Category: Banking and Finance

Nov 16, 2009 (LBO) – Sri Lanka’s NDB Bank said net profits for the September 2009 quarter was up 75-pct to 615 million rupees from a year earlier, while revenues grew 14.4 percent to 3.62 billion rupees. Interest income grew 5.3 percent to 2.89 billion rupees, interest expese fell 0.3 percent to 1.80 billion allowing […]

Nov 16, 2009 (LBO) – Sri Lanka’s state-run Bank of Ceylon group’s profit fell 63.3 percent to 256.7 million rupees in the September 2009 quarter from a year earliers, while revenues rose 2.7 percent to 15.86 billion rupees. Interest income grew 4.0 percent to 13.46 billion rupee, interest expenses grew at a faster 10.8 percent […]

Nov 13, 2009 (LBO) – Sri Lanka’s Commercial Bank’s profits grew 3.5 percent to 971 million rupees in the September quarter from a year earlier with lower provisioning, while total revenues fell 6.1 percent to 10.5 billion rupees. The bank’s interest income fell 6.1 percent to 8.87 billion rupees, interest expenses fell at a slower […]

Nov 13, 2009 (LBO) – Sri Lanka Nation’s Trust Bank, a unit of John Keells Holdings said net profits grew 28 percent to 173.9 million rupees in the September 2009 quarter from a year earlier, while revenues fell 3.0 percent to 3.5 billion rupees. Interest income fell 4.0 percent to 2.97 billion rupees, interest expenses […]

Nov 10, 2009 (LBO) – Sri Lanka’s Hatton National Bank (HNB) said September quarter group profit rose 17 percent to 945 million rupees with interest margins improving slightly although asset quality deteriorated.HNB’s group gross income for the quarter grew by six percent to 10.3 billion rupees, with deposits increasing while lending fell, according to a […]

Nov 10, 2009 (LBO) – Sri Lanka’s Pan Asia Banking Corporation (PABC) said September quarter profits rose 49 percent to 69 million rupees on income from trading government securities, despite higher bad loans and a shrinking loan book. Group interest income rose 9.0 percent to 788 million rupees, while interest expenses were flat at 450 […]

Nov 05, 2009 (LBO) – Sri Lanka’s Sampath Bank group’s net profit for the September 2009 quarter rose 35.8 percent from a year earlier, as margins improved with higher lending to government. Gross assets grew to 153.7 billion rupees (up 8.0 percent) and net assets to 10.9 billion rupees p 10.2 percent. Revenues rose 10.5 […]

Nov 04, 2009 (LBO) – Sri Lanka’s DFCC Bank has reported group net profits up 73 percent to 823 million rupees for the September 2009 quarter, from a year earlier as higher incomes from government securities boosted margins.Total group revenues rose 9.5 percent to 3.6 billion rupees, interim accounts filed with the Colombo Stock Exchange […]

Oct 31, 2009 (LBO) – Sri Lanka finance ministry would issue a circular directing state banks to cut lending rates and there was a possibility of private banks being also directed to cut lending rates through the island’s monetary authority, a government minister said.Sri Lanka’s powerful president Mahinda Rajapaksa ordered state bank to cut lending […]

Oct 29, 2009 (LBO) – State banks were scrambling to give effect to an order to cut lending rates, but their balance sheets of state banks are likely to be hurt despite depositors taking some of the cost, officials said. Peoples’ Bank has a high proportion of pawning or gold backed loans. Savings depositors in […]

Oct 29, 2009 (LBO) – Sri Lanka’s state-run People’s Bank said it was cutting lending rates for a range of sectors following a presidential directive to give loans at rates between 8.0 to 12.0 percent. The bank said in a statement Wednesday that it will cut lending rates with “immediate effect” following President Mahinda Rajapaksa’s […]

Oct 28, 2009 (LBO) – HSBC, an international bank, which said it had helped raise two billion dollars for Sri Lankan infrastructure has been named the best international debt house in Asia in awards given by Euromoney, a financial magazine.The bank said so far this year date, the HSBC Group has done 22 deals in […]