FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» TRUE VALUE OF LANKA ALUMINUM INDUSTRY (LALU)
by Trading Jockey Today at 6:56 pm

» පෙබරවාරි මාසේ කොළඹ කොටස් වලට මොකක්ද වුනේ - බැසුවාද ? බැස්සාද ?
by xhunter Today at 4:19 pm

» NATIONS TRUST BANK PLC (NTB.N0000)
by chathura123 Today at 3:53 pm

» UNHCR Fear is over 21 countries speak for us only 15 against
by Vishwanarth Today at 11:14 am

» Daily Foreign Transactions
by Mithooshan Today at 7:31 am

» SOFTLOGIC HOLDINGS PLC (SHL.N0000)
by suku502 Today at 12:58 am

» DFCC will be receiving Rs.594,538,285.50
by Wonderer Yesterday at 7:49 pm

» UNHCR එකේ ලොකූ ටෝක දැම්මට සමහර ඔස්තාර් ලා කියන ආර්තික සම්භාදක අරවා මේවා මුකුත් එන්නේ නැ
by Vishwanarth Yesterday at 6:27 pm

» BROWNS INVESTMENTS PLC (BIL.N0000)
by samaritan Yesterday at 9:45 am

» GLAS will be winner with Super Gain.
by Eranga87 Yesterday at 2:00 am

» If you are one of those people who can sleep at night while someone else is in control of your destiny, then my advice would be to only invest in stocks
by Asoka Samarakone Thu Feb 25, 2021 9:58 pm

» Price prediction on GRAN and TAFL
by Bakkabwoi Thu Feb 25, 2021 6:22 pm

» SEMB SEMB
by stockchaser Thu Feb 25, 2021 2:57 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Vishwanarth Thu Feb 25, 2021 2:54 pm

» Bullish sentiment returns with market regulator's assurance
by Vishwanarth Thu Feb 25, 2021 2:52 pm

» DIPD/HAYC/HAYL
by Wickyz Thu Feb 25, 2021 1:19 pm

» Chart 25.02.2021
by stockback Thu Feb 25, 2021 12:41 pm

» is it a good time to sell expo shares
by Kipling Thu Feb 25, 2021 8:39 am

» Current 2021 Februray Unit Trust/Unit Fund Per Annum percentages
by agentnrox Thu Feb 25, 2021 8:13 am

» Leading brokers causing market downturn
by Mithooshan Thu Feb 25, 2021 7:40 am

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » New Bank - Sri Lanka CargillsBank

New Bank - Sri Lanka CargillsBank

Go down  Message [Page 1 of 1]

1New Bank - Sri Lanka CargillsBank Empty New Bank - Sri Lanka CargillsBank Fri Aug 31, 2012 8:51 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Sri Lanka CargillsBank's head office to be housed at former Lankaputhra Development Bank's head office at Colombo 07

Aug 31, 2012 (LBT) - Sri Lanka CargillsBank will house its new head office at the former head office premises of state owned dud bank Lankaputhra Development Bank (LDB), LBT learns.

Earlier 34, Maitland Crescent, Colombo 07 housed the LDB head office whilst it has been recently renovated to house CargillsBank. LBT also learns that LDB's head office had now been shifted to No.80, Nawala Road, Nugegoda.

New Bank - Sri Lanka CargillsBank Cargil10

Caption : Renovated office of new CargillsBank

On 7th September 2011 Cargills in a disclosure to Colombo Bourse said that Cargills (Ceylon) PLC (CARG) is launching a new bank named, Cargills Agriculture and Commercial Bank (CACB). That time the notice said that Cargills and C. T. Holdings PLC (CTHR- holding company) as joint promoters had been given provisional approval by the Central Bank to set up the bank, subject to ‘fulfilling routine terms and conditions’.

New Bank - Sri Lanka CargillsBank Cargil11

Later on 30th September 2011 reports revealed proven industry leader Harris Premaratane is to head Cargills Agriculture and Commercial Bank, from 1 January 2012.

Later subsequent to the Central Bank approval, Harris Premaratane, former Managing Director of Sampath Bank, was appointed as Managing Director and Chief Executive Officer of CargillsBank, with effect from January 1 this year.

The move follows Premaratne giving quit notice to Sampath Bank on 29th September from his post as Managing Director of Sampath Bank PLC (SAMP)

Later in June 2012 reports also revealed that the CargillsBank would be set up through a mix of foreign and local investments and partners, as the Central Bank of Sri Lanka is likely to allow Cargills to keep less than 50% of the new bank’s ownership.

Quoting sources from Cargills reports said that foreign parties such as CF Ruffer Funds of UK who had already invested in CT Holdings-the parent company of Cargills and a promoter of the bank, are unlikely to have any investments in the new bank, meaning that the bank will likely be set up in collaboration with an entirely new set of investors.

However that time it was quoted that the headquarters for the new bank would likely be located at the old Lanka Ceramics showroom near Majestic City, Bambalapitiya, which is currently under refurbishment or two other locations in Colombo are also being considered.

The latest Annual Report of CARG outlines that the group will also be investing substantially in the new commercial bank, the Cargills Agriculture and Commercial Bank, which is sponsored by Cargills and our parent company C T Holdings PLC.

(Additional Reporting and Pix by Jithendra Antonio)
http://lbt.lk/news/business/2540-new-bank

2New Bank - Sri Lanka CargillsBank Empty Re: New Bank - Sri Lanka CargillsBank Fri Aug 31, 2012 9:29 pm

anu

anu
Manager - Equity Analytics
Manager - Equity Analytics
In a bit of a saturated market, for a new bank to get established and survive with all the new regulatory requirements is quite a task. Even with a huge tax reduction given by Govt. to banking sector since 2011, still many banks struggle to make a decent profit / YoY growth rate.

Strength: Cargills Food City network, where combank's Minicoms were quite successful.

3New Bank - Sri Lanka CargillsBank Empty Re: New Bank - Sri Lanka CargillsBank Sat Sep 01, 2012 2:05 am

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@anu wrote:In a bit of a saturated market, for a new bank to get established and survive with all the new regulatory requirements is quite a task. Even with a huge tax reduction given by Govt. to banking sector since 2011, still many banks struggle to make a decent profit / YoY growth rate.

Strength: Cargills Food City network, where combank's Minicoms were quite successful.

There will be an opportunity for the growers of vegetables and fruits also paddy to sell directly there harvest with loans obtained from CargilsBank.

Very Happy
TAH

4New Bank - Sri Lanka CargillsBank Empty Re: New Bank - Sri Lanka CargillsBank Sat Sep 01, 2012 2:55 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Yeah, like Tah mentioned this can be a win Win for the direct network of and new farmers dealing with cargills.You get loan and you pay back via produce..These can be initial customers.
Cargills has fantastic growth prospects.But the share is trading at 2014-2015 valuations still. People seems to pay a premium for this future growth.

5New Bank - Sri Lanka CargillsBank Empty Re: New Bank - Sri Lanka CargillsBank Sat Sep 01, 2012 9:54 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Premaratne brings invaluable experience and leadership capablities he acquired in his long stand at Commercial bank.
Then his short tenure at Sampath bank MD position has made the bank a successful venture.

So no wonder Cargills had its eye on a successful person as such caliber..

They should start promoting their bank in Cargills outlets as well. I just recently saw a combank mini branch at Cargills had moved out to a nearby Laughs branch. May be they had the plans in place Wink

6New Bank - Sri Lanka CargillsBank Empty Re: New Bank - Sri Lanka CargillsBank Sat Sep 01, 2012 11:48 am

lakymahesh


Senior Equity Analytic
Senior Equity Analytic
@traderathome wrote:
@anu wrote:In a bit of a saturated market, for a new bank to get established and survive with all the new regulatory requirements is quite a task. Even with a huge tax reduction given by Govt. to banking sector since 2011, still many banks struggle to make a decent profit / YoY growth rate.

Strength: Cargills Food City network, where combank's Minicoms were quite successful.

There will be an opportunity for the growers of vegetables and fruits also paddy to sell directly there harvest with loans obtained from CargilsBank.

Very Happy
TAH

Seriously gud point .. . .

7New Bank - Sri Lanka CargillsBank Empty Re: New Bank - Sri Lanka CargillsBank Sat Sep 01, 2012 2:13 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Targeting the cultivators of vegetables, fruits, paddy & spices including major exports of tea, rubber & coconut will be very attractive venture as public sector has been under performing in agricultural sector.
With the passage of time, extensive & efficient net work throughout country will definitely bring benefits to both cultivators & the end consumers as a result of removing many kinds of brokers.
Financing the farmers specially in remote areas,in time at reasonable rates, would pave the way to create collection center & storage facilities for products that may lead to export oriented process at one stage.

Sponsored content


Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum