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Monday April 15th, 2024

Sri Lanka private credit expands in February

Rupee appreciation leads to parity changes in dollar credit

April 15, 2024 1 min read

Sri Lanka IMF, World Bank loan linked state bank reforms get cabinet nod

Reforms identified by a committee made up of IMF, World Bank and Central Bank officials

April 9, 2024 1 min read

Sri Lanka private banks unlikely to need state recapitalization

A budget for 2024 set aside 1.5-pct of GDP in allocations for possible bank recapitalization

April 4, 2024 1 min read

Sri Lanka banks asked to set up business revival units by May

Licensed banks have to set up BRUs by mid-May 2024 and fully comply with the guidelines by July 01

April 3, 2024 3 min read
Sri Lanka’s People’s Bank posts Rs19.3bn pre-tax profit

People's Bank is the second largest state bank by assets

Sri Lanka banks to set up business revival units for troubled borrowers: central bank

BRUs will help guide and strengthen small and medium enterprises

Sri Lanka CB urging banks to lower rates for SMEs despite parate suspension

Banks have warned that it would make them more cautions and SMEs are likely to have reduced access.

March 26, 2024 1 min read

Sri Lanka central bank removes price control on loans

Lending rates urged to fall further

March 26, 2024 1 min read

ADB approves US$100mn Sri Lanka SME loan

Women led SMEs to get support

March 18, 2024 2 min read

Sri Lanka’s International Financial City awaiting banking regulations

Banks operating within the Port City will be licensed by either the central bank or the country it is incorporated in.

Nethmi Rajawasam
March 14, 2024 3 min read

Kavan Ratnayaka appointed chairman of Sri Lanka's Bank of Ceylon

He has previously functioned as chairman of the National Development Bank PLC

March 13, 2024 1 min read

Sri Lanka's cabinet approves debt recovery suspension amendments

Cabinet approved changes to island's debt recovery laws to suspend sale of collateral by bank board resolution (parate)

March 12, 2024 1 min read

Sri Lanka parate suspension increases risk premium, endangers deposits, banks say


March 11, 2024 6 min read

NDB starts savings scheme for HNI children

Supports early entry to digital banking

March 10, 2024 1 min read

Sri Lanka Nawaloka Hospital gets court order to stop asset sale

Court of Appeal issues interim order preventing Hatton National Bank PLC from auctioning the property

March 1, 2024 1 min read

Sri Lanka planning bad-debt authority for parate execution nod: Justice Minister

We believe that there should be an intermediate regulatory authority

February 28, 2024 3 min read
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US Dollar 305.1018 305.3339
UK Pound 386.9523 387.2371
Euro 330.8712 332.1141
Aus Dollar 201.0018 201.4980
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Jayamin Pelpola appointed to Sri Lanka's BOC board

Jayamin Pelpola, a fintech entrepreneur and investor, appointed to board of Bank of Ceylon as non-executive director

February 27, 2024 1 min read

Sri Lanka to give Rs20bn in SME loans with ADB support

20 billion rupee loans scheme for small and medium enterprises hit by an economic crisis

February 27, 2024 1 min read

Sri Lanka to halt auction of bank loan collateral till Dec 15

A sufficient grace period to pay off relevant debts without being a burden to the banking system should be allowed

February 27, 2024 1 min read

Sri Lanka's Commercial Bank Dec net down on tax provisions

Pre-tax profits were Rs8.89bn Rs2.4bn but after tax profits were down amid a reversal

February 24, 2024 1 min read

Sri Lanka to halt parate execution of defaulted SME bank loans: Minister

Cabinet paper next week

February 21, 2024 2 min read

Sri Lanka private credit surge Rs97bn in Dec 2023

From June 2023, outstanding private credit went up by 345.7 billion rupees

February 5, 2024 2 min read

Sri Lanka transfers balance CPC forex crisis bank debt to government

State-run banks gave billions of dollar loans to the CPC as forex shortages emerged from inflationary rate cuts

February 5, 2024 4 min read

Sri Lanka signs World Bank $150 deposit insurance loan

The funds will come from the low-interest International Development Association window

February 2, 2024 1 min read

Sri Lanka's Commercial Bank eyes 20bn debenture sale

The bank is offering debentures at 100 rupees each, for tenures of 5 years, 7 years and 10 years.

January 31, 2024 1 min read

Sri Lanka CB warns against using personal bank accounts for business

CB considering legal action against registered limited liability companies using personal bank accounts for tax evasion

January 23, 2024 1 min read
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