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Jayantha S B Rangamuwa to lead Pan Asia bank as new Chairman; Aravinda Perera appointed Deputy Chairman island.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from island.lk Daily Mail and Mail on Sunday newspapers.
Unilever Sri Lanka expands uStore.lk footprint on Viber island.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from island.lk Daily Mail and Mail on Sunday newspapers.
Jayantha Rangamuwa to lead Pan Asia bank as new chairman; Aravinda Perera appointed deputy chairman island.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from island.lk Daily Mail and Mail on Sunday newspapers.
Seylan Bank made a steady start in 2021 by posting a Profit After Tax (PAT) of LKR 1bn in Q1 2021 amidst macro-economic challenges brought in by the COVID-19 pandemic. Interest income recorded a decline due to the lower interest rates and moderate book growth but net interest margin showed a marginal increase over the corresponding period in 2020 due to lower financing costs. Net Fee & Commission Income increased marginally to LKR 1.2bn from LKR 1.0bn, recording a YoY growth of 17.41% due to enhanced trade and guarantee volumes compared to the previous year. The Total Operating Income growth of 22.25% predominantly driven by net gains reported from de-recognition of financial assets which increased to LKR 185.2mn from LKR 69.6mn in 1Q 2020 and the other operating income increased by LKR 858.8Mn mainly due to increase in exchange income. On the flip side, trading activities reported a loss of LKR 611.4mn mainly due to market to market loss on derivatives which contracte ....
January, 25, 2021 Fitch Ratings - Colombo - 25 Jan 2021: Fitch Ratings has revised the National Long-Term Ratings of Sri Lankan financial institutions following the recalibration of the agency s Sri Lankan national rating scale. The recalibration is to reflect changes in the relative creditworthiness among Sri Lankan issuers following Fitch s downgrade of the sovereign rating to CCC from B- /Negative on 27 November 2020. Fitch typically does not assign Outlooks or apply modifiers to sovereigns with a rating of CCC or below. Revision ratings are used to modify ratings for reasons that are not related to credit quality in order to reflect changes in the national rating scale driven purely by the recalibration of the National Ratings Correspondence Table. ....