Company filings and market news from across Sri Lanka's stock market.
Sri Lanka's ASPI closed down 0.05% at 16,115.47 on mixed sentiment with thin turnover of 2.1 billion rupees. There was a net foreign outflow of 409 million rupees; top negatives included Sampath, DFCC and Commercial Bank while John Keells, Hemas and Melstacorp saw high volumes.
Sri Lanka's ASPI fell 1.84% (297.05 pts) to 15,870.25, dragged by financials with Ceylinco (-7.4%), DFCC (-5.1%), HNB (-1.8%), Sampath (-1.9%) and Commercial Bank (-1.9%). Turnover was Rs 2.3bn (banks Rs 982m) and net foreign outflow was Rs 109m.
HNB Finance Plc will raise about Rs1.19 billion through a rights issue of up to 296,120,963 ordinary voting shares at Rs3.40 each and 62,125,000 ordinary non‑voting shares at Rs3.00 each to improve capital adequacy and fund lending.
Rights issue · 5:24 at Rs 3.40 · XD Feb 25, 2025
Hatton National Bank PLC reported Group PAT of Rs 44.8 Bn (Bank PAT Rs 41.3 Bn) for 2024, up from Rs 23.6 Bn, and declared a cash dividend of Rs 15.00 per share. Asset base topped Rs 2.0 Tn, Net Stage 3 ratio improved to 1.88%, and CASA and digital fee income strengthened.
HNB Finance has partnered with Kiya.ai to implement a cloud-native digital core banking system to centralise operations and drive digitalisation, automation and improved customer service. The platform will enable AI/ML-driven services, faster onboarding and loan disbursement, and stronger operational controls.
HNB Finance PLC (HNBF) relocated and reopened its Mullaitivu branch on 23 December 2024 and launched a Gold Loan Service Centre, offering gold loan products plus leasing, deposits, savings, business and home loan services.
Budget 2025 raises Capital Gains Tax to 15% for individuals/partnerships and to 30% for other entities. HNB Stockbrokers noted the current CGT definition does not include gains from trading listed equities.
Colombo Stock Exchange closed higher, with the ASPI up 0.22% at 17,193.79 and the S&P SL20 up 0.63% at 5,139.63. Investor interest centred on banks and capital goods (notably Sampath, Commercial Bank and Hemas); Melstacorp, Distilleries, Sampath and Teejay Lanka declared cash dividends and Hemas plans a share sub-division.
HNB Finance PLC relocated its Mullaitivu branch to Main Street and opened a Gold Loan Service Center on 23 December 2024. The branch offers gold loan products (Gold Loan, Gold Plan, VIP Gold Loan) alongside leasing, deposits, savings, business and home loans with flexible repayments.
HNB Finance (HNBF) has partnered with Kiya.ai to implement a cloud-native digital core banking system to centralize operations, enable AI/ML-driven services, automate transactions and improve efficiency, compliance and customer experience.
Rights issue · 5:24 at Rs 3.40 · XD Feb 25, 2025
HNB Finance PLC conducted the “Yalu Daskam” art workshop at President’s College, Homagama for Grade 4 students, funded by its Yalu Children’s Savings Account and including opening accounts with an initial deposit for participants. Prizes, certificates and plans to expand island-wide were announced.
Government plans to lift vehicle import restrictions early next month, with vehicle imports expected to contribute Rs.300–350 billion to revenue in 2025. Authorities will use a phased approach prioritising commercial/public transport, tighten import registrations, monitor dollar outflows and push tech-driven tax surveillance.
Visa forecasts Sri Lanka's digital payments market at $9.98bn in 2024, growing at a 14.49% CAGR to exceed $17bn by 2028. Visa highlighted a 35% surge in debit-card use during the last Avurudu, expansion of tap-to-pay and wearables, and a partnership with Hatton National Bank for a festive campaign.
Fitch upgraded the national long-term ratings of 10 Sri Lankan non-bank financial institutions and affirmed eight after recalibrating the national scale; notable upgrades include Central Finance, L B Finance, HNB Finance, Merchant Bank, Abans Finance and Singer Finance, while UB Finance was affirmed with a negative outlook.
Colombo market opened the holidays-shortened week higher as the ASPI rose 1.4% and the S&P SL20 rose 2% on turnover of Rs.4.4bn, supported by lower T-bill yields and strong banking and blue‑chip buying (notable contributors: SAMP, DFCC, NDB, HNB, COMB, JKH).
Rights issue · 5:24 at Rs 3.40 · XD Feb 25, 2025
HNB FINANCE PLC won the Bronze award in the Non-Bank Financial Institutions (LKR 25-75 billion assets) category at the TAGS Awards 2024. It is the company's third consecutive TAGS award, recognised for its annual report 'Simplify, Strengthen, Sustain' and transparency in reporting.
The ASPI crossed the 15,000 mark, closing at 15,021 after a 210-point (1.4%) gain on Rs.8.5bn turnover, led by heavy activity in banking and contributions from Browns Investments, HNB, Sampath, LOLC and JKH.
Colombo stock market extended its bull run as the ASPI rose about 4% for the week (closing at 14,205) on high turnover (avg Rs.5.66bn), led by heavy trading and price gains in Hemas, HNB, Lanka Milk Foods, John Keells and Alumex.
Colombo Stock Exchange extended gains for a 10th day, led by heavy turnover and price rises in Asia Asset Finance (up Rs.4 to Rs.21), Hayleys (up Rs.6.25 to Rs.115.25) and Ambeon Capital (up Rs.3.40 to Rs.22.90).
Colombo Stock Exchange ASPI rose 0.40% to 13,613 and S&P SL20 gained 0.41% to 4,069 on Friday, with turnover Rs4.9bn and a net foreign outflow of Rs429m. Major contributors included Hayleys, Sunshine Holdings, LOLC, Access Engineering and Royal Ceramics; heavy volumes in HNB Finance and plantation stocks.
HNB Finance PLC opened a new branch in Panadura at No. 31/1, Horana Road and launched a dedicated Gold Loan Unit offering Gold Loan, Gold Plan and VIP Gold Loan products. The branch also provides leasing, fixed deposits, savings, business and home loan services.
HNB Finance PLC ran financial literacy workshops in Nittambuwa and Nuwara Eliya, training over 300 MSME participants on account and debt management, cost control and business growth and distributing its 'Financial Literacy for Growth' manual.
APB hosted a CPDC session where NCGIL CEO Jude Fernando outlined a proposed credit guarantee scheme to improve MSME access to finance and lower lending risks for banks.
HNB PLC appointed Damith Pallewatte as Managing Director/CEO effective 22 November 2024. He served as Acting CEO since April, under whose leadership HNB reported Rs 38.7Bn PBT for the nine months of FY24 and outlined priorities including MSME revival, trade/export facilitation and digital banking.
HNB PLC appointed Damith Pallewatte as Managing Director/CEO effective 22 November 2024. He has been Acting CEO since April; under his leadership HNB recorded Rs. 38.7 billion PBT for 9 months of FY24 and outlined priorities including MSME revival, digital banking, trade/export facilitation and a potential Bangladesh acquisition.
HNB FINANCE PLC hosted financial literacy workshops in Nittambuwa and Nuwara Eliya, training over 300 MSME participants on topics including account and debt management to support sustainable business growth.