Company filings and market news from across Sri Lanka's stock market.
Siyapatha Finance PLC reported H1 2024 PAT of Rs.513 million, a 189% y/y increase, and PBT of Rs.1,215 million (up 133%). NII rose 70% to Rs.2,078 million, NPAs improved and Tier-1/Total CARs were 16.43%/19.42%, above regulatory minima.
People’s Leasing & Finance PLC launched the GoldCash card, available from 1 October, a revolving gold-backed loan card that lets customers borrow, repay and reborrow against gold through a digital, paperless platform. Features include automatic renewal with on-time interest payments, flexible repayments and mobile app access.
People’s Leasing & Finance PLC launches the GoldCash Card, a paperless revolving gold-loan card available to customers from October 1. The product offers a revolving loan facility with flexible repayments, automatic renewal for timely interest payments, and digital access via card and mobile app.
President Ranil Wickremesinghe pledged to continue strengthening the Sri Lankan rupee if re-elected to reduce the cost of living, saying past rupee appreciation lowered fuel prices and supported economic recovery; the central bank allowed the rupee to appreciate to around 300/USD under a deflationary policy.
Fitch affirmed UB Finance PLC's national long-term rating at 'BB(lka)' but revised the outlook to Negative. Fitch cited UBF's weak financial profile—poor asset quality, weak earnings, thin capital buffers and deposit concentration—and linked the outlook to parent Union Bank of Colombo PLC's Negative outlook.
Fitch revised the Outlook on UB Finance PLC (UBF) to Negative and affirmed its National Long-Term Rating at 'BB(lka)'. The change reflects a similar Outlook downgrade for its parent, Union Bank of Colombo PLC (UBC), which owns 89.9% and provided a June 2024 capital infusion.
Commercial Bank of Ceylon opened a new full-service branch in Ward No 1, Puthukkudiyiruppu (Mullaitivu), offering operations, credit, pawning and equipped with an ATM and a cash recycler for 24/7 access.
Commercial Bank of Ceylon (COMB.N0000) opened a new full-service branch in Puthukkudiyiruppu, Mullaitivu offering operations, credit and pawning services and equipped with an ATM and Cash Recycler Machine for 24/7 access.
The Sri Lanka Gem and Jewellery Association asked main presidential candidates to back a plan to make Sri Lanka the 'Sapphire Capital', targeting 80% of global sapphires processed in Sri Lanka and over half of world sapphire jewellery manufactured there. It proposed four priorities: supply development, manufacturing development, market development and investment promotion, with measures on mining, licensing, tax incentives, training, technology, FTAs and a dedicated free trade zone.
Fitch affirmed Housing Development Finance Corporation Bank of Sri Lanka's National Long-Term Rating at 'BB+(lka)' with a stable outlook. Fitch cited weak sovereign exposure and concentrated retail housing lending, noting impaired loans of 44.7% and government securities ~26% of assets at 1H24.
People’s Leasing & Finance PLC’s Islamic finance unit PLC Al-Safa won three awards at the SLIBFI Awards 2023/24, including a Gold Award for Transformative Leadership (Fazmil Mowlana), Bronze for Islamic Finance Entity of the Year, and a Merit Award for its Wadi’ah Gold Safekeeping product.
HNB FINANCE PLC opened three new Gold Loan Units in Galgamuwa, Kekirawa and Mahiyanganaya to offer its Gold Loan, Gold Plan and VIP Gold Loan products to local customers.
DFCC Bank says it optimised treasury and investment strategy amid Sri Lanka’s recovery, investing heavily in government securities (≈30% returns) and US Treasuries while keeping NSFR/LCR well above regulatory minima. Treasuries are now a main contributor to profitability as loan growth remains weak.
Vallibel Finance (VFIN.N0000) opened three new branches in Medawachchiya, Battaramulla and Nittambuwa to expand its network and improve customer access; the openings were attended by MD Jayantha Rangamuwa.
L B Finance (LFIN.N0000) launched 'Al-Wadi’ah LB Gold Safekeeping', offering secure gold storage and an interest-free cash advance of up to 80% of the certificate value. The Sharia-compliant service is available across branches with Takaful insurance and competitive safekeeping charges.
Fitch affirmed Hayleys PLC's 'AAA(lka)' rating with a Stable outlook, citing expected ~7% revenue growth in FY25 driven by defensive segments (hand protection, agriculture, purification), strong export diversification and resilient manufacturing footprint.
Siyapatha Finance PLC, the largest fully owned subsidiary of Sampath Bank, opened its 50th branch in Valaichchenai. The expansion broadens Siyapatha's islandwide network, includes CSR donations and digital services, and supports access to its lending and deposit products in the region.
Siyapatha Finance PLC opened its 50th branch in Valaichchenai. The company offers leasing, deposits, gold financing and other retail finance products and extended its CSR 'Siyapathen Mihikathata' with donations to a local school.
Union Bank reported 1H2024 profit after tax of Rs. 72 million and 19% growth in loans to Rs. 73,977 million as of 30 June 2024. Total assets rose 3% to Rs. 142,755 million, deposits increased 12% to Rs. 98,642 million and the total capital ratio was 16.16%.