Company filings and market news from across Sri Lanka's stock market.
National Development Bank PLC (NDB) held a Thai Pongal celebration at its Head Office in Colombo on January 20 organised by the NDB Staff Recreation Club, bringing staff and families together. The note also highlights NDB as the fourth-largest listed commercial bank, parent of the NDB Group, and recent industry awards.
National Development Bank PLC (NDB) hosted an Exporter’s Forum on 24 January in Ja-Ela to discuss support for Sri Lankan exporters. NDB outlined trade finance, transactional and digital banking, treasury services and SME-to-exporter capacity-building initiatives, with an EDB keynote on export policy.
Fitch upgraded People’s Bank’s National Long-Term Rating to 'AA-(lka)' from 'A (lka)' after a recalibration following Sri Lanka's sovereign upgrade. The upgrade highlights the bank’s strengthened credit profile and could bolster sentiment across Sri Lankan banks.
Visa forecasts Sri Lanka's digital payments market at $9.98bn in 2024, growing at a 14.49% CAGR to exceed $17bn by 2028. Visa highlighted a 35% surge in debit-card use during the last Avurudu, expansion of tap-to-pay and wearables, and a partnership with Hatton National Bank for a festive campaign.
Fitch upgraded the national long-term ratings of 10 Sri Lankan banks and affirmed five after recalibrating the national rating scale following a sovereign upgrade; upgrades include COMB, HNB, SAMP, SEYB, DFCC, NDB, NTB and PABC, while HDFC and SDB were affirmed. Fitch cited the sovereign IDR improvement as the driver.
Sri Lanka's ASPI fell 0.64% to 16,917.86 in a market correction as SL20 dropped 1.23% and turnover was Rs 7.4bn. Banks led the pullback (HNB -4.0%, NDB -1.34%, DFCC -1.5%, Seylan -0.5%) while Browns Investments, Sierra Cables, John Keells and RIL were among the most active stocks.
NDB Bank launched TradeLinc, an in-house digital supply-chain finance platform offering 24/7 real-time funding and liquidity solutions for corporates and SMEs; the platform has received a National Best Quality Software Award.
NDB (NDB.N0000) launched TradeLinc, an internally developed digital supply-chain finance platform providing real-time funding and data-sharing to improve SME liquidity and supply chain visibility.
Sri Lanka's ASPI rose 1.17% to 17,025.99 as stocks closed up 1.1%, led by gains in HNB, Central Finance, Hayleys, SFCL and LOLC-group names. Turnover was Rs 9.7bn with a net domestic inflow of Rs 565m, while some banks (Sampath, NDB, DFCC) fell.
Fitch upgraded the national long-term ratings of 10 Sri Lankan banks and affirmed five after recalibrating the national rating scale following a sovereign upgrade; most outlooks remain Stable. Union Bank and Cargills Bank carry Negative Outlooks due to capital-buffer and parent-support risks.
Fitch upgraded the national long-term ratings of 10 Sri Lankan banks and affirmed five after recalibrating the national rating scale following Sri Lanka's sovereign upgrade on 20 December 2024.
Colombo Stock Exchange rose as banking stocks led gains after Fitch upgraded several Sri Lankan banks; the ASPI closed up 1.40% at 16,828.80. Turnover was LKR 10.66bn with a net domestic inflow of LKR 670m and a net foreign outflow of LKR 670m; notable movers included HNB, NDB, Browns and Ceylon Tobacco.
ASPI rose 224 points to 16,597 and the S&P SL20 closed at 5,047 as the Colombo market hit new highs on Rs.8.3bn turnover led by banking stocks, with Commercial Bank, HNB, DFCC, NDB and Sampath among the top contributors.
Colombo market opened bullish as the ASPI rose ~115 points (0.71%) to 16,373 on turnover of Rs.5.5bn. Banking and Capital Goods led activity with DFCC, HNB, NDB, Teejay Lanka, Sierra Cables, CIC and Ceylon Cold Stores among top contributors.
Colombo Stock Exchange rose with the ASPI up 1.31% (224.01 pts to 16,597.16) and S&P SL20 up 1.72% (85.42 pts to 5,047.45), driven by banking stocks and strong retail turnover. Top turnover generators included Commercial Bank, HNB, DFCC, NDB and Sampath Bank, with a net foreign outflow of Rs 279 million.
AIA Insurance celebrated 20 years of bancassurance with a gala event at Cinnamon Life and previewed a publication, 'In Pursuit of Perfection.' The company thanked exclusive bank partners — NDB, DFCC Bank and Commercial Bank — and aims to increase life and health insurance penetration in 2025.
Colombo Stock Exchange closed higher as ASPI rose 0.71% to 16,373.15, led by banks and capital goods stocks. Heavy volumes included Sierra Cables, Teejay Lanka and LOLC Finance, with Teejay Lanka, NDB, DFCC and Ceylon Cold Stores among top contributors.
ASPI closed up 0.26% at 16,257.31 as the Colombo bourse ended higher despite a net foreign outflow of 221 million rupees. Banks and consumer names drew interest; top foreign selling hit John Keells while DFCC, Dipped Products, Hemas and Commercial Bank were among top contributors.
C.W. Mackie PLC appointed Indrajit Asela Wickramasinghe and Shrihan Blaise Perera as Independent Non-Executive Directors effective 30 December 2024. Wickramasinghe is the former CEO of Union Bank and Perera holds board/audit committee roles at Teejay Lanka and has senior FMCG experience.
Colombo market opened the holidays-shortened week higher as the ASPI rose 1.4% and the S&P SL20 rose 2% on turnover of Rs.4.4bn, supported by lower T-bill yields and strong banking and blue‑chip buying (notable contributors: SAMP, DFCC, NDB, HNB, COMB, JKH).
Colombo Stock Exchange rose as the ASPI closed up 1.42% at 16,152.35 and the S&P SL20 gained 2.02% to 4,905.19. Buying was concentrated in large-cap bluechips and banks, with DFCC, Sampath, NDB, HNB and Commercial Bank among top contributors.
NDB Bank launched its 2025 Calendar, 'Fold to Unfold a Sustainable Future', featuring an AI-powered Calendar Pal that provides origami instructions via QR codes and links each creation to the UN Sustainable Development Goals. The bank held a launch event at its Head Office with workshops and community activities.
National Development Bank PLC (NDB) won Euromoney’s Best Bank for Diversity and Inclusion award 2024. The bank also holds EDGE certification and runs initiatives like Fearlessly Female and the Banking on Women platform to promote gender equity and support women customers.
Colombo Stock Exchange rose on Jan 8 with the ASPI up 0.63% to 15,954.01 and the S&P SL20 up 0.57%, led by gains in banks; turnover was 5.23 billion rupees. Sampath, NTB, NDB, L B Finance and Commercial Bank all posted gains as investors shifted from fixed-income after higher withholding tax on interest.
Colombo Stock Exchange fell for a third straight day as the ASPI closed down 0.15% at 15,854.64 amid heavy profit-taking, with turnover of 4.5 billion rupees. Banks HNB, NTB and NDB and other contributors Central Finance, Hemas and Lion Brewery were among the top decliners.
Colombo bourse fell with the ASPI down 1.06% and S&P SL20 down 1.14%, while net foreign inflow was Rs. 188.1 million. Banking led turnover (25%) and several stocks (SAMP, COMB, CINS, RICH, NDB) were top negative contributors; JKH, HHL and BIL recorded small gains.
Vindhya Jayasekera was appointed Chief Executive Officer Designate of the Colombo Stock Exchange, effective 1 January 2025, with current CEO Rajeeva Bandaranaike due to retire during 2025 after 11 years. Jayasekera was previously Chief Investment Officer at NDB Wealth Management, overseeing over Rs 380 billion AUM.
Colombo Stock Exchange ended 2024 higher, with the ASPI up 0.74% at 15,944.61 and the S&P SL20 up 1.01% at 4,862.10. Turnover was Rs7.7bn, banks/diversified financials and capital goods drew the most interest, and there was a net foreign inflow of Rs129mn.
Colombo Stock Exchange closed at a record high, with the ASPI up 1.88% to 15,827.39 and the S&P SL20 up 3.14%, led by bank and financial stocks including HNB, NDB, Sampath, DFCC and CTC. Declining interest rates and expectations of foreign inflows were cited as drivers.