Examining specific industries such as technology, healthcare, finance, and manufacturing, including trends, challenges, and opportunities within each sector.
Sampath Bank has announced plans to raise up to Rs. 10 billion via Basel III compliant, tier 2, listed, rated, unsecured, subordinated, redeemable five-year debentures with a non-viability conversion feature. The bank’s Board approved the initial issuance of 50,000,000 debentures at a par value of Rs. 100 each to raise Rs. 5 billion. There is
DFCC Bank has reported a partial sale of its Sri Lankan sovereign bond holdings, resulting in a loss of 2.17 billion rupees. This transaction, however, led to the reversal of 2.45 billion rupees in previously set provisions. The bank’s sovereign bond portfolio was valued at 4.59 billion rupees by the end of December 2023, a
Hatton National Bank Plc (HNB) is set to raise up to Rs12 billion through a new debenture issue, the bank announced. The debentures, compliant with Basel III regulations, will be Tier 2, listed, rated, unsecured, subordinated, redeemable, and include a non-viability conversion feature. Each debenture will be priced at Rs100. The initial issue will include
Union Assurance, Sri Lanka’s leading life insurer, is enhancing its customer support by partnering with Union Chemists, a renowned pharmaceutical provider with over 60 years of excellence in health product delivery. This new collaboration is designed to make health products more accessible and affordable, especially in an era of rising health-related costs. Union Assurance policyholders
AIA Insurance recently hosted the AIA Sales Convention 2024 at Shangri-La Colombo, under the inspiring theme ‘WINGS UP – to fly beyond Everest’. The event celebrated the outstanding achievements of AIA’s top wealth planners in a setting filled with motivation and prestige. AIA CEO Chathuri Munaweera, Chief Agency Officer Chanaka Liyanage, the executive committee, and
Sampath Bank announced a significant financial performance for the first half of 2024, with a 45% increase in profit after tax (PAT) to Rs. 11.1 billion, up from Rs. 7.7 billion in the same period last year. The profit before tax (PBT) also saw a notable rise, reaching Rs. 18.5 billion, a 40% increase compared
Amãna Bank has inaugurated its latest self-banking centre at Kattankudy Beach Road, marking a significant expansion in its network. This new facility, located at the Al-Aqsa Mosque Complex, Beach Road, New Kattankudy 03, brings the bank’s total number of access points to 64 nationwide. This includes 33 full-service branches and 31 automated Self Banking Centres.
Pan Asia Bank has launched its new ‘SME Re-Energizer’ loan, a collaborative initiative with the Sri Lankan Government aimed at providing crucial financial support to SMEs and MSMEs across Sri Lanka. The ‘SME Re-Energizer’ loan offers investment opportunities up to Rs. 15 million per SME client with a valid business registration, featuring a competitive interest
People’s Leasing & Finance PLC (PLC), a leading non-bank financial services institution and a subsidiary of People’s Bank, has announced the appointment of Sanjeewa Bandaranayake as its new Chief Executive Officer (CEO) and General Manager (GM), effective August 6, 2024. This appointment has received the approval of the Central Bank of Sri Lanka. Bandaranayake, who
The Insurance Association of Sri Lanka (IASL) is set to host the ‘Sri Lanka International Insurance Summit 2024’ from August 12-14 at the Shangri-La Colombo. This highly anticipated three-day event aims to bridge Sri Lanka with the global insurance industry, showcasing regional business opportunities and encouraging international investment. The summit will gather both local and