Sri Lanka banks asked not to compete for deposits: CB Governor
ECONOMYNEXT – Sri Lanka’s Central Bank has asked banks not to compete with each other for deposits Central Bank Governor Nandalal Weerasinghe said, as attempts were being made to bring…
Sri Lanka doing assets quality review of banks: CB Governor
ECONOMYNEXT – Sri Lanka’s central bank is watching the asset quality of banks which are facing a number of pressures bad loans, changes in interest rates and exchange rate, Governor…
Sri Lanka’s banks may have to re-structure loans caught in progressive tax
ECONOMYNEXT – Sri Lanka’s banks should explore restructuring loans of salaried employees hit by progressive tax, Central Bank Governor Nandalal Weerasinghe said as progressive income taxes were imposed at lower…
Banks are getting pushed out of cyber insurance
The news: Banks and financial institutions face ever-evolving cyber risks, but paying for cyber insurance might not be part of their mitigation plans, per American Banker. Greatest risks to banks:…
Sri Lanka banks to be re-capitalized based on diagnostic study: Deputy Governor
ECONOMYNEXT – Sri Lanka’s banks will be re-capitalized if an ongoing study shows a need, Central Bank Deputy Governor Yvette Fernando said as lenders faced multiple shocks ranging from a…
Sri Lanka banks cut foreign borrowings, see more deposit dollarization
ECONOMYNEXT – Sri Lanka’s banks have sharply cut foreign borrowings over the past year, official data show as the country ran out of rating space after seven years of state…