Vallibel Finance recently inaugurated its new branch in Athurugiriya, introducing its renowned financial services to the community. The event, graced by Managing Director Jayantha Rangamuwa, marked a significant milestone for the company, underscoring its commitment to expanding its reach and strengthening its bond with customers. Rangamuwa emphasized Vallibel Finance’s dedication to delivering innovative financial solutions
The Central Bank of Sri Lanka is seeking public feedback on proposed amendments to the Finance Leasing Act (FLA), inviting individuals to submit their observations and suggestions by May 31, 2024. With a focus on enhancing the protection of finance leasing customers and aligning regulations with industry advancements, the Central Bank aims to update the
Fitch Ratings has finalized its assessment of Siyapatha Finance PLC’s proposed Sri Lankan rupee-denominated senior unsecured debentures, assigning them a final National Long-Term Rating of ‘BBB+(lka)’. This rating aligns with the expected rating issued on March 14, 2024, and reflects the confirmation received from the company, substantiating the information previously provided. The assigned rating underscores
Sunshine Healthcare Lanka (SHL), part of Sunshine Holdings PLC (CSE: SUN), has secured a substantial equity investment of up to Rs. 3,270 million from the International Finance Corporation (IFC), a member of the World Bank. This strategic investment will see IFC acquiring around a 14.7% stake in SHL, reinforcing Sunshine’s commitment to meeting Sri Lanka’s
AgriFI, an agriculture financing initiative funded by the European Union (EU) and managed by EDFI Management Company, has announced a significant US $3 million loan to Sarvodaya Development Finance PLC (SDF) in Sri Lanka. This investment is aimed at supporting SDF’s provision of financial services to the agricultural sector, particularly through its agricultural machinery leasing
NDB Bank is excited to announce the winners of its successful campaign, “Salli Ratin, Thagi Apen, remittance Avurudu Wasiya,” which aimed to encourage the use of Western Union for foreign remittances. The campaign ran from 5 March to 10 April and concluded with the selection of lucky winners through a lottery draw. The first-place winner
Pan Asia Banking Corporation PLC has announced a notable increase in its Profit before Tax (PBT) by 47% for the first quarter of 2024, reflecting improved macro-economic conditions. The bank’s financial performance during this period showcased prudent portfolio management strategies, especially in dealing with potential fallout on asset quality amidst challenging times. The bank reported
LB Finance celebrated the traditional Awurudu festival on 19 April 2024 with great fervor, transforming its Corporate Office in Colpetty into a vibrant village scene. The staff adorned traditional Awurudu attire, immersing themselves in cultural activities that captured the essence of the festival. The event was marked by lively music and dance performances, creating an
Plantation companies are holding firm on their stance regarding productivity-based wages for estate workers, amidst union demands for a daily pay of Rs. 1,700. The Planters’ Association (PA) of Ceylon emphasized that while they are not opposed to wage hikes in principle, they insist on tying such increases to productivity gains. The Association submitted a
Sharmini Wickremasekera has recently been appointed as an Independent, Non-Executive Director to the Board of Directors of CBC Finance Ltd, effective from 22nd March. With an impressive career spanning over 40 years across various domains, she brings a wealth of experience and expertise to her new role. Beginning her professional journey at Ford Rhodes Thornton