Banking

Combank rewards 'Combank Online' customers

The second set of winners of Commercial Bank's 'Combank Online' banking service was rewarded with Samsung mobile phones and tabs under a promotion that ended recently.

The Bank presented a Samsung Galaxy Note II, Samsung Galaxy S III and a Samsung Galaxy Tab 2 to the top three among this batch of winners, while 10 others won consolation prizes of Galaxy Music Duos mobile phones.

In all, Commercial Bank undertook to present 39 mobile phones and tabs to online banking customers who registered for Combank Online Banking or completed a transaction online during the promotion period.

The promotion was conducted to celebrate the re-launch of the Bank's Online Banking platform, based on the Microsoft .net Framework. Offering exceptionally user-friendly menus and benchmark security and encryption features, the new Online Banking platform puts customers in control, and requires less intervention by the Bank.

Commercial Bank's Online Banking platform supports bill payments to more than 36 entities in nine categories Telephone, Electricity, Water, Credit cards, Insurance, Pay TV, Schools, Rates and Other. Investing in Treasury Bills and effecting payments for share trading transactions is also possible, with self-registration of the users CDS number.

The largest private bank in Sri Lanka, Commercial Bank is the only Sri Lankan Bank to be listed two years consecutively in the world's Top 1000 Banks. The Bank operates a network of 231 service points in Sri Lanka and a network of 563 ATMs, the single largest ATM network operated by a bank in the island. The Bank has been adjudged 'Best Bank in Sri Lanka' for 15 consecutive years by 'Global Finance' Magazine, and has won multiple awards as the country's best bank from 'The Banker,' 'FinanceAsia' Euromoney' and 'Trade Finance' magazines.

People's Bank CBD carries out New Year Customary Transactions

The People's Bank Corporate Banking Division, carried out new year customary transactions with their customers at the branch premises on Sunday 14, under the patronage of Jayantha Newunhella, Deputy General Manager (International Banking) and with other senior officers of the staff.

Being the pioneer of this tradition of transacting at the auspicious time on Sinhala/Tamil New Year day with their customers in the banking industry, the People's Bank proudly celebrates this occasion in every nook and corner of the island annually.




 

Lloyds bank reveals collapse of deal to sell branches

Britain's part-nationalised Lloyds Banking Group on Wednesday said a deal agreed last year to sell 632 branches at a loss to The Co-operative Group had collapsed, adding that it would now float the so-called Project Verde division on the stock market.

"The group has been informed that, despite the commitment of both parties to the transaction, The Co-operative Group's board has decided that they can no longer proceed with a purchase of the Verde business given their view of 'the impact of the current economic environment, the worsened outlook for economic growth and the increasing regulatory requirements on the financial services sector in general," LBG said in a statement.

The lender added that it "now intends to divest Verde through an initial public offering (IPO), having maintained this option throughout the process in order to ensure best value for our shareholders and certainty for our customers and colleagues.

"It is expected that the IPO will be subject to regulatory and EC approval, and an update on the timing of an IPO will be given in due course." Lloyds said plans were in place for a rebranding of the Verde business as TSB later this year, "at which point the TSB Bank will operate as a separate business within Lloyds Banking Group".

LBG was born out of a merger of Lloyds TSB and rival British lender HBOS in the wake of the 2008 financial crisis.

In a bid to turn around its fortunes, LBG had last July agreed to sell the 632 branches to The Co-operative Group after an EU competition ruling.

AFP