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Sunday December 10th, 2023

Sri Lanka's Bank of Ceylon net down, strong loan growth in Dec

Profits at Sri Lanka's state-run Bank of Ceylon group fell 34 percent to 6.3 billion rupees in the December 2020 quarter...

March 28, 2021 2 min read

Sri Lanka halts banks from buying sovereign bonds till April 09

Sri Lanka has extended a ban on domestic bank purchases of international sovereign bonds till April 09, 2021, in a bid t...

March 21, 2021 2 min read

Sri Lanka failed finance company depositors to Rs9.8bn extra after insurance increased

Depositors of failed Sri Lanka finance companies will get 9.8 billion rupee more with the ceiling on deposits qualified ...

March 19, 2021 2 min read

Sri Lanka Savings Bank '[SL] BBB-' rating confirmed by ICRA

ECONOMYNEXT - State-run Sri Lanka' Savings Bank's '[SL] BBB-' domestic rating has been confirmed by ICRA Lanka, a rating...

March 17, 2021 6 min read
Sri Lanka's Bank of Ceylon downgraded to RD

We believe the foreign-currency funding and liquidity profile is highly stretched

HSBC Group MD visits Sri Lanka to offer support

Rosha had met with key clients of the bank and discussed their challenges

Sri Lanka's private and state credit surge in June

Credit to Sri Lanka's private borrowers had surged in June, after contracting the for two months in a row, official data...

August 13, 2019 2 min read

Sri Lanka's Pan Asia Bank profits down 5-pct in June

Profits at Sri Lanka's Pan Asia Bank fell 5 percent to 481 million rupees in the June 2019 quarter from a year earlier, ...

August 11, 2019 2 min read

Sri Lanka's Sampath Bank net down 39-pct as bad loans bite

Profits at Sri Lanka's Sampath Bank Plc fell 39 percent to 2.06 billion rupees in the June 2019 quarter from a year earl...

August 9, 2019 2 min read

Ideal Finance deposit taking restricted by Sri Lanka regulator

The central bank has limited deposit taking at Ideal Finance after the firm failed to meet a 1.5 billion rupee capital r...

August 7, 2019 4 min read

Sri Lanka's HDFC gets Rs250m capital injection from tax-payers

Sri Lanka's HDFC Bank, a publicly traded mortgage lender with the state as main shareholder said it has received a 250 m...

August 4, 2019 1 min read

Sri Lanka's People's Leasing profit down 38-pct on bad loans

Profits at Sri Lanka's Peoples Leasing and Finance Plc fell 38 percent to 713 million rupees in the June 2019 quarter fr...

August 1, 2019 1 min read

Sri Lanka DFCC Bank profits down 20-pct in June quarter

Profits at Sri Lanka's DFCC Bank group fell 20 percent to 271 million rupees in the June 2019 quarter from a year earlie...

July 31, 2019 1 min read

Sri Lanka's Seylan Bank profits down 11-pct in June quarter

Profits at Sri Lanka's Seylan Bank Plc group fell 11.3 percent from a year earlier to 547 million rupees in the June 201...

July 31, 2019 1 min read

NDBIB named best investment bank in Sri Lanka

NDBIB has been named the best investment bank in Sri Lanka by Euromoney, a financial magazine for the eight time, the fi...

July 24, 2019 1 min read

Union Bank of Colombo June net up on tax reversal, net interest income

Profits at Sri Lanka's Union Bank of Colombo (UBC) group grew 53 percent to 205 million rupees helped by a tax provision...

July 24, 2019 2 min read
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today yesterday
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Sri Lanka central bank says to take further measures to cut lending rates

ECONOMYNEXT – Sri Lanka’s central bank said it will take further appropriate measures to ensure lending ra...

July 18, 2019 2 min read

Sri Lank PM forecasts lending rates at 10-pct by end July

Sri Lanka's Prime Minister Ranil Wickremesinghe has said that lending rates will fall to 10 percent by end July 2019, an...

July 15, 2019 1 min read

Sri Lanka private credit negative in May, CB credit sharply down

Sri Lanka's credit to private borrowers contracted 2.5 billion rupees in May to 5,541.8 billion rupees, after a 43.4 bil...

July 14, 2019 2 min read

Bimputh Finance hit by micro-finance price controls, downgraded to 'BB-(lka): Fitch

Fitch Ratings Lanka said it had downgraded the rating of Bimputh Finance Plc, a non-micro-lender, to 'BB-(lka)' from 'BB...

July 13, 2019 4 min read

Central bank wants lending rates in Sri Lanka to fall 200bp

Sri Lanka's banks should lower the average lending rate by 200 basis points to avoid ceilings on lending rates Central B...

July 12, 2019 3 min read

Central bank cuts Sri Lanka 3-month deposit rate 1.7-pct under new price controls

Sri Lanka's central bank on Friday ordered a cut of 1.71 percent on 3-month deposits under its controversial price contr...

June 28, 2019 3 min read

Small, mid-sized Sri Lankan banks under pressure with thin capital, high risk: Fitch

ECONOMYNEXT- Sri Lanka's small and mid-sized banks (SMBs) are facing higher pressure due to thin capital buffers and hig...

June 28, 2019 3 min read

Sri Lanka bank bad loans rise 64-pct in 1Q 2019: Fitch

Bad loans at Sri Lanka's banks had risen 64 percent in the first quarter of 2019, the worst since 2013 when gold-backed ...

June 27, 2019 2 min read

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