NDB Bank 1Q25 profit climbs on reduced impairments, loan growth

National Development Bank PLC (NDB) reported a 168 percent year-on-year (YoY) jump in the first quarter net profit to Rs.1.9 billion, supported by lower impairment charges and steady growth in core banking operations. Total operating income rose 5 percent to Rs.10.6 billion, though net interest income slipped one percent to Rs.8.0 billion, due to a 270-basis-point drop in market interest rates. Net interest margin stood at 3.92 percent.

ComBank closes in on Rs.3tn asset mark with strong 1Q25 performance

Commercial Bank of Ceylon Group made a characteristically strong start to 2025, recording a healthy profit and balance sheet growth in the first quarter of the year.

MBSL sets ambitious target to grow balance sheet to Rs.50bn by 2026

Merchant Bank of Sri Lanka & Finance PLC (MBSL), a subsidiary of Bank of Ceylon, has set an ambitious objective to increase its balance sheet to Rs.50 billion by 2026, following a period of notable financial expansion and strategic initiatives.

Indices record the largest daily gain in 4 weeks

The ASPI closed in green as a result of price gains in counters such as Hatton National Bank, Central Finance Company and Commercial Bank with the turnover crossing Rs. 3.3 Bn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in John Keells Holdings, Sunshine Holdings and LB Finance. Mixed interest was observed in Aitken Spence, Central Finance Company and Dialog Axiata whilst re

Sri Lanka – China Trade & Investment Forum to welcome high-level delegation

A high-level Sri Lanka-China Trade and Investment Forum will be held in Colombo on May 30, hosted by The Ceylon Chamber of Commerce and the Department of Commerce of Sri Lanka, together with the Sri Lanka – China Business Council of the Ceylon Chamber, and the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.

Auction yields hold ground; market kicks off with fresh buying

The Central Bank conducted its weekly T-bill auction yesterday, raising Rs.173.0 billion, in line with the initial offering, whilst of this, Rs.111.1 billion was raised via the 12-month T-bill.

Agalawatte Plantations welcomes Manoj Udugampola to director board

Agalawatte Plantations announce the appointment of Manoj Udugampola to its Board of Directors, effective from 08/05/2025.

LIC Lanka secures Rs. 2000mn capital infusion from parent company

LIC (Lanka) Ltd announced that it has secured Rs.2000 million in capital infusion from its parent company LIC of India.

Monik launches world renowned Walton brand in Sri Lanka

Leading microfinance provider Monik Group of Companies introducing its latest venture to the public, announced the launch of the world-renowned Walton brand of home appliances and consumer electronics in Sri Lanka last week.

Amana Bank upgrades Akurana branch

Amana Bank recently relocated its Akurana branch to Matale Road, offering customers a larger and more convenient space to experience improved banking services.

NDB Bank partners with John Keells Properties to offer exclusive financing for VIMAN Ja-Ela

NDB Bank announced its exclusive partnership with John Keells Properties to provide a 100 percent home loan financing solution for Phase 3 of the VIMAN residential project in Ja-Ela.

Sampath Bank launches Weekend & Holiday POS settlements for CEYPETCO fuel stations

Sampath Bank has become the first local bank to launch a next-day POS settlement feature that functions seamlessly across weekends and public holidays.

ACHE honoured as ‘Best Institute for American Standard Education in SL’

The American College of Higher Education (ACHE), which has been offering American-style education in Sri Lanka for nearly 30 years, was recently honoured as the Best Institute for American Standard Higher Education at the Global Business Excellence Awards 2025.

Increase in MDR for QR code transactions, a step backwards: expert cautions

A recent decision by the Central Bank (CB) to double the Merchant Discount Rate (MDR) for QR code transactions, raising it from 0.5 percent to 1 percent, has ignited strong criticism from a leading digital payments expert and former Central Banker.

ACCA appoints VenturesKey as ACCA Approved Employer

The Association of Chartered Certified Accountants (ACCA), a globally recognized body for professional accountants, has officially appointed VenturesKey as an ACCA Approved Employer, recognizing the organization’s commitment to nurturing professional development and maintaining the highest standards in finance and accounting.

TEDxColombo celebrates the power of ‘MAD’ ideas

TEDxColombo, one of the prominent and long-standing TEDx events in Sri Lanka, announced the 13th edition of its flagship event, scheduled for June 1st, at the Nelum Pokuna Theatre.

Nagarro expands neurodiversity training programme to Sri Lanka

Nagarro, a global leader in digital engineering, recently announced the expansion of its neurodiversity initiative ‘TestingPro’ to Sri Lanka, in collaboration with the Shiranee Joseph de Saram Foundation (SJDSF).

Prime Group appoints Umaria as Global Brand Ambassador

Prime Group has appointed singer Umaria Sinhawansa as its Global Brand Ambassador.

Cartoon of the Day 15-05-2025

Gestetner to resume from new site after fire

Gestener of Ceylon PLC shared that its business operations remain significantly disrupted following a fire at its premises on Vauxhall Street, Colombo 02, on 10 May.

CSE rallies past 16,100 as global economic tensions ease, boosting investor sentiment

The Colombo Stock Exchange (CSE) closed the session with strong upward momentum, surpassing the 16,100 mark amid renewed investor confidence. This surge was driven by easing global economic tensions, particularly between the United States and China, which provided a supportive backdrop for equity markets worldwide.

Tourism maintains upward momentum with US$ 256.7mn April earnings

Sri Lanka’s tourism sector continues to maintain its recovery momentum as it recorded US$ 256.7 million in earnings for April 2025, a 13.7 percent increase year-on-year (YoY).

Worker remittances exceed US$ 2bn by April

Workers’ remittances to Sri Lanka surpassed the US$ 2 billion mark in the first four months of 2025. Despite the milestone, cumulative inflows are trailing last year’s pace, official data showed.

HNB’s 1Q profit jumps 49% on lower interest costs

Hatton National Bank (HNB) saw its earnings climb in the first quarter of 2025, with group profit after tax rising 49 percent year-on-year to Rs 11.1 billion.

SriLankan eyes five new aircraft including two narrow-bodies by 2026

Sri Lanka’s loss-making national carrier, SriLankan Airlines, plans to add five new aircraft including two narrow-body planes to its fleet by March 2026, according to a top company official.

DFCC Bank posts Rs. 2.8 bn PAT in 1Q25

DFCC Bank PLC posted a profit before tax (PBT) of Rs. 3,912 million and a profit after tax (PAT) of Rs. 2,768 million for the period ended 31 March 2025, compared to a PBT of Rs. 4,733 million and PAT of Rs. 3,134 million a year earlier.

SLT Group delivers strong 1Q25 as Mobitel lifts top line

Sri Lanka Telecom (SLT) Group reported a profit after tax of Rs. 2.00 billion for the quarter ended 31 March, sharply higher than Rs. 156 million a year earlier, supported by tighter financial management and improved operational efficiencies.

DIMO excels at Mercedes-Benz Service Excellence Regional Award Ceremony

DIMO, the Authorized General Distributor for Mercedes-Benz in Sri Lanka, won the ‘General Distributor Award’ at the Mercedes-Benz Service Excellence – Regional Award Ceremony, surpassing the peers in the Southeast Asia region.

CBSL Governor addresses People’s Bank staff

Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, delivered the keynote speech under the theme ‘Bankers’ Responsibilities in Alignment with the Policy Agenda of the Central Bank of Sri Lanka for 2025 and Beyond’ at a special staff gathering session held at the People’s Bank Staff Training College Auditorium in Colombo 05.

HNB and UNIMO Enterprises collaborate to offer vehicle leasing solutions

HNB PLC has entered into a strategic partnership with UNIMO Enterprises Ltd to offer an array of exclusive vehicle leasing options.