News & market updates

Colombo Stock Exchange closed lower: ASPI fell 67.40 points (-0.42%) to 15,799.94. Broad profit-taking hit banks (HNB, SAMP, COMB, CTHR, NDB) while MELS, GLAS, SINS and DIST were among gainers; turnover was Rs.2.37bn with net foreign outflow.

Colombo market extended gains as the ASPI rose 56 points (0.35%) to 15,867 on turnover of Rs.2 billion with foreign net inflows of Rs.25.5m. Food, Beverage & Tobacco and Materials led turnover and gains while banking showed subdued sentiment.

Hayleys PLC plans to raise up to Rs.7 billion via listed five-year debentures (initial tranche Rs.5bn: 50 million units at Rs.100), with subscription opening 5 May 2025; the CSE gave in-principle approval and HNB Investment Bank and Commercial Bank of Ceylon are joint placement agents.

Colombo bourse rose as the ASPI gained 69 points (0.44%) to close at 15,811 on turnover of Rs. 2.79bn, while foreigners were net sellers (net outflow Rs. 101.4m). John Keells, Hemas, Vallibel Finance and Commercial Bank were among top contributors, with capital goods leading turnover and diversified financials and food/beverage active.

Fitch says Sri Lanka's State banks remain capital-vulnerable despite profit gains, noting BOC and People's Bank allocated 72% of combined profit (2.2% of combined RWAs) to a special reserve. Fitch estimates BOC's and PB's CET1 (11.97% and 10.43%) could fall below 10% under higher risk weights on FX sovereign exposures.

Fitch says the Central Bank has required banks to set a 15% special reserve on restructured government foreign‑currency exposures for six months from end‑2024, which materially weakens state banks' regulatory capital while private banks such as Commercial Bank and HNB face a smaller impact.

Fitch: Sri Lanka's state banks allocated 72% of combined profit (2.2% of RWA) to a CBSL-mandated special reserve for restructured foreign-currency exposures, leaving weaker regulatory capital despite higher profits; systemically important private banks like Commercial Bank and Hatton National Bank allocated far less (19% and 0.7%) and saw stronger profitability.

The ASPI gained 72 points (+0.5%) to 15,616 as the Colombo market bounced back, led by the capital goods sector. Turnover was about Rs.1.5 billion with net foreign inflows of Rs.35.2m; notable movers included Hemas, John Keells, Browns, Alumex and DFCC.

Fitch assigned Commercial Bank of Ceylon PLC’s proposed Rs.15 billion Basel III-compliant subordinated green bonds an expected national long-term rating of 'A(EXP)(lka)'. The bonds (5, 7 and 10-year maturities) will be listed on the CSE, intended to bolster Tier-2 capital and expand the bank's green lending and include a non-viability conversion clause.

Commercial Bank of Ceylon signed an MoU with ACH Education to offer student loans covering up to 80% of course fees (up to Rs 10 million) with a two-year interest-only grace period, a 0.5% rate reduction and 50% waivers on documentation and TT charges.

Commercial Bank of Ceylon was named ‘Best Bank in Sri Lanka’ by Global Finance for the 23rd year. The bank said it raised Rs.22.54 billion via a rights issue and had group assets of Rs.2.876 trillion as at 31 Dec 2024.

Colombo market stayed bearish as the ASPI fell 43 points (0.28%) and the S&P SL20 dipped 0.68% on turnover of Rs.991.4m, with foreign net selling of Rs.63.4m. Banking names (COMB, HNB, NDB) and JKH weighed on the index while pockets of interest were seen in CINS, ASIR and COCR and retail interest in PAP, LVEF and LOFC.

Colombo stocks fell with the ASPI down 0.28% at 15,555.86 as uncertainty over US tariffs and Fed interest-rate commentary hit exporters and banks; key decliners included John Keells, Hayleys, Teejay, Haycarb and major banks, with a net foreign outflow of Rs 64m.

Commercial Bank of Ceylon was named ‘Best Bank in Sri Lanka’ by Global Finance for the 23rd consecutive year. The bank said it raised Rs 22.54 billion via a rights issue and reported group assets of Rs 2.876 trillion as at 31 Dec 2024.

The Trade Finance Association of Bankers held its 28th AGM on 19 February and re‑elected Shyam De Silva of Hatton National Bank as President; the body unveiled a new Vision/Mission and emphasised digital innovation, industry collaboration, global standards and professional development in trade finance.

NDB Bank has signed the Women Entrepreneurs Finance Code, committing to expand access to finance for women-led micro, small and medium enterprises as Sri Lanka adopts the Code nationally.

JAT Holdings relaunched its JAT Loyalty Program on 3 Dec 2024, adding an industry-first insurance scheme for painters and their families and enabling conversion of loyalty points to cash via a Commercial Bank debit card.

Colombo stocks fell 0.06% as the ASPI closed down 9.31 pts at 15,616.57 and the S&P SL20 lost 0.44% amid continued US-China trade tensions; turnover was Rs 841 mn. Banking shares led declines: Sampath Bank -1.1% (Rs110.75), Commercial Bank -0.1% (Rs139.00), HNB -0.1% (Rs299.00).

Commercial Bank of Ceylon (COMB.N0000) has re-launched its Head Office 'Foreign Branch' as a Corporate Branch, a one-stop hub offering trade finance, treasury, offshore, Islamic and investment banking and bespoke corporate solutions. The branch emphasizes digital integration and dedicated relationship managers to streamline payments and reconciliations for corporate clients.

A 90-day US tariff pause lifted the Colombo market: ASPI +4.74% and S&P SL20 +6.7%, boosting market capitalisation by about Rs.221bn to Rs.5.549tn on Rs.7bn turnover, led by heavy trading in Sampath Bank, John Keells, Commercial Bank and RIL Property.

Commercial Bank of Ceylon (COMB.N0000) has rebranded its Head Office 'Foreign Branch' as a dedicated 'Corporate Branch' to serve corporate and trade clients with trade finance, treasury, offshore and Islamic banking and relationship-managed services. The branch emphasises digitalisation for payments integration and reconciliation to boost efficiency.

Commercial Bank of Ceylon signed an MoU with Micro Cars Ltd to offer special leasing options for Micro Cars' locally assembled brands through 31 March 2026. Benefits include discounts (e.g. Rs.50,000 off Chery Tiggo4Pro), free insurance/service packs for select models and tailored Super/Hybrid Leasing plans.

Sri Lanka's All Share Price Index rose 4.74% to 15,580.83 after the US announced a 90-day pause on a proposed 44% tariff increase on Sri Lankan exports. Top contributors were Commercial Bank (+9.39%), Hatton National Bank (+9.54%), Sampath Bank (+8.41%) and John Keells (+4.69%); turnover LKR 6.98bn.

ASPI fell 1.7% to 14,876 with the S&P SL20 down 2.4%; turnover was Rs.3 billion and there was a Rs.1 billion net foreign inflow led by John Keells (Rs.665m). Banking names (Sampath, Commercial Bank, Hatton) and Hayleys were among the main laggards while capital goods drove turnover.

Colombo Stock Exchange fell after new US tariffs took effect: ASPI dropped 1.66% to 14,875.95 and the S&P SL20 fell 2.37% to 4,352.69. Export-exposed Hayleys slid 5.98% and John Keells plus major listed banks also closed lower.

Fitch assigned Commercial Bank of Ceylon's proposed Rs.15 billion Basel III-compliant subordinated green bonds an expected National Long-Term Rating of 'A(EXP)(lka)'. The rupee-denominated 5/7/10-year bonds will be listed on the CSE to bolster Tier-2 capital and expand the bank's green lending; final rating awaits documentation.

Commercial Bank of Ceylon has partnered with Micro Cars Limited to offer special leasing deals across Micro Cars' brands until 31 March 2026, including a Rs 50,000 discount on the Chery Tiggo4Pro, first-year insurance and service packages for select models, and tailored payment plans (leasing rate advertised at Rs 1,598 per Rs100,000 for a seven-year lease).

Colombo bourse rebounded strongly as ASPI rose 3% (surging 467 points) and S&P SL20 gained 4.65%, adding Rs.170bn in market value led by banks (Sampath, Commercial, HNB) and majors including John Keells, Hayleys, Access Engineering and DIMO; turnover was Rs.2.9bn and foreigners were net buyers (Rs.48.3m).

Sri Lanka's ASPI rebounded 3.19% (467.26 pts) to 15,127.71 and the S&P SL20 rose 4.54% as markets recovered ahead of the US tariff deadline. Top contributors included Commercial Bank, John Keells, Sampath Bank, HNB and Hayleys, with banking stocks trading positively.

Commercial Bank of Ceylon (COMB) had its proposed LKR 15 billion Basel III-compliant subordinated green bond assigned an expected national long-term rating of 'A(EXP)(lka)' by Fitch. The 5, 7 and 10-year bonds will be listed on the CSE, include a non-viability clause and aim to bolster Tier 2 capital and green lending.