News & market updates

PM Modi urged Indians to curb fuel use, revive working-from-home, pause gold purchases and cut overseas travel to conserve foreign exchange as global oil prices rose (Brent $105.33/bbl, WTI $99.85/bbl) amid Iran war-driven Middle East tensions.

Asia Asset Finance PLC reported profit before tax of LKR 1.9261 billion for FY2025/26, up 203% year-on-year. Net profit was LKR 1,038.4m, total assets rose to LKR 53.78bn, net NPAs improved to 2.37% and Tier-1 CAR stood at 24.57%.

Siyapatha Finance PLC, a fully owned subsidiary of Sampath Bank (SAMP.N0000), opened its 62nd branch in Horana, expanding its islandwide network to 62 branches. The branch will offer leasing, fixed deposits, gold financing, loans and digital bill payments; Siyapatha holds a Fitch National Long-Term Rating of A(lka) (Stable).

Sampath Bank's wholly owned subsidiary Siyapatha Finance opened a new branch in Horana, expanding its islandwide network to 62 branches. The Horana branch will offer leasing, fixed deposits, gold financing, business loans and bill-payment services.

LCB Finance PLC marked its 10th anniversary and said it targets an asset base of Rs. 20 billion by 31 March 2027, after reporting total assets of Rs. 12,756 million and a net profit of Rs. 315 million for the year to 31 March 2026.

Asian stocks jumped to record highs (MSCI Asia-Pacific ex-Japan +2.3%) as AI-driven buying and signs of progress toward a U.S.-Iran agreement boosted risk appetite; Brent crude fell about 1.2% to $108.51/bbl. Tech and semiconductors led gains while the dollar eased.

Gold rose 0.5% to $4,543.33 per oz after a prior five-week low, with US futures up 0.4%; gains were capped as a crude oil rebound pushed Treasury yields and the dollar higher, reviving inflation concerns and weighing on bullion.

Bank of Ceylon opened its Badalgama branch, expanding its network to over 660 branches and more than 2,400 customer service centres. The branch offers retail deposits, loans, remittance and pawning services and complements the bank’s digital offerings such as the BOC Flex mobile app and online banking.

LCB Finance PLC relocated its Galle branch to newly upgraded owned premises on Wakwella Road, commencing operations on April 21 as it marks its 10th anniversary. The company, now with 23 branches islandwide, said the move will improve services for Gold Loans, Leasing and Personal Loans and support MSMEs.

Asia shares were mixed while oil rose over 1% as Middle East tensions and stalled U.S.-Iran talks kept markets on edge; Brent hit $106.21/bbl and U.S. crude $96.77. Investors also eyed central bank decisions next week and a yen near 159.78 per dollar.

U.S. stocks retreated as Mideast tensions sent oil up about 5% to $88.21/bbl (Brent $94.86), while 10-year Treasury yields ticked higher and the dollar eased.

Global equities rebounded after Israel signalled it would begin talks with Lebanon, easing regional tensions; US crude retreated from highs to $97.71/bbl and Brent to $95.50/bbl. Treasury yields fell, the dollar weakened and gold rose 1.63% to $4,793.07/oz.

Author urges Sri Lanka to expand QR digital payments and deepen economic cooperation with China (including Belt & Road) to bolster economic stability amid energy-market shocks from US–Iran tensions and shifting global currency/gold dynamics.

Sri Lanka's official reserve assets fell 3.5% to US$7,019 million at end-March 2026 from US$7,270 million at end-February; foreign currency reserves dropped 3.8% to US$6,793 million while gold reserves rose 10.8% to US$222 million.

Global equity markets traded cautiously as Brent crude held near $110/bbl amid heightened Middle East tensions and a US deadline, supporting the dollar and reducing expectations of Fed rate cuts this year.

Siyapatha Finance, a fully owned subsidiary of Sampath Bank (SAMP.N0000), reported PBT of Rs. 2,660 million for the year to 31 Dec 2025 (up 26%) and PAT of Rs. 1,556 million (up 29%). Total assets rose to Rs. 84,740 million, gold loans jumped 63%, and Fitch rated it A(lka) Stable.

Global oil prices jumped—Brent rose 7.78% to $109.03/bbl and U.S. crude surged 11.41% to $111.54—after U.S. President Donald Trump warned of intensified action against Iran. Equities traded mixed amid volatile flows, bond yields climbed on higher rate expectations and gold fell as the dollar strengthened.

Siyapatha Finance PLC posted profit before tax of Rs. 2,660 million for the year ended 31 Dec 2025, up 26% year-on-year. Profit after tax rose 29% to Rs. 1,556 million; net interest income increased to Rs. 5,561 million, total assets reached Rs. 84,740 million with a 63% rise in the gold loan segment.

Gold fell about 1.3% to $4,694.48/oz after President Trump said the U.S. would continue the war in Iran, reversing a four-day rally; U.S. gold futures slid 1.9% to $4,723.70. Brent oil rose more than 4% and U.S. Treasury yields and the dollar advanced, weighing on bullion.

Assetline Insurance Brokers Ltd (AIBL), a subsidiary of the David Pieris Group, will serve as the exclusive insurance service provider for Life Vision Credit and Investment Ltd, taking over management of LVC’s comprehensive insurance portfolio. The partnership aims to streamline insurance processes, offer competitive premiums and provide advisory services to mitigate corporate and credit-related risks.

Lakderana Investments Ltd celebrated its 20th anniversary, noting growth to 32 branches, over 300 employees, a BB (Stable) credit rating and rapid expansion into gold loan services.

Assetline Insurance Brokers (AIBL), a David Pieris Group subsidiary, has signed a strategic partnership to become the exclusive insurance service provider for Life Vision Credit & Investment, managing LVC’s insurance portfolio and providing risk management, premiums and advisory services.

Asian stocks slumped as Brent crude rose 3% to $115.98, bringing monthly gains near 60% and raising inflation and recession risks. Markets have priced in higher Fed tightening and sovereign yields have jumped, pressuring energy, manufacturing, logistics, retail and financial sectors.

Vallibel Finance announced a Rs. 2.12 billion rights issue of 29,431,675 shares at Rs. 72 each (1-for-8), approved at an EGM, to bolster Tier-1 capital and fund expansion including digital transformation and branch growth as it targets a Rs. 200 billion asset base.

Cargills Bank has launched its 2026 "Avurudu WasiLitha" New Year campaign, offering cardholders discounts up to 50% across more than 100 merchants and promoting its Tapit contactless payment sticker. The promotion covers clothing, jewellery, restaurants, homecare and e-commerce and applies across its card suite.

Gold held steady at $4,503.29/oz as investors awaited clearer signs on Middle East ceasefire talks; crude oil rose above $100/bbl and markets have priced out Fed easing this year.

Asian stocks struggled as Middle East ceasefire talks and widening conflict sent Brent crude to $103.35/bbl, stoking a surge in oil prices. The move lifted the dollar, pushed out expectations of Fed rate cuts and left MSCI Asia ex-Japan lower amid heightened market caution.

Global stock markets rose after oil dipped and reports the US sent a 15-point peace framework for Iran, with Japan's Nikkei +2.9%, Hong Kong's Hang Seng ~+1% and major US/European indices around +1–1.4%. Gold has fallen about 13% to roughly $4,550 from a January peak above $5,000.

Mahindra Ideal Finance Ltd's debut LKR 1,000 million Tier-2 debenture issue was oversubscribed on day one. The five-year issue (maturing 2031) includes Type A fixed 12.00% and Type B floating (364-day T-bill + 3.50%) tranches, with proceeds to expand lending and strengthen Tier-2 capital.

Mahindra Ideal Finance's Rs. 1 billion debut debenture issue was oversubscribed on day one. The five-year Tier 2 offering maturing in 2031 includes Type A fixed at 12.00% and Type B at 364‑day T‑bill + 3.50%, with proceeds to boost lending capacity and Tier 2 capital.