Company filings and market news from across Sri Lanka's stock market.
Citizens Development Business Finance PLC (CDB.N0000) won Silver at the National ICT Awards NBQSA 2024 for its AI-powered credit decision-making system. The system integrates CRIB data via API and an AI vehicle-valuation module to speed decisions, reduce default risk and improve credit quality.
Janashakthi sold a nearly 15% stake in Citizens Development Business Finance PLC to Asia Management Consultancy for Rs.2.2 billion (9 million shares at Rs.247.50), raising Asia Management's stake to 25.2% while Janashakthi retains about 5%.
Colombo Stock Exchange opened November with Rs.5.0 billion turnover as ASPI rose 0.7% to 12,864. Diversified financials led turnover (52%) and an off-board crossing saw CDB's 12.7% stake trade at Rs.247.50; several banks and mid/small caps (HNB, PABC, DFCC) saw heavy activity or gains.
Colombo Stock Exchange closed stronger with the ASPI up 0.73% (93.07 pts) at 12,863.65, led by financials; Citizens Development Business Finance Plc saw a Rs2.23bn crossing and its shares rose 1.63% to Rs233.50. Hatton National Bank and NDB also rose on the session.
R M Perera (Pvt) Ltd marks its 40th anniversary, highlighting its position as a leading interior design and furniture firm with a 2019 state-of-the-art production facility and clients including TAJ hotels and CDB Bank. It plans a concept store, e-commerce rollout and emphasizes sustainable design.
Colombo Stock Exchange closed higher: All Share Index +0.18% to 12,313 and S&P SL20 +0.26% to 3,622, with turnover Rs1.9bn. Renewed investor interest in leasing/finance on a possible vehicle import ban reversal and positive results/crossings at L B Finance and CDB; net foreign outflow Rs87mn.
Colombo Bourse closed marginally higher (ASPI +12) with net foreign inflows of Rs.267m, led by strong foreign buying in John Keells (JKH: net +Rs.132.7m; JKH up Rs.4.50 to Rs.198.25). Turnover was Rs.1.6bn; capital goods (via JKH), banking and F&B were top turnover contributors.
Colombo bourse saw net foreign inflows of Rs. 339.1 mn while the ASPI fell 19 points on turnover of Rs. 2.1 bn. John Keells drew the most foreign buying and led turnover, banks (Sampath, DFCC) weighed on the index and AGPL rose 9.8% after a dividend.
Colombo Stock Exchange closed down, the All Share Index fell 0.16% to 12,152 with turnover Rs 2.1bn and a net foreign outflow of Rs 339m; top foreign buying included Commercial Bank, Sampath Bank, ACL Cables, Melstacorp and Elpitiya Plantations, and Agarapatana Plantations suspended trading after announcing a Rs1 dividend.
Fitch has affirmed Citizens Development Business Finance PLC’s National Long-Term Rating at 'BBB(lka)' with a Stable Outlook and its subordinated debt at 'BB+(lka)'. Fitch noted CDB's large motor-car exposure (75% vehicle financing, 18% gold-backed lending) and said easing vehicle import bans could support growth.
Central Bank Governor said a sovereign ISB bond exchange could occur in 6–8 weeks if the government proceeds with the existing DSA and completes a comparability assessment. He said an agreement in principle exists with ISB holders, local bondholders and the ADB, with local banks to receive new bonds.
Intellect Design Arena launched eMACH.ai in Sri Lanka — a composable open-finance platform offering 329 microservices, 535 events and over 1,757 APIs to help banks design future-ready technology. Named local clients include HDFC Sri Lanka, Cargills Bank, Central Finance, CDB, Seylan Bank and Union Bank of Colombo.
Citizens Development Business Finance (CDB.N0000) marks its 29th anniversary and completed its 50th electric three-wheeler conversion, reducing 161,796 kg of carbon emissions per year. CDB says it is the fourth-largest NBFI, pursuing a digital-first model, NetZero by 2030 and expanded foreign funding including a $30m DFC loan.