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Pan Asia Bank inaugurates its newly-relocated Monaragala branch with great fanfare

Pan Asia Bank inaugurates its newly-relocated Monaragala branch with great fanfare
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ComBank Bangladesh selects Digital Payment Services to develop digital banking platform for Bangladesh

Award winning fintech software development provider Digital Payment Services (Pvt) Ltd (DPS) has been selected to custom develop a comprehensive digital banking platform for Commercial Bank of Ceylon Bangladesh. The solution will be the first of its kind in Bangladesh, incorporating a number of innovative features to improve the speed of on boarding new customers […]

Investment costs in Sri Lanka seen as having doubled over the past months

By Hiran H. Senewiratne The current US dollar crisis and high US dollar rate discourage investing in Sri Lanka because the investment cost has doubled during the last few months, a leading end-to-end auto care specialist said. “We were planning to invest in Sri Lanka in a big way but abandoned our plans due to […]

A protracted downturn could weaken Abans leverage vs Singer: Fitch Ratings

Dec 16, 2020 (LBO) – Fitch Ratings believes Sri Lanka-based consumer-durables retailer Abans PLC’s (BBB+(lka)/Negative) leverage will rise faster than that of its peer Singer (Sri Lanka) PLC (BBB+(lka)/Negative) if the coronavirus-led economic downturn worsens. This is because of Abans’ higher exposure to higher-risk non-core businesses. However, the ratings of both companies are currently the same, reflecting Abans’ lower leverage than Singer, which provides a buffer against Abans’ higher business risk. Singer’s better business risk profile reflects its market leadership in consumer-durable retailing in the country, its more diversified product portfolio, and higher mix of locally manufactured products, which support more stable profit margins during periods when the local currency weakens.

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