News & market updates

The Islamic Finance Forum of South Asia celebrated its 10th edition and presented awards to 20 institutions across 30 categories; NDB won Deal of the Year (Gold) and, with Vidullanka, received a First Listed Sukuk award (Silver), Seylan Bank won Deal of the Year Silver for a 10MW solar project, and L B Finance won ESG and digital product awards.

The Colombo bourse closed the four-day week higher as the ASPI rose 1.01% (223.83 pts) to 22,318.72 and the S&P SL20 gained 0.62% to 6,226.03, with weekly turnover of Rs.8.45bn and foreign net outflows of Rs.265.1m. JKH, HNB, LFIN, COMB and PKME were top positive contributors, while CFVF rose on a cash dividend announcement and ACL saw higher participation after a share subdivision.

L B Finance PLC has received Central Bank approval to raise up to Rs.20 billion via listed, rated, unsecured redeemable debentures in senior and subordinated tranches (with oversubscription options); listing on the Colombo Stock Exchange is subject to exchange approvals.

L B Finance PLC will raise up to Rs20 billion by issuing 100 million senior and 100 million subordinated debentures of Rs100 each, the company said in a stock exchange filing. It has received central bank approval and proposes to list the debentures on the Colombo Stock Exchange, with oversubscription options for additional tranches.

Sri Lanka's All Share Price Index rose 0.31% to 22,163.23 while the S&P SL20 gained 0.07% to 6,191.54. Top contributors were Lion Brewery, Aitken Spence, Melstacorp, Ceylon Beverage and Sampath Bank; L B Finance filed to raise up to Rs20bn via senior and subordinated debentures.

L B Finance PLC appointed microfinance specialist Ravi Tissera as an Executive Director. He is founder CEO of LOLC Microcredit, ex-CEO of Early Dawn Microfinance (Myanmar) and has previously held board roles at HNB Finance and Seylan Bank.

LB Finance's Islamic finance arm LB Al-Salamah won multiple awards at the 10th IFFSA Awards 2025, including Gold for ESG, Silver for Digital Product/Fintech, Gold Rising Star (Ahsan Munaf) and a 15th-year industry recognition.

Colombo stock market opened the week higher as the ASPI rose 0.36% (77.31 pts) to 21,676.20, led by plantation counters and conglomerates; turnover was about Rs.4.2bn and foreigners were net sellers of Rs.15.6m.

L B Finance (LFIN.N0000) will acquire a 65.6% stake in Associated Motor Finance (AMF.N0000) for Rs. 3.7 billion; the Central Bank has directed the merger be completed by 31 March 2027.

L B Finance PLC will acquire a 65.6% stake in Associated Motor Finance PLC for Rs. 3.7 billion (74.3m shares at Rs.50 each) after CBSL approval, with amalgamation required by March 31, 2027. LB Finance confirmed the board decision; AMF said its deputy chairman has agreed to divest.

Colombo market rose after the Central Bank left policy rates unchanged, with ASPI up 0.26% (56 points) to 21,338 and turnover at Rs.5.6bn. Top positive contributors were CINS, LFIN, HAYL, CFIN and COMB; foreign investors were net sellers of Rs.118.3m.

Colombo Stock Exchange ASPI rose 0.26% to 21,338.45, led by financials and capital goods, with Ceylinco Holdings, L B Finance, Hayleys, Central Finance and Commercial Bank among the top contributors.

Sri Lanka Tourism Development Authority (SLTDA) has joined GovPay, enabling tourism operators to pay the Tourism Development Levy and other SLTDA services online via banks' internet/mobile banking and connected FinTech apps. The initial rollout covers TDL payments with phased expansion planned.

SLTDA has joined GovPay, enabling Tourism Development Levy and other SLTDA payments to be made online via 14 banks and six FinTech apps (including major local banks and L B Finance's CIM). GovPay, launched Feb 2025, has processed 1,773 services totalling over Rs.110 Mn and will expand to more SLTDA payments.

Colombo Stock Exchange closed higher as the ASPI rose 1.30% to 20,619 with turnover of Rs 6.21bn, led by gains in banks and capital goods. Key risers included Commercial Bank, Sampath Bank, HNB, Aitken Spence, DFCC and active trading in Sierra Cables.

Areva Investments marked its 10th anniversary on 18 September, saying it has facilitated over Rs.81 billion in short-term funding and structured private debt deals for clients including L B Finance, Vallibel Finance, Browns Investments and Bogawantalawa Tea Estates.

S&P SL20 crossed 6,000 for the first time, rising 58.46 points (0.97%) to close at 6,055.92; the ASPI also hit a record 20,571.07 (up 100.55 points, 0.49%) with turnover over Rs.10.8 billion.

Brand Finance published Sri Lanka's 100 Most Valuable Brands for 2025, ranking Bank of Ceylon top with a brand value of Rs.57,411m; Commercial Bank, Dialog and People’s Bank follow the top positions. The list covers firms across banking, telecoms, FMCG, healthcare, hospitality and other sectors.

Colombo market opened higher as the ASPI rose 0.26% (50 points) to close at 19,518, with turnover around Rs. 6.16 billion. Foreign investors were net buyers (Rs. 30.2m) and gains were led by Royal Ceramics, Melstacorp, Hemas, L B Finance and C T Holdings, with Capital Goods, Banking and Diversified Financials driving turnover.

Colombo's ASPI rose 0.26% (50.15 pts) to 19,517.86, led by gains in capital goods stocks including Royal Ceramics (RCL.N0000), Melstacorp (MELS.N0000), Hemas (HHL.N0000), L B Finance (LFIN.N0000) and C T Holdings (CTHR.N0000). Turnover increased to 6.1 billion rupees.

ASPI fell 30 points to 17,997 as turnover hit Rs.7.63 billion, led by large crossings in LOLC Finance, L B Finance and Sampath Bank. Top turnover contributors included LOFC, JKH, Central Finance, Panasian Power and Sampath Bank, while foreign investors were net sellers of Rs.3.4bn.

ASPI crossed 18,000 to close at 18,026 as both indices rose about 7% for June, with turnover of Rs. 6.38bn led by LFIN, AEL, JKH, CFIN and SAMP.

Colombo market rallied as the ASPI rose 2% (a 344-point gain) to 17,536 and the S&P SL20 gained 1.66%, with turnover near Rs.6 billion. Capital Goods, Banking and Diversified Financials led activity; several listed names including John Keells, HNB Finance and Pan Asia saw strong participation and price gains.

Colombo market rebounded after a ceasefire between Israel and Iran, with the ASPI up 2.5% (426 pts) and turnover Rs.5.2bn. Banking stocks and conglomerates led gains, with JKH, COMB, PABC and CFIN among the top contributors.

L B Finance PLC appointed Niroshan Udage as Managing Director effective 1 July 2025, succeeding Sumith Adhihetty who retires on 30 June. Udage has been with LB Finance since 2004 (Deputy MD since 8 March 2021) and the board expressed full confidence in his leadership.