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| Sunday, 20 July 2003 |
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NSB reports overall growth The National Savings Bank (NSB) has surpassed the Rs. 150 billion mark in deposits mobilisation its chairman D. M. Swaminathan announced recently. He stated that the bank mobilised Rs. 14,950 million in deposits during the first half of 2003 as against Rs. 4,916 million in the corresponding period for 2002, an increase of 200 per cent. The target mobilisation for this period was Rs. 6,840 million. NSB surpassed this target by over 100 per cent during the first half of 2003. The total deposits base, which stood at Rs. 124 billion as at end June 2002, has increased by 20 per cent year-on-year to record a total of Rs. 150 billion. Swaminathan further emphasised that the bank will continue to add value to its products and services to maintain the growth momentum. NSB made a pre-tax profit of Rs. 1.9 billion in the first half of 2003 compared to the Rs. 0.6 billion recorded in the corresponding period in 2002. Debentures, IPO oversubscribed HNB Debentures 2003 HNB Debentures 2003, the issue of unsecured subordinated redeemable debentures by Hatton National Bank, was oversubscribed last week. The issue consisted of 15 million unsecured subordinated redeemable debentures of a par value of Rs 100 with the option to issue a further five million debentures in the event of an oversubscription, with a total cumulative value of Rs 2 billion. As the 15 million debentures were fully subscribed on the opening day, HNB exercised its option to raise a further Rs 500 million by issuing the additional five million debentures, which were oversubscribed last week. Ceylon Leather IPO The Initial Public Offering (IPO) of Ceylon Leather Products Limited was oversubscribed on July 17, the day after the issue opened, manager to the issue, Merchant Bank of Sri Lanka said. The IPO consisted of 2.5 million ordinary shares at Rs 10 per share. The issue was scheduled to close on August 4, but was closed last week due to oversubscription, the bank said. Variety of Lexmark printers launched in Colombo Lexmark International, the company with a passion for printing, has designed solutions for every part of the office and for every corner of the world. Since it was launched in 1991, Lexmark's commitment to innovation, ownership of technology and the path to its markets have been the ingredients of operational and financial success. Addressing a media briefing before the launch of Lexmark's new products in Colombo, Ng Chee Soon, Managing Director (ASEAN and South Asia) Lexmark International (S) Pte Ltd, said the company is a single-focus provider of printing solutions and services. The company has won more than a thousand awards and has an annual revenue of over $4 billion. It is present in 150 countries and has over 13,000 employees. Lexmark is focused on printing solutions which gives customers the expertise and flexibility to meet all their needs. The company launched a variety of printers in Colombo. According to Vu Tran, Product Marketing Manager (Printing Solution and Services Division) for ASEAN and South Asia, Lexmark has launched innovative borderless photo printing for the SOHO market. Introducing some of the products in Colombo, Tran said that Lexmark P707 is bundled with software to make it simpler for customers to edit photos. (PJ) |
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