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Tuesday November 29th, 2022

India's ICICI Bank exits Sri Lanka

India's ICICI Bank Limited has been given approval to close down its business in Sri Lanka's capital Colombo, the island...

October 23, 2020 1 min read

Sri Lanka's Softlogic Finance to raise Rs1.9bn from cash call

Sri Lanka's Softlogic Finance, a licensed non-bank lender said it had received the nod from the Colombo Stock Exchange t...

October 21, 2020 1 min read

Sri Lanka finance companies hit by Coronavirus, import controls: Fitch

Sri Lanka's finance and leasing companies (FLCs) would be hurt further from the risk of a 'second wave' of Coronavirus w...

October 21, 2020 3 min read

Sri Lanka's DIMO, NTB link up finance pre-owned Mercedes, Jeep cars amid import controls

Dimo, the agents for Mercedes-Benz and Jeep in Sri Lanka said it was teaming up with Nations Trust Bank to help lease bo...

October 18, 2020 2 min read
Sri Lanka Fitch rated banks fare better than expected, bad loans 9.1-pct

Expects bad loans to rise to 10.5 percent by year end

Sri Lanka top banks has high exposure to sovereign debt, past haircuts have averaged 37-pct: Fitch

"The exposure of Fitch-rated banks to the sovereign was 39-pct of assets and 471 percent of equity as at end-2020"

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

Sri Lanka ETI directors' assets being sold to repay depositors: Central Bank

ECONOMYNEXT – Assets of directors of ETI Finance Ltd. (ETIF) are being sold to repay depositors, with 20 percent ...

May 2, 2019 2 min read

Sri Lanka details price controls on bank deposits up to June 30

Sri Lanka's Central Bank has set interest ceilings for bank deposits for the quarter ending June 30, on a base rates for...

April 30, 2019 2 min read

Sri Lankan banks cut deposit rates

ECONOMYNEXT - Sri Lanka's listed private banks have reduced deposit rates after the Central Bank directed banks and fina...

Tania Madies
April 29, 2019 2 min read

Sri Lanka's NTB to get IFC backed US$50mn syndicated loan

Washington-based International Finance Corporation said it is planning to syndicate a 50 million US dollar loan for Sri ...

April 20, 2019 1 min read

Sri Lanka private credit barely grows in Feb 2019, currency peg strong

Sri Lanka's private credit barely grew in February 2019, though no longer contracting like in January 2019, while new cr...

April 16, 2019 5 min read

Sri Lanka Central Bank launches Sustainable Finance Roadmap

Sri Lanka's Central Bank has launched a Sustainable Finance Roadmap with support from the International Finance Corporat...

April 11, 2019 2 min read

Sri Lanka predatory lenders abuse financial ignorance of people

ECONOMYNEXT – Sri Lanka’s unregulated financial institutions thrive on the financial ignorance of the peop...

Mahadiya Hamza
April 10, 2019 2 min read

Sri Lanka to offer leeway on new regulations for small banks, finance companies

Sri Lanka's central bank is offering breathing space for small and medium sized banks and non-bank finance companies to ...

April 9, 2019 2 min read

Sri Lanka digital banking transactions double in third quarter of 2018

ECONOMYNEXT – Real-time digital transactions on Sri Lanka’s common electronic fund transfer system more th...

April 5, 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 371.7757 371.7599
UK Pound 442.7119 438.8584
Euro 387.1945 385.3880
Aus Dollar 253.0234 251.0798
Yen 2.6686 2.6603
Source: Central Bank/Indicative
Latest Last
Indian Rupee 4.4818 4.4863
Korea Won 0.2748 0.2747
Oman Rial 944.1068 944.1068
Saudi Riyal 96.7270 96.7115
UAE Dirham 98.9627 98.9627
Source: Central Bank/Indicative
pts %
S&P SL20 2,464.20 -3.19%
CSE All Share 8,087.04 -2.47%
Turnover Rs million 1,626,658,918 1,576,314,848
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 to bring credit regulation law for micro loan sharks

Sri Lanka will bring a credit regulation law to protect consumers from micro loans given by loan sharks, Finance Ministe...

April 5, 2019 1 min read

Citibank’s Sri Lanka unit maintains zero bad loans record, retains 'AAA(lka)' rating

ECONOMYNEXT – Fitch Ratings Lanka said it has confirmed Citibank N.A. – Colombo Branch's national long-ter...

April 2, 2019 3 min read

Private credit in Sri Lanka turns negative after four years in Jan 2019

Sri Lanka's credit to private borrowers from commercial banks turned negative in January 2019 for the first time since 2...

April 1, 2019 4 min read

Enterprise Sri Lanka credit grows to Rs79bn

Loans under Enterprise Sri Lanka subsidized credit has totaled 79 billion rupees to 46,673 recipients since the program ...

March 31, 2019 1 min read

Sri Lanka's Sanasa Bank in the red in Dec 2018 quarter

Sri Lanka's listed Sanasa Development Bank reported a loss of 26.1 million rupees in the December 2018 quarter, down 113...

March 31, 2019 2 min read

Sri lanka's Sanasa to get US$10mn in Dutch funding

Sri Lanka's Sanasa Development Bank Plc, a publicly traded firm linked to the co-operative movement, said it planned to ...

March 30, 2019 1 min read

Sri Lanka's state-owned People's Bank 2018 profits up 3.5-pct

ECONOMYNEXT - Profits at Sri Lanka's state-owned People's Bank grew 3.5 percent from a year earlier to 20 billion rupees...

March 29, 2019 2 min read

Sri Lankan bank lending boost from polls spending

ECONOMYNEXT – Forthcoming elections could help boost lending by Sri Lankan banks if it leads to higher government...

March 27, 2019 1 min read

Sri Lanka banks, Thomas Cook, win currency exchange franchises at airport

Sri Lanka has awarded three-year franchises to operate foreign currency exchange couners at the main airport in the coun...

March 24, 2019 1 min read

Mastercard offers overseas hospital discounts for Sri Lankan cardholders

ECONOMYNEXT – Mastercard said it was offering Sri Lankan cardholders a range of discounts at top hospitals in Asi...

March 21, 2019 1 min read