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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » What are the groups have more than one NBFI's?

What are the groups have more than one NBFI's?

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Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
VONE?

balapas


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
LOLC group got 3. LOFC, CLC and NIFL

realstock


Senior Equity Analytic
Senior Equity Analytic
No

VONE group hold -LFIN

VALLIBEL groug hold -VALLIBEL FINANCE

VONE , Valibel are different holding companies

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@realstock wrote:No

VONE group hold -LFIN

VALLIBEL groug hold -VALLIBEL FINANCE

VONE , Valibel are different holding companies  

Directors who own controlling shares in more than one NBFI have to arrange a merger between them by June 2014. - Who control the Vallibel Investments (Pvt) Limited

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Sri Lanka is planning to reduce the 58 Non Banking Financial Institutions (NBFI) operating in the Island to just 20 to enhance the sectors resilience to face internal and external shocks, announced Central Bank Governor Ajith Nivard Cabraal.

Accordingly, Central Bank is asking larger NBFI’s to acquire or merge with smaller financial institutions and small NBFIs are being encouraged to merge with one another to create large firms.

Authorities are also encouraging Licensed Banks to acquire NBFIs.

“A corporate group will be allowed to operate only one NBFI after end June 2014″, said Nivard Cabraal.

Central Bank is also asking new investors, banks or large NBFIs to acquire negative net worth NBFIs or selected lowly capitalized financial institutes with the new equity investments made directly into the negative net worth NBFIs or selected lowly capitalized NBFIs in order to supplement the capital of such NBFIs.

“When a new investor makes an equity investment of that nature, a matching long term advance will be made through the Sri Lanka Deposit Insurance and Liquidity Support Scheme on concessionary terms”, announced Cabraal.

Central Bank says when the consolidation process is completed by the year 2018 as planned, each Non Banking Financial Institute will have an asset base of Rs. 20 billion.
www.news360.lk

6What are the groups have more than one NBFI's? Empty NOTICE TO THE PUBLIC Thu Jan 02, 2014 8:39 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Institutions Licensed by the Central Bank of Sri Lanka to take Deposits from the Public (As at 15.10.2013 , in Alphabetical Order)


Licensed Commercial Banks
1. Amana Bank Ltd.
2. Axis Bank Ltd.
3. Bank of Ceylon
4. Citibank, N.A.
5. Commercial Bank of Ceylon PLC
6. Deutsche Bank AG
7. DFCC Vardhana Bank PLC
8. Habib Bank Ltd.
9. Hatton National Bank PLC
10. ICICI Bank Ltd.
11. Indian Bank
12. Indian Overseas Bank
13. MCB Bank Ltd.
14. National Development Bank PLC
15. Nations Trust Bank PLC
16. Pan Asia Banking Corporation PLC
17. People’s Bank
18. Public Bank Berhad
19. Sampath Bank PLC
20. Seylan Bank PLC
21. Standard Chartered Bank
22. State Bank of India
23. The Hongkong & Shanghai Banking
Corporation Ltd.
24. Union Bank of Colombo PLC

Licensed Specialised Banks
1. DFCC Bank
2. Housing Development Finance
Corporation Bank of Sri Lanka
3. Lankaputhra Development Bank Ltd.
4. MBSL Savings Bank Ltd.
5. National Savings Bank
6. Pradeshiya Sanwardhana Bank
7. Sanasa Development Bank PLC
8. Sri Lanka Savings Bank Ltd.
9. State Mortgage and Investment Bank

Licensed Finance Companies
1. Abans Finance PLC
2. Alliance Finance Co. PLC
3. AMW Capital Leasing and Finance PLC
4. Arpico Finance Co. PLC
5. Asia Asset Finance PLC
6. Asian Finance Ltd.
7. Associated Motor Finance Co. PLC
8. Bartleet Finance PLC
9. Bimputh Finance PLC
10. Capital Alliance Finance PLC
11. Central Finance Co. PLC
12. Central Investments and Finance PLC*
13. Chilaw Finance PLC
14. Citizens Development Business
Finance PLC
15. City Finance Corporation Ltd.
16. Commercial Credit and Finance PLC
17. Commercial Leasing and Finance PLC
18. Deshodaya Development
Finance Co. Ltd.
19. ETI Finance Ltd.
20. George Steuart Finance PLC
21. Ideal Finance Ltd.
22. Indra Finance Ltd.
23. Kanrich Finance Ltd.
24. Lanka ORIX Finance PLC
25. LB Finance PLC
26. Melsta Regal Finance Ltd.
27. Mercantile Investments and
Finance PLC
28. MCSL Financial Services Ltd.
29. Multi Finance PLC
30. Nanda Investments and Finance PLC
31. Nation Lanka Finance PLC
32. Orient Finance PLC
33. People’s Leasing & Finance PLC
34. People’s Merchant Finance PLC
35. Prime Grameen Micro Finance Ltd.
36. Richard Pieris Arpico Finance Ltd.
37. Senkadagala Finance PLC
38. Singer Finance (Lanka) PLC
39. Sinhaputhra Finance PLC
40. Siyapatha Finance Ltd.
41. Softlogic Finance PLC
42. Swarnamahal Financial Services PLC
43. The Finance Co. PLC
44. The Standard Credit Finance Ltd.
45. TKS Finance Ltd.
46. Trade Finance & Investments PLC
47. UB Finance Co. Ltd
48. Vallibel Finance PLC
* Managed by the Managing Agent appointed by the Central Bank of Sri Lanka and undergoing restructuring. In the meantime, deposits mobilisation has been suspended.

Matters to Keep in Mind

* The Central Bank is authorized to regulate and supervise the above named institutions in order to promote prudence in their business operations and thereby safeguard the deposits of the public. However, the Central Bank does not have legal authority to guarantee deposits or assure that any such institution will never fail. The Central Bank has introduced a Deposit Insurance Scheme to guarantee the repayment of deposits upto Rs.200,000 per depositor in the event of a failure of a bank or a finance company supervised by it, with effect from 1st January 2012.
* When depositing money in any of the above institutions, please exercise due care for the safety of your deposits.
Institutions Licensed by the Central Bank of Sri Lanka to take Deposits from the Public

Central Bank of Sri Lanka
Banks - Tel: 2477100, 2477120, 2477129, 2398539 Fax: 2477711 Email: banksup@cbsl.lk
Finance Companies - Tel: 2477500, 2477504 Fax: 2477738 Email: secdsnbfi@cbsl.lk
http://www.cbsl.gov.lk/pics_n_docs/01_home/docs/banner_2_e.pdf

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