Reuters – ** The Sri Lankan rupee closed steady on Friday, hovering near its all-time low hit in the previous session, as political uncertainty outweighed the positive impact of a policy rate hike, sources said. ** Stocks closed weaker due to political uncertainty and the policy rate hike. ** The parliament descended into chaos for…
Janashakthi Insurance PLC (Janashakthi) continued on its growth journey, registering a Gross Written Premium (GWP) of Rs.2.2 billion as at 30th September, 2018. The Insurer ended the period under review with post-tax profits of Rs.7.4 billion, including the gains from the sale of Janashakthi General Insurance Limited. The Company’s investment income stood at Rs.1,125 million,…
Asite Talwatte, a top professional and a veteran in the Corporate world has been appointed to the Board of National Savings Bank by the Minister of Finance and Economic Affairs. Mr.Talwatte joined Ernst & Young where he worked in Assurance, Business Risk and Advisory Services for 37 years prior to his retirement in March 2016. At…
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…
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