Economic

Hatton National Bank (HNB PLC) continued to demonstrate resilience amidst volatile conditions, posting a Profit Before Tax (PBT) of Rs 10.9 Bn and a Profit After Tax (PAT) of Rs 9.1 Bn. The Group profits also improved in line, with PBT and PAT at Rs 12 Bn and Rs 9.8 Bn respectively.

National ratings on Sri Lankan banks remain constrained by the sovereign credit profile (CCC), Fitch Ratings said yesterday.

The Central Bank (CB) said this week it had streamlined the complaint handling procedure in addition to launching a hotline for public inquiries.

Abans PLC has reported a commendable performance in Q1 FY22 despite the pandemic-induced economic slow-down intensified by a month-long island wide lockdown. Abans generated revenue of Rs. 10.6 billion in Q1 FY22 against Rs. 6.7 billion in Q1 of previous year.

The Central Bank said yesterday that workers’ remittances declined in June 2021 year-on-year though they were up in the first half in comparison to the corresponding period of last year.

The latest Sri Lanka Development Bonds (SLDBs) issue worth $ 75 million has gone undersubscribed once again.

The country’s manufacturing and services sectors expanded in July according to the Purchasing Managers’ Index (PMI) compiled by the Central Bank.

Sri Lanka’s trade deficit in the first half has widened by over $ 1 billion to $ 4.3 billion from a year earlier on account of rising imports, though exports have performed commendably.

The Export Development Board (EDB) raised concerns on the shortage of containers as a result of multiple global supply chain bottlenecks.

Sampath Bank on Friday said it has posted a profit after tax (PAT) of Rs. 7 billion for the first half of 2021, against Rs. 3.9 billion for the same period in 2020.

In a bid to overcome the LP gas crisis, the Government has decided to establish a new firm affiliated to the State-run Ceylon Petroleum Cooperation (CPC).

The Government yesterday announced several tough and difficult measures aimed at keeping the cost of living under check from a sharper rise amidst mounting pressure.

The Government is facilitating the import of gold for “genuine” export-oriented jewellery manufacturers whilst continuing with the licencing scheme for others, it has been revealed.

The Colombo stock market yesterday suffered one of its steepest falls in recent weeks despite healthy turnover.

282 partially or fully-owned SEOs crippled as a result of non-operation due to COVID-19

2021 ජුලි මාසය අවසන් වනවිට ශ්‍රී ලංකා මහබැංකුව සතු විදේශ විනිමය සංචිතය ඇමරිකානු ඩොලර් මිලියන 2364.6ක් දක්වා පහළ බැස ඇති බව වාර්තා වේ.

Industry giant State-owned Bank of Ceylon (BOC) yesterday formally announced stellar financial results for the first half, which have overtaken the performance of 2020 full year, reinforcing that the slew of recent measures amidst challenges had paid off.

The Colombo stock market yesterday marked four consecutive sessions of net foreign inflow, a development that has lifted sentiments of investors and brokers alike.