News & market updates

HNB General Insurance won three awards at the SLIM National Sales Awards 2024. Awards included a Gold in Territory Manager and a Silver in National Sales Manager, recognising the insurer's sales leadership, team performance and use of innovative technologies.

Colombo Stock Exchange closed higher: ASPI rose 2.08% to 14,500 and S&P SL20 rose 2.48% to 4,349 on Dec 16, 2024, with turnover of 8.2 billion. Top turnover generators included Ceylinco, John Keells, Sampath, HNB and Pan Asia; banking stocks rose after the ISB announcement and net foreign inflow was Rs 100 million.

Colombo Stock Exchange ASPI crossed 14,500, closing at 14,500.44 (+295.10 pts, +2.08%) with turnover of Rs.8.27 billion; top contributors were Ceylinco Holdings (Rs.1.19bn), John Keells (Rs.532m), Sampath Bank (Rs.442m) and Hatton National Bank (Rs.395m).

Colombo stock market extended its bull run as the ASPI rose about 4% for the week (closing at 14,205) on high turnover (avg Rs.5.66bn), led by heavy trading and price gains in Hemas, HNB, Lanka Milk Foods, John Keells and Alumex.

Colombo Stock Exchange ASPI hit a record high, closing at 14,205.34 after rising 169.53 points. The S&P SL20 rose 57.99 to 4,244.45 on turnover of Rs. 6.14 billion, with top contributors including Hemas, Hatton National Bank, Lanka Milk Foods, John Keells and Alumex.

Colombo Stock Exchange closed higher: ASPI rose 1.21% to 14,205 and the S&P SL20 gained 1.39% to 4,244. Top contributors included Ceylinco Holdings, Melstacorp, HNB, Central Finance and Sampath; turnover was 6.1 billion with a foreign net inflow of 126 million rupees.

HNB PLC won four awards at the 23rd SLIM Brand Excellence Awards 2024, including Brand of the Year (Service Category) – Silver, Local Brand of the Year – Bronze, Gold for SLIM Agile Brand (HNB Youth) and Bronze for Agile Brand (HNB Investment Plans).

Colombo Stock Exchange's ASPI hit a record 14,035, up 1.09% (150.72 pts) on Dec 12. Investors were upbeat ahead of the ISB bid deadline, with top contributors Ceylon Beverage, Hatton National Bank, Sampath Bank, John Keells and Commercial Bank and a foreign net inflow of 306 million rupees.

Hatton National Bank (HNB) won four awards at the 23rd SLIM Brand Excellence Awards 2024, including Silver Brand of the Year (Service Category) and Gold SLIM Agile Brand of the Year for HNB Youth.

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.

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.

HNB PLC launched festive cardholder offers including discounts up to 70% and a grand raffle awarding one fully paid 'Anthem of the Seas' cruise for two. Promotions cover 300+ merchants (including Keells, Cargills, Softlogic); raffle entry requires LKR 100,000 spend and interest-free instalments with waived fees until Dec 31, 2024.

Colombo bourse ended the week mixed: ASPI rose 24 points (+0.19%) while the S&P SL20 fell over 12 points (-0.3%) on Rs.3.7bn turnover and a net foreign outflow of Rs.381.9m. Key contributors included AHUN, LLUB, SAMP and BIL, with consumer services leading turnover and banks and hotels drawing investor interest.

HNB PLC has partnered with the Old Boys’ Union of St. Joseph’s College Colombo 10 to launch an exclusive affinity credit card for members; the bank will waive the first-year annual fee and provide a complimentary supplementary card. The card includes merchant benefits, 12-month 0% interest school-fee plans and a donation share to the union.

Hatton National Bank won the Association of Professional Bankers' annual interbank quiz in Anuradhapura; Seylan Bank and Commercial Bank (B Team) finished as first and second runners-up respectively.

HNB PLC has partnered with the St. Joseph’s College Colombo-10 Old Boys’ Union to launch an exclusive affinity credit card for members. The card waives the first-year annual fee, includes a complimentary supplementary card, offers 0% 12-month school-fee instalments, merchant benefits and donates a percentage of proceeds to the union.

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.

Commercial Bank of Ceylon (COMB.N0000) signed a bancassurance MoU with HNB General Insurance to offer HNBGI's general insurance products to Commercial Bank's 3.5 million customers via its 270 branches. HNBGI is part of HNB Assurance PLC within the HNB Group.

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.

Colombo bourse rebounded as the S&P SL20 rose 1.3% and the ASPI gained 0.7% on Rs.1.1bn turnover. Banking led turnover (34%) with Sampath and Commercial Bank among top contributors, capital goods and retail sectors were active, and net foreign outflow was Rs.134m.

APB hosted a CPDC session where NCGIL CEO Jude Fernando outlined a proposed credit guarantee scheme to improve MSME access to finance and lower lending risks for banks.

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.

Colombo Stock Exchange ASPI rose 0.76% to 12,964 and S&P SL20 rose 1.51% to 3,852, with turnover Rs1.1bn. Banking (Rs383mn) and capital goods (Rs312mn) led activity; top gainers included John Keells Holdings, Hatton National Bank, Commercial Bank, Sampath Bank and Ceylon Tobacco.

Commercial Bank (COMB.N0000) signed a bancassurance partnership with HNB General Insurance to give the bank’s 3.5 million customers access to HNBGI’s general insurance products. The tie-up was formalized in a ceremonial signing and aims to expand insurance distribution and customer convenience.

Colombo bourse opened lower as the ASPI fell 1.4% to 12,867 and the S&P SL20 dropped 1.9%; turnover was Rs.2.1 billion and foreign investors were net sellers of Rs.143 million.

Colombo Stock Exchange closed lower with the ASPI down 1.44% (187.62 pts) to 12,866 and the S&P SL20 down 1.98% to 3,794 on turnover of Rs2.1bn and net foreign outflows of Rs142mn. Top negative contributors included John Keells Hotels, Hatton National Bank, Commercial Bank and Melstacorp, with banks driving significant turnover.

HNB PLC appointed Damith Pallewatte as Managing Director/CEO effective 22 November 2024. He served as Acting CEO since April, under whose leadership HNB reported Rs 38.7Bn PBT for the nine months of FY24 and outlined priorities including MSME revival, trade/export facilitation and digital banking.