Notable
Interest income falls amid falling interest rates
Assessment also takes into consideration the local branches' strong operational integration with their head offices
The 2024 last quarter also saw ISB restructuring which boosted profits
The delegation engaged with local authorities to discuss Sri Lanka’s preparedness
Acquisitions of HDFC and SMIB by BOC and PB, respectively, would result in HDFC and SMIB benefitting from new owners
Sri Lanka banks have increasingly focused on digital banking since COVID19-pandemic
The upgrade comes from BOC's improved foreign-currency liquidity position since June 2022
Finance Companies are required to have a rating
Government credit continues to go up despite tax increases
Salaried SOE executives and port workers are protesting
So called Stage 3 loans have hit 10.9-pct by the 3rd quarter
Insurers are on rating watch negative at the new level
Govt borrowings Rs114bn, partly due to high rates
Sri Lanka sovereign rating
Single borrower exposure limits will also be reviewed to reduce the sovereign-bank nexus
| Latest | Last | |
|---|---|---|
| US Dollar | 332.3603 | 330.8514 |
| UK Pound | 440.9424 | 438.3450 |
| Euro | 368.4879 | 371.0168 |
| Yen | 2.0805 | 2.0916 |
| Aus Dollar | 227.4342 | 231.1659 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 3.5474 | 3.4202 |
| Korean Won | 0.2492 | 0.2479 |
| Oman Rial | 863.2287 | 859.3320 |
| Saudi Riyal | 88.5586 | 88.0955 |
| UAE Dirham | 90.4874 | 90.0766 |
| pts | % | |
|---|---|---|
| S&P SL20 | 6,365.57 | +0.26% |
| CSE All Share | 22,157.40 | +0.56% |
| Turnover Rs | 2975.05 million | 1193.67 million |
| Latest | Last | |
|---|---|---|
| 3-m bill | 7.61 | 7.84 |
| 6-m bill | 7.91 | 8.26 |
| 12-m bill | 8.23 | 8.3 |
| 3-yr bond | 9.24 | 9.25 |
| 5-yr bond | 9.82 | 9.56 |
| 8-yr bond | 10.50 | 10.48 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 7.70 | 7.69 |
| Gilt Repo | 7.74 | 7.72 |
| I-m SLIBOR | - | - |
Banking sector likely to collapse if government decides for domestic debt restructuring-analysts
Private credit contracted 224.4 billion rupees in the five months to October
They have given some already
We have made a request for banks not to compete for deposits
To support firms expanding internationally
To come as Banking (Special Provisions) Act
.
For firms in agriculture, exports and and tourism
And based on the final outcome capitalization will also take place
Limits will be imposed on deposit rates to reduce interest rates
Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated 1/1/20) and Privacy Policy and Cookie Statement (updated 1/1/20). Your California Privacy Rights. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Condé Nast. Ad Choices.
Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
© 2023 Echelon Media (PVT) Ltd. All Rights Reserved
4 min read