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Tuesday May 24th, 2022
Banking

Sri Lanka relaxes bank capital rules to cushion bond losses as rates spike

Banks face mark-to-market losses as well as bad loans from soft-peg crisis

May 24, 2022 2 min read

Sri Lanka bank credit jump Rs1.2trn in March in soft-peg collapse

Stability of foreign exchange rates was in their eyes a mischief, not a blessing

May 16, 2022 4 min read

Sri Lanka's Commercial Bank profits up 73-pct in March 2022 quarter

Net other operating income was loss of 12.2 billion rupees, loan loss provisions were down

May 16, 2022 2 min read

Sri Lanka central bank advances more dollars to banks

Total advanced to banks through swaps have risen to US$351mn

May 9, 2022 2 min read
Sri Lanka seeks forex liquidity support for state banks from AIIB

Minister Ali Sabry discussed the need for FOREX liquidity support for the state banks of Sri Lanka

Sri Lanka tightens bank dividends, profit repatriation to preserve capital

Banks were also asked not to buy back shares, to use "extreme due diligence and prudence" in capex

Sri Lanka's Bank of Ceylon 'CCC' rating place on watch for possible downgrade

Constrained access to foreign currency funding and indications of stress experienced by banks in the system as result

April 13, 2022 8 min read

Sri Lanka state private banks on watch for downgrade: Fitch

On heightened forex risks

April 13, 2022 4 min read

Sri Lanka CEB struggles to pay for coal, salaries amid tariff hike delay: report

State banks heavily exposed to energy utilities

March 29, 2022 2 min read

Sri Lanka opposition questions whether state bank delayed payment

Please look into this immediately

March 24, 2022 1 min read

Sri Lanka's LB Finance buys tiny Multi-Finance

A 64-pct stake for Rs400mn

March 16, 2022 1 min read

Sri Lanka price controls on credit cards, overdrafts, pawning to be raised: Central Bank

Credit cards (penal rates) now at 20-pct, T/ODs 18-pct and pawning 12-pct

March 4, 2022 1 min read

Sri Lanka's NTB Bank net up 77-pct in Dec 22 quarter

Strong credit growth

March 1, 2022 2 min read

Sri Lanka central bank not banned state banks from lending to CPC: CB Governor

CPC lending should be be under single borrower threshold

February 22, 2022 2 min read

Sri Lanka DFCC Bank net down 68-pct in Dec 22

DFCC's loan loss provisions in December quarter was 1.3 billion rupees up from 529.4 million a year earlier.

February 20, 2022 1 min read

Sri Lanka firms to sell dollar shares on stock exchange

Sri Lankan firms can now raise funds in foreign currencies through listing at Colombo Stock Exchange

February 19, 2022 2 min read
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Latest Last
US Dollar 364.4202 364.4504
UK Pound 458.4562 454.9265
Euro 387.0507 385.9320
Aus Dollar 260.3089 257.4611
Yen 2.8814 2.8648
Source: Central Bank/Indicative
Latest Last
Indian Rupee 4.6162 4.6218
Korea Won 0.2831 0.2831
Oman Rial 933.5913 933.6892
Saudi Riyal 95.8218 95.8319
UAE Dirham 97.8580 97.8683
Source: Central Bank/Indicative
pts %
S&P SL20 2,844.97 3.42%
CSE All Share 8,474.49 2.53%
Turnover Rs million 2,730,762,448 1,978,302,133
Source: CSE
Latest Last
3-m bill 21.98 21.19
6-m bill 22.23 21.80
12-m bill 22.89 22.67
5-yr bond 21.70 22.43
8-yr bond 21.46 22.52
Source: Central Bank/Indicative
today yesterday
Overnight Money 14.50 14.50
Gilt Repo 14.50 14.50
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka stocks fall to over 1-wk low on forced sales; LOFC boosts turnover

The key stock index has fallen 6.8 percent so far in February on forex, economic concerns

February 18, 2022 2 min read
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Sri Lanka's LOLC gets nod to buy Kenya micro-financier: report

Exempted from shareholder limits for 4 years

February 9, 2022 2 min read

Sri Lanka finance companies raise Rs12.5bn in new capital

Another 12 companies are in the process of consolidation

January 31, 2022 2 min read
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Sri Lanka bank pays China fertilizer firm after court order lifted

Ahead of visit by Chinese minister

January 8, 2022 1 min read

Sri Lanka's Alliance Finance gets US$5mn from EMF Microfinance Fund

After FMO funding

January 4, 2022 1 min read

Sri Lanka orders housing loans to be given at prime lending rate

After 5 years AWPR plus 200bp

January 3, 2022 1 min read

Sri Lanka's JKH, Central Finance asks for more time to cut NTB stake

Deadline to cut stake to 20-pct Dec 31

January 3, 2022 1 min read

Sri Lanka central bank controls dollar deposit rates amid currency crisis

To be 150bp below 364-day T-bill yield

January 2, 2022 3 min read

Sri Lanka's Alliance Finance gets second tranche of Dutch dollar credit

The funds will be on-lent to micro, small and medium enterprises

December 26, 2021 1 min read

Mark Surgenor heads HSBC Sri Lanka and Maldives

He had joined HSBC in 2009 and has worked in Europe, Latin America and Asia

December 1, 2021 1 min read
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