News & market updates

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.

Seylan Bank was the Official Banking & Leasing Partner at the Colombo Motor Show 2024 (Dec 6–8), offering 24-hour Fast Track Leasing with special interest rates and a 50% rebate on processing fees, plus its Speed Drive instant cash facility.

Colombo Stock Exchange rebounded with the ASPI rising 0.63% (≈99 points) to 15,954 on turnover of Rs.5.2 billion. Key contributors included Sampath, Melstacorp, LB Finance and Commercial Bank, with the banking sector leading turnover and a net foreign outflow of Rs.229.6m.

Ambeon Holdings increased its stake in Seylan Bank to 9.43% by buying 2.5m shares at Rs.79.50–80 (Rs.200m), adding to a prior purchase of 3m shares at Rs.70 (Rs.210m) in late Dec 2024.

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.

Ambeon Holdings bought 3 million ordinary voting shares of Seylan Bank (0.98%), raising its stake to 8.61% at 70 LKR a share. The group has also acquired a 9% voting stake in DFCC Bank.

Seylan Bank launched the Ethera Kaasi Savings Account for remittance beneficiaries, openable with Rs. 3,500 and requiring a remittance within 60 days to qualify. Benefits include first-year free ATM issuance and internet banking, waiver on early settlement for pawning/gold loans, participation in rewards, and fee concessions on leasing and retirement plans.

Ambeon Holdings increased its stake in Seylan Bank by 0.98% to 8.61% after buying 3 million shares for Rs.210 million. Ambeon Capital and its subsidiaries also recently acquired a 9.02% stake in DFCC Bank.

Colombo market saw nearly Rs.10bn turnover yesterday as ASPI rose 0.8% (week +4.9%), led by banking and diversified financials; top contributors were HNB, LOLC, DFCC, RCL and MELS, with notable gains in HNB, Commercial Bank, DFCC and LOLC.

Seylan Bank (SEYB.N0000) was the title partner of the Kedalla Art of Living 2024 for the 12th year, promoting housing, personal, solar and leasing loans with special interest rates and a 50% processing fee rebate. The exhibition attracted over 12,000 visitors and the bank provided Home Loan Specialists and daily raffle draws.

Ambeon group increased its holdings in Sri Lankan banks: Ambeon Holdings raised its stake in Seylan Bank to 8.61% (up 0.98%) while Ambeon Capital and its subsidiaries acquired a 9.02% stake in DFCC Bank.

Seylan Bank launched the Ethera Kaasi Savings Account for remittance beneficiaries, openable with LKR 3,500 and offering no ATM issuance fees and free internet banking for the first year. The account also includes waivers on early settlement of pawning and gold loans, access to rewards and discounted leasing fees.

Seylan Bank acted as Title Partner at the Kedalla Art of Living 2024 for the 12th consecutive year, marketing home, solar and other loan products to over 12,000 visitors and offering special interest rates plus a 50% processing-fee rebate.

Colombo Stock Exchange closed higher as the ASPI rose 1.07% to 14,810 and turnover hit Rs9.23bn, the highest since Feb 7. Top contributors included Central Finance, Ceylon Cold Stores, Melstacorp, Access Engineering and Chevron Lubricants; net foreign outflow was Rs226m.

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 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.

Seylan Bank's Seylan Cards has partnered with FitsAir to run a Swipe and Win promo (Oct 1–Dec 31, 2024) offering six Dubai airline tickets (three monthly winners, two tickets each). Cardholders enter with minimum Rs.5,000 transactions and can convert FitsAir purchases into 12-month 0% instalments.

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.

Ambeon Holdings (GREG.N0000) bought a 7.63% stake in Seylan Bank (SEYB.N0000), acquiring 23.274 million shares at Rs.58-60 each. The filing, by parent Ambeon Capital (TAP.N0000), described the purchase as a strategic investment.

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.

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.

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.

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.

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.

The Colombo market ended the post-election week with ASPI down 1.1% for the week (S&P SL20 down 2.7%) but closed yesterday up 0.56% on below-average turnover of Rs.1.9bn. Banking stocks led turnover (Seylan, Pan Asia, Sampath, HNB) while BREW, COMB, CINS, SEYB and DIPD were top positive contributors and JKH dipped.

Phantom Investments (Rayynor Silva) bought a 9.75% stake in DFCC Bank (42.2m shares) for Rs.3.58bn at Rs.85/share. The shares were sold by LOLC Investment Holdings; Rayynor, who earlier took ~10% of Sampath Bank, said the DFCC investment is strategic and long term.