SriLankan Airlines would like to clarify that the delays experienced by its passengers at the check-in counters in Bandaranaike International Airport during the early hours of this morning, were caused by temporary, unplanned operational conditions at the airport and not due to any type of trade union action. The check-in counter operations have been stabilized…
The United States Deputy Secretary of State for Management and Resources Richard Verma, who called on President Ranil Wickremesinghe expressed appreciation for the efforts taken by the Sri Lankan Government to turn the economy around. During the discussions, the President outlined the progress of the debt restructuring, along with several key economic reforms measures, including…
Land Valuation Indicator (LVI) for Colombo District indicated a slowdown on a year-on-year basis, recording a growth rate of 7.1 per cent during the second half of 2023. This slowdown could be observed in all sub-indicators of LVI, namely Residential, Commercial and Industrial LVIs which recorded annual increases of 8.8 per cent, 6.7 per cent…
At a time when international aid and medicinal supplies are imperative for Sri Lanka, upon an urgent request for assistance from Ambassador of Sri Lanka in Washington D.C. Mahinda Samarasinghe and the Mission, the support of three renowned U.S. NGOs was generously extended on an in-kind basis to the people of Sri Lanka. The most recent…
The Committee on Public Finance, which previously considered the Value Added Tax (Amendment) Bill that removed all VAT exemptions back in November 2023, inquired as to why the Ministry of Finance hasn’t adopted the recommendations made by the Committee regarding the VAT Amendment Bill. Accordingly, the Committee had recommended to the Ministry of Finance to…
Accelerated lending sees loan book grow by Rs 56.8 billion in 3 months Deposits surge by Rs 109.4 billion in final quarter 12-month gross income up 21.82% to Rs 341.6 billion The Commercial Bank of Ceylon Group lent Rs 56.816 billion in the fourth quarter of 2023 at a monthly average of Rs 18.939 billion…
Acquisition expands Virtusa’s offerings with solutions-based approach for customers Virtusa Corporation, a global provider of digital strategy, digital engineering, and information technology (IT) services, announced an expansion to its business solutions portfolio through the acquisition of BRIGHT, one of the largest elite partners to ServiceNow & Splunk in EMEA. This acquisition will enable Virtusa to deliver business solutions…
Bank’s Financial Performance Financial Highlights Profit before Income Tax – LKR 10.080 Bn Profit after Income Tax – LKR 6.256 Bn up by 33%. Total Assets reached to LKR 718 Bn with a YoY growth of 7% Overall Statutory Liquid Assets Ratio (SLAR) of 38% as at 31 December 2023 Total Capital Adequacy Ratio of…
The Securities and Exchange Commission of Sri Lanka (SEC) in collaboration with the Colombo Stock Exchange (CSE) conducted the first Investor Forum for the year 2024 on the 17th of February at the Hotel Oviya – Vavuniya. The forum was organized with the objective of raising awareness on the importance of investor education and investor…
Group Total operating income up by 29% to LKR 41Bn Group tax expense for the year was LKR 7Bn Impairment charge of LKR 14Bn reflective of present economic stresses Group Profit After Tax LKR 8.65Bn In a demanding banking landscape, DFCC Bank demonstrated resilience amidst significant local economic disruptions. Proactive policy adjustments facilitated a…
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