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Friday August 12th, 2022

Sri Lanka private credit negative in July, credit to government surges

Sri Lanka's private credit was negative for the third straight month in July 2020, contracting 3.6 billion rupees, while...

September 3, 2020 2 min read

Sri Lanka central bank extends debt moratorium for tourism till March 2021

Sri Lanka's banks have been directed by the central bank to extend a Covid-19 debt moratorium for six months from Octobe...

August 29, 2020 3 min read

Sri Lanka planning SME development bank, credit guarantee agency: CB Governor

Sri Lanka is planning a new development bank to fund small and medium enterprises and a credit guarantee fund, as part o...

August 28, 2020 1 min read

Sri Lanka central bank approves Rs100bn re-finance credit, deadline extended

Sri Lanka's central bank said it had approved over 100 billion rupees under a subsidized credit scheme for Coronavirus h...

August 26, 2020 1 min read
Sri Lanka to set up state-run Youth Start up fund, loan guarantee fund: Namal

Sri Lanka will set up a state-run Youth Startup Fund and a Guarantee Fund to help young entrepreneurs get capital, Minis...

Sri Lanka raises finance company forex borrowing ceiling

Sri Lanka's central bank said it is raising the foreign borrowing limit of licensed finance companies (LFCs) to 20 to pe...

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

ETI asset sale: Sri Lanka CB says did not select buyer, only asked extra US$15mn

Sri Lanka's Central Bank said it did not select a buyer for the assets of troubled ETI Finance Ltd, but only made the se...

February 11, 2019 2 min read

Sri Lanka ATM users asked to use microchip cards amid fraud

Users of automatic teller machines have been asked by the central bank to only use cards with embedded microchips to avo...

February 7, 2019 3 min read
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Latest Last
US Dollar 368.6127 368.6127
UK Pound 447.0879 446.9724
Euro 378.4089 377.3186
Aus Dollar 258.8081 259.7439
Yen 2.7436 2.7454
Source: Central Bank/Indicative
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Korea Won 0.2758 0.2758
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Source: Central Bank/Indicative
pts %
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Turnover Rs million 4,506,916,091 3,748,329,990
Source: CSE
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3-m bill 26.24 26.34
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12-m bill 27.36 27.11
5-yr bond 23.86 23.10
8-yr bond 24.21 24.35
Source: Central Bank/Indicative
today yesterday
Overnight Money 15.50 15.50
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Source: Central Bank/Indicative

Credit risks high in Sri Lankan banks: S&P

ECONOMYNEXT- Sri Lankan banks have high credit risks due to slow economic growth, high credit growth and lax lending sta...

February 1, 2019 1 min read

Sri Lanka’s Fintrex Finance to focus on lending to entrepreneurs

Sri Lanka’s Fintrex Finance, owned by Bluestone Capital, a private equity and venture capital company, is priorit...

January 30, 2019 2 min read

Sri Lanka Sampath Bank says fraud happened 'few months back'

ECONOMYNEXT – Sri Lanka’s Sampath Bank has confirmed a media report about a fraud at the bank, saying it o...

January 29, 2019 1 min read

Sri Lanka’s NDB Investment Bank sees big transactions in Bangladesh, Maldives

ECONOMYNEXT – Sri Lanka’s NDB Investment Bank (NDBIB) said it handled 60 billion rupees in capital raising...

January 29, 2019 2 min read

Demand for small cars, homes to rise as Sri Lanka govt widens soft loan scheme

ECONOMYNEXT – Sri Lanka’s government has decided to widen its Enterprise Sri Lanka concessionary loan sche...

January 28, 2019 3 min read

Fitch downgrades Sri Lanka's HDFC Bank

Sri Lanka's HDFC, a majority state-run has been downgraded by Fitch, a credit rating agency to BB+ (lka) with a stable ...

January 24, 2019 4 min read

Sri Lanka banks overcharging poor farmers for credit checks

ECONOMYNEXT- Some Sri Lankan banks have been found overcharging rural farmers for Credit Information Bureau (CRIB) check...

January 11, 2019 1 min read

Sri Lanka's Bank of Ceylon launches US$200mn term loan: report

Sri Lanka's state-run Bank of Ceylon has launched a syndicated loan of up to 200 million dollars appointing a Middle Eas...

January 11, 2019 1 min read

UN wants Sri Lanka banks to contribute to agriculture credit line

The International Fund for Agricultural Development (IFAD) of the United Nations is looking for further funding from ban...

January 11, 2019 2 min read

Sri Lanka Commercial Bank offers WeChat payments in yuan

ECONOMYNEXT – Sri Lanka’s Commercial Bank has tied up with a unit of tech giant Tencent Holdings to offer ...

January 8, 2019 2 min read
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