LAUGFS Lubricants, a fully owned subsidiary of LAUGFS Holdings and Sri Lanka’s home-grown leading lubrication solution provider, recently ventured into international, expanding its presence to markets in Bangladesh. First introduced in the Sri Lankan market in 2008, LAUGFS Lubricants has grown exponentially offering lubricant solutions for every class of motor vehicles and industrial applications. As…
First Capital Holdings PLC (the Group) recorded a Profit after Tax of Rs. 823Mn for the six months ended 30th September 2022 compared to Loss after Tax of Rs. 303Mn in the corresponding period of the previous year. The Primary Dealer division reported a Profit after Tax of Rs. 1.1Bn for the six months ended…
President Ranil Wickremesinghe instructed the relevant officials to implement the Singapore – Sri Lanka Free Trade Agreement (FTA) immediately. The President issued these instructions during the discussion held at the Presidential Secretariat this morning (16) on the implementation of the Singapore – Sri Lanka Free Trade Agreement. The existing problems in this regard were discussed…
Azerbaijan is considered as an emerging market in the CIS region. Due to the ongoing war between Russia and Ukraine it is important to expand the promotional activities in other potential CIS countries in the region. Therefore, Sri Lanka Tourism Promotion Bureau has made arrangements to organize series of Trade familiarization tours ( FAM Tour)…
Hon. Mahinda Yapa Abeywardana, Speaker of Parliament announced to the House today (16) that the following Members have been nominated with Hon. Madhura Withanage, Attorney at Law as the Chair to serve on the Select Committee of Parliament to study the practical problems and difficulties that have arisen in relation to enhancing the rank in…
National Development Bank PLC (NDB/ the Bank) released its financial statements for the nine months ended 30 September 2022 to the Colombo Stock Exchange on 14 November 2022. Financial performance continued to be challenged by the prevailing macro-economic conditions, adversely impacting profitability for a continued third quarter, as seen across the entire banking industry. Commenting…
Despite unprecedented challenges and a volatile economic environment, DFCC Bank continued its commitment to serving customers across the country, delivering high-quality customer centric banking services. Accordingly, the Bank has recorded a resilient performance for the 3rd Quarter of 2022, ended 30th September 2022, remaining steady against a volatile business environment, further compounded by external challenges…
Net Interest Income – 7,434 million, up by 11% Net Fee and Commission Income – 1,332 million, up by 6% Net Gains from Trading- 242 million, up by 264% Total Assets passes Rs. 200 billion mark, up by 8% Customer deposit-base reach 158 billion, up by 8% The Bank maintains a healthy Net Interest Margin…
Financial commentary for nine months ended 30 September 2022 Profit Before Tax: Rs.27.5 billion Net Interest income of Rs. 107.9 billion with 32% growth Total Assets base of Rs. 4.4 trillion Total Deposit base of Rs.3.3 trillion Gross loans and advances reached to Rs. 2.6 trillion The Bank has reported Rs. 27.5 billion Profit Before…
The upcoming Sri Lanka Economic Summit 2022, the foremost and most anticipated annual economic event in Sri Lanka, will be inaugurated by the Chief Guest, President Ranil Wickremesinghe, under the theme Resetting from Turmoil to Opportunity on 5th December at the Shangri-La Hotel, Colombo. This year the Summit will focus on key levers that will…
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