The National Savings Bank (NSB) has reported an impressive profit-before-tax (PBT) of Rs. 15 billion for the first half of 2024, surpassing the previous year’s profit-after-tax (PAT) of Rs. 7.21 billion for the same period. NSB Chairperson Dr. Harsha Cabral commented on the strong financial performance, stating, “Our profitability in the first six months reflects
Sri Lanka’s insurance industry experienced mixed performance results in the first quarter, achieving a 7.39% year-on-year (YoY) growth in overall Gross Written Premium (GWP), equivalent to Rs. 5.41 billion, according to data from the Insurance Regulatory Commission of Sri Lanka (IRCSL). The combined GWP for Long-Term and General Insurance Businesses rose to Rs. 78.59 billion
The insurance industry in Sri Lanka reported a total Gross Written Premium (GWP) of Rs. 78,589 million for Long-Term and General Insurance Businesses for the period ending March 31, 2024, reflecting a 7.39% increase compared to Rs. 73,178 million in Q1 2023. This marks a premium growth of Rs. 5,411 million year-on-year. The GWP for
Overseas Realty (Ceylon) PLC has announced impressive financial results for the six months ending June 30, 2024. The company recorded a Group Revenue of Rs. 3,605 million and a Group Profit Before Tax of Rs. 3,519 million. The appreciation of the Sri Lankan Rupee (LKR) contributed to a net exchange gain of Rs. 1,134 million,
The Commercial Bank of Ceylon’s debenture issue, the largest ever by a private bank in Sri Lanka, closed after being oversubscribed on its opening day (July 2), raising Rs. 20 billion. This milestone underscores investor confidence in the institution. Announcing the oversubscription, the bank revealed it received applications for more than three times the Rs.