SenFin Research – News Updates – 15 May 2026

Sri Lanka proposes tougher action against tax defaulters
Sri Lanka is set to strengthen enforcement of its tax laws through proposed amendments that would allow authorities to prosecute taxpayers who fail to register, file returns or respond to official notices, tax experts said
Source: (Daily Mirror) https://www.dailymirror.lk/business/Sri-Lanka-proposes-tougher-action-against-tax-defaulters/215-340293

Bilateral trade: Türkiye talks focus on trade, investment, tourism
The meeting focused on exploring new avenues for bilateral trade and investment cooperation between Sri Lanka and Türkiye, according to the statement, with the objective of further enhancing the mutually agreed bilateral trade target of $ 500 million under the Türkiye-Sri Lanka Joint Economic Cooperation framework.
Source: (the morning) https://www.themorning.lk/articles/GRsfgElzez5Y9yhoFdVr

Hoteliers warn proposed Tourism Act will trigger severe red tape and two-year industry stagnation
The formal hospitality sector has strongly pushed back against the government’s proposed new Tourism Act, warning that repealing the existing legislation will strangle the industry with fresh layers of bureaucracy and trigger a crippling two-year period of legislative stagnation.
Source: (Daily Mirror) https://www.dailymirror.lk/business/Hoteliers-warn-proposed-Tourism-Act-will-trigger-severe-red-tape-and-two-year-industry-stagnation/215-340294

Sri Lanka rupee depreciation driven by global trends, CBSL governor claims
The recent depreciation of the Sri Lanka rupee is a reflection of shifting global market conditions rather than internal economic mismanagement, central bank governor Nandalal Weerasinghe insisted, but admitted intervening to prevent excessive swings.
Source: (economynext) https://economynext.com/sri-lanka-rupee-depreciation-driven-by-global-trends-cbsl-governor-claims-271366/

Sri Lanka Treasury bill yields drop, all bills sold
Sri Lanka’s Treasury bill yields dropped across maturities at Wednesday’s auction, data from the Public Debt Management Office showed, with all offered 80 billion rupees bills sold.
Source: (economynext) https://economynext.com/sri-lanka-treasury-bill-yields-drop-all-bills-sold-271530/

No spot quote for Sri Lanka rupee; bond yields edge up
No spot quote was given for Sri Lanka’s rupee on Thursday, dealers said. The rupee was quoted at 326.00/327.00 to the one week US dollar on Wednesday. Meanwhile bond yields edged up slightly.
Source: (economynext) https://economynext.com/no-spot-quote-for-sri-lanka-rupee-bond-yields-edge-up-271542/

Sri Lanka stocks close down, capital goods lead turnover
Sri Lanka’s Colombo Stock Exchange closed down on Thursday, CSE data showed.
Source: (economynext) https://economynext.com/sri-lanka-stocks-close-down-capital-goods-lead-turnover-271499/

ComBank Group’s assets cross Rs. 3.5 Tn. in 1Q – 2026
The Commercial Bank of Ceylon PLC and its subsidiaries have become the first private sector banking group in Sri Lanka to exceed Rs. 3.5 trillion in assets, one of several achievements in a milestone- studded first quarter of 2026.
Source: (Daily News) https://dailynews.lk/2026/05/15/business/995203/combank-groups-assets-cross-rs-3-5-tn-in-1q-2026/

Pan Asia Bank records highest ever quarterly deposits and advances growth in Q1 2026
Pan Asia Banking Corporation PLC delivered a robust financial performance in the first quarter of 2026, demonstrating resilience amid a volatile global macroeconomic landscape influenced by ongoing geopolitical tensions in the Middle East. Despite these external pressures, the Bank recorded a Profit Before Tax (PBT) of Rs. 1.65 billion and a Profit After Tax (PAT) of Rs. 1.05 billion, reflecting disciplined financial stewardship, operational consistency, and effective risk management. During the quarter, interest income increased by 18%, while interest expenses grew by 23%
Source: (Daily News) https://dailynews.lk/2026/05/15/business/995206/pan-asia-bank-records-highest-ever-quarterly-deposits-and-advances-growth-in-q1-2026/

HNB reaches Rs 2.5 Tn asset milestone, marking a strong start to 2026
Against a backdrop of heightened economic volatility, the Bank recorded a Profit After Tax (PAT) of Rs 9.95 Bn in Q1 2026, reflecting disciplined balance sheet expansion and sustained improvements in asset quality. At Group level, performance remained resilient, with PAT reaching Rs 10.35Bn for the quarter.
Source: (Daily News) https://dailynews.lk/2026/05/15/business/995209/hnb-reaches-rs-2-5-tn-asset-milestone-marking-a-strong-start-to-2026/

Cargills Bank reports weaker March quarter as other income slumps
Cargills Bank PLC reported a significant drop in quarterly earnings for the three months ended March 2026, as a steep decline in investment-related income offset stronger core banking performance driven by loan growth and wider interest margins.
Source: (Daily Mirror) https://www.dailymirror.lk/business/Cargills-Bank-reports-weaker-March-quarter-as-other-income-slumps/215-340292

Vidullanka acquires 49% stake in Storex to expand into BESS sector
Vidullanka has entered Sri Lanka’s emerging battery energy storage systems (BESS) sector through a strategic investment in Storex (Pvt.) Limited, committing around Rs.2 billion for a 49 percent equity stake in the company.
Source: (Daily Mirror) https://www.dailymirror.lk/business/Vidullanka-acquires-49-stake-in-Storex-to-expand-into-BESS-sector/215-340282

Janashakthi Life records 42% GWP growth to Rs.2.6bn
Janashakthi Life commenced the financial year 2026 on a strong footing, delivering robust results across key financial and operational indicators for the quarter ended.
Source: (Daily Mirror) https://www.dailymirror.lk/business/Janashakthi-Life-records-42-GWP-growth-to-Rs-2-6bn/215-340284

Financial: Nations Trust Bank records PAT of Rs. 4.6 b
Nations Trust Bank PLC (NTB) delivered a profit after tax (PAT) of Rs. 4.6 billion for the first three months ended 31 March 2026, marking a 12% year-on-year increase.
Source: (the morning) https://www.themorning.lk/articles/FmZQzdLDp7U2fNztTPTw