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Stability and Sustainability underpin Q1 Results for HNB

Strong CASA growth, improved NPA, enables resilient Q1 performance Fully geared to support economic and businesses revival efforts Urges authorities to make vaccinations available to all, especially frontline bank staff Requests public to stay calm and act responsibly and compassionately to each other HNB recorded a Profit After Tax (PAT) of Rs 4.7 Bn during…

(0)Comments | May 14, 2021 12:50 am

Japan’s SBI Group invests USD 2 Mn in Watawala Dairy Farm

Capital infusion to help WATA expand the dairy business, drive sustainable fresh milk production in Sri Lanka Sri Lanka’s leading agribusiness company Watawala Plantations PLC (CSE: WATA) announced that SBI Ven Holdings (Pte) Limited, the overseas private equity firm of SBI Holdings Inc., has invested USD 2 million in Watawala Dairy Farm through Watawala Dairy…

(0)Comments | May 14, 2021 12:16 am

Softlogic Finance to Raise over Rs. 2.2 Bn in Rights Issue

Sights set on aggressive multifaceted business expansion Softlogic Finance PLC, a subsidiary of Softlogic Capital PLC, is all set to launch a Rights Issue to raise over Rs. 2.2 billion in a bid to infuse fresh capital for business expansion with a focus on the company’s future growth. The rights issue will see Five (5)…

(0)Comments | May 13, 2021 3:00 pm

Tesla to stop accepting Bitcoin for car payments

Electric car maker Tesla will stop accepting Bitcoin as a payment ABC news – Electric car maker Tesla will stop accepting Bitcoin as a payment, CEO Elon Musk tweeted on Wednesday, citing environmental concerns. “We are concerned about rapid increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk…

(0)Comments | May 13, 2021 2:45 pm

Pied Piper of Borella, BRI and Brisbane

The Silk Road Journal by Mahika Ming The Belt and Road Initiative (BRI) launched by the Peoples Republic of China eight years ago is gaining momentum with stability and growth recorded every day (Ref. socio economic statistics of all partner countries involved) especially in a world struggling with the uncertainties of the COVID – 19…

(0)Comments | May 13, 2021 12:50 pm

Stall for “Sri Lankan Products” opened at SPAR Supermarket in Oman

Ambassador of Sri Lanka to the Sultanate of Oman Ameer Ajwad opened an exclusive stall for “Sri Lankan products” at the prominent SPAR supermarket outlet at Madinat Al Sultan Qaboos in Oman together with the CEO of SPAR Oman Sridhar Moosapet. Mrs. Ameer Ajwad, SPAR Divisional Manager for Retail & Services David Christudoss and Category…

(0)Comments | May 13, 2021 10:45 am

Nations Trust Bank continues its resilient performance whilst supporting the Nations Initiatives of building the economy and supporting livelihoods during these unprecedented times

Despite the challenging business environment, the Bank continued its planned “K shaped” recovery strategy by increasing the loan portfolio by LKR 20 billion recording an increase of 10% during the quarter. Nations Trust Bank continued to provide working capital loans under the “Saubhagya” scheme introduced by the government to assist customers across all segments. Understanding…

(0)Comments | May 13, 2021 10:35 am

ComBank makes strong start to 2021 with robust growth in fund-based operations

Q1 net interest income up 21.08% with interest expenses down 17.14% CASA ratio improves further to 45.26%, among best in industry Operating income up 21.73% to Rs 24.161 billion Impairment charges raised by 7.56% to Rs 7.156 billion Provision cover improves to 60.98%; net NPL ratio to 1.93% The Commercial Bank Group led by Sri…

(0)Comments | May 12, 2021 4:35 pm

Nestlé and Dialog Enterprise launch Sri Lanka’s first automated food cold storage temperature monitoring solution

Delivers hi-tech advancements in storage quality assurance Nestlé Lanka has launched an innovative solution for managing and monitoring its cold storage temperature, developed by premier business solutions provider, Dialog Enterprise. The solution is the first of its kind in the local food industry. It will automize the maintenance of optimal conditions for Nestlé’s cold storage…

(0)Comments | May 12, 2021 4:22 pm

Standard Chartered serves as exclusive financial advisor to MAS Holdings in divestment of attune Consulting to Rizing

Standard Chartered Sri Lanka recently supported MAS Holdings to achieve one of its long-term strategic initiatives by identifying a suitable partner for its subsidiary, attune Lanka (Private) Limited. After a thorough evaluation conducted by the Bank’s Mergers & Acquisitions (M&A) team to identify a potential investor, MAS Holdings concluded the transaction with Rizing, a privately…

(0)Comments | May 12, 2021 3:20 pm