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Janashakthi Life Records Strong Double Digit Growth in Q1 2019

Life Insurer looks to continue promising progress against plans laid in 2018   Colombo, May 15, 2019: Leading Sri Lankan Life Insurer, Janashakthi Insurance PLC delivered significant double digit growth in Gross Written Premiums (GWP) during the period under review, registering 23.8% year-on-year growth, from Rs.764.59 million in Q1 2018 to Rs.946.61 million in Q1…

(0)Comments | May 16, 2019 9:47 am

Sri Lanka stocks fall for 10th day on sectarian violence concerns

Reuters – Sri Lankan shares fell for the tenth straight session on Wednesday and closed at their lowest in nearly seven years, as sectarian violence dented investor sentiment, while the rupee edged higher after four straight sessions of losses. ** Sri Lankan police arrested more than 74 people in connection with a spate of attacks…

(0)Comments | May 16, 2019 6:29 am

SLT records highest ever quarterly profits

During the 1st Quarter of 2019, the Group reported a Net Profit of Rs.2.20 bn which is the highest ever during the first quarter of any year, with a remarkable 86.8% YoY growth compared to the same quarter in 2018. The outstanding results were largely driven by healthy revenue growth coupled with cost control initiatives….

(0)Comments | May 16, 2019 6:17 am

Haycarb records turnover of Rs. 20.9 billion and profit before tax of Rs. 1.35 billion for 2018/19

The Sri Lankan multinational Haycarb PLC reported revenue of Rs. 20.9 billion, profit before tax of Rs. 1.35 billion and profit after tax of Rs. 1.08 billion for financial year 2018/19. The earnings per share of equity holders of the company increased to Rs. 32.16 for the year. The Chairman of Haycarb PLC and its parent company…

(0)Comments | May 16, 2019 5:35 am

DFCC maintains profitability under volatile market conditions

  DFCC’s Total Assets grew by LKR 15,652 million to LKR 390,560 million DFCC recorded Tier 1 and total capital adequacy ratios of 10.34% and 15.45% respectively DFCC’s Core Business recorded a PAT increase of 9%.   Profitability Core business of DFCC Bank posted a profit before tax of LKR 1,585 million and profit after…

(0)Comments | May 15, 2019 11:13 pm

HNB Group records a PBT of Rs 3.4 Bn in 1Q 2019

Core Banking generates Rs 13 Bn in NII as compared with Rs 10.6 Bn last year, Effective tax rate increases to 58.6% as compared with 43.6% last year Amidst challenging market conditions, Hatton National Bank posted a profit before tax of Rs 3.3 Bn and a profit after tax of Rs 2 Bn for the…

(0)Comments | May 15, 2019 11:05 pm

Sampath Bank’s Net Interest Income up by 23% in Q1 2019 Despite Challenging Economic Conditions

Sampath Bank has reported a net interest income of Rs 10.2 Bn for Q1 2019 reflecting noteworthy growth of 23.2% over the figure reported in Q1 2018, a significant achievement especially given the challenging economic conditions that prevailed throughout the period.   The Bank recorded Profit after tax of Rs 2.2 Bn, a negative growth…

(0)Comments | May 15, 2019 2:46 pm

Amana Bank completes a successful Q1

~ Financing Income up by 21% Amãna Bank recorded a successful first quarter as it posted a Profit Before Tax of LKR 180.8 million and a Profit After Tax of LKR 126.6 million, despite challenging conditions that prevailed in the market. The Bank continued its growth momentum in core banking operations during the quarter, leveraging…

(0)Comments | May 15, 2019 2:25 pm

Kishu steps down from SLTDA to focus on tourism brand promotion

A well-known leading corporate personality in Sri Lanka Kishu Gomes has stepped down from his position as the chairman of the Sri Lanka Tourism Development Authority (SLTDA). Kishu who headed both, the Sri Lanka Tourism Promotion Bureau (SLTPB) and the Sri Lanka Tourism Development Authority (SLTDA) since February this year , has decided to resign from his position…

(0)Comments | May 15, 2019 2:09 pm

Regulatory actions against TFC extended

The Monetary Board of the Central Bank of Sri Lanka (CBSL) initiated a number of regulatory actions, as temporary measures, under the provisions of FBA, on The Finance Company PLC (TFC) with effect from 15th February 2019, with a view to safeguard the interests of the depositors and other stakeholders of the company. Regulatory measures…

(0)Comments | May 15, 2019 11:37 am