An Echelon Media Company
Sunday February 5th, 2023
Banking

Sri Lanka bank - finance company mergers could deny credit to some borrowers: Fitch

A proposal in Sri Lanka's budget for 2021 to merger finance and leasing companies with their parents will result in cust...

November 24, 2020 5 min read

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

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

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
DFCC Bank Sri Lanka net down 19 percent in June quarter

Bank makes makes provisions to cover uncertainties

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

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
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 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

Sri Lanka regulator extends curbs on The Finance Co

ECONOMYNEXT - Sri Lanka's Central Bank said it will extend a ban preventing The Finance Company (TFC), a troubled non-ba...

May 15, 2019 1 min read

Sri Lanka's Commercial Bank net down 23-pct; loans contract

Profits at Commercial Bank of Ceylon, Sri Lanka's largest privately held bank, fell 23 percent to 3.129 billion rupees i...

May 15, 2019 2 min read

Sri Lanka private credit weak in March

Loans to the private borrowers from commercial bank in Sri Lanka picked was 23 billion rupees in March 2019, sharply bel...

May 13, 2019 2 min read

Sri Lanka mulls possible relief for leased vehicles used in tourism

Sri Lanka is considering a request made to give debt relief for owners of leased vehicles used in tourism, State Ministe...

May 10, 2019 1 min read

Sri Lanka's Rs53B deposit insurance fund grows 7-pct in 2018

ECONOMYNEXT - Sri Lanka's Central Bank said a deposit insurance fund it manages has grown 7 percent from a year earlier ...

May 3, 2019 2 min read