News & market updates

Hatton National Bank PLC has completed full acquisition of Acuity Partners and rebranded it as HNB Investment Bank. Acuity’s group includes a primary dealer, a CSE stockbroker and LVL/LVEF entities; HNB says the move expands its investment-banking services and will leverage digital capabilities.

Colombo's ASPI rebounded, rising over 50 points (0.3%) after a prior Rs.188 billion drop, with bargain buying lifting the market and the banking sector leading turnover. Sampath, DFCC, Seylan, C T Holdings and John Keells were top positive contributors while Ceylinco and Aitken Spence weighed on the index.

Lindel Industrial Laboratories (LILL), a subsidiary of Lanka Industrial Estates, received SLAB accreditation for fertiliser and fuel analysis. The announcement notes DFCC Bank's continued partnership with LINDEL in supporting the privately managed industrial estate.

Hatton National Bank (HNB.N0000) bought the remaining 50% stake in Acuity Partners from DFCC Bank for Rs.6.5 billion and rebranded it as HNB Investment Bank. The unit will integrate stockbroking, securities and investment banking, push digital services, launch sector-specific funds and target FDIs including Colombo Port City.

Sri Lanka stocks closed 0.6% higher, with the ASPI up 0.57% to 16,550.63, led by capital goods. Banks, construction and food & beverage shares saw notable investor interest; turnover was Rs 5.18bn and there was a net foreign outflow of Rs 126m.

DFCC Bank sold its 50% stake in Acuity Partners (transaction valued at Rs. 6.5 billion) and Fitch says the disposal should boost DFCC’s bank-level CET1 by ~100bp but have negligible group-level impact and is unlikely to change its national rating. Fitch also expects a modest reduction in DFCC group earnings (APL averaged ~7% of operating profit) and limited impact on HNB’s capital and profitability.

DFCC Bank sold its 50% stake in Acuity Partners for LKR6.5 billion; Fitch says the disposal will boost DFCC's bank-level CET1 by about 100bp but have negligible group-level impact and will not affect its national rating. Fitch also said the sale will modestly reduce group earnings and flagged DFCC's weak capital buffer and high residual credit risk from NPLs.

DFCC Bank sold its 50% stake in Acuity Partners for LKR6.5bn; Fitch estimates the disposal will boost DFCC’s bank-level CET1 by about 100bp but have negligible group-level impact and is unlikely to affect its national rating. APL had contributed ~7% of DFCC’s operating profit, so group profitability will be modestly lower.

Sri Lanka's ASPI closed up 0.04% (7.52 pts) at 17,122.73 despite month-end selling, with turnover Rs 5.1bn and a net domestic inflow of Rs 405m (foreign outflow Rs 405m). Banking, diversified counters and capital goods drew interest; notable movers included LOFC +2.9%, CFIN +3.2%, TJL +3.8% and TAP +7.0%.

Colombo Stock Exchange closed broadly flat with the ASPI down 0.01% at 17,115 and the S&P SL20 flat at 5,126; turnover was 7.3 billion. Top positive contributors included NDB (128.25), Co-operative Insurance (3.70), Access Engineering (42.00) and DFCC (129.50).

Colombo bourse closed marginally lower: ASPI down 0.02% at 17,117.18 and S&P SL20 down 0.65% at 5,126.31, turnover Rs8.4bn and net foreign outflow Rs923.9m. Buying interest returned to banks and finance stocks after vehicle import relaxation, and construction names such as Access Engineering saw inflows.

DFCC Bank won three awards at the Global Banking and Finance Awards 2024: Banking Brand of the Year Sri Lanka, Best Bank for Sustainable Development Sri Lanka, and Fastest Growing Retail Bank Sri Lanka. The recognitions highlight its sustainability leadership (GCF accreditation, renewable project financing) and retail digital growth (DFCC Virtual Wallet, eKYC).

Sri Lanka's ASPI rose 0.75% to 17,044.67, led by gains in capital goods and power/energy with top contributors including Lanka IOC, Melstacorp and Bukit Darah. Turnover was 5.9 billion rupees, with a net domestic inflow of 492 million and a net foreign outflow of 492 million rupees.

DFCC Bank will reimburse LKR 2,000 of the transaction fee for remittances sent via Lanka Money Transfer to DFCC accounts (minimum LKR 50,000) during a promotion running until 31 January 2025. Customers are eligible for two monthly reimbursements and the top remitter wins a return air ticket.

DFCC Bank will reimburse Rs. 2,000 of the transaction fee for remittances to DFCC accounts via Lanka Money Transfer for transfers of at least Rs. 50,000 until 31 January. Customers are eligible for up to two reimbursed monthly transactions, rewards credited the following month, and the top remitter wins a return air ticket.

Fitch upgraded the national long-term ratings of 10 Sri Lankan banks and affirmed five after recalibrating the national rating scale following a sovereign upgrade; upgrades include COMB, HNB, SAMP, SEYB, DFCC, NDB, NTB and PABC, while HDFC and SDB were affirmed. Fitch cited the sovereign IDR improvement as the driver.

Sri Lanka's ASPI fell 0.64% to 16,917.86 in a market correction as SL20 dropped 1.23% and turnover was Rs 7.4bn. Banks led the pullback (HNB -4.0%, NDB -1.34%, DFCC -1.5%, Seylan -0.5%) while Browns Investments, Sierra Cables, John Keells and RIL were among the most active stocks.

Sri Lanka's ASPI rose 1.17% to 17,025.99 as stocks closed up 1.1%, led by gains in HNB, Central Finance, Hayleys, SFCL and LOLC-group names. Turnover was Rs 9.7bn with a net domestic inflow of Rs 565m, while some banks (Sampath, NDB, DFCC) fell.

The WCIC Prathibhabhisheka Women Entrepreneur Awards 2024 was held on 7 Jan 2025 to honour women entrepreneurs across Sri Lanka and the SAARC region, naming Dr. Dilesha Perera (Dilchand) Woman Entrepreneur of the Year and multiple category winners. Event partners included Hayleys PLC and DFCC Bank.

DFCC Bank has enabled UnionPay International card acceptance across its ATM and CRM network via the LankaPay network, expanding payment acceptance for tourists and international visitors and building on earlier IPG and POS integrations.

Fitch upgraded the national long-term ratings of 10 Sri Lankan banks and affirmed five after recalibrating the national rating scale following a sovereign upgrade; most outlooks remain Stable. Union Bank and Cargills Bank carry Negative Outlooks due to capital-buffer and parent-support risks.

Fitch upgraded the national long-term ratings of 10 Sri Lankan banks and affirmed five after recalibrating the national rating scale following Sri Lanka's sovereign upgrade on 20 December 2024.

DFCC Bank sold its 50% stake (75,500,001 shares) in Acuity Partners to Hatton National Bank for Rs. 6.5 billion, leaving DFCC with no holding. The SEC approved the transaction and Acuity Partners is now a fully owned subsidiary of HNB.

Colombo Stock Exchange rose as banking stocks led gains after Fitch upgraded several Sri Lankan banks; the ASPI closed up 1.40% at 16,828.80. Turnover was LKR 10.66bn with a net domestic inflow of LKR 670m and a net foreign outflow of LKR 670m; notable movers included HNB, NDB, Browns and Ceylon Tobacco.

ASPI rose 224 points to 16,597 and the S&P SL20 closed at 5,047 as the Colombo market hit new highs on Rs.8.3bn turnover led by banking stocks, with Commercial Bank, HNB, DFCC, NDB and Sampath among the top contributors.

Colombo market opened bullish as the ASPI rose ~115 points (0.71%) to 16,373 on turnover of Rs.5.5bn. Banking and Capital Goods led activity with DFCC, HNB, NDB, Teejay Lanka, Sierra Cables, CIC and Ceylon Cold Stores among top contributors.

Colombo Stock Exchange rose with the ASPI up 1.31% (224.01 pts to 16,597.16) and S&P SL20 up 1.72% (85.42 pts to 5,047.45), driven by banking stocks and strong retail turnover. Top turnover generators included Commercial Bank, HNB, DFCC, NDB and Sampath Bank, with a net foreign outflow of Rs 279 million.

AIA Insurance celebrated 20 years of bancassurance with a gala event at Cinnamon Life and previewed a publication, 'In Pursuit of Perfection.' The company thanked exclusive bank partners — NDB, DFCC Bank and Commercial Bank — and aims to increase life and health insurance penetration in 2025.