DFCC Bank has been rated among the top 100 most valuable consumer brands in Sri Lanka for the year 2021. Ranking 27th in the analysis conducted by Brand Finance Sri Lanka, DFCC Bank was able to climb up a notch to the 27th position, following last year’s position as the 28th most valuable consumer brand in the country.
This is an indication of DFCC Bank’s stellar performance, despite the raging pandemic which upset the progress of numerous businesses both locally and globally. DFCC Bank was able to successfully strategize and make the best of the unfortunate scenario, which is now reflected in this in-depth analysis conducted by Brand Finance Sri Lanka.
Brand Finance is the world’s leading independent brand valuation consultancy. Brand Finance was set up in 1996 with the aim of ‘bridging the gap between marketing and finance’. For more than 20 years, the institution has helped companies and organisations of all types to connect their brands to the bottom line.
Voicing his thoughts on this achievement, DFCC Bank CEO Lakshman Silva said, “DFCC Bank has gone through brand transformations over the years. Often, this is a challenge for institutions to endure as public perception of the brand will change, sometimes resulting in the identity of the brand becoming unclear. However, throughout our transformation from a development bank to a Bank for Everyone, we have managed to keep the public and our customers well informed of who we are and what we stand for as a brand. This achievement is certainly a reflection of our strife in this regard,”
DFCC Bank’s Head of Marketing Nilmini Gunaratne also added, “DFCC’s brand value and strength are extremely useful measures for tracking our brand performance. As a strong brand, we have been resilient in the face of these trying times and have withstood the uncertainties of this period with great confidence. We will continue to increase the strength of our brand so that DFCC Bank will be able to create even more value for its customers,”
Given the current pandemic situation, DFCC has been able to build brand awareness by conducting a series of ethical campaigns which address the concerns of the hour due to the ongoing pandemic. One such example is a campaign which supported the Central Bank of Sri Lanka’s ‘Go Cashless’ campaign. Further, DFCC Bank’s Virtual Wallet campaign informed the public that physical contact with cash is not required to carry out day-to-day financial transactions which also re-emphasised the need to adapt to digital platforms for transactions and contactless banking.
U.S. confident SL would ensure required facilitation for U.S. investors
Sri Lankan government has pledged to address the pending policy issues and I am confident that once the pandemic subsides, concrete efforts will begin to improve ease of doing business and ensure the required facilitation for US investors, Martin Kelly, Charge d’ Affairs of the Embassy of the United States of America in Sri Lanka said recently speaking at the Sri Lanka Invest Forum 2021 held virtually through June 7-9, 2021
“Sri Lanka was among the first countries in the region to open its economy and offers the highest standards of living among other advanced indicators in South Asia. Over the last seventeen years, the country continued to transition from an agriculture commodity based economy to become world leader in textile and apparel, a major exporter of IT and communication related services and of course a world class destination for international tourists,” he said.
“Promoting trade and investment opportunities is one of the embassy’s top priorities, and a vital component of our efforts to encourage private sector led development and toward stronger ties between the two countries,” he said.
Kelly said that the government of Sri Lanka has promoted pro-business policies including tax benefits, to attract the U.S. and other foreign direct investments.
ComBank donates ICU beds to Kegalle Teaching Hospital
Commercial Bank Chairman Justice K. Sripavan and Managing Director S. Renganathan with representatives of the Bank and the Kegalle Hospital
The Commercial Bank of Ceylon has donated three Intensive Care Unit (ICU) beds to the Teaching Hospital Kegalle, which receives over 80,000 admissions and 350,000 clinic visits, annually. The donation was made following a request from the hospital and will help it to provide seamless healthcare services to prevent non-pandemic related morbidities and mortalities while also treating patients who are COVID-19 positive.
The CSR Trust of the Bank has already gifted medical equipment and gear including Personal Protection Equipment (PPE) kits, face masks, surgical masks, hand sanitisers, Slit lamps, pulse oximeters, multipara monitors and oxygen concentrators to over 16 government hospitals. Commercial Bank also made a monetary donation to the National COVID-19 Healthcare and Social Security Fund set up by the government last year.
Trading activity gets slower among retail investors
Lankem Ceylon Rights Issue undersubscribed.
By Hiran H.Senewiratne
Stock trading at the Colombo Stock Exchange (CSE) was marginally positive yesterday and the number of retail investor participation was lower compared to previous trading days. Index heavy LOLC group which accounted for more than 30 percent of the turnover, contributed 20 points to the All Share Price Index, stock market analysts said.
Both indices moved upwards. All Share Price Index was up by 35.75 points and S&P SL20 up by 2.01 points. Turnover stood at Rs 1.74 billion sans a single crossing. In the retail market top six companies that mainly contributed to the turnover were LOLC Rs 510 million (1.28 million shares traded), Expolanka Holdings Rs 197 million (4.1 million shares traded), Melstacorp Rs 137 million (2.6 million shares traded), Browns Investments Rs 71.5 million (11.3 million shares traded), Windforce Rs 68.2 million (3.5 million shares traded) and Hayleys Holdings Rs 54.8 million (730,000 shares traded).
Index heavy LOLC, which contributed 20 points to the All Share Price Index, appreciated its share price by Rs 18.75 or 4.85 percent. Its share price started trading at Rs 386.25 and at the end of the day it moved up to Rs 405.
A pioneer in renewable energy, Vidullanka PLC has successfully completed raising additional capital of Rs. 253 million to fuel its expansion drive in the solar power sphere.
Lankem Ceylon Plc, Rs. 677 million worth Rights Issue has been undersubscribed. When the issue closed the Company managed to draw only subscriptions for 17.6 million shares worth Rs. 352.3 million. The original plan was to issue 33.85 million shares at Rs. 20 each aiming at raising Rs. 677 million. The basis was one new ordinary share for every one share held. Funds were to be raised to augment working capital requirements.
During the day 67.9 million share volumes changed hands in 17564 share transactions.
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