Category: Banking and Finance
” Rating; Outlook Stable
Fitch Ratings has assigned Sri Lanka-based Senfin Asset Management (Private) Limited a first-time National Long-Term Rating of ‘BBB-(lka)’ with a Stable Outlook. Senfin is a 100%-owned subsidiary of a mid-sized finance and leasing company, Senkadagala Finance PLC (SFCL, BBB(lka)/Stable). The company manages unit trusts and provides discretionary portfolio services for institutional and high-net-worth investors. It […]
ComBank Digital soars past 1.5 million registered users in a landmark moment
The Commercial Bank of Ceylon has achieved another milestone in its digital revolution, with ‘ComBank Digital’ – the Bank’s omni-channel digital banking platform – surpassing 1.5 million registered users. Announcing the landmark, the Bank said the award-winning platform continues to lead digital transformation in Sri Lanka’s banking sector as the most widely used digital channel […]
Reducing Sovereign Stresses Will Support Sri Lankan Banks’ Credit Profiles: Fitch Ratings
Sri Lankan banks’ operating environment (OE) assessment and overall credit profiles will be supported by any improvement in the sovereign’s credit profile (Long-Term Foreign-Currency IDR: RD, Long-Term Local-Currency IDR: CCC-) following a completed debt restructuring, says Fitch Ratings. This is due to the strong link between sovereign financial health and banks’ operating conditions. We believe […]
Sri Lanka Banks’ Association reiterates support to new government
The Sri Lanka Banks’ Association (SLBA) has congratulated President Anura Kumara Dissanayake on his party’s resounding victory at the Parliamentary election and pledged its support to the new government in the challenging journey ahead. The Association, which represents all licenced banks in Sri Lanka, also noted that its recent interactions with the Presidential Secretariat has […]
Hayleys records 78-pct growth in PBT to Rs.12.7Bn
The Hayleys Group delivered remarkable growth and profitability during the first half of the financial year ending 31 st March 2025, as it leveraged its leading market positions across diverse business verticals to deliver a Profit Before Tax of Rs.12.73 bn, an increase of 78% over the corresponding period of the previous year. Meanwhile, the […]
ComBank accelerates lending in Q3 as strong fundamentals spur growth
Loan book up by Rs 121.06 bn. in 9 months, with 44.20% of growth coming in Q3 CASA ratio improves to 39.60% at 30th Sept. 2024 Net interest income up 46.15% to Rs 88.98 bn. Total taxes for 9 months double to Rs 27.67 bn. The Commercial Bank of Ceylon Group has achieved impressive […]
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Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB; A(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured listed green bonds of up to LKR5 billion a final National Long-Term Rating of ‘A(lka)’. The final rating is the same as the expected rating assigned on 25 September 2024 and follows the receipt of documents conforming to […]
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Fitch Ratings has assigned Sampath Bank PLC’s (A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’. The proposed debentures, which will mature in five years, will be listed on the Colombo Stock Exchange. The bank plans to use the proceeds to strengthen its […]
Opinion: CB defends liquidity injections amid “Money Printing” controversy
by Dhananath Fernando A fresh controversy has erupted following reports that Sri Lanka’s Central Bank (CBSL) injected nearly 100 billion rupees into the banking system by October 25. Given that money printing was the major cause of the country’s financial crisis, this news has sparked considerable attention. CBSL has defended its actions, arguing that these […]
Assetline Finance join hands with BlueOrchard in empowering women entrepreneurs
In a groundbreaking development, Assetline Finance Limited, the flagship company in the financial services cluster of the David Pieris Holdings (Private Limited), one of Sri Lanka’s top conglomerates has secured a senior loan from the Japan ASEAN Women Empowerment Fund (JAWEF) managed by BlueOrchard Finance Ltd, a leading global impact investment manager. This loan marks […]
Sampath Bank strengthens global ties with USD 750Mn investment in SBI syndicated loan
Sampath Bank PLC proudly announces its participation in a significant financial milestone, contributing to the $750 million senior unsecured syndicated term loan facility for the State Bank of India (SBI), facilitated by Mashreq, one of the leading financial institutions in the MENA region. This collaboration highlights Sampath Bank’s commitment to supporting strategic international financing initiatives. […]
Union Bank Partners with Micro Cars Limited to provide customers with convenient leasing facilities
Union Bank recently signed a MOU with Micro Cars Limited to provide customers with convenient leasing facilities, coupled with added benefits. The MOU was signed in the presence of Chaya Jayawardane, Senior Vice President of Retail Banking, Kasun Balasooriya, Head of Leasing, and Dilukshan Jayakody, Branch Manager Borella along with other representatives from Union Bank, […]