agreement with Union Bank.

HNBGI ends 2022 with 21% jump in GWP over last year

HNB General Insurance (HNBGI) closed on yet another impressive year, contributing handsomely to the overall achievement of the HNB Assurance group. HNBGI recorded an impressive growth of 21 percent in its gross written premium (GWP) as at end-December 2022, to reach Rs.6.8 billion.

People’s Bank ‘Vaasi Kotiyai’ grand draw picks Rs.10mn super winner

The grand draw of People’s Bank’s People’s Remittance ‘Vaasi Kotiyai, Ewannai Dinannai’ bonanza, to choose the super winner of the Rs.10 million grand prize, took place at the People’s Bank, Overseas Customer Services premises, in Colombo 10, recently.

Softlogic Life to share growth story with investors on April 3 at Shangri-La

Sri Lanka’s second largest life insurer Softlogic Life will host an Investor Forum on April 3, at Shangri-La.

NAMAL at forefront of innovation in unit trust industry

National Asset Management Limited (NAMAL), set up in 1991, is Sri Lanka’s pioneering unit trust company. NAMAL is a subsidiary of Union Bank of Colombo PLC, in association with DFCC Bank PLC.

People’s Leasing closes 3Q on commendable note

With a notable quarterly profit of Rs.959 million for the third quarter of the financial year 2022/23, People’s Leasing & Finance PLC’s (People’s Leasing/ PLC) Profit After Tax (PAT) for the period ended 31, December 2022 reached Rs. 1,637 million, demonstrating the company’s sustained ability to manage its core drivers in the midst of turbulent times while prudently managing the assets and liabilities.

Lessons for Central Banks from Credit Suisse collapse

An international news agency asked me this; what are the lessons for Sri Lanka from the Credit Suisse collapse? I responded by saying 2 lessons.

Ceylinco Life celebrates 35th anniversary with historic achievement and awards event

Ceylinco Life celebrated its 35th anniversary and 19th year of market leadership with a spectacular annual awards event at which it recognised 259 exceptional performers with generous awards that fittingly rewarded their outstanding contributions to the company’s results in 2022.

Seylan Bank reaches 35-year milestone in SL’s financial sector

Seylan Bank marked its 35 years in the local banking and financial sector, and celebrated outstanding customer service and unwavering dedication to excellence.

NDB crowned as Most Awarded Corporate in Sri Lanka for second consecutive year

National Development Bank PLC emerged as the most awarded corporate in Sri Lanka for 2022 as per annual rankings issued by the Sri Lankan business publication the LMD.

Future Life Investments wins ‘Best Micro Finance Company of the Year’ award

Future Life Investments Limited (FLI), an up-and-coming microfinance company, won the Best Microfinance Company of the Year at BWIO International Awards, organized by Business World International Organization. This gala event was held recently at Taj Samudra Hotel, Colombo.

ComBank cardholders offered discounts up to 50% to sweeten Avurudu further

Commercial Bank’s credit and debit cardholders can look forward to discounts of up to 50 percent at more than 3,500 merchant outlets in addition to Easy Payment Plans this festive season, with the launch of the bank’s ‘Avurudu’ card offers for 2023.

HNB Assurance and HNBGI join hands to launch ‘Liya Harasara’ 2023

HNB Assurance PLC, together with its fully-owned subsidiary, HNB General Insurance Limited, launched the 11th edition of Liya Harasara, an annual initiative aimed at paying tribute to the gracious spirit of womanhood and celebrating International Women’s Day.

HNB honoured as Best Retail Bank in Sri Lanka for 13th year

Consolidating its position as Sri Lanka’s undisputed leader in retail banking, HNB PLC was once again crowned as the Best Retail Bank in Sri Lanka for the 13th occasion at the Asian Banker Global Excellence in Retail Financial Services Awards 2023.

CDB opens Regional Office in Kurunegala

Citizens Development Business Finance PLC (CDB) created a revolutionary chapter in its history when it opened its wholly owned regional Office in Kurunegala.

People’s Bank becomes first bank to issue and acquire LankaPay debit card

People’s Bank has stepped forward once again to strengthen Sri Lanka’s economy by saving valuable foreign exchange via a partnership with LankaPay to issue debit cards under the National Card Scheme (NCS).

Ceylinco Life retains market leadership for 19th consecutive year

Ceylinco Life policyholders received a mammoth Rs. 18.9 billion in net claims and benefits in 2022, as the company achieved its 19th consecutive year of market leadership in Sri Lanka’s life insurance sector with gross written premium income of Rs. 29.16 billion for the 12 months ending 31st December.

Pan Asia Bank clinches Gold at Effies

Pan Asia Bank won a Gold and Bronze award at the 2022 Effie Awards held recently.

Sampath Bank to boost economy with IFC’s US$ 400mn cross-currency swap

In an effort to support Sri Lanka by stabilising the nation’s economy amid an ongoing economic crisis, the International Finance Corporation (IFC), a member of the World Bank Group, has stepped forward to provide a cross-currency swap facility to Sampath Bank PLC, along with two other private banks.

Pan Asia Bank posts compelling performance in FY22

Pan Asia Banking Corporation PLC reflected resilience amidst a multitude of adversities emerging from challenging macro-economic conditions, as the bank reported its financial performance for the year 2022, which showed judicious portfolio management and prudency exercised in managing asset quality.

LOLC Finance wins ‘Best Corporate Citizen Sustainability Award’ for economic contribution

LOLC Finance PLC was presented with the category honour “Best Corporate Citizen Sustainability Awards 2022 for Economic Contribution” as a joint award with a leading bank.

Sanasa Life opens 96th branch in Kuliyapitiya

Sanasa Life PLC recently inaugurated its 96th branch, adding the hub of Kuliyapitiya, to its growing Island wide network.

HNB reiterates importance of developing a national savings culture

As more Sri Lankans face concerns over their personal financial security, and that of the country, HNB is working to help raise awareness on the opportunities that every Sri Lankan can access, in order to develop their savings habits, and help drive an effective savings culture nationwide.

ComBank adjudged ‘Best SME Bank’ in Sri Lanka by Global Finance

Commercial Bank of Ceylon’s impactful efforts to support the local SME sector were recently acknowledged on a global platform when the bank won the award for the ‘Best SME Bank’ in Sri Lanka from the New York-headquartered Global Finance magazine.