What's up with CDB any help please?

yaka · 1 What's up with CDB any help please? Thu Mar 07, 2013 3:48 pm

yaka

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i thought its a bank but its not in Fitch ratings or any other ratings.im sorry im new or these stuff

Gaja · 2 Re: What's up with CDB any help please? Thu Mar 07, 2013 4:06 pm

Gaja

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yaka wrote:i thought its a bank but its not in Fitch ratings or any other ratings.im sorry im new or these stuff

Its not a bank, CDB Stands for Citizens Development Business

rainmaker · 3 Re: What's up with CDB any help please? Thu Mar 07, 2013 4:15 pm

rainmaker

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Everyone in the pre IPO discussion also thought it was a bank. At the time we felt that they wanted an ipo price based on it "being a bank" to get a rough idea. Then someone looked up the Central Bank website and found this. The only finance company to say "bank" which contravenes the Companies Act as the name "Bank" cannot be used in a Company title. So they asked a director for clarification and it was a finance company not a bank. Shocked

http://www.cbsl.gov.lk/pics_n_docs/02_prs/_docs/notices/notice_20090115e.pdf

Here's the story:

During the UNP time (when CBK was the boss) Ceylinco managed to get a banking licence Suspect

That licence belonged to CSB - Ceylinco Savings Bank. However CDB traded under the name Ceylinco Development Bank (CDB) Suspect

The marketing promotion articles also went as follows:
http://www.dailynews.lk/2004/07/30/bus07.html

Here is the debenture issue in 2005. In the speech LK calls it a bank.
http://www.island.lk/2005/05/10/business4.html

sampathpf · 4 Re: What's up with CDB any help please? Thu Mar 07, 2013 5:32 pm

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Updated List
Pl visit http://www.cbsl.gov.lk/pics_n_docs/01_home/docs/banner_2_e.pdf

knockknobbler · 5 Re: What's up with CDB any help please? Thu Mar 07, 2013 7:45 pm

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rainmaker wrote:Everyone in the pre IPO discussion also thought it was a bank. .......

Thanks, very much.
It's really good to have this past information .
A cardinal rule to follow is .... to check the history of the company ,if the stock code begins with "C" or "S" , because most in the financial services industry are bankrupt Ceylinco /Seylan group companies , now under different names. .

Last edited by knockknobbler on Thu Mar 07, 2013 7:48 pm; edited 1 time in total (Reason for editing : added ; now under diffrent names)

yaka · 6 Re: What's up with CDB any help please? Thu Mar 07, 2013 10:58 pm

yaka

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thnx guys for your helping hand. Very Happy

Harry82 · 7 Re: What's up with CDB any help please? Fri Mar 08, 2013 6:59 am

Harry82

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yaka,
EPS for 9 month Rs 7.45
Year end can expect Rs 12 - 13.
Net asset per share Rs 48.80
RAM ratind BBB/P2
Deposit 15.5 Bn
Subsidiary of ceylinco Insurance( The leader in life insurance)
Can expect a divident Rs 2 - 3
very much under valued.
Reasonable price around Rs 45(voting) 35 non voting

Harry82 · 8 Re: What's up with CDB any help please? Sat Mar 09, 2013 1:01 pm

Harry82

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Enriching people’s life through extension of financial services.
ProductsMeeting the needs of a fluctuating economy is an arduous task. CDB believes in adapting to change to meet the requirements of the people. Therefore, services offered by us are customised to suit your individual conditions. Along with all of our products, CDB offers competitive rates, flexible terms, and a courteous and efficient customer service. CDB is able to assist you in the following categories:

Finance (Leasing/ Hire Purchase)
3-Wheeler Leasing
Business Loans
Housing Loans
Pawning
Fixed Deposits
Money Exchange
Fixed Deposits – “Dhana Surekum”
Fixed Deposits – “Aee”
Finance (Leasing/Hire Purchase)
3W Leasing (Three Wheeler)
Pawning
Fixed Deposits – “Deeghayu”
Along with our products, we offer:
Competitive rates and flexible terms
Extended amount of time to settle the amount
Courteous and efficient customer service
Less documentation requirement

cseguide · 9 Re: What's up with CDB any help please? Wed Mar 13, 2013 11:33 am

cseguide

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knockknobbler wrote:

rainmaker wrote:Everyone in the pre IPO discussion also thought it was a bank. .......

Thanks, very much.
It's really good to have this past information .
A cardinal rule to follow is .... to check the history of the company ,if the stock code begins with "C" or "S" , because most in the financial services industry are bankrupt Ceylinco /Seylan group companies , now under different names. .

It is really misleading new comers,
COMB- commercial bank
Samp- sampath bank
Cfin- central finance
comes to my mind. they are very strong companies

knockknobbler · 10 Re: What's up with CDB any help please? Wed Mar 13, 2013 12:33 pm

knockknobbler

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cseguide wrote:

knockknobbler wrote:

rainmaker wrote:.

.

It is really misleading new comers,
COMB- commercial bank
Samp- sampath bank
Cfin- central finance
comes to my mind. they are very strong companies

Sorry, my intention was not to mislead anyone, just to make a cautionary note.
there were no. of ceylinco/Seylan group companies in financial services ,some of which were listed ( now appears in different names ,without Ceylinco /Seylan tag...)
- Seylan Merchant Bank
- seylan Merchant Leasing
- Ceylinco Development Bank
- Ceylinco Seylan development
- Finance & Gurantee
- Golden Key Credit card company