Notable
A budget for 2024 set aside 1.5-pct of GDP in allocations for possible bank recapitalization
Licensed banks have to set up BRUs by mid-May 2024 and fully comply with the guidelines by July 01
People's Bank is the second largest state bank by assets
BRUs will help guide and strengthen small and medium enterprises
Sri Lanka Savings Bank staff will be offered a voluntary retirement scheme,
The banking regulations remains to be approved by parliament
Framework to be developed to strengthen governance of state banks, requiring their Boards to have independent members
The Banking (Amendment) Bill is expected to be passed in Parliament in early 2024
Investors who have applied up to 20,000,000 Type A Debentures will be allotted 100% of debentures applied
Issue of 50,000,000 Basel III complaint Tier 2 listed rated unsecured subordinated redeemable debentures oversubscribed
Says banks will end up restricting credit
Sections of Act should be revised to extend monitoring, identifying new business opportunities, developing enterprise
In September the central bank was hit by large losses
Bank of Ceylon plans to issue BASEL III compliant debentures with non-viability write down features, to raise 5bn rupees
The CBSL is committed to eliminating the interest rate caps as soon as possible
The World Bank will provide 150 million US dollars as a loan for Sri Lanka's deposit insurance scheme
| Latest | Last | |
|---|---|---|
| US Dollar | 305.1018 | 305.3339 |
| UK Pound | 386.9523 | 387.2371 |
| Euro | 330.8712 | 332.1141 |
| Aus Dollar | 201.0018 | 201.4980 |
| Yen | 2.0266 | 2.0278 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 3.6453 | 3.5932 |
| Korea Won | 0.2342 | 0.2292 |
| Oman Rial | 780.3569 | 769.4973 |
| Saudi Riyal | 80.1114 | 78.9849 |
| UAE Dirham | 81.7952 | 80.6569 |
| pts | % | |
|---|---|---|
| S&P SL20 | 2,573.80 | 1.00% |
| CSE All Share | 9,073.41 | 0.65% |
| Turnover Rs million | 1,591,766,524.95 | 1,029,335,694.32 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 21.72 | 21.79 |
| 6-m bill | 19.55 | 20.31 |
| 12-m bill | 17.72 | 19.28 |
| 5-yr bond | 21.00 | 22.53 |
| 8-yr bond | 19.42 | 20.55 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 13.93 | 14.00 |
| Gilt Repo | 13.50 | 14.00 |
| I-m SLIBOR | - | - |
Banks have seen a sharp reversal in net foreign assets over the past year
We are an outlier in the region also. So we have to fix at some point. The question is should we fix it now?
Hotels, transport and arts and entertainment sectors had bad loans of 30 to 20 percent
Pending possible recapitalization for losses from state enterprise funding, while confirming a long-term rating at 'CC'
NPLs of pawning loans are lower than others, but the number has risen
Strengthening the Deposit Insurance Scheme will help protect the savings of smaller depositors
Although there are about 11,000 microfinance institutions operating in the country, only 5 of them have been registered
With the latest expansion, SBI will have seven branches in Sri Lanka
Bank increases provisions for ISBs
we want to also look at the possibility of Union Bank's expansion to markets such as Africa, Nepal and Bhutan
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