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Sunday January 29th, 2023
Banking

India's Axis Bank exits Sri Lanka

India's Axis Bank has been given the approval to close its operations in Sri Lanka's capital Colombo and exit the countr...

October 30, 2020 1 min read

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

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

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
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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
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Source: Central Bank/Indicative
pts %
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Turnover Rs million 4,621,153,484 2,824,714,520
Source: CSE
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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 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

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
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