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Friday September 30th, 2022

Sri Lanka's Central Finance rating confirmed at 'A+(lka)' amid NPL spike

Fitch Ratings said it was confirming an 'A+(lka)' rating of Central Finance Plc, Sri Lanka's fourth largest finance comp...

September 15, 2020 4 min read

Sri Lanka finance leasing NPLs spike to 14-pct in June 2020

Sri Lanka's finance and leasing company non-performing loans spiked to 14.14 percent in June 2020 from 11.37 percent in ...

September 15, 2020 3 min read

Sri Lanka LB Finance 'A-(lka)' confirmed, Fitch expected import controls to drive gold loans

Fitch Ratings has confirmed an 'A-(lka)' rating of LB Finance, Sri Lanka's third largest non-bank finance leasing compan...

September 14, 2020 7 min read

Sri Lanka NPLs rise to 5.3-pct of loans in 2020 June

Non-performing loans at Sri Lanka's commercial banks grew to 5.3 percent of total loans by June 2020, from 4.9 percent i...

September 10, 2020 2 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

Sri Lanka bank bad loan provisions surge with new accounting rule: Fitch

ECONOMYNEXT - Sri Lankan banks have seen a surge in provisioning for bad loans with the adoption of a new accounting ru...

March 21, 2019 3 min read

Sri Lanka non-bank lenders face asset quality, profitability pressure: Fitch

ECONOMYNEXT - Sri Lanka’s non-bank finance companies will face pressure on asset quality and profitability in the...

March 19, 2019 2 min read

Sri Lanka newly-weds, migrant workers to get subsidised housing: Budget 2019

ECONOMYNEXT – Sri Lanka’s 2019 government budget will offer a host of subsidised loans to beneficiaries ra...

March 5, 2019 3 min read

Sri Lanka banks exceed revised SME lending targets

Sri Lankan banks have exceeded lending targets for micro, small and medium scale enterprises (MSMEs) under programs with...

March 1, 2019 3 min read

Sri Lanka's Seylan Bank December quarter profits slashed on write-downs

Profits at Sri Lanka's Seylan Bank Plc in the December 2018 quarter was wiped out by a one-off provision for retirement ...

February 21, 2019 2 min read

Sri Lanka's The Finance trading suspended over accounting issues

Sri Lanka's The Finance Company Plc, a troubled non-bank lender which was slapped with a cease-and-desist order by the r...

February 21, 2019 1 min read
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Cargills supermarket chain to accept payment for SriLankan online bookings

Cargills Food City supermarkets and Cargills Bank branches will accept payment for Sri Lankan airlines tickets booked on...

February 20, 2019 1 min read

Sri Lanka's NSB local rating downgraded after re-calibration

Fitch Ratings has downgraded state-run National Savings Bank to 'AA+(lka)' from 'AAA(lka)' following a downgrade of the ...

February 18, 2019 3 min read

Sri Lanka on new EU list of high risk countries

Sri Lanka has been placed on a new European Union list of high risk countries where bank have to exercise extra due dili...

February 17, 2019 1 min read

Sri Lanka regulator halts deposit taking, lending by The Finance Co

Sri Lanka's Central Bank said The Finance Company, a troubled non-banker lender which got into difficulties in 2008, wil...

February 15, 2019 4 min read

Sri Lanka's Sampath Bank profits down amid loan losses

Sri Lanka's Sampath Bank said its net profits for the December 2018 quarter fell 31.8 percent to 2.7 billion rupees from...

February 15, 2019 2 min read

Bigger lenders also behaving like 'loan sharks' in Sri Lanka: Finance Minister

Sri Lanka is bringing laws to regulate micro-finance which are behaving like loan sharks giving loans to people who cann...

February 15, 2019 3 min read

Fitch cuts outlook of Sri Lanka's NDB on risk appetite, falling capital

ECONOMYNEXT - Fitch Ratings said it was cutting the outlook on Sri Lanka's 'A (lka)' rated National Development Bank to ...

February 13, 2019 5 min read

Ronald Perera re-appointed as Bank of Ceylon Chairman

Sri Lanka's state-run Bank of Ceylon said Ronald C Perera was re-appointed as Chairman.

February 13, 2019 1 min read

Sri Lanka banks to seek more foreign funding, but pay more: S&P

Sri Lanka's banks are expected to borrow more from foreign markets, which could lower profitability due to bigger hits f...

February 12, 2019 3 min read

Sri Lanka's NDB net up 74.4-pct in December

Sri Lanka's National Development Bank Plc (NDB) net profits in the December quarter grew 74.4 percent to 1.7 billion rup...

February 12, 2019 2 min read