Hatton National Bank PLC (HNB) made a strategic move by appointing S. Renganathan and Nanda Fernando, former managing directors of leading Sri Lankan commercial banks, to its Board of Directors as Independent Non-Executive Directors. This is a significant development for HNB, as industry analysts view it as an unprecedented step. Renganathan and Fernando’s extensive experience

Amana Takaful Insurance PLC (General) is celebrating another year of exceptional performance, solidifying its position as a leader in Sri Lanka’s insurance industry. For the third consecutive year, the company has achieved impressive growth, marking a staggering 28% year-on-year increase in Gross Written Premiums (GWP) in 2023. This remarkable achievement translates to impressive revenue of

The Commercial Bank of Ceylon has embarked on a strategic partnership with the International Finance Corporation (IFC) to establish itself as Sri Lanka’s leading Supply Chain Financing (SCF) bank. This collaboration aims to unlock greater financial resources for Small and Medium Enterprises (SMEs), a vital segment of the Sri Lankan economy. Recognizing Commercial Bank’s extensive

A delegation from the Thai Prime Minister’s Office recently visited the Hambantota International Port (HIP) in Sri Lanka. This eight-member group, comprised of government officials and analysts, aimed to learn more about the port’s operations and explore potential business opportunities. The visit comes on the heels of an earlier trip by the HIP team to

People’s Bank of Sri Lanka capped off 2023 with a consolidated operating income of LKR 96.8 billion and a pre-tax profit of LKR 19.3 billion. Despite facing headwinds, the bank demonstrated resilience and strategic execution. A key challenge was managing high interest costs on term deposits, a legacy of the high-interest rate environment in 2022

Intrepid Travel, the world’s largest adventure travel company and a champion of responsible tourism, is placing a significant bet on Sri Lanka. Chairman and Co-Founder Darrell Wade’s recent visit underscores the island nation’s importance in their 2030 strategy for sustainable growth. Sri Lanka’s allure for Intrepid is evident in the company’s phenomenal growth there. Their

Sri Lanka possesses a unique advantage in the global market – its graphite. This high-quality mineral, known as vein graphite, is considered the best in the world. A recent study by the International Policy Studies (IPS) highlights this potential, urging the country to capitalize on the rising demand for electric vehicles (EVs). The report, led

Despite a challenging economic climate in FY2022/23, the Richard Pieris Group demonstrated remarkable resilience. The company achieved a significant milestone, recording total revenues of LKR 79.1 billion, a commendable 17% increase compared to the previous year’s LKR 67.6 billion. This impressive growth is a testament to the leadership of Dr. Sena Yaddehige and the dedication

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has taken a significant step towards promoting transparency and excellence in corporate reporting with the launch of the TAGS Compliance Badge. This new initiative signifies a commitment to the highest standards in both financial and non-financial reporting practices. The launch ceremony, held in collaboration

Sri Lanka’s economic outlook received a mixed forecast from NDB Bank at their recent Investor Earnings Call event on March 20th, 2024. While there are potential challenges, NDB also sees reasons for optimism. Debt repayments may put pressure on the exchange rate: Niran Mahawatte, Head Treasury at NDB, acknowledged the potential strain on the Sri