Hatton National Bank PLC (HNB) posted a profit after tax (PAT) of Rs 8.0 Bn for the nine month period ended September 2019 while the Group recorded a PAT of Rs 8.7Bn for the same period. The third quarter of 2019 saw HNB’s profits improving to Rs 3.2 Bn compared to the previous quarters while…
Pressure on banks’ financial profiles due to challenging operating conditions – as reflected in our 2019 negative banking-sector outlook for Sri Lanka – became more apparent in the banks’ 1H19 results, Fitch Ratings says in a new report. The sector’s non-performing loans (NPLs) continued to rise rapidly, up 39% in 1H19 (64% in 2018) and…
· Net interest income up by 23% YoY · Net fee and commission income up by 21% YoY · LKR 4 Bn contribution towards fiscal revenue in taxes · Sound balance sheet growth amidst an industry-wide low growth atmosphere · Total assets crossed the LKR 500 Bn mark, up by 7% · Loans and advances…
The Chartered Institute of Logistics and Transport (CILT) recently rang the Opening Bell to commence trading at the Colombo Stock Exchange (CSE) to mark the organization’s centenary year. Headquartered in the UK, CILT is the premier chartered professional body for professionals engaged in supply chain, logistics & transport, and is represented in 35 countries with…
Port City Colombo, a world-class city in the making for South Asia, signed an MOU with South Asia’s first-ever green university NSBM Green University Town (NSBM) at the Port City Colombo’s Sales Gallery on the 7th of November 2019. Graced by members of the senior management of both institutions, the MOU solidified the Port City…
Reuters – Sri Lankan shares ended firmer on Wednesday at near one-week highs, as investors picked up beverage and diversified shares ahead of Saturday’s presidential vote. ** Though wartime defence chief Gotabaya Rajapaksa, who is backed by majority Sinhala Buddhists, had early lead in the poll, the momentum had now tilted towards his rival Sajith…
According to World Travel and Tourism Council WTTC, as one of the world’s largest economic sectors, Travel & Tourism creates jobs, drives exports, and generates prosperity across the world. The sector accounted for 10.4% of global GDP and 319 million jobs, or 10% of total employment in 2018. Sri Lanka tourism sector is tipped to…
Sri Lanka’s gross official reserves grew by US $148.27 million to US $ 7,783.6 million in October 2019 from US $ 7,635.33 in September, latest Central Bank data showed. By the end of September, foreign currency reserves were 6,757 million dollars while the reserve position in the IMF was 66 million dollars. Reserves in Gold…
Sri Lanka’s Attorney General has opined that the findings of the Forensic Audit reports should be treated as having the potential to be evidence in investigations and access should be limited to those who have statutory authority to access them, a Central Bank statement said. Given the nature of findings, the Monetary Board sought the…
Country’s third international airport facilitates international flights of a privately-operated local airline for the first time in Sri Lanka Sri Lanka’s third and newest international airport, the Jaffna International Airport (JIA), has commenced international commercial flight operations from 11 November 2019. The inauguration of operations was initiated by Alliance Air, a subsidiary of Air India,…
Video Story
