Top textile manufacturer Teejay Lanka PLC has ended 2019-20 on an encouragingly strong note, despite its projected fourth quarter profit growth being eroded by production shutdowns at all plants in conformity with the lockdowns in Sri Lanka and India necessitated by the COVID-19 pandemic.
On bouncing back from a crisis
Healthy growth in business volumes and an extraordinary contribution from other income, before the slowdown attributed to the COVID-19 pandemic, have enabled the Commercial Bank of Ceylon PLC to make a steady start to 2020, despite the continuing increase in impairment charges quarter-on-quarter.
The cumulative market capitalization of automotive companies has fallen by US$564bn in the first quarter (Q1) of 2020 as the COVID-19 crisis battered the share prices across the sector, says GlobalData, a leading data and analytics company.
Singer Finance (Lanka) PLC received a strong vote of confidence from investors with its recent Listed, Rated, Unsecured, Senior, Redeemable three year and five year, Rs. 1 billion debenture issue being oversubscribed.
Mastercard has announced the appointment of Rajesh Mani as the new Country Manager for Sri Lanka & Maldives.
Sampath Bank continued to demonstrate its commitment to offer the best possible service to its customers across the Country by maintaining all essential banking services without interruption amidst curfew restrictions imposed during the COVID-19 lockdown.
People’s Bank has launched the Aswenna loan scheme, a unique product that is in line with the Government’s development programme to create a self-sufficient nation.
The Commercial Bank of Ceylon, Sri Lanka’s largest payment card issuer, has announced a new partnership with Visa, the global payments technology leader, to launch CyberSource, a global payments management platform that will further expand the array of payment services available to any merchant looking for digital payment solutions.
Understanding the unprecedented challenges the country faces from COVID-19 and the impact on all citizens, Nations Trust Bank has launched a Special Deposit Account (SDA), in support of the national effort in managing this crisis.
Sarvodaya Development Finance (SDF), a licensed Finance Company approved by the Central Bank of Sri Lanka, has come forward to assist in the battle against the COVID-19 pandemic.
