Corporate News
View all(68)CEB Reports Rs. 29.15 Bn Loss in 2025 Q4 📈
The Ceylon Electricity Board (CEB) has posted a significant financial downturn for the final quarter of 2025, reflecting a sharp shift in the state utility's profitability. • Quarterly Performance (Q4 2025): Recorded a net loss of Rs. 29.15 Bn for the quarter ended 31 December 2025. This represents a 4,929% decline compared to the Rs. 603 Mn profit reported in Q4 2024. • Annual Results (Full Year 2025): The total annual loss reached Rs. 38.73 Bn. This follows a highly profitable 2024, where the utility recorded a surplus of Rs. 141.60 Bn. • Economic Context: The reversal highlights ongoing volatility in the energy sector, impacting national fiscal stability and the broader power & infrastructure landscape. _Note: Based on latest financial statements as of March 2026._
📈 Fintrex Finance Reports Massive 352% Surge in 9-Month PAT
Fintrex Finance PLC has announced exceptional results for the nine months ending December 31, 2025, driven by strong operational momentum and successful income diversification. • Overall Profitability: Year-to-date Profit After Tax (PAT) soared to Rs. 478 Mn, a 352% YoY increase. Earnings Per Share (EPS) jumped to Rs. 2.02 from Rs. 0.45. • Revenue Performance: Gross income rose 79% to Rs. 4.80 Bn. Net Interest Income (NII) surged 91% to Rs. 2.38 Bn, supported by a 61% growth in interest income and effective asset-liability management. • Income Diversification: Net fee and commission income saw a remarkable 422% YoY growth to Rs. 667.6 Mn, highlighting a shift toward non-interest-based revenue. • Balance Sheet & Assets: Total assets grew 37% to Rs. 29.8 Bn. Loans and advances expanded by 68%, while customer deposits increased 19% to Rs. 11.6 Bn. • Strategic Growth: The company is advancing its digital footprint with a new mobile banking app and targeted financing for SMEs and students. Capital was bolstered via a Rs. 500 Mn Tier II certificate issuance and a rights issue. • Stability: Impairment provisions increased in line with loan growth using conservative IFRS 9 overlays to ensure long-term resilience.
JXG Reports Strong 9-Month Growth with Rs. 3.2 Bn Profit 📈
Janashakthi Group (JXG) delivered a resilient performance for the nine months ended 31 December 2025 (Q3 FY26), driven by its integrated financial services portfolio. • Overall Group Performance: Consolidated Revenue: Rs. 21.9 Bn (up 19.2% YoY). Net Profit After Tax (PAT): Rs. 3.2 Bn, surpassing the Rs. 2.9 Bn recorded in the previous year. Total Assets: Stood at Rs. 163 Bn, reflecting a strengthened balance sheet. • Sector & Subsidiary Breakdown: Investment Banking (First Capital): Contributed Rs. 11.4 Bn to revenue. While mark-to-market gains moderated, the stockbroking arm saw PAT surge to Rs. 166 Mn from Rs. 39 Mn YoY. Insurance (Janashakthi Insurance): Reported a PAT of Rs. 3.4 Bn for the full year. Gross Written Premiums rose 31% to Rs. 8.7 Bn, with a significant 67% growth in New Business Premiums. Finance (Janashakthi Finance): PAT reached Rs. 240 Mn. The lending portfolio showed high traction with 49% YoY growth, pushing Net Operating Income up by 35% to Rs. 2.2 Bn. • Strategic Outlook: The Group attributes its success to a disciplined "portfolio approach" and scalable platforms. Management remains confident for the final quarter of FY26, focusing on capital allocation and risk management to sustain momentum across its banking, insurance, and leasing interests.
📈 Ceylinco Life Secures 22nd Year of Market Leadership with Rs. 44.18 Bn Premium
Ceylinco Life has maintained its dominant position in Sri Lanka’s life insurance sector for the 2025 financial year, posting strong growth across all key financial metrics and crossing the Rs. 200 Bn Life Fund milestone. • Core Financial Performance • Gross Written Premium (GWP): Rs. 44.18 Bn (↑ 18.96% YoY) • Total Consolidated Income: Rs. 72.43 Bn (↑ 10.51% YoY) • Net Profit After Tax: Rs. 7.85 Bn (↑ 10.97% YoY) • Profit Before Tax: Rs. 11.21 Bn (↑ 11.5% YoY) • Asset Base & Stability • Total Assets: Rs. 287.02 Bn (↑ 14.15%), growing at an average of Rs. 2.9 Bn per month. • Life Fund: Milestone reached at Rs. 201.81 Bn (↑ 11.56%). • Investment Portfolio: Expanded to Rs. 253.43 Bn (↑ 13.9%). • Policyholder & Shareholder Value • Benefits Paid: Rs. 31.07 Bn in net claims and benefits (↑ 24.06% YoY). • Shareholder Equity: Increased to Rs. 67.8 Bn. • Earnings Per Share (EPS): Rs. 156.94. The results underscore the resilience of the financial services industry and Ceylinco Life’s ability to maintain high trust levels, reflected in its 19th consecutive "People’s Life Insurance Service Provider" award. The company continues to play a vital role in national risk mitigation and long-term capital formation.
Fitch Assigns 'AAA(lka)' Rating to Hayleys Rs. 7 Bn Debentures 📈
Fitch Ratings has assigned a National Long-Term Rating of 'AAA(lka)' to Hayleys PLC’s proposed Rs. 7 billion unsecured senior redeemable debentures, reflecting the group's dominant market position and diversified revenue streams. • Financial Performance & Outlook Revenue Growth: Projected to rise by 19% in FY26, driven by consumer and retail, hand protection, and purification sectors. Margins: EBITDA margin expected at 10% for FY26 (slight dip from 11% in FY25) due to textiles export softening and US tariff pressures, with recovery to 11% forecast for FY27. Leverage: Net leverage (EBITDAR) expected to steady at 3.0x–3.5x for FY26-FY28. • Sector & Market Highlights Export Strength: Direct and indirect exports accounted for 53% of FY25 revenue; 15% stems from US/EU markets. Purification: Global leader in coconut shell-based activated carbon; 45% of capacity is located in Thailand and Indonesia. Hand Protection: Manufacturing operations in Thailand leverage the world’s largest natural rubber source. Agriculture & Tea: Holds a leading supplier position in Sri Lanka’s tea export and plantation industries. • Strategic Liquidity Capex: Planned annual investment of ~Rs. 20 billion for capacity expansion. Rights Issue: Rs. 9 billion expected in FY26 to finance new investments and debt repayment. Liquidity: Supported by Rs. 55 billion in unrestricted cash and strong access to domestic banking capital.
📈 Sierra Cables Reports Robust Growth and Global Expansion
Sierra Cables PLC has demonstrated a strong financial resurgence for the nine months ended 2025, driven by strategic oversight under Browns Investments and a focus on high-standard manufacturing. • Overall Financial Performance Revenue: Rs. 12 Bn (↑ 68% YoY from Rs. 7 Bn) Operating Profit: Rs. 2.5 Bn (↑ 70% YoY) Net Profit: Rs. 2.1 Bn (↑ 105% YoY) Earnings Per Share: Increased to Rs. 3.88 from Rs. 1.89 • Sector & Market Highlights Export Leadership: Named "Best Sri Lankan Brand Exporter" in the Electronic and Electrical Products sector. US Market Access: Remains the only Sri Lankan cable manufacturer certified to the UL 44 standard, enabling supply to the highly regulated United States market. International Footprint: Expanding reach through operations in Zambia (Browns Manufacturing Ltd) and Fiji (Cables PTE Ltd). Infrastructure Impact: Primary supplier for major local projects including Cinnamon Life at City of Dreams and the Thambuttegama Water Supply Project. • Strategic Factors Financial Discipline: Net finance costs fell 29% to Rs. 101 Mn, aided by exchange gains from export growth. Credit Rating: Maintained an A+ (lka) national rating with a stable outlook from Fitch Ratings. Innovation: Investing in specialized solutions for renewable energy and fire-resistant cables for critical infrastructure. The company’s performance reflects a structural shift toward global competitiveness, balancing domestic market depth with a diversified international presence.
### Amana Bank Records Best-Ever Performance in 2025 📈
Amana Bank achieved its highest profitability since inception in 2025, driven by robust growth in the SME sector and core financing activities. Financial Highlights • Profitability: Profit Before Tax (PBT) surged 47% YoY to Rs. 4.1 Bn, while Profit After Tax (PAT) rose 40% to Rs. 2.4 Bn. • Efficiency: Return on Equity (ROE) reached double digits for the first time at 10.4% (vs. 8.0% in 2024). The Cost-to-Income ratio improved to 51.8%. • Income: Total Operating Income grew 16% to Rs. 10.1 Bn, supported by a 21% rise in Net Financing Income. Lending & Asset Quality • Advances: Customer advances grew by 36% (Rs. 39.6 Bn) to reach Rs. 150.9 Bn, focusing heavily on SMEs to support the national economy. • Asset Quality: Maintained an industry-leading Stage 3 Impaired financing ratio of just 1.2%. • Assets & Deposits: Total Assets grew 12% to Rs. 204.3 Bn, while deposits rose to Rs. 172 Bn with a strong CASA ratio of 45%. Stability & Shareholder Value • Capital Position: Total Capital Ratio stood at 14.7%, comfortably above the 12.5% regulatory requirement. • Dividends: Declared its 8th consecutive interim dividend of Rs. 1.30 per share (4.3% yield). • Global Standing: Recognized among the Top 50 Strongest Islamic Banks globally by The Asian Banker. New Appointment • Board Expansion: Appointed Dr. Aishath Muneeza, a global expert in Islamic finance and former Maldives Deputy Minister, as an Independent Non-Executive Director. _Note: Based on audited FY 2025 financial data._
📈 Pan Asia Bank to Raise Rs. 5 Bn via Debenture Issue
• Pan Asia Banking Corporation PLC has received Board approval to raise up to Rs. 5 billion through a listed, rated, unsecured, senior, redeemable debenture issue. • Issue Details: The bank plans to issue up to 50 million debentures at a face value of Rs. 100 each. • Tenor & Listing: The proposed instruments will carry tenors of up to five years and are intended to be quoted on the Colombo Stock Exchange (CSE). • Status: The move is subject to necessary regulatory approvals following the Board's decision on 26 February 2026. • Context: This capital raising initiative supports the banking & financial services sector's liquidity and long-term funding structures within the Sri Lankan economy. _Note: Based on official bank disclosure dated 03 March 2026._
📈 Union Bank to Raise Rs. 3 Bn via Basel III Debenture Issue
Union Bank of Colombo PLC has announced a strategic debenture issue scheduled to open on 10 March 2026, aiming to raise up to Rs. 3 Billion to strengthen its Tier II capital base. • Issue Details The offering consists of Basel III compliant, listed, rated, unsecured, and subordinated redeemable debentures with a 5-year tenure (2026–2031). The instrument is rated BB (lka) by Fitch Ratings. • Investment Structure Investors can choose from three distinct types priced at Rs. 100 per unit: Type A: 13% fixed rate p.a. (paid annually). Type B: 12.5% fixed rate p.a. (paid semi-annually; 12.89% AER). Type C: Floating rate of 182-day T-Bill rate + 400 bps (paid semi-annually). • Capital Allocation The initial issue is for 20 million debentures (Rs. 2 Bn), with an option to issue an additional 10 million (Rs. 1 Bn) at the bank's discretion. Funds are earmarked to bolster capital adequacy and fuel long-term growth initiatives within the banking and financial services sector. • Key Parties The issue is managed by First Capital Advisory Services Ltd as the Managers and Placement Agents.
📉 LB Finance Withdraws Proposed Rs. 10 Bn Debenture Issue
• LB Finance PLC has officially decided not to proceed with its previously announced listed debenture issue, which aimed to raise up to Rs. 10 billion. • The decision follows an internal assessment by the Board of Directors, effectively cancelling the plans communicated in October and December 2025. • The proposed issuance consisted of listed, rated, unsecured, senior, redeemable debentures, a move typically intended to strengthen capital bases or fund lending growth in the non-banking financial institution (NBFI) sector. • This withdrawal reflects a shift in the company's capital mobilization strategy, though specific reasons for the board's decision were not disclosed in the statement.
SLT Group Reports Surge in FY 2025 Profitability Amid Cost Efficiency 📈
The SLT Group has recorded a massive turnaround for the financial year ended 31 December 2025, driven by disciplined expense management and a significant reduction in finance costs. • Overall Group Figures • Profit After Tax (PAT): Rs. 10.0 Bn (+221% YoY) • Revenue: Rs. 114.2 Bn (+3% YoY) • Operating Profit: Rs. 14.2 Bn (+27% YoY) • Finance Costs: Reduced by 21% to Rs. 7.05 Bn due to debt settlement and lower interest rates. • Sector Breakdowns • SLT PLC (Fixed): Revenue grew 2% to Rs. 73 Bn. PAT surged 196% to Rs. 6.2 Bn, bolstered by FTTH (Fiber-to-the-Home) adoption and strong demand in the SME and government sectors. • Mobitel (Mobile): Reported a stellar 2,123% increase in PAT to Rs. 3.1 Bn. Growth was fueled by data consumption and a transition to a profit-based tax regime. • Strategic Highlights • ICT/BPM & Digital Infra: Expansion of fiber networks supported key national projects like the Lanka Government Network. • 5G Leadership: Strategic spectrum acquisition positions Mobitel as the leader in high-speed connectivity. • National Resilience: Successfully restored 98% of network sites within one week following Cyclone Ditwah. • Q4 Momentum • Group PAT for the final quarter rose 51% YoY to Rs. 3.5 Bn, maintaining strong momentum heading into 2026.
📈 SalamAir Suspends International Operations Amid Regional Developments
Oman’s budget carrier, SalamAir, has announced a temporary 24-hour suspension of all international flights and its Masirah service, effective 28 February 2026. • Current Status: All international routes are halted for a minimum of 24 hours. • Reasoning: The airline cited the "evolving situation in the region" as a precautionary measure, prioritizing the safety of passengers and crew. • Impact: The suspension affects regional connectivity, including routes vital for labor migration and tourism sectors linked to the Middle East. • Next Steps: Operations are under constant monitoring; affected passengers are being contacted directly for rebooking or travel arrangements. _Note: This summary is based on provisional operational updates released on 28 February 2026._ ---