Fitch upgraded the national long-term ratings of 10 Sri Lankan non-bank financial institutions and affirmed eight after recalibrating the national scale; notable upgrades include Central Finance, L B Finance, HNB Finance, Merchant Bank, Abans Finance and Singer Finance, while UB Finance was affirmed with a negative outlook.
Abans Finance PLC said Rusi Pestonjee has resigned as a non-independent non-executive director after nine years. He is also the managing director of the Abans Group and a majority shareholder in International Restaurant Systems.
Abans Finance PLC appointed Aruna Perera as an Independent Non-Executive Director. Perera is President of CFA Society Sri Lanka and Group CFO of Analytical Instruments Ltd, with over 25 years' experience in finance and valuation.