Creating Jobs and uplifting several communities Pelwatte Dairy Industries, Sri Lanka’s leading local dairy producer, is on a renewed mission to produce sufficient forage for the cattle – all year along, despite the season, weather and climate which usually cause deflects to the produce and affect grazing patterns and milk production capabilities of the cattle….
Overview of the un-audited financial performance for the year 2020 PBT for the year – Rs. 23.5 billion Gross Loans – a milestone reached – Rs. 2.1 trillion with 28% growth Deposit base – Rs. 2.5 trillion with 23% growth Additional Tier one qualified Bond – raised Rs. 15 billion The year 2020 become an…
Land Valuation Indicator (LVI) for Colombo District increased by 4.6 per cent on year-on-year basis to 145.2 during the second half of 2020. However, the percentage level of increase of LVI was in line with the declining trend observed over the recent periods. In addition, the LVI recorded an increase of 2.5 per cent for…
Financial Performance Overview In 2020, Union Bank crossed the significant milestone of completing 25 years of service to the nation. The year tested the grit and foundations of the Bank in many ways and the Bank emerged strong amidst challenges. While operational performance was impacted amidst the slowdown of economic activity, the Bank continued to…
The Government of Sri Lanka and the Central Bank of Sri Lanka initiated various policy measures during 2020 aiming at triggering economic activities, ensuring livelihoods, and preserving the stability of the country’s financial system. These policy measures included loan moratoriums, reduction of policy rates, lowering of the Statutory Reserve Requirement for licensed commercial banks, restriction…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 increased to 3.3 per cent in February 2021 from 3.0 per cent in January 2021. This was driven by monthly increase of prices of items in both Food and Non-food categories. Meanwhile, Food inflation (Y-o-Y) increased to 7.9…
The Central Bank, with deep sorrow, wishes to announce the demise of Mr. C J P Siriwardana, former Deputy Governor of the Central Bank of Sri Lanka (CBSL). He passed away at the age of 62, on the 24th of February 2021. Mr. Siriwardana functioned as Deputy Governor of the CBSL from 2017 to 2018….
Sethsiripaya Stage III, the third phase of the Government’s administration hub in Battaramulla, is a 25-storeyed modern office building with floor area of over 1.3 million square feet—making it the largest public sector building and the largest office complex in the country. The new complex will bring ministries, public corporations, departments, and government offices that…
Reuters – Sri Lanka is committed to meeting its debt servicing obligations and is in talks with some foreign governments and multilateral institutions on its finances, the central bank governor said on Wednesday. Dwindling foreign reserves, a tumbling currency and rising debt levels have dogged Sri Lanka over the last year, leading to increasing fears…
The Committee on Public Enterprises (COPE) pointed out that Litro Gas Lanka and Litro Terminal Lanka, operating under the Sri Lanka Insurance Corporation have conducted their audits through a private company disregarding the Auditor General’s notice to have the audits conducted through them. Whilst the Attorney General had instructed the Auditor General that there was…
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