Business
BOC’s National Rating upgraded two notches by Fitch
Bank of Ceylon’s (BOC) National Long-Term Rating has been upgraded to ‘AA-(lka)’ from ‘A(lka)’ by Fitch Ratings (Fitch) in their latest rating review.
According to the latest announcement made by Fitch upgrading BOC’s national ratings, the National Rating upgrade is driven by the upgrade of the sovereign’s Long-Term Local Currency Issuer Default Rating and the recalibration of the national rating scale.
Fitch has highlighted that the BOC’s national rating upgrade reflects the relative creditworthiness of BOC to other Sri Lankan issuers.
Fitch has further stated that the sovereign’s credit profile improvement has alleviated sovereign-related stresses on the Bank’s operating environment as well as on financial and non-financial factors, due to the strong link between the sovereign’s financial health and the Bank’s credit profile.
Moreover, in Fitch recent international ratings review, Fitch has upgraded BOC’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) to ‘CCC+’ from ‘CCC-’, the Viability Rating (VR) to ‘ccc+’ from ‘ccc-’ and affirmed Short-Term IDR at ‘C’.
BOC, being the No. 1 Bank in Sri Lankan Banking industry, its commitment goes beyond mere financial transactions and extends to building lasting relationships, fostering financial empowerment and steering the economic growth.
Envisioning to be “Nation’s preferred financial partner” for customers and by offering innovative financial solutions and unwavering support for economic stability and growth over eight decades as “Bankers to the Nation”, BOC has continuously interacted with individuals from diverse roots in Sri Lanka, demonstrating a steadfast commitment to generate value for all stakeholders.
With an extensive footprint comprising of a network of over 2,200 direct customer touchpoints, including fully-equipped and mobile branches, SME centers, ATMs and CRMs island-wide, the Bank promotes financial inclusion across the country. The Bank also has overseas presence in Chennai, Maldives, and Seychelles, a limited services branch in Hulhumale and operates a fully-owned subsidiary in London, United Kingdom.
BOC being listed among the Top 1000 World Banks and awarded the prestigious ‘Bank of the Year – Sri Lanka’ award for 2024 by ‘The Banker Magazine’ are testimonial for its commitment to fortify financial stability and to energize economic growth. These accolades highlight BOC’s role as the trusted partner for its stakeholders and dedication to drive economic prosperity in Sri Lanka.
Business
APHNH aims to make Sri Lanka more competitive for healthcare investment
Sri Lanka private healthcare leaders recently pledged an action plan with timelines to address the practical priorities of Sri Lanka’s healthcare sector while making it more viable for local and foreign investments.
The Association of Private Hospitals and Nursing Homes (APHNH) has committed to converting recommendations from its first Healthcare Leadership Summit into a trackable outcome document with defined actions, responsibilities, and timelines, marking a shift from discussion to implementation in sector reform efforts.
The summit held on March 9 at Waters Edge, Colombo, brought together hospital leaders, policymakers, regulators, insurers, and international experts to address practical priorities for Sri Lanka’s healthcare sector.
A key outcome of the summit was APHNH’s plan to consolidate recommendations into a single, trackable charter that will outline specific actions, assign responsibilities, establish timelines, and provide periodic progress updates.
“Our objective is to bring the right decision-makers into one room and focus on what can be implemented, not only what can be discussed, ” said Raveen Wickremesinghe, President of APHNH. “We are committed to taking the inputs from today and converting them into a clear, trackable set of actions that strengthens quality, transparency and public confidence, while supporting national health priorities. “
The summit featured insights from Dr. Hafeez Rahman Padiyath, Dr. Hamdani Anver, and Chandana L. Aluthgama on scaling quality and operational discipline. A keynote and fireside discussion with Dr. Paiboon Eksangsri, President of the Private Hospital Association of Thailand, explored lessons from Thailand’s private healthcare development and conditions for making Sri Lanka more competitive for healthcare investment.
By Sanath Nanayakkare
Business
Atlas SipSavi Naththal Poronduwa records positive public participation, benefiting 10,000 students
Atlas, Sri Lanka’s No. 1 learning brand, successfully concluded Atlas SipSavi Naththal Poronduwa, a national initiative that saw strong public participation in supporting children at risk of dropping out of school due to financial hardship. At a time when more than 22,000 Sri Lankan children leave school each year due to rising economic challenges, the initiative reinforced Atlas Sipsavi’s long-standing ‘No Child Left Behind’ promise by turning seasonal generosity into meaningful educational support.
The initiative reached 10,000 students, with beneficiary schools carefully selected to ensure support reached those most in need. The collected books were distributed to children at risk of dropping out, including those whose education had been disrupted by recent adverse weather, ensuring students had essential learning resources at the start of the new school term. Through its flagship Atlas SipSavi programme, the brand focused on improving access to education by providing essential learning tools, scholarships, and infrastructure to create better learning environments, bringing its purpose of ‘making learning fun’ to life in a meaningful way. As part of the initiative, the public was invited to donate schoolbooks, with each contribution matched one-for-one by Atlas. Donation boxes were placed at all Keells outlets island-wide and at Sarvodaya District Offices, making it easy for communities to take part.
Business
John Keells Logistics expands strategic engagement with CWIT through inter-terminal transport operations
John Keells Logistics (Pvt) Ltd (JKLL), one of Sri Lanka’s leading third-party logistics solutions providers, has successfully expanded its operational engagement with Colombo West International Terminal (Private) Limited (CWIT), through inter-terminal transport services within the Port of Colombo. This enhanced engagement further strengthens CWIT’s efforts to improve operational efficiency, reliability, and scalability across terminal activities.
Inter-terminal transport plays a critical role in modern port operations, requiring high levels of coordination, precision, and operational discipline. JKLL’s appointment for ITT operations reflects CWIT’s confidence in the company’s demonstrated capabilities in managing complex transport operations within a high-throughput port environment.
The ITT operations are underpinned by JKLL’s technology-enabled logistics framework, incorporating real-time fleet tracking, performance monitoring systems, and data-driven operational planning. These capabilities provide enhanced visibility and control over transport movements, while ensuring compliance with established safety, productivity, and service quality standards.
The awarding of this engagement to JKLL is a testament to the successful implementation of the Inter-Terminal Vehicle (ITV) operations undertaken by John Keells Logistics at CWIT during the previous year. The ITV assignment was executed through structured operating procedures and disciplined service delivery, contributing to improved cargo movement, operational coordination, and service continuity within the terminal. The performance outcomes of the ITV operations provided the basis for the subsequent expansion of the partnership into ITT services.
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