Sri Lanka’s retail fuel prices will remain unchanged for August 2024, according to the state-run Ceylon Petroleum Corporation (CPC). The CPC was expected to announce its monthly formula-based fuel prices effective from midnight on July 31. Previously, the CPC reduced petrol prices by 11 rupees to 344 rupees per litre and 95 Octane petrol by
Seylan Bank PLC reported a significant profit increase for the quarter ending June, driven primarily by a reduction in loan loss provisions. The bank’s net profit soared by nearly 50%, reaching Rs. 2.21 billion, or Rs. 3.48 per share, up from Rs. 1.48 billion, or Rs. 2.32 per share, in the same period last year.
As a pioneer in the digital banking revolution in Sri Lanka, DFCC Bank is empowering its customers with an additional 0.5% interest on all fixed deposits (FDs) opened through DFCC Online Banking. DFCC Bank’s digital delivery channels, including DFCC Online Banking, are designed to provide maximum convenience, enabling customers to bank seamlessly from anywhere at
The government is set to implement the Rs. 1,700 daily wage for plantation workers by issuing a fresh gazette within the first two weeks of August, pending necessary approvals from the respective wages boards. On July 10, the initial gazette notification mandating plantation companies to pay the Rs. 1,700 daily wage, a 70% increase from
Top blue-chip company John Keells Holdings Plc (JKH) reported an EBITDA of Rs. 7.7 billion for the first quarter of FY25, marking a 13% decrease from the previous year. The bottom line, however, showed a net loss of Rs. 868 million. The Group’s EBITDA included significant pre-opening costs related to the ramp-up for the opening
State Minister of Finance Shehan Semasinghe announced yesterday that the Government plans to permit the importation of vehicles for private use starting in the first quarter of 2025. Additionally, permission for commercial vehicle imports will be granted by August this year. The initial phase will focus on allowing imports for business and transportation purposes. “Regarding
NDB Bank is advancing financial education and empowerment by integrating Credit Information Bureau of Sri Lanka (CRIB) reports into its NDB NEOS mobile banking app. This partnership allows users to access their credit reports and scores (iReport and CRIB Score) directly through the app, providing valuable insights into their credit status and facilitating proactive financial
Sri Lanka’s private sector credit saw a notable expansion of 146 billion rupees during the first half of 2024, according to official data. This growth contrasts with a reduction in credit extended to the government, although government credit continued to surpass private sector lending. In the six months leading up to June 2024, commercial bank
Pan Asia Banking Corporation PLC reported a solid performance for the first half of 2024, with a Pre-tax Profit (PBT) of Rs. 1,996 million, marking a 32% increase compared to the same period last year. The Bank’s net fee and commission income surged by 24% in the first half of 2024, driven primarily by increased
Overseas Realty (Ceylon) PLC has announced impressive financial results for the six months ending June 30, 2024. The company recorded a Group Revenue of Rs. 3,605 million and a Group Profit Before Tax of Rs. 3,519 million. The appreciation of the Sri Lankan Rupee (LKR) contributed to a net exchange gain of Rs. 1,134 million,