|
Another year of significant performance at Asian
Alliance Insurance
Asian Alliance Insurance PLC has marked another
successful year recording a net profit after tax of
Rs.135 Mn., a 20% growth over previous year; a 12% growth
in Gross Written Premium against last year to Rs. 1.4
Bn. Both the Life and Non Life Divisions have reported
impressive growths in Gross Written Premium (GWP); the
Life Insurance Business grew by 9% with a GWP of Rs.
970 Mn., and the Non Life Insurance Business recorded
a GWP of Rs. 460 Mn. growing by 20% over last year.
MBSL in talks to manage Ceylinco Savings Bank
Merchant Bank of Sri Lanka (MBSL) is engaged in preliminary
discussions with Central Bank to undertake the management
of the affairs of Ceylinco Savings Bank and to rehabilitate
the bank with the view of establishing a long term relationship.
Recently MBSL accepted an assignment from The Finance
& Guarantee Company Limited to provide consultancy
services to The Finance & Guarantee Group to restore
public confidence and to resolve its current liquidity
problems.
MBSL has obtained clearance from the Central Bank in
this regard. MBSL is in the process of gathering relevant
information /documents to develop a Plan to restore
business activities of The Finance & Guarantee Group
without any responsibility in the capacity of managers
or directors.
People’s Merchant enters into credit card business
People’s Merchant Bank has ventured into credit
card business with the take over of ABC Credit Card
Co Ltd.
The Bank has floated PMB Credit Card Co Ltd for this
purpose. An agreement to this effect was signed last
week between the Directors of People’s Merchant
Bank PMB Credit Card Co.Ltd and ABC Credit Card Co.Ltd.
PMB also acquired 44% stake in Silvereen Finance Co
Ltd., with a deal signed between Directors of People’s
Merchant Bank PLC and Mr. Shiran Dissanayake, a shareholder
of Silvereen Finance Co.Ltd.
|
