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…
SL Purchasing Managers’ Index (PMI) – October 2022 Manufacturing PMI declined in October 2022, indicating a contraction in manufacturing activities on a month-on-month basis. Accordingly, Manufacturing PMI recorded an index value of 38.4 in October 2022, with a decline of 4.2 index points from the previous month, driven by decreases recorded in all the sub-indices.
Despite numerous macroeconomic challenges, the E. B. Creasy Group, once again, was resilient and posted a record performance in the first half of the current financial year, driven by outstanding results in its core segments of Homecare, Personal and Healthcare, and in industrial sales to the Foods sector. Group profitability, however, came under considerable pressure…
Reuters – Leaders of the Group of 20 major economies will express concern about the “deteriorating debt situation” facing some vulnerable middle-income countries, and call on all official and private creditors to respond swiftly to requests for debt treatment. A draft of the G20 leaders declaration seen by Reuters includes far stronger language about debt…
The Ceylon Chamber of Commerce observes that the National Budget for 2023 contains many laudable reform proposals which, if implemented in a timely manner, will complement the on-going fiscal reforms outlined prior to the Budget. It is refreshing to see that the direction of the budget is towards reforms as compared to unsustainable relief measures…
Group Revenue remained resilient to grow 21% YTD reaching LKR 127.2Bn Total Taxes Paid to GoSL Rs26.0Bn for nine months ending 30th September 2022 which included Rs 11.3Bn in Direct and Rs14.7Bn in Indirect Taxes; The total taxes paid increased 47% YTD and 19% QoQ Group Net Profit After Tax reached Rs3.2Bn in Q3 2022…
Distribution to smallholder paddy farmers in four districts to commence this week The Food and Agriculture Organization of the United Nations (FAO) handed over 780.1 MT of Urea procured through the UN Central Emergency Relief Fund (UN-CERF) to the Ministry of Agriculture today (15). 15,619 farmers cultivating paddy on landholdings of half an acre or…
The Information and Communication Technology Agency (ICTA) of Sri Lanka and partner organizations will mark Global Entrepreneurship Week (GEW) from 14th -20th November 2022. Over eighty events will be organized by fifty ecosystem enablers covering four themes; ecosystems, education, inclusion, and policy. In addition, a series of events will take place across the country to…
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