Sri Lanka’s rupee appreciated to 292.25/35 against the US dollar on Wednesday, strengthening from 292.45/55 the previous day, according to market sources. Concurrently, government bond yields continued their downward trend. Key bond yield updates include: Additionally, a treasury bill auction worth 147,500 million rupees was ongoing. On the equity side, the Colombo All Share Price
Vallibel Finance PLC has launched its inaugural listed debenture issue to raise Rs. 3 billion, marking a significant milestone in its funding strategy. The company will initially issue 20 million rated, subordinated, unsecured, redeemable debentures priced at Rs. 100 each, with the option to issue an additional 10 million debentures if the initial tranche is
Siyapatha Finance PLC recently announced steady financial growth for the first half of 2024, ending June 30. The company achieved a profit after tax (PAT) of Rs. 513 million, marking a remarkable 189% increase compared to the same period last year. Profit before tax (PBT) also saw substantial growth, rising by 133% to Rs. 1,215
The Cabinet of Ministers has approved the establishment of a Financial Stability Fund aimed at strengthening Sri Lanka’s bank resolution framework as part of the Central Bank of Sri Lanka’s (CBSL) financial crisis management program. The initiative will begin with an initial allocation of Rs. 1 billion from the Ministry of Finance, Economic Stabilisation, and
The Sri Lankan rupee opened slightly stronger at 300.75/301.00 to the US dollar on Tuesday, following Monday’s close of 301.50/302.00. Bond yields also saw a significant rise, according to market dealers, while stocks showed a modest increase of 0.13 percent in early trading. In secondary market bond trading, activity was subdued ahead of a bond
DFCC Bank PLC in Sri Lanka is set to launch a senior, rated, 3-year green bond issue to raise Rs 2 billion, with a potential Greenshoe option to increase the amount to Rs 2.5 billion. The subscription list for the green bond issue opens on Thursday, the 12th. The bank will initially issue 20 million
Sri Lanka is set to amend its Value Added Tax (VAT) Act to phase out temporary VAT registrations by the end of 2024, targeting importers and distinguishing between personal and commercial imports to prevent tax revenue loss, according to a recent Parliamentary report. The Third Report by the Committee on Ways and Means revealed that
Sri Lanka’s National Development Bank Plc (NDB) has announced plans to raise up to 10 billion rupees through a debenture issue. The bank will offer Basel III-compliant, Tier 2 listed, rated, unsecured, subordinated, redeemable debentures with a non-viability conversion at 100 rupees each. Initially, 50 million of these 5-year debentures will be issued, with the
As of September 2, 2024, gold prices in Sri Lanka have been updated as follows: Gold Unit Gold Price Gold Ounce Rs. 757,240.00 24 Carat 1 Gram Rs. 26,720.00 24 Carat 8 Grams ( 1 Pawn ) Rs. 213,700.00 22 Carat 1 Gram Rs. 24,500.00 22 Carat 8 Grams ( 1 Pawn ) Rs. 195,950.00
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