An Echelon Media Company
Tuesday January 31st, 2023
Banking

Kevin Green to head HSBC wholesale banking in Sri Lanka, Maldives

To support firms expanding internationally

November 30, 2022 1 min read

Sri Lanka bank resolution framework cleared by cabinet

To come as Banking (Special Provisions) Act

November 22, 2022 1 min read

Sri Lanka banks facing challenges in current crisis as bad loans spike: Central Bank

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November 10, 2022 2 min read

Sri Lanka to give cut-price loans to small and micro firms hit by crisis

For firms in agriculture, exports and and tourism

October 31, 2022 1 min read
Bad loan provisions erode Sri Lanka banks' profit amid looming domestic debt restructuring

Banking sector likely to collapse if government decides for domestic debt restructuring-analysts

Sri Lanka private credit negative, govt credit up in Oct

Private credit contracted 224.4 billion rupees in the five months to October

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

May 9, 2022 1 min read

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

May 8, 2022 1 min read

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
Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
Latest Last
US Dollar 371.7127 371.6601
UK Pound 453.5962 453.9794
Euro 396.3156 396.4763
Aus Dollar 250.1862 251.1981
Yen 2.8251 2.7549
Source: Central Bank/Indicative
Latest Last
Indian Rupee 4.3961 4.3963
Korea Won 0.2820 0.2791
Oman Rial 943.2237 943.2268
Saudi Riyal 96.7270 96.7115
UAE Dirham 98.8729 98.8786
Source: Central Bank/Indicative
pts %
S&P SL20 2,653.84 -1.51%
CSE All Share 8,420.26 -1.04%
Turnover Rs million 4,621,153,484 2,824,714,520
Source: CSE
Latest Last
3-m bill 31.03 31.03
6-m bill 29.57 29.60
12-m bill 28.41 28.41
5-yr bond 27.49 27.57
8-yr bond 27.44 27.23
Source: Central Bank/Indicative
today yesterday
Overnight Money 15.50 15.50
Gilt Repo 15.50 15.50
I-m SLIBOR - -
Source: Central Bank/Indicative

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
1

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
1

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
1

Sri Lanka bank pays China fertilizer firm after court order lifted

Ahead of visit by Chinese minister

January 8, 2022 1 min read