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Wednesday December 7th, 2022
Banking

Sri Lanka to make banks buy finance company units, give tax credits

Sri Lanka will make finance companies owned by banks merge and where larger finance companies own smaller ones they will...

November 22, 2020 2 min read
3

Sri Lanka's Nations Trust Bank net up 20-pct in Sept quarter

Profits at Sri Lanka’s NTB Banknet profits grew 20 percent to 1.3 billion rupees in the September 2020 quarter from a ...

November 16, 2020 2 min read
3

Sri Lanka’s Seylan Bank net down 42-pct

Profits at Sri Lanka’s Seylan Bank fell 42 percent from a year ago to 624 million in the September 2020 quarter as loa...

November 16, 2020 2 min read
3

Sri Lanka's NDB Bank net up 31-pct in Sept 2020

Profits at Sri Lanka’s NDB Banknet profits grew 31 percent to 1.5 billion rupees in the September 2020 quarter from a ...

November 14, 2020 2 min read
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Bimputh Finance hit by micro-finance price controls, downgraded to 'BB-(lka): Fitch

Fitch Ratings Lanka said it had downgraded the rating of Bimputh Finance Plc, a non-micro-lender, to 'BB-(lka)' from 'BB...

July 13, 2019 4 min read

Central bank wants lending rates in Sri Lanka to fall 200bp

Sri Lanka's banks should lower the average lending rate by 200 basis points to avoid ceilings on lending rates Central B...

July 12, 2019 3 min read

Central bank cuts Sri Lanka 3-month deposit rate 1.7-pct under new price controls

Sri Lanka's central bank on Friday ordered a cut of 1.71 percent on 3-month deposits under its controversial price contr...

June 28, 2019 3 min read

Small, mid-sized Sri Lankan banks under pressure with thin capital, high risk: Fitch

ECONOMYNEXT- Sri Lanka's small and mid-sized banks (SMBs) are facing higher pressure due to thin capital buffers and hig...

June 28, 2019 3 min read

Sri Lanka bank bad loans rise 64-pct in 1Q 2019: Fitch

Bad loans at Sri Lanka's banks had risen 64 percent in the first quarter of 2019, the worst since 2013 when gold-backed ...

June 27, 2019 2 min read

Sri Lanka starts its own payment card to cut costs

Sri Lanka has started a national payment card which will settle domestic and international transaction partnering with J...

June 25, 2019 2 min read

National Savings Bank Sri Lanka rated [Sl] AAA by ICRA

ICRA Lanka Limited has given a rating of [SL] AAA with a stable outlook to state-run National Savings Bank backed by gov...

June 24, 2019 8 min read

Sri Lankan banks too risk-averse, regulator says

ECONOMYNEXT – Sri Lankan banks and private sector are still too cautious and not changed attitudes to reflect mod...

June 20, 2019 1 min read

ADB to re-finance Sri Lanka's Regional Development Bank micro loans

Manila-based Asian Development Bank said it loan 50 million dollars to state-run Regional Development Bank in Sri Lanka ...

June 15, 2019 2 min read

Bad loans at banks in Sri Lanka surge after 2018 monetary instability

Bad loans in Sri Lanka's listed banks have surged in the first quarter of 2019, as the credit system emerged from moneta...

June 14, 2019 4 min read
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US Dollar 371.7757 371.7599
UK Pound 442.7119 438.8584
Euro 387.1945 385.3880
Aus Dollar 253.0234 251.0798
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3-m bill 31.03 31.03
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Source: Central Bank/Indicative
today yesterday
Overnight Money 15.50 15.50
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Source: Central Bank/Indicative

Sanasa Development Bank buys Sri Lanka mobile payment start-up Upay

ECONOMYNEXT – Sri Lanka’s Sanasa Development Bank (SDB) has bought the UPay mobile payment platform for 20...

June 10, 2019 1 min read

Prime lending rate in Sri Lanka drops 38-bp in a week

Sri Lanka's average prime lending rate has dropped 38 basis points in the week to June 07, the central bank data showed,...

June 10, 2019 3 min read

Sri Lanka CB may build Chinese wall between EPF and bank supervision

Sri Lanka's central bank may consider further steps to reduce perceptions of conflicts of interest in bank regulation an...

Chandeepa Wettasinghe
June 6, 2019 2 min read

Global terror finance watchdog delays Sri Lanka exam after Islamist attacks

ECONOMYNEXT- The Financial Action Task Force, the global policy setter on anti-money laundering and anti-terrorism finan...

June 3, 2019 1 min read

Sri Lanka govt widens low interest loan schemes

ECONOMYNEXT – The Sri Lankan government has widened a credit scheme at subsidized interest rates to promote entre...

May 31, 2019 2 min read

Sri Lanka PABC net down 13-pct in March; loans contract

Profits at Sri Lanka's Pan Asia Bank fell 13 percent from a year earlier to 272 million rupees in the March 2019 quarter...

May 20, 2019 1 min read

Sri Lanka mulls 25-pct ownership limit in finance companies

Sri Lanka's central bank will be introducing a 25 percent ownership limit in licensed finance companies (LFCs) following...

May 17, 2019 2 min read

Sri Lanka Bank of Ceylon net down 12-pct in March; balance sheet shrinks

Profits at Sri Lanka's state-run Bank of Ceylon, the country's largest commercial bank fell 12 percent in the March 2019...

May 16, 2019 1 min read

Sri Lanka's Sampath Bank profits down 24-pct; balance sheet contracts

Profits at Sri Lanka's Sampath Bank fell 24.6 percent to 2.11 billion rupees in the March 2019 quarter from a year earli...

May 15, 2019 1 min read

Sri Lanka's HNB profits down 55-pct in March, credit flat

Profits at Sri Lanka's Hatton National Bank fell 55 percent to 1.94 billion rupees in the March 2019 quarter from a year...

May 15, 2019 2 min read
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