News & market updates

Dialog Axiata regained the top spot on the Colombo Stock Exchange with a market cap of Rs. 367.1 billion (4.51% of total market cap), overtaking John Keells Holdings at Rs. 359.4 billion.

Union Bank recognised top performers for 1Q2026 at the UB Heroes Awards; Trincomalee Branch won Best Branch and the KPI Achievement Award for strong performance across seven KPIs.

Asia Asset Finance PLC is offering free PickMe rides for Fixed Deposit customers from home to the nearest branch and back across Sri Lanka. The initiative, in partnership with app-based PickMe, aims to improve customer convenience amid rising transport and fuel costs.

Commercial Bank of Ceylon (COMB.N0000) was announced as the first bank onboarded to LankaPay and eMudhra's remote digital signature solution (eMudhra e-Sign with LankaSign) at a launch on 22 May 2026. The service enables secure, legally recognized remote e-signatures to speed onboarding and digital document workflows.

Sampath Bank PLC has become the first bank in Sri Lanka to integrate PayPal withdrawals and account connectivity via the Sampath Vishwa app, allowing customers to link PayPal and withdraw funds in LKR or USD. The service targets freelancers, SMEs and exporters to ease access to international payments and support foreign currency inflows.

Sri Lanka's Central Bank urged the public not to be misled by claims it has 'printed money', saying money supply and exchange rates require specialist technical analysis. The statement comes ahead of a monetary policy meeting amid speculation the Bank may tighten policy to support the rupee and curb cost‑push inflation after a fuel price hike.

Sri Lanka's rupee closed at 325.50/327.00 to the US dollar on Monday (from 329.00/331.00 on Friday) while government bond yields fell sharply (e.g. the 15.09.2027 bond quoted at 9.15/50%).

Colombo Stock Exchange closed higher, with the ASPI up 1.98% to 22,364.77, as rupee stabilisation and lower interest rates boosted investor confidence. Ceylon Cold Stores and Hemas posted strong quarterly profits and John Keells declared a final dividend; Dialog, Commercial Bank and Sampath gained while hSenid and Dipped Products fell.

Sri Lanka's services exports fell 6.13% in April 2026 to $317.16m. ICT/BPM exports rose 24.89% to $146.09m and financial services grew 119.41% to $10.45m, while construction and transport/logistics exports declined sharply.

Colombo Stock Exchange ASPI rose 1.96% (430.21 pts) to 22,359.85 on Monday, with the S&P SL20 up 1.93%. Top contributors included Dialog Axiata, John Keells, Commercial Bank and Hemas; Ceylon Cold Stores reported Q1 profit up 75% to Rs 3.76bn and LVL Energy Fund's rights issue was oversubscribed.

The Central Bank of Sri Lanka has set a maximum LTV of 70% for gold‑secured loans and tightened motor vehicle financing LTVs by 10 percentage points, effective from the 25th; the measures apply to licensed banks, finance companies and leasing firms.

The Central Bank of Sri Lanka intervened in FX markets and the rupee surged as much as 2.7% on Friday, reversing a nine-day slide and becoming Asia's best-performing currency; CBSL data showed YTD depreciation widened from 4.5% (15 May) to 7.2% (22 May).

Verité Research found the Employees’ Provident Fund (EPF) discloses less information than listed firms and banks, warning this weak transparency endangers private-sector savings; the brief cites a Rs 13.2 billion fraud at National Development Bank PLC, noting the EPF holds about 9.46–9.50% of NDB equity.

Sri Lanka's rupee was quoted at 328.00/335.00 to the US dollar, weaker than on Friday, while bond yields held firm with maturities quoted around 10.20%–11.35%. Exporters feared new surrender rules and interbank markets resumed activity after strong forward selling by exporters.

Sri Lanka's central bank capped loan-to-value for gold-backed credit at 70% and tightened motor-vehicle loan LTVs by 10 percentage points, effective May 25. The measures apply to licensed banks, finance companies and leasing firms (including renewals) as macroprudential steps to curb rapid credit growth and asset-price volatility.

ASPI surged 435.13 points (1.98%) to 22,364.77 with turnover of Rs.2.42 billion, driven by broad domestic buying; top contributors included Dialog Axiata, Commercial Bank, John Keells, Sampath Bank and Hemas Holdings, and market cap rose to Rs.8.11 trillion.

Commercial Bank of Ceylon upgraded its Self-Onboarding Platform to enable instant, fully digital paperless savings account opening with real-time video identity verification and automated compliance screening, allowing new and overseas customers to onboard without branch visits.

Nations Trust Bank (NTB.N0000) has partnered with David Pieris Automobiles to offer flexible vehicle financing for BAIC and GWM models, using its Consumer and Corporate Banking divisions to streamline and expand customer access to auto loans.

The Central Bank of Sri Lanka introduced a 70% maximum LTV for gold-secured credit and tightened motor-vehicle LTV limits by 10 percentage points, effective 25 May 2026. The measures apply to Licensed Banks, Licensed Finance Companies and Registered Finance Leasing Establishments to curb rapid credit growth and systemic risk.

Foreign investors sold about US$13.9m (4,580 million rupees) of Sri Lanka government securities in the week to May 21 amid depreciation pressure on the rupee. The currency is down over 7% YTD and higher inflation after a ~35% fuel price hike has increased pressure on the central bank ahead of its policy meeting.

President Anura Kumara Dissanayake said Sri Lanka faces external pressures from the Middle East conflict—higher oil and import costs and rupee depreciation—but rejected a repeat of the 2022 collapse, noting Central Bank reserves near $7bn and a $700m inflow expected; he assured no shortages of fuel, gas, milk powder or fertiliser.

Deputy Finance and Planning Minister Dr. Anil Jayantha Fernando defended Sri Lanka's flexible exchange rate and independent monetary policy amid rupee pressure, noting the interbank rate averaged Rs.330/USD (bids Rs.327, offers Rs.332). He warned fuel import costs could hit $521m in May, forecast remittances above $9b and expected IMF tranche approvals.

Sri Lanka will develop an AI-powered National Cybersecurity Framework to detect AI-driven digital fraud in real time and unify fragmented security systems, Deputy Digital Economy Minister Eranga Weeraratne said; the move involves collaboration with Google Cloud and NCINGA on the 'Scam Shield' initiative.

ASPI fell 4.26% for the week but closed Friday up 0.44% at 21,929.64, with market turnover near Rs.2.2bn and net foreign outflow of Rs.11.6m; top positive contributors were JKH, DOCK, MELS, RICH and SAMP amid cautious investors ahead of the CBSL policy meeting.

Commercial Bank of Ceylon (COMB.N0000) signed an agreement to establish a fully-fledged branch at Port City Colombo offering full banking services including digital banking, trade, foreign currency and corporate solutions. The branch aims to support cross-border business and international investors in the Special Economic Zone.

Commercial Bank of Ceylon (COMB.N0000) will open a full-service branch in Port City Colombo offering digital banking, trade, foreign-currency, corporate and retail services to support cross-border transactions and international investors.

Sri Lanka's rupee spot closed at 329.00/331.00 to the US dollar on Friday, recovering from 342.00/350.00 the previous day, while government bond yields fell across multiple maturities.

Rights issue · 1:18 at Rs 33.00 · XD Apr 22, 2026