News & market updates

WSO2 founder and CEO Sanjiva Weerawarana will step down as CEO effective June 2026, with Chief Revenue Officer Devaka Randeniya appointed Acting CEO while the board searches for a permanent replacement. The company was sold to EQT in August 2024 at a $600m valuation.

Dialog Axiata PLC reported Q1 2026 group revenue of Rs 47.3Bn (+9% YoY) and group NPAT of Rs 9.2Bn (up >100% YoY). The board approved a Rs 0.70 interim dividend, OFCF was Rs 14.6Bn, and capex of Rs 5.5Bn was spent to expand 5G infrastructure.

Dividend · Rs 0.70 · XD May 26, 2026

First Interim dividend of LKR 0.7/share; XD 2026-05-26; record 2026-05-26; payable 2026-06-15; FY 2026

Pan Asia Banking Corporation reported Q1 2026 PBT up 13% to Rs. 1.65 billion (PAT Rs. 1.05 billion), with advances up 10% to Rs. 239.49 bn and deposits up 10% to Rs. 254.19 bn; credit loss expenses fell 93% and NIM was sustained.

Nations Trust Bank (NTB.N0000) reported 1Q PAT of Rs. 4.6 billion, up 12% YoY, with EPS Rs. 13.72, loan growth of Rs. 41.3 billion (10% YoY) and NIM of 5.66%. NTB completed transfer of HSBC's Sri Lanka retail portfolio (~230,000 accounts, 343 staff) on 1 May 2026; Tier-1 17.31%.

Vertex HD Distribution has formally launched operations in Sri Lanka, bringing international brands (Verbatim, Marvo, Microlab, Bestoss, Synomax) to the gaming, storage and computer accessories market. It aims to build a nationwide distribution platform for retailers, resellers and corporate customers with competitive pricing and after-sales support.

Branding in Sri Lanka is shifting toward people-centered co-creation supported by AI—with nearly 90% of digital content ignored—offering opportunities for firms (e.g., Dialog Axiata) and hotel, tea and consumer brands to use community-driven storytelling and creator networks.

PayPal will soon be available in Sri Lanka through initial banking partners Commercial Bank (COMB.N0000) and Sampath Bank (SAMP.N0000), improving cross-border payment access for freelancers, SMEs and digital service providers.

PayPal launched in Sri Lanka through integration with the domestic banking system, initially available via Commercial Bank and Sampath Bank. The service aims to ease cross-border payments for freelancers and SMEs and expand digital payment access as more banks join.

LG Electronics showcased region-specific laundry, kitchen and AI-powered home solutions at LG InnoFest 2026 APAC in Busan, and outlined ThinQ ON rollout (starting with Australia and Thailand) plus expansion of its LG Subscribe appliance subscription across key Asian markets.

Dialog Axiata reported a net profit of Rs.9.19 billion for the quarter ended Mar 31, 2026 (up 122.3% y/y) and announced an interim cash dividend of 70 cents per share. The Colombo bourse was up (ASPI +0.28%) midday with Rs.1.81bn turnover, led by capital goods (Rs.870.3m).

Sampath Bank launched the Mastercard Business Credit Card to support SMEs and a Mastercard Purchasing Card for corporates. The SME card offers instalment plans, customizable limits, rewards and up to 50% cash advance; the purchasing card adds transaction controls and consolidated reporting.

SLT‑MOBITEL reported Q1 2026 group revenue up 10.6% to LKR 30.8 billion and profit after tax up 53.3% to LKR 3.1 billion. SLT PLC revenue was LKR 19.7bn (+10.6%); Mobitel revenue rose 9.9% with broadband revenue up 28%.

DFCC Bank PLC won multiple accolades at the 15th ACEF Global Customer Engagement Awards, including a Gold for the DFCC ONE App and four Silver awards spanning women’s empowerment, youth development, environmental awareness and community engagement.

Sampath Bank launched the Mastercard Business Credit Card for SMEs and a Mastercard Purchasing Card for corporates to support cash-flow, procurement and expense management. The cards offer instalment plans, customisable credit limits, rewards, enhanced security and online account management.

Commercial Bank Group reported total assets of Rs. 3.61 trillion as at 31 March 2026, up Rs. 230 billion (6.81%) in Q1. The group posted net profit of Rs. 17.94 billion for the quarter (up 19.8% YoY), with provision cover over 75% and a CASA ratio of 40.18%.

Nations Trust Bank (NTB.N0000) reported 1Q FY2026 PAT of LKR 4.6Bn (up 12% YoY) and completed the transfer of HSBC Sri Lanka’s retail portfolio—about 230,000 accounts and 343 staff—on 1 May 2026. NIM was 5.66%, EPS rose to LKR 13.72, and Tier 1 and total capital ratios were 17.31% and 18.41% respectively.

Hatton National Bank PLC reported Q1 2026 PAT of Rs 9.95 Bn and total assets surpassed Rs 2.5 Tn. NII reached Rs 26.9 Bn as NIM expanded to 4.45%; deposits exceeded Rs 2.0 Tn, gross loans passed Rs 1.6 Tn, and capital/liquidity remained strong (Tier I 15.03%, LCR 194.44%).

CBSL Governor Nandalal Weerasinghe said the central bank's mandate is limited to preserving price and financial stability and it will not promote economic growth, productivity or FDI. He added policy (including interest-rate) decisions will be data-driven and reserve targets under the IMF program may be revised given external risks such as the Middle East conflict.

Hatton National Bank PLC reported a Profit After Tax of Rs. 9.95 billion for 1Q 2026 and total assets surpassed Rs. 2.5 trillion. Net interest income was Rs. 26.9 billion with NIM up to 4.45%; deposits topped Rs. 2.0 trillion, gross loans Rs. 1.6 trillion, and net Stage 3 ratio was 1.18%.

Sampath Bank posted PAT of Rs. 6.2 billion for 1Q 2026 on total operating income of Rs. 28.5 billion, with total assets crossing the Rs. 2 trillion mark. PAT fell 26% YoY due to Rs. 4.5 billion impairment charges and lower one-off gains, while NII rose 5% and loans grew by Rs. 127.5 billion.

Sri Lanka and Nepal launched cross-border QR payment connectivity on 12 May, enabling Nepali travellers to make real-time payments at more than 400,000 LankaQR merchants in Sri Lanka using Nepali payment apps (including connectIPS). The arrangement, announced in Colombo by central banks and payment operators, aims to enhance regional digital payment interoperability and merchant access.

Abans Finance PLC listed its maiden five-year debenture on the CSE after subscriptions of 13,384,000 debentures against a 10,000,000 offer, raising Rs.1,338,400,000. The A- (lka) rated issue, managed by NDB Investment Bank, is intended to expand the firm's asset base and support growth and digital transformation.

Huawei held the 10th ICT Competition APAC finals at the ASEAN Headquarters in Jakarta, drawing over 8,600 student entrants, more than 160 finalists and qualifying 16 teams for the global finals in Shenzhen. Huawei also launched a white paper on ICT job roles, announced AI-focused curriculum updates and regional AI talent initiatives.

Seylan Bank PLC opened its 291st 'Pahasara' library at A/Buddhangala Central College on 27 March 2026, donating books, a laptop and a smart board and running financial literacy workshops as part of its ESG programme as it progresses toward 300 libraries.

Dialog Axiata's subsidiary Digital Health (Doc990) has deployed a digital queue management system for pharmacy counters at Galle National Hospital, enabling patients to take and track queue numbers via screens to reduce congestion and support staff with real-time backend coordination.

The Computer Society of Sri Lanka (CSSL) set a national direction for a human-centric digital economy at the 44th National IT Conference, advancing a Society 5.0 vision focused on skills, inclusion and innovation across FinTech, EduTech, MedTech, TravelTech, InfoSec and AgriTech to drive digital transformation.

Sysco reported Q3 FY2026 sales of USD 20.5 billion (up 4.7% YoY) and adjusted net earnings of USD 452 million, reaffirming full-year adjusted EPS guidance at the high end of $4.50–$4.60, with Sysco LABS Sri Lanka credited for driving digital and supply‑chain efficiencies.

Mahindra Ideal Finance (MIFL) posted PBT of LKR 818 million for the year ended 31 Mar 2026, up 193% YoY, and PAT of LKR 478 million, up 228% YoY. Disbursements rose 98% to LKR 57.6 billion, loan book grew 82% to LKR 26.95 billion, cost-to-income fell to 50.5% and Gross Stage 3 improved to 1.73%.

Rockland Group appointed Tharindra Kulasinghe as a Non-Executive Director effective immediately; he will continue as Chief Information Officer of Capital Alliance PLC and brings over 16 years of technology and digital experience.