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Fitch rates first Sri Lanka Basel III sub debt; Sampath final ‘A(lka)’



Fitch Ratings has assigned Sampath Bank PLC's (A+(lka)/Negative) proposed Basel III-compliant subordinated debentures a National Long-Term Rating of 'A(lka)'.

The final rating is the same as the expected rating assigned on 18 September 2017, and follows the receipt of documents conforming to information already received.

The notes, the first Basel III-compliant subordinated debt in Sri Lanka, will total LKR6 billion, mature in five years and carry fixed coupons. The notes include a non-viability clause, and will qualify as regulatory Tier II capital for the bank. The bank plans to use the proceeds to support its loan book expansion and to strengthen its Tier II capital base. The debentures are to be listed on the Colombo Stock Exchange.

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Leo Burnett Sri Lanka named ‘Agency of the Year’ at Effie Awards

Leo Burnett Sri Lanka, the local office of the global advertising network Leo Burnett Worldwide was recently named the ‘Agency of the Year’ at this year’s Effie Awards Programme. Leo Burnett Sri Lanka added credentials to its stand...

BOC holds practice drills at its head office building for fire safety

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The Bank of Ceylon recently conducted an emergency fire and evacuation drill at the Bank of Ceylon Head Office Building in collaboration with the Ministry of Defence, Sri Lanka Army, Sri Lanka Navy, Sri Lanka Air Force, Sri Lanka Police, Disaster Ma...

Pathfinder Foundation participates in Sagar Discourse 2017 in India

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The first ever track 1.5 discourse on the Indian Governments ambitious initiative Security and Growth for All in the Region (SAGAR) was conducted in the port city of Goa, India last week end. This event was organized by Forum for Integrated National...

Sampath Bank celebrates ‘Thrift Month’ with eco-friendly gifts

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Sampath Bank, in its continuing commitment to emphasize the importance of saving, has introduced an exciting gift promotion that will both incentivize and help depositors save money. Once again Sampath Bank is celebrating ‘Thrift Month’ ...

Make good times great this Deepavali with NDB Wealth

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While experiencing the beauty of Deepavali, the Hindu Festival of Lights, always bear in mind that planning ahead makes any of life’s milestones even better. Whether it is fixing up or decorating your home, buying new clothes for yourself and ...

Nahil Wijesuriya disposes of majority stake in East West Properties

Top businessman Nahil Wijesuriya and his family who held major stake in East West Properties PLC sold 88.35 million shares to the tune of Rs 1.1 billion  through a crossing in the Colombo Stock Exchange (CSE) yesterday.


Asia 2000 Investm...

More than 50 Combank branches open for business today

More than 50 branches of the Commercial Bank are open today for the convenience of the customers in spite of it being a bank holiday due to Deepavali festival day.


The Commercial Bank branches that operate today include the Bank’s 29 Su...

Regional campaign to end violence against children launched in Sri Lanka

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A regional campaign to end violence against children in the Asia Pacific region was launched in Sri Lanka on Oct. 16 with the Secretary to the Ministry of Child Affairs in Sri Lanka Chandrani Senarathne as Chief Guest, supported by World Vision and ...

Softlogic Life speeds up expansion, adds 5 Branches in 3Q

Further strengthening its network spread across the island, Sri Lanka's fastest growing life insurer Softlogic Life opened five branches in - Anuradhapura, Badulla, Kurunegala, Seeduwa and Weligama, during the September quarter. This brings the tot...

Shop in VIP style – one day only – shop Til U drop!

On Saturday, 21st October, Colombo VIP Night presents its second Shop Til U Drop 2017. This one day shopping extravaganza will be held at the Taj Samudra Hotel - Grand Marquee. Boasting 11 acres of beautifully landscaped gardens and nestled within 1...

 
 
 
 
 
 
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