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Sri Lanka’s Financial Revival - Creating Markets That Attract, …
19 hours ago · By Jithendra Antonio Sri Lanka, emerging from economic upheaval, the nation’s capital markets hold unprecedented promise, not only for financial gains but as a catalyst for national growth, resilience, and global integration. While this potential is clear, challenges like limited liquidity, shallow market structures, and a need for …
NDB delivers solid profits amidst gradually reviving economic ...
18 hours ago · Net interest margin of 4.21%, consistently above the 4.00% mark Strong handle on costs and impairment enabling profits preservation Pre-tax profit of Rs. 9.4 Bn at Bank level Enhanced Earnings per Share of Rs. 13.69 Continued moderation in portfolio growth attuned to macro-economic conditions National Development Bank PLC (NDB) reported resilient performance for the nine...
ComBank accelerates lending in Q3 as strong fundamentals spur …
1 day ago · Loan book up by Rs 121.06 bn. in 9 months, with 44.20% of growth coming in Q3 CASA ratio improves to 39.60% at 30 th 2024 Net interest income up 46.15% to Rs 88.98 bn. Total taxes for 9 months double to Rs 27.67 bn. The Commercial Bank of Ceylon Group has achieved impressive growth at the end of the ...
Government Prioritizes Relief for Small and Medium Enterprises in …
2 days ago · Government to Compile Report on Loans Taken by Small and Medium Enterprises from Banks A special meeting was held Yesterday (11) at the Presidential Secretariat to address relief measures for Small and Medium Enterprises (SMEs) facing financial challenges. The meeting was led by the Senior Additional Secretary to …
Accelerating Digital Transformation to Drive Economic Growth
Oct 30, 2024 · • New Initiative Launched to Lower Electricity Costs – President Addresses Sri Lanka Chamber of Commerce Representatives • Chamber of Commerce Pledges Pro Bono Support for Economic Development President Anura Kumara Dissanayake announced that the entire country will undergo digital transformation within the next three years under his administration. He highlighted that digitization holds ...
Government Revenue surges by over 40% in first eight months of …
Oct 16, 2024 · The Sri Lankan government has reported a significant rise in revenue for the first eight months of 2024, with total government revenue, including grants, increasing by 40.5%. This growth amounted to Rs. 2,565.9 billion, a sharp increase from Rs. 1,826.6 billion collected during the same period in 2023. The rise was largely driven by a...
Sri Lanka's Economic Turnaround: A Beacon of Resilience and …
Jun 27, 2024 · By Jithendra Antonio In a historic address to the nation on June 26, Sri Lankan President Ranil Wickremesinghe announced the successful signing of bilateral debt restructuring agreements with the Paris Club, India, and China. This milestone marks a significant turning point in Sri Lanka’s recent history, demonstrating the effectiveness of strategic leadership, resilience, and international...
Sri Lanka’s June 2024 Exports Hit $1.03 Billion, Boosted ... - Ada …
Jul 23, 2024 · As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in June 2024 amounted to US$ 1,031.2 million, recorded an increase of 2.58% compared to the month of June 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Rubber based products, Coconut...
Business Sentiment: Index Climbs to an 11 Month High
May 31, 2024 · Business confidence spikes for a third consecutive month to nearly three digits Sri Lanka’s internal affairs are heating up with critical agreements pending regarding debt restructuring. The government however, is confident that the process will be completed in time for the release of the third IMF tranche in June. President Ranil …