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Sunday August 14th, 2022
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Notable
New account created in all banks to help invest in Colombo Port City
Dollar denominated credit repaid by state and private borrowers
Has government securities
Under monetary instability it is not just ISBs that went up but also bank dollar borrowings
Govt credit also moderates amid credit line
We believe the foreign-currency funding and liquidity profile is highly stretched
Rosha had met with key clients of the bank and discussed their challenges
Non performing loans go through a recovery process
Times are extraordinary with the macro stresses clearly unprecedented
Banks face mark-to-market losses as well as bad loans from soft-peg crisis
Stability of foreign exchange rates was in their eyes a mischief, not a blessing
Net other operating income was loss of 12.2 billion rupees, loan loss provisions were down
Total advanced to banks through swaps have risen to US$351mn
Minister Ali Sabry discussed the need for FOREX liquidity support for the state banks of Sri Lanka
Banks were also asked not to buy back shares, to use "extreme due diligence and prudence" in capex
Constrained access to foreign currency funding and indications of stress experienced by banks in the system as result
| Latest | Last | |
|---|---|---|
| US Dollar | 368.5670 | 368.6127 |
| UK Pound | 450.8744 | 447.0879 |
| Euro | 381.8782 | 378.4089 |
| Aus Dollar | 263.9965 | 258.8081 |
| Yen | 2.7764 | 2.7436 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 4.5327 | 4.5360 |
| Korea Won | 0.2766 | 0.2758 |
| Oman Rial | 937.2606 | 937.4943 |
| Saudi Riyal | 96.0666 | 95.9947 |
| UAE Dirham | 98.2413 | 98.2658 |
| pts | % | |
|---|---|---|
| S&P SL20 | 3,072.01 | 4.88% |
| CSE All Share | 9,027.48 | 3.69% |
| Turnover Rs million | 6,339,984,932 | 4,506,916,091 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 26.24 | 26.34 |
| 6-m bill | 26.52 | 26.51 |
| 12-m bill | 27.36 | 27.11 |
| 5-yr bond | 23.86 | 23.10 |
| 8-yr bond | 24.21 | 24.35 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 15.50 | 15.50 |
| Gilt Repo | 15.50 | 15.50 |
| I-m SLIBOR | - | - |
On heightened forex risks
State banks heavily exposed to energy utilities
Please look into this immediately
Credit cards (penal rates) now at 20-pct, T/ODs 18-pct and pawning 12-pct
CPC lending should be be under single borrower threshold
DFCC's loan loss provisions in December quarter was 1.3 billion rupees up from 529.4 million a year earlier.
Sri Lankan firms can now raise funds in foreign currencies through listing at Colombo Stock Exchange
The key stock index has fallen 6.8 percent so far in February on forex, economic concerns
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