Reuters – ** The Sri Lankan rupee fell to an all-time low on Thursday, continuing its record-setting spree, as political uncertainty outweighed the positive impact of a policy rate hike, sources said. ** Stocks closed firmer for a fourth session in five, but turnover was dull due to political uncertainty and the policy rate hike….
~ Cost to Income improves by 360 bps ~ Group pays Rs 11.8 Bn in Taxes Hatton National Bank PLC (HNB) reported a Profit After Tax (PAT) of Rs 14.5 Bn at Group level for the nine months to September 2018 recording a growth of 23% YoY, while the Bank’s PAT for the period amounted…
The attention of the Central Bank of Sri Lanka (CBSL) has been drawn to recent grievances received from the general public regarding financial scams spreading through phishing emails/ social media messages. CBSL has noticed that the image of the Head Office building, the Logo of CBSL, names of senior officials of CBSL, are being used…
Fueled by topline growth across all of its key business segments, leading diversified conglomerate Hayleys PLC posted a 65% Year-on-Year (YoY) increase in turnover up to Rs. 103 billion for the six months period ending 30 September 2018. The Group posted strong operating profits which expanded to Rs.6.8billion from Rs 3.2 billion in the corresponding…
The Monetary Board of the Central Bank, at its meeting held on 13 November 2018, decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of commercial banks by 1.50 percentage points to 6.00 per cent. In order to neutralise the impact of this reduction and maintain its neutral monetary policy stance, the Monetary…
Reuters – The Sri Lankan rupee fell to a record low on Tuesday, as political uncertainty triggered by President Maithripala Sirisena’s decision to sack parliament weighed on sentiment, market participants said. The currency hit 176.05 versus the dollar, surpassing its previous all-time low of 175.90 hit on Monday. Sirisena dissolved parliament on Friday night and…
• Taxes rise by 30.62% to Rs 10.506 billion increasing the effective rate to 43.29% • Gross income for the 9 months surpasses Rs 100 billion for the first time • Impairment charges more than quadruple to Rs 6.864 billion • Operating income up by 34.37% to Rs 48.32 billion • Deposits reach Rs 943.615…
In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Department of Motor Traffic (DMT) on November 01, 2018 at the Central Bank of Sri Lanka to receive intelligence information related to…
Sampath Bank achieved Rs.14.2 billion in Profit Before Tax (PBT) within the first 3 quarters of 2018, 20.3% higher than the PBT of Rs.11.8 billion recorded in the corresponding period in the previous year. This is a significant achievement particularly given the challenging macroeconomic conditions that were seen throughout this period. Profit After Tax (PAT)…
Reuters – Foreign investors sold Asian equities heavily in October on concerns over slowing earnings, higher U.S. interest rates and trade tensions between the United States and China. Data from regional stock exchanges showed foreigners sold a net total of $14.54 billion in Taiwan, South Korea, India, Thailand, Philippines, Indonesia, and Vietnam equities in the…
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