Private sector credit demand showed signs of slowing in September, falling short of the recent high recorded in August, according to data from the Central Bank. In October, credit to the private sector increased by Rs. 89 billion, reflecting an 8.9% year-on-year growth. This was a decrease compared to the Rs. 135 billion growth seen
Fitch Ratings has reaffirmed LB Finance PLC’s National Long-Term Rating at ‘BBB+(lka)’ with a Stable Outlook. The rating reflects LB Finance’s solid financial standing, characterized by superior profitability and asset quality compared to its peers. However, the company’s significant exposure to market risk through its extensive gold-backed lending business offsets these strengths. The rating also
Sri Lanka’s central bank has outlined its economic projections for 2024, anticipating a 3.0 percent growth and a recovery in private credit to 8.5 percent, following a 0.6 percent contraction in 2023. The projections also include an increase in exports to 12.9 billion US dollars from 11.9 billion dollars and a rebound in imports to