Sri Lanka sold two international bonds in 2015, transactions which coincided with the advent of the new government, and both issues were great successes. They generated significant demand, and pricing was seen as good. In addition, the issues provided confirmation that the international community has faith in the new administration. Indeed,...
THE COMPANY: Textured Jersey Lanka (TJL) commenced commercial operations in Sri Lanka in 2001 with Textured Jersey UK and Brandix as joint venture partners. A public limited liability company, renowned for the production of quality, weft-knit fabric, TJL was quoted in the Colombo Stock Exchange (CSE...
Well capitalised, well regulated and fast-growing, the Sri Lankan banking sector has faced no collapses in recent years and has benefitted from strong economic growth and relative stability following the end of the civil war in 2009. However, the sector remains fragmented, and some of the non-bank financial institutions are seen as potentially...
The NBFI segment is a small part of the financial sector overall, representing just 8% of total deposits. However, it has been an area of concern in recent years. The stability of some of these institutions has been brought into question, and considerable thought has been given to how to regulate NBFIs. No final solution has been developed...
The Sri Lankan banking sector is in some ways fragmented for a country of 20.5m people, and in need of consolidation, but there is little agreement on how that should be done. In total, the country has 25 licensed commercial banks and 56 non-bank financial institutions (NBFI). And while the vast majority of these enterprises are healthy, some...
Sri Lanka has had a poor history of revenue collection. Tax revenues as a percentage of GDP have declined from above 20% in the early 1990s to about 12.2% in 2014. In comparison, Malaysia and Thailand are at about 15%, while Singapore is about 13%. India, however, is at 10%, although it also contains a far larger informal economy.
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