Market’s illiquid state compounded by seasonal demand for money, coupled with the lack of confidence in the establishment that is also driving demand for US dollars ($s) and rates as well, forced Central Bank of Sri Lanka (CBSL) to hold a reverse repo auction on Friday (December 16) to tide over the situation Overnight (O/n) ...

Banks’ Profits Up 111% The banking industry achieved a considerably high level of profits in 2010. Profit after tax amounted to Rs. 57.5 billion last year, a 111% growth in comparison to a Rs. 27.2 billion profit in 2009. The significant growth in profitability was mainly attributed to a higher increase in fee-based income, a ...