News & market updates

Colombo market closed with the ASPI up 0.27% at 14,654.26 while the S&P SL20 fell 0.32% to 4,390.12 as profit-taking in banking stocks weighed on the SL20. Top gainers included Ceylon Cold Stores, PGP Glass, John Keells, Dipped Products and Lanka IOC; net foreign outflow was Rs 1.4 million.

DFCC Bank has launched a holiday card campaign offering cardholders up to 60% savings at retailers and an extended 0% Easy Payment Plan for up to 48 months, and introduced eco-friendly rPVC cards with a tactile notch for accessibility. Lanka IOC Mastercard holders continue to get up to 5% cashback this season.

Colombo Stock Exchange closed higher as the ASPI rose 0.67% to 14,614.30 on turnover of 6.01 billion, with banking stocks rallying and foreign investors net buyers of LKR 100.7 million; top contributors included HNB, DIMO, CFIN and CTC.

Colombo Stock Exchange closed higher — ASPI +0.11% at 14,516.46 and S&P SL20 +0.80% at 4,384.75, with turnover of 6.35 billion. Top contributors included John Keells, Commercial Bank, NDB, Cargills and Lanka IOC; net foreign inflow was Rs 336 million and there was notable activity in banking, consumer and hotel stocks.

DFCC Bank launched debit and credit cards made from 85% and 100% recycled PVC (rPVC), respectively. The cards include a tactile notch for visually impaired customers and form part of DFCC's broader sustainability strategy, including renewable-energy financing and Green Bonds.

DFCC Bank said Wasantha Batagoda, the LOLC Group nominee, will resign from its board on December 19; LOLC Holdings divested a 9.73% stake in DFCC last month for 3.5 billion rupees.

DFCC Bank launched debit and credit cards made from 85% and 100% recycled PVC respectively and added a tactile notch for visually impaired customers, aiming to reduce plastic use and support its sustainability strategy.

ICMA Australia held its 6th Graduation Ceremony in Colombo where 225 graduates received the Certified Management Accountant (Australia) designation. DFCC Bank PLC chairman J Durairatnam and Hatton National Bank PLC chairman Nihal Jayawardene were inducted as Foundation Members.

DFCC Bank will be the Title Sponsor of the International Faldo Junior Golf Tournament & Pro-Am 2025 at Royal Colombo Golf Club (Jan 7-9, 2025), with a Pro-Am on Jan 5 for DFCC Pinnacle customers. The event is Sri Lanka’s first Faldo Series stop and is WAGR-accredited, offering international exposure for juniors.

DFCC Bank says its leasing arm will provide tailored leasing solutions to tourism operators after the government's limited vehicle-import permits for buses and vans. The bank positions itself to support fleet modernization and serve larger tourism corporates with flexible financing.

Colombo Stock Exchange closed up with the ASPI hitting a historic peak, rising 0.35% to 13,559 while the S&P SL20 gained 0.91% to 4,053 on turnover of Rs4.4bn, led by capital goods and banks; market participants noted bullish interest in banking, diversified financial, construction and tourism sectors.

Colombo Stock Exchange closed higher as the ASPI hit an all-time high, up 1.29% to 13,511 and the S&P SL20 rose 1.90% to 4,016 on turnover of Rs5.2bn. Banks and bluechips led gains (Commercial Bank, Sampath, John Keells, DFCC, NDB, Lion Brewery) amid bullish flows and nearing debt restructuring.

Colombo Stock Exchange ASPI rose 0.30% to 13,228 on turnover of Rs2.3bn, led by retail buying in food, beverage & tobacco and renewed interest in construction. Notable movers included gains in Lion Brewery, Ceylon Cold Stores, Distilleries, Access Engineering and Central Finance, while Sierra Cables fell; net foreign outflow was Rs379mn.

DFCC Bank partnered with Durdans Hospital on October 16, 2024 to provide free breast cancer screenings, live-streamed webinars and personalised care for its female employees under the DFCC Aloka initiative.

Ambeon Capital (TAP.N0000) hosted nearly 30 German fund managers on a four-day fact-finding visit to assess listings, private equity and FDI opportunities in Sri Lanka. The €27bn-AUM delegation met the Central Bank governor and is focusing on banking (Ambeon holds 9% in DFCC and Seylan), tourism and IT.

Colombo bourse rose with the ASPI up 0.9% (115 pts) and turnover jumping to Rs.5.1bn, boosted by crossings and heavy banking-sector activity. Top contributors included Sampath Bank, Commercial Bank, John Keells, Hemas and NDB, with a net foreign outflow of Rs.246.3m.

Ambeon Holdings acquired a 7.63% stake in Seylan Bank for Rs.1.4 billion, following Ambeon Capital's purchase of 9% of DFCC Bank for Rs.3.3 billion. The piece also notes Ambeon holds a 22.4% stake in Dankotuwa Porcelain and has links to Colombo City Holdings and MillenniumIT.

Ambeon Holdings acquired a 7.63% stake in Seylan Bank PLC for LKR 1.4bn; Ambeon Capital and its subsidiaries also bought 9.02% of DFCC Bank PLC. The transactions expand the Ambeon Group's strategic holdings in the banking sector.

Colombo Stock Exchange closed higher as ASPI rose 0.88% to 13,164 and the S&P SL20 gained 1.06% to 3,917, with turnover Rs5bn and Rs2.7bn in banking stocks. The banking sector drew local investor interest after the government set a deadline for the ISB exchange, with Sampath Bank among top turnover names.

Bank-led rally lifted the ASPI 0.66% as the banking sector drove 63% of turnover with top contributors including Sampath Bank, Hatton National Bank, Richard Pieris, Dipped Products and DFCC. Turnover was Rs.3.6bn and there was a net foreign outflow of Rs.119.7m.

Colombo Stock Exchange closed higher, ASPI +0.66% to 13,049 and S&P SL20 +0.85% to 3,876, led by banking stocks with Rs2.2bn of turnover. Top contributors included Sampath, HNB, Commercial Bank, DFCC and Dipped Products; NDB's Rs5bn debenture was oversubscribed and Softlogic Life declared a Rs4.5 cash dividend; net foreign inflow was Rs95mn.

The Local Consortium of Sri Lanka, holding about 12% of outstanding ISBs, has committed to participate in the government's $12.55bn ISB Exchange Offer and Consent Solicitation. Members (including Commercial Bank, DFCC, HNB, NDB, Nations Trust, Pan Asia and Seylan) will take part in the Local Option.

Members of the Local Consortium of Sri Lanka, including several domestic banks, committed to participate in the government's exchange of US$12.55bn of defaulted international sovereign bonds; local holders own about 12% and a local‑option offers instruments denominated in LKR and USD.

A local consortium of eleven banks and financial institutions, including Commercial Bank, HNB, DFCC, NDB, Nations Trust, Pan Asia and Seylan, committed to participate in the Government's exchange offer to restructure US$12.55bn of ISBs; the consortium holds ~12% of outstanding ISBs.

DFCC Bank has partnered with Hayleys Solar to offer DFCC Solar Loans at a fixed 11.50% interest for five years, with loan tenures extendable up to 10 years to finance solar installations. The program aims to improve accessibility for residential and business customers and support renewable energy adoption.

LOLC Holdings said it divested 42.1 million DFCC Bank shares (9.73% of ordinary voting shares) via its sub-subsidiary for Rs3.5 billion, at Rs85.00 per share. LOLC stock was trading at 448.00 and DFCC at 86.20.