Pan Asia Bank has officially launched Privilege Banking, an exclusive service designed for premier customers seeking a highly personalized and elevated banking experience. The launch event was held at the World Trade Center (WTC) Privilege Banking Centre, attended by Pan Asia Bank Chairman Aravinda Perera, Director/CEO Naleen Edirisinghe, corporate management, and other distinguished guests. Privilege
Sri Lanka’s financial system is on the path to recovery, with expectations of improved asset quality and strengthened capital buffers, according to the Central Bank of Sri Lanka (CBSL) in its Financial Stability Review 2024. This positive outlook emerges as the economy stabilizes despite ongoing challenges stemming from previous macrofinancial imbalances, which are gradually being
The Sri Lanka-Canada Business Council (SLCBC) held a crucial briefing with Prime Minister Dr. Harini Amarasuriya on October 10, 2024, in Colombo, as part of their preparations for an upcoming mission to Canada. During the session, the SLCBC delegation outlined their key goals to strengthen trade, investment, and economic ties between Sri Lanka and Canada.
NDB Bank, in collaboration with AIA Sri Lanka, has been honored with the prestigious title of Bank Partner of the Year at the Asia Trusted Life Agents and Advisors Awards 2024. This marks a significant milestone as it is the first time Sri Lanka has received this esteemed international recognition. The Asia Trusted Life Agents
Mahindra Ideal Finance Limited (MIFL), a subsidiary of Mahindra Finance, has announced the appointment of Mufaddal Choonia as its new Managing Director and CEO, effective immediately. Choonia succeeds Duminda Weerasekare, who has retired from his position as CEO of MIFL. In his new role, Choonia aims to establish a robust digital lending ecosystem, with a
On October 1, 2024, People’s Bank marked World Children’s Day by relaunching its ‘Ethera Udana Minors’ Foreign Currency Account, now equipped with new features, at its headquarters. The event also saw the relaunch of the bank’s ‘Ethera Isura’ Personal Foreign Currency (PFC) account and People’s Remittance service. During the ceremony, new logos were unveiled for
Port City Colombo announced that Parliament officially passed two key offshore banking regulations, Offshore Banking and Offshore Banking – Prudent Management and Confidence, on September 4, 2024. This significant development aligns with Port City Colombo’s ambition to establish itself as a prominent regional financial centre, attracting increased Foreign Direct Investment (FDI) into Sri Lanka. Seven
Seylan Bank has unveiled a new addition to its financial services suite with the launch of Seylan Factoring, designed to help businesses access funds by leveraging outstanding trade receivables. Unlike traditional loans that consider a broad range of factors, factoring focuses primarily on the quality and collection of receivables to establish the facility. Seylan Factoring
Nine Sri Lankan banks, along with the Bank of China, have shown interest in establishing branches within the Colombo Port City, according to Chief Operating Officer of the Colombo Port City Economic Commission, Revan Wikramasuriya. Recently, Sri Lanka has introduced new regulations governing banking operations within this special economic zone. These banks will be regulated
Union Bank has appointed Mr. Dilshan Rodrigo as its new Director/Chief Executive Officer, effective August 16, 2024. With over two decades of experience in the banking sector, Mr. Rodrigo’s leadership marks a pivotal moment for Union Bank as it seeks to navigate Sri Lanka’s evolving banking landscape and focus on innovation and customer-centric strategies in