News & market updates

Commercial Bank (COMB.N0000) now lets Premium/Platinum credit and Elite debit cardholders convert Max Loyalty Rewards points into airline miles with SriLankan Airlines and other carriers at a promotional rate of 6 points = 1 FlySmiLes mile through 31 Dec 2026, via its existing digital platform.

Nations Trust Bank’s proposed LKR15 billion Basel III-compliant subordinated debentures were assigned a final National Long-Term Rating of 'BBB+(lka)' by Fitch; the bank intends to use proceeds to strengthen Tier-2 capital, support loan-book expansion and reduce maturity mismatches.

Nations Trust Bank renewed its partnership with the Wildlife and Nature Protection Society to continue sponsoring the WNPS monthly public lecture series on biodiversity and sustainability. The next lecture on 18 June will feature Dr. Prabath Jayasinghe presenting findings from the 30-day Nansen research voyage.

National Development Bank PLC suffered an internal Rs. 13.2 billion fraud that went undetected, prompting a parliamentary probe that blamed Central Bank oversight failures and drew IMF demands for regulatory and AML/CFT reforms. The Central Bank has retained Deloitte India for a forensic audit with an interim report due in two weeks and a final report by July 18.

John Keells Holdings (JKH) posted Group EBITDA of Rs.80.01 billion for FY2025/26, up 75%. Recurring profit attributable rose 155% to Rs.13.24 billion; group units Nations Trust Bank (NTB) and Union Assurance (UAL) also reported improved results, with NTB completing the HSBC Sri Lanka retail acquisition.

John Keells Holdings reported FY2025/26 Group EBITDA of Rs.80.01bn (up 75%), recurring PBT of Rs.35.72bn (up 143%) and recurring profit attributable of Rs.13.24bn, and declared a final interim dividend of 10 cents to bring FY26 total to 30 cents (Rs.4.42bn). The group cited broad-based contributions from Retail, Transportation and Leisure, and noted improved performance at NTB and double-digit premium growth at Union Assurance.

Nations Trust Bank (NTB.N0000) has partnered with David Pieris Automobiles to offer flexible vehicle financing for BAIC and GWM models, using its Consumer and Corporate Banking divisions to streamline and expand customer access to auto loans.

US dollar selling rates at commercial banks eased below Rs.340 today (22) after peaking at Rs.354 on 21st. Quoted afternoon selling rates included Commercial Bank Rs.342.50, HNB Rs.340.00, Sampath Rs.340.50 and Nations Trust Rs.336.49.

Sri Lankan rupee weakened further, with commercial bank TT rates at Rs. 332.09/342.70 and spot trading around Rs. 329.25–330.25, extending depreciation amid strong dollar demand, higher fuel import costs and Middle East tensions.

The Ceylon Chamber of Commerce will host the Sri Lanka Climate Summit 2026 on 9 June 2026 at Taj Samudra, shifting focus to implementation, technical readiness and climate-linked finance. Platinum sponsors include Commercial Bank and Dilmah Tea; strategic sponsors include Nestlé Lanka, Cargills and Colombo Stock Exchange.

National Development Bank is facing allegations of a Rs. 13.2 billion fraud, prompting scrutiny of its audits, governance and supervisory oversight. A shareholder has filed derivative proceedings and commentators are calling for action from auditing and oversight bodies.

Nations Trust Bank (NTB.N0000) reported 1Q PAT of Rs. 4.6 billion, up 12% YoY, with EPS Rs. 13.72, loan growth of Rs. 41.3 billion (10% YoY) and NIM of 5.66%. NTB completed transfer of HSBC's Sri Lanka retail portfolio (~230,000 accounts, 343 staff) on 1 May 2026; Tier-1 17.31%.

Sri Lanka's Colombo Stock Exchange closed flat on Friday, with the ASPI up 0.03% at 22,905; Amana Bank said KPMG will replace Ernst & Young as its auditors. Capital goods led turnover and the week ended with mixed movers including Hayleys, Commercial Bank and several financial stocks down.

Nations Trust Bank (NTB.N0000) reported 1Q FY2026 PAT of LKR 4.6Bn (up 12% YoY) and completed the transfer of HSBC Sri Lanka’s retail portfolio—about 230,000 accounts and 343 staff—on 1 May 2026. NIM was 5.66%, EPS rose to LKR 13.72, and Tier 1 and total capital ratios were 17.31% and 18.41% respectively.

Nations Trust Bank (NTB) will host the Nations Trust Golf Championship 2026 at the Royal Colombo Golf Club on 22–23 May, introducing three shotgun starts for the first time and expecting over 345 players. The tournament is part of NTB's partnership with RCGC and will run annually through 2028.

Colombo Stock Exchange closed marginally higher, ASPI up 0.02% at 23,015.32 with turnover of Rs.3.66 billion. Real estate and transportation led turnover (Rs.495.2m and Rs.485.2m) and Abans Finance listed Rs.1.34bn five-year debentures; its shares rose 3.47%.

Colombo Stock Exchange was flat at midday: ASPI up 0.01% to 23,065 while banks led turnover at Rs.2.85 billion. Top movers included CDB (+4.65%), JKH (+0.49%), HHL (+1.21%) and NTB (+1.08%), while HAYL, COMB and DFCC fell.

Opposition MP Faiszer Musthapha urged urgent action on widening financial security risks after a $2.5m Treasury phishing scam and a Rs.13.2bn theft linked to National Development Bank. He called for stronger cybersecurity, accountability and stricter bank supervision to protect investor confidence.

Nations Trust Bank (NTB.N0000) absorbed Rs. 36.6bn in assets and Rs. 142.8bn in liabilities from HSBC Sri Lanka’s retail portfolio — including Rs. 31.1bn loans and Rs. 133.1bn deposits — strengthening NTB’s liquidity and funding base.

Daraz Sri Lanka launched its 5.5 Best Price Sale (4 May 8 PM–9 May), offering up to 65% off, Rs. 50 million in vouchers, free delivery and partner discounts including 20% offers from Commercial Bank and Nations Trust Bank.

Nations Trust Bank completed the acquisition of HSBC Sri Lanka’s retail banking business effective May 1, adding about 200,000 retail customer accounts and seven branches to its network.

Nations Trust Bank (NTB) completed the transfer of HSBC Sri Lanka’s retail banking portfolio effective 1 May 2026, acquiring the business for Rs. 18 billion and adding about 200,000 retail customer accounts. The integration includes onboarding HSBC staff, seven added branches (network now 96) and continued digital and branch support for customers.

Nations Trust Bank (NTB) completed the transfer of HSBC Sri Lanka’s retail banking business effective 1 May 2026, bringing ~200,000 retail customer accounts and adding seven branches to expand NTB’s network to 96 branches.

Colombo Stock Exchange rose with the ASPI up 0.47% and banks leading turnover at Rs.467 million. Nations Trust Bank completed the transfer of HSBC Sri Lanka's retail banking (effective May 1), Beruwala Resorts will close May 1–Aug 30 for refurbishment, and Sampath Bank appointed an independent director.

Sampath Bank PLC launched a fully integrated AI-driven lending ecosystem on its Vishwa platform, enabling instant, paper-light loan approvals and faster SME and leasing credit decisions. The system uses automated assessments and external credit insights to speed approvals and reduce documentation requirements.

Colombo Stock Exchange closed up, ASPI +0.07% to 22,635, with diversified financials leading turnover (Rs 1.98bn) helped by the debut of Janashakthi; total market turnover was Rs 4.19bn.

Colombo Stock Exchange closed flat as the ASPI rose 0.03% to 22,620.15. Top positive contributors were Commercial Bank, John Keells and ACL Cables while DFCC and Central Finance lagged; Janashakthi (JXG) is set to start trading on April 29 with 2.3 billion shares.

Nations Trust Bank will take over HSBC's Sri Lanka retail banking operations and the Rs.18 billion portfolio effective 1 May, with services expected to resume from midday 2 May after a system migration blackout. HSBC will suspend various services from 24 April and fully cut access from 7 p.m. on 30 April.

John Keells Hotels' City of Dreams Sri Lanka will host the West End–licensed musical La Bamba at The Forum from 24–27 April; Nations Trust Bank cardholders receive a 15% early-bird ticket discount.