The Colombo Stock Exchange (CSE) closed trading for the day recording a daily turnover of Rs 3.68 billion. The main contributor to this turnover was Commercial Bank, where a total of Rs.2.93 billion worth shares were traded. The All Share Price Index (ASPI) moved up by 26.9 points or 0.60% to close at 4,393.54 whilst the…
Former Pan Asia Banking Corporation (PABC) Chairman and head of Esna Group of Companies Eshana De Silva has been appointed as the new chairman of National Development Bank PLC (NDB). Having built his career in the business world, Mr. de Silva currently serves in the capacity of Chairman of many Companies including the Esna Group…
The Public Utilities Commission of Sri Lanka (PUCSL), Ceylon Electricity Board (CEB) and Lanka Electricity Company Private Limited (LECO) have taken steps to ensure fairness for electricity consumers in issuing monthly electricity bills and allowing a grace period to pay the monthly bills. The guidelines prepared by the PUCSL set forth in this regard will…
Impairment charges for Q1 surge to Rs 6.54 bn. Deposits grew by Rs 51.33 bn. to Rs 1.10 Tn. Advances grew by Rs. 28.74 bn. to Rs. 949.2 bn. Healthy growth in business volumes and an extraordinary contribution from other income, before the slowdown attributed to the COVID-19 pandemic, have enabled the Commercial Bank of…
Singer Finance (Lanka) PLC received a strong vote of confidence from investors with its recent Listed, Rated, Unsecured, Senior, Redeemable three year and five year, Rs. 1 billion debenture issue being oversubscribed. The subscription closed on Wednesday the 13th of May 2020. This Debenture issue is rated BBB (lka) by Fitch Ratings Lanka Limited.). Singer…
Central Bank Implements Extraordinary Regulatory Measures to Provide Liquidity to Banks amidst COVID-19 Outbreak The Monetary Board of the Central Bank of Sri Lanka (CBSL), in the wake of the possible adverse impact on liquidity and other key performance indicators of licensed commercial banks and licensed specialised banks (licensed banks) due to the implementation of…
COSMI praises SMEs, micros for unprecedented COVID-19 deliveries amid risks ‘Essential services saved lives from COVID-19, SMEs saved lives from shortages, hunger’ –Rajabdeen Thanks officials and Police for support to SMEs; wants sanitisation support During continued lockdowns of Sri Lanka, the SME and micro sectors have clearly proven their critical role in not only sustaining…
Q1 20 Revenue and EBITDA Stable YoY; PAT Impacted by Non-Cash Translational Forex Losses Direct and Indirect Taxes, Fees and Levies to GoSL – Rs4.5Bn Capex Investments managed at Rs2.0Bn during the Quarter with Prioritisations. Accordingly, OFCF Improved to Rs9Bn for Q1 2020 Support Extended in Dealing with Covid-19 to Our Customers, Government and…
The Colombo bourse experienced a rebound today (13) after steep falls over two days, one that reflects a belief among investors that the economy will enjoy a recovery from the COVID-19 crisis. The ASPI closed 119.30 points or 2.81% up at 4,367.25 and the S&P SL20 index of most liquid stocks went up 2.59% or…
People’s Bank has launched the Aswenna loan scheme, a unique product that is in line with the Government’s development programme to create a self-sufficient nation. The first Aswenna loans were ceremoniously handed over to the loan recipients by People’s Bank Chairman Sujeewa Rajapakse and Acting Chief Executive Officer / General Manager M.A. Boniface Silva at…
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