Sat, 31 Jul 2021 Today's Paper

ComBank in US $ 15mn swap deal with IFC to hedge interest rate risk

14 June 2017 09:48 am - 0     - {{hitsCtrl.values.hits}}

A A A

International Finance Corporation (IFC), a member of the World Bank Group, and Sri Lanka’s Commercial Bank of Ceylon PLC has entered into an interest rate swap arrangement for a notional amount of $15 million, IFC communiqué said. 
The swap facility allows Commercial Bank to actively manage interest-rate risk related to its assets and liabilities. It also enables the bank to better serve customers seeking stable interest rates on their loans.  This is the first time that IFC is offering interest rate swaps in Sri Lanka. 
 “We have worked closely with IFC on several initiatives to promote economic inclusion in Sri Lanka by facilitating economic and financial integration across the country,” Commercial Bank MD/CEO Jegan Durairatnam said. “We are pleased that IFC is associating with us further by becoming the counterparty to this interesting derivative instrument that will help us manage our interest-rate risk more actively.”

 “IFC has a long-standing partnership with Commercial Bank. It has partnered with us on a number of innovative financings,” said Amena Arif, IFC’s Country Manager for Sri Lanka and Maldives. 
“This swap facility is no exception and will provide the bank with an important risk-management tool.”
 Sri Lanka is a priority country for IFC. IFC’s committed portfolio in Sri Lanka is now US $230 million and covers projects across a range of sectors, including infrastructure, tourism, renewable energy, finance, and healthcare. 
IFC also provides advisory services to promote sustainable growth among small and medium enterprises by facilitating access to finance and by offering capacity-building and training opportunities

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment


Ugly sporting truths Sport scholarships thrive in culture of corruption

Sadly the cohort of perpetrators include egotistical leaders, coaches and eve

JR Jayewardene and the July 1983 Anti-Tamil Violence

July 24, 1983 was the day on which a destructive spree of anti-Tamil violence

“Medamulana Dynasty”: Four Sons and Three Grandsons of Don Alvin Rajapaksa

Basil Rohana Rajapaksa was sworn in as Finance minister in the Government of

Site survey near Akasa Chaitya: Is it the end of Yala?

The Yala National Park has been at the receiving end of human disturbances fr



See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.