News & market updates

Merchant Bank of Sri Lanka & Finance PLC (MBSL) had its LKR690.5 million subordinated debentures assigned a National Long-Term Rating of 'BBB+(lka)' by Fitch. Fitch said the rating is two notches below MBSL's national long-term rating and reflects baseline notching for loss severity and expected poor recovery in default.

The Committee on Public Finance approved raising the annual levy on insurance companies to 0.2% of gross written premiums (from 0.125%) to fund IRCSL operations. The committee also criticised IRCSL’s handling of MBSL Insurance and pushed for reforms to streamline third‑party claims and channel reserves into development projects.

Merchant Bank of Sri Lanka & Finance PLC (MBSL) raised Rs. 475 million of five-year Tier II subordinated debt, structured and placed by Serendib Frontier Capital to strengthen its Tier II capital and support lending and regulatory requirements.

Merchant Bank of Sri Lanka & Finance PLC (MBSL) raised Rs. 475 million through a five-year Tier II subordinated debt placed by Serendib Frontier Capital to strengthen Tier II capital, support regulatory requirements and expand lending capacity.

The SEC and Colombo Stock Exchange ran an issuer awareness session 'Path to a Public Listing' at the University of Sri Jayewardenepura, attended by over 80 students and alumni. Presenters and panelists included representatives from Merchant Bank of Sri Lanka & Finance (MBSL) and Maharaja Foods (MFPE).

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.

Merchant Bank of Sri Lanka & Finance PLC (MBSL) announced the composition of the MBSL MIDCAP Index for 2025, effective 1 January 2025, with the midcap market-cap range set at Rs. 4.91 billion to Rs. 49.07 billion. The index will continue to include 25 stocks selected by market cap (as of 30 Nov 2024), liquidity and profitability.

A TW Corporate seminar featuring former MBSL executives urged lenders to adopt innovative credit evaluation and creative debt restructuring to reduce credit risk, improve monitoring and optimise balance sheets.

MERCHANT BANK OF SRI LANKA & FINANCE PLC (MBSL) CORPORATE DISCLOSURE- RECONSTITUTION OF BOARD AND BOARD COMMITTEES Pursuant to Rule 9.10.3 of the Listing Rules of the Colombo Stock Exchange, we write to inform you that the Board of MBSL at their meeting held on 14th October 2024, resolved to reconstitute Board and Board Committees in terms of Section 9.3.1 of the Listing Rules.

The Cabinet approved awarding the procurement for Merchant Bank of Sri Lanka & Finance PLC's core banking solution to Scienter Technologies after evaluation of four bids.

Merchant Bank of Sri Lanka & Finance PLC (MBSL.N0000) appointed Dulani Fernando as an Independent Non-Executive Director. Fernando brings over 25 years of finance and digital transformation experience, including roles at Microsoft and Shell and as CEO of the Institute of Chartered Accountants of Sri Lanka.

Merchant Bank of Sri Lanka & Finance PLC (MBSL) has signed an MoU with Hayleys Solar to launch two solar financing programmes: a personal solar loan and a term loan for individuals and businesses. The schemes form part of Hayleys Solar's 'Nayak Nowena Nayak' initiative, offering monthly instalments lower than current electricity bills.

MBSL.N0000 signed an MoU with Hayleys Solar to launch two solar financing programmes—a personal solar loan and a term loan for individuals and businesses. The partnership ties into Hayleys Solar’s 'Nayak Nowena Nayak' plan offering monthly payments below typical electricity bills and 20 years of free electricity.