Category: Banking and Finance
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Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB; AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated green bonds of up to LKR15 billion a final National Long-Term Rating of ‘A(lka)’. The final rating is the same as the expected rating assigned on 7 April 2025 and follows the receipt of documents conforming to […]
Pan Asia Bank felicitated for exemplary professionalism by the Central Bank of Bangladesh
In a ceremony at Bangladesh Bank headquarters in Motijheel recently, officials from Sri Lanka’s Pan Asia Banking Corporation (PABC) received high praise for thwarting a major cyber fraud aimed at siphoning US $20 million from Bangladesh Bank’s account at the Federal Reserve Bank of New York. Bangladesh Bank Governor Dr Ahsan H. Mansur led the honour, […]
Central Bank Imposes New Loan-to-Value Caps on Motor Vehicle Financing
The Central Bank of Sri Lanka (CBSL) yesterday announced new Directions, effective July 18, 2025, imposing maximum loan-to-value (LTV) ratios on credit facilities granted for the purchase or utilization of motor vehicles. These measures, outlined in “Central Bank of Sri Lanka Act Directions No. 02 of 2025,” aim to enhance macroprudential policymaking, mitigate systemic risks, […]
Softlogic Life completes 100% acquisition of Allianz Life Insurance Lanka Ltd
Softlogic Life Insurance PLC has successfully completed the acquisition of 100% of the shares of Allianz Life Insurance Lanka Limited (Life Business), following the receipt of regulatory approval from the Insurance Regulatory Commission of Sri Lanka (IRCSL). The transaction marks a significant milestone, following the initial announcement on 26th March 2025. Softlogic Life recorded Gross […]
ComBank launches Sri Lanka’s first AI-powered SME Credit Underwriting Solution
The Commercial Bank of Ceylon has announced the launch of Sri Lanka’s first Artificial Intelligence-powered SME Credit Underwriting Solution, taking a transformative step in reshaping how small and medium enterprises (SMEs) access credit and financial solutions. This custom-built AI platform, another breakthrough initiative by the country’s largest private sector bank, was fully developed as a […]
CBSL Initiates Resolution Action on Nation Lanka Finance PLC
The Central Bank of Sri Lanka (CBSL) announced today its decision to initiate resolution action on Nation Lanka Finance PLC (NLFP), a Licensed Finance Company, effective immediately. This decisive step has been taken due to NLFP’s persistent violations of the Finance Business Act, No. 42 of 2011 (FBA), and various related Directions and Rules, coupled […]
Banks Not Planning Widespread Parate Proceedings, Assures Sri Lanka Banks’ Association
The Sri Lanka Banks’ Association (SLBA), the collective voice of all licensed commercial banks in the country, today moved to quell alarmist claims regarding widespread parate proceedings now that the grace period for loan repayments has concluded. The SLBA firmly stated that banks have no intention of launching a flood of parate actions, emphasizing that […]
ComBank and MD/CEO Sanath Manatunge clinch top honours as ‘Sri Lanka’s Best’ from The Asian Banker
The Commercial Bank of Ceylon and its Managing Director/CEO Mr Sanath Manatunge have been named the ‘Best Managed Bank’ and the ‘Best Bank CEO’ in Sri Lanka respectively by The Asian Banker (TAB) magazine, bestowing on them two prestigious accolades that are presented once in every three years. These awards, in respect of the 2022-2024 […]
Sri Lanka’s Land Market Shows Strong Momentum Amid Growing Demand, Reports LankaPropertyWeb
The Sri Lankan land market is gaining renewed strength, with Colombo and the broader Western Province leading the way in price growth, according to the latest Land Price Index (LPI) published by LankaPropertyWeb (LPW). The 2025 index reveals that land prices in Colombo city (Colombo 1-15) have risen by 7% year-on-year, while the overall Western […]
ComBank ends Q1 as first private sector banking group on cusp of Rs 3 Tn. assets milestone
Loan book grows by Rs 116.75 Bn. in 3 months to Rs 1.642 Tn. Net interest income up 23.53% to Rs 34.21 Bn. Improves provision cover and interest margin alongside balance sheet growth Reports 3-month PBT of Rs 22.56 Bn. and PAT of Rs 14.97 Bn., with taxes amounting to Rs. 11.61 Bn. The […]
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Fitch Ratings has assigned Seylan Bank PLC’s (A+(lka)/Stable) proposed Sri Lankan rupee-denominated, Basel III-compliant subordinated debentures of up to LKR15 billion an expected National Long-Term Rating of ‘A-(EXP)(lka)’. The proposed debentures, which will have maturities of five, seven and 10 years, will be listed on the Colombo Stock Exchange. The bank plans to use the […]
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Fitch Ratings has assigned Bank of Ceylon’s (BOC, CCC+/CCC+/AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR15 billion a final National Long-Term Rating of ‘A(lka)’. The final rating is the same as the expected rating assigned on 2 April 2025, as it follows the receipt of documents conforming to information already […]