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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ »  GOOD NEWS FOR FINANCE COMPANIES

GOOD NEWS FOR FINANCE COMPANIES

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1  GOOD NEWS FOR FINANCE COMPANIES Empty GOOD NEWS FOR FINANCE COMPANIES Fri Apr 28, 2017 2:03 pm

ONTHEMONEY


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Sri Lanka rules may boost capital, mergers for small NBFIs: Fitch   
The new regulations issued by Sri Lanka’s Central Bank to increase minimum core capital levels for all licensed finance companies could spur small companies to improve their capital buffers and may reignite industry consolidation, says Fitch Ratings.


Fitch believes the new directive is likely to address the need for higher capital buffers for the non­bank financial institutions (NBFI) sector as a whole to ensure financial system stability, given our expectation of a deterioration in asset quality and capitalisation in the sector following aggressive loan book growth in recent years and persistent weak operating conditions. 


The Central Bank of Sri Lanka issued a directive in February 2017 requiring all licensed finance companies to increase their minimum core capital levels to Rs.2.5 billion by end­2020 in stages from the current Rs.400 million, with the first target of Rs.1 billion to be reached by January 1, 2018. . 


http://www.dailymirror.lk/

2  GOOD NEWS FOR FINANCE COMPANIES Empty Re: GOOD NEWS FOR FINANCE COMPANIES Sat Apr 29, 2017 4:01 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Leading finance companies (few) will comply with the stipulated amount of Rs.2.5b from 400m in next three years. What would be result for companies that do not meet the CB directive for some reasons.
It seems that the new requirement indirectly forces for small financing firms to get merged with others.

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