Economic Capsule June 2011

Economic Capsule June 2011 Research & Development Unit

C o n t e n t s ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Research & Development Unit

Financial Sector N e w s Research & Development Unit

[object Object],[object Object],[object Object],ComBank - Best Sri Lankan Trade Bank Once Again ! Research & Development Unit

ComBank Commences Sharia Compliant Banking Commercial Bank launched ‘Sharia Compliant Banking’ to better serve an important segment of its customer base that requires Sharia-compliant financial products based on Islamic principles. Commercial Bank’s Islamic Banking Unit would initially be located on the fourth floor of its headquarters building at No 21, Bristol Street, Colombo 01, but the products would later be made accessible to customers visiting branches via the bank’s sophisticated IT system. Services Offered: Mudaraba - Profit Sharing Investment Musharaka - Joint Ownership Murabaha - Trade Financing Ijara - Islamic Leasing Diminishing Musharaka - Financing of Assets For further details + 94 11 2 486 072-5 Research & Development Unit

ComBank Introduces Tri-lingual Mobile Application Commercial Bank introduced a new mobile banking application to its portfolio of innovative customer-access products. The new application which will be initially available to Commercial Bank account-holders with Dialog, Airtel and Etisalat mobile phone connections with GPRS facility enabled in their phones, can be accessed through a menu available in English, Sinhala and Tamil. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Bank expects to introduce further value additions to the mobile banking facility in the near future. These will include services enabling customers to remit funds, block lost/stolen cards, order bank statements and cheque books, get information on the status of deposited cheques and access Commercial Bank’s ATM/Branch locator. Commercial Bank's internet banking facilities are also to be shortly offered via a Wireless Application Protocol (WAP) portal For further details + 94 11 4 935536/7 Research & Development Unit

Commercial Bank to take Gold Loans Country-wide ,[object Object],[object Object],[object Object],This new thrust into Gold Loans is backed by a commitment to offer up to 80 % of the gold value, in the form of jewellery, biscuits or bars, and a lower-than-average interest rate of 14 % per annum (1.16 % per month) on the advances. The minimum advance offered by Commercial Bank as a Gold Loan would be Rs 10,000, making the facility viable for a wide segment of the populace. A choice of terms of six months or one year for repayment and redemption of the gold would be available to customers. For more info: http://www.combank.lk/newweb/personal/loans?product=Personal-Pawning Research & Development Unit

More Great Discounts with ComBanks Dine and Smile ! Promo period : 19 th June to 31 st August 2011 Eligible cards : All Credit and Debit cards of ComBank Discount percentage : 25% on the bill for Dining (Only @ "Pizza hut " the discount will be available for Dining as well as Takeaway and Delivery.) Restaurants : Ceylon Continental (Tandoori & The Emerald restaurants) , Pizza Hut, Barista Lavazza, Loon Tao - College Avenue, Mount Lavinia , Raja Bojun - Galle Road, Colombo 3 , Urban Kitchen - Hyde Park Corner, Colombo 2 , Jack Tree - Park Road, Colombo 5 , Mango Tree - Dharmapala Mw, Colombo 3 , Prima Taste Restaurant – Rajagiriya , Bars Café - Deal Place, Colombo 3 , Oak Ray Restaurant – Kandy , Senani Restaurant – Kandy , Devons Captains Table – Kandy. Conditions apply Minimum bill value: Rs. 500/- For more info: http://www.combank.net/newweb/info/192 Research & Development Unit

Branch Openings 198 Nittabuwa Nihal Super Market, No. 638, New Bus Stand, Nittambuwa. Research & Development Unit

Economic & Business N e w s Research & Development Unit

Sri Lanka Gets USD 236mn FDIs in 1Q, 2011 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC 2009 2010 1Q, 2011 2011* 2015* Amount (USD Mn) 601 516 236 1,000 2,500 Research & Development Unit

Issue of 3 year and 4 year SLDBs ,[object Object],[object Object],The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC Amount USD 100 mn Interest Rate USD 6 month LIBOR + a margin to be determined through competitive bidding Total Bids Received USD 134.5 mn Bids Accepted by Govt. ,[object Object],[object Object],[object Object],Purpose To be used to settle maturing SLDBs of USD 125.8 mn Research & Development Unit

Sri Lanka Records 2011 - 1Q GDP Growth of 7.9 % ,[object Object],[object Object],[object Object],The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC Research & Development Unit

Sri Lanka Tourist Arrivals up 39 % in May 11 Tourist arrivals to Sri Lanka rose 39% to 48,943 in May 2011 from a year earlier, led by increases in visitors from India and East Asia. In the five months to May arrivals rose 40.2 % to 327,902 from a year earlier. Source: Sri Lanka Tourism Development Authority The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC Tourist Arrivals by Country of Residence Jan - May 2010 2011 % Cha. North America 14,319 17,711 23.7 Canada 7,683 9,044 17.7 USA 6,636 8,667 30.6 Latin America & Caribbean 261 459 75.9 Western Europe 94,369 129,367 37.1 France 11,999 22,335 86.1 UK 38,725 41,474 7.1 Germany 19,618 23,065 17.6 Eastern Europe 15,913 19,919 25.2 Russia 5,782 7,400 28.0 Africa 674 1,137 68.7 Middle East 11,146 15,958 43.2 East Asia 24,294 34,504 42.0 China 3,838 7,481 94.9 Japan 5,350 6,706 25.3 Malaysia 4,515 5,972 32.3 Singapore 3,608 5,300 46.9 South Asia 61,726 93,139 50.9 India 44,549 68,830 54.5 Maldives 12,633 15,624 23.7 Australia 11,220 15,708 40.0 Australia 10,026 13,933 39.0 Research & Development Unit

Movements of the CCPI – June 2011 (Base: 2006/07 = 100) (New Index) ,[object Object],[object Object],[object Object],[object Object],The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC Period CCPI (%) CCPI Core (%) Y-o-Y A.A. Y-o-Y A.A. May, 2011 8.2 6.6 8.4 6.9 June, 2011  7.1  6.7  8.7  7.1 Research & Development Unit

Sri Lanka seen Luring Back Apparel Buyers Sri Lanka has begun luring back foreign apparel buyers who shifted to other Asian producers following the global economic crisis . ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC Research & Development Unit

CBSL Designates Chinese “Renminbi” for Banking Transactions in Sri Lanka ,[object Object],[object Object],[object Object],China is recognized today as the world’s second largest economy, while also being a leading player in international trade, investments, and foreign reserves. It also enjoys extensive economic connections with many countries, as a result of which the Renminbi has been gradually evolving as a globally acceptable currency. Since Sri Lanka too has a growing volume of trade and investments transactions with China, the use of the Chinese currency, Renminbi, in banking transactions would significantly facilitate such trade and investments. The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC Research & Development Unit

[object Object],[object Object],CBSL Appoints Lead Managers to the Bond Issue Sri Lanka to get USD 1.5 bn from China Development Bank ,[object Object],[object Object],[object Object],[object Object],The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC Research & Development Unit

Interest Rates Must Rise Worldwide – BIS ,[object Object],[object Object],[object Object],[object Object],In Sri Lanka the low interest rate scenario can be expected to prevail for the greater part of 2011. However, interest rates are expected to go up towards the end of 2011. The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC Sri Lanka Date of Change Repo (%) RRepo (%) 23.02.2007 10.50 12.00 11.02.2009  10.25  11.75 22.04.2009  9.00 - 21.05.2009 -  11.50 16.06.2009  8.50  11.00 11.09.2009  8.00  10.50 18.11.2009  7.50  9.75 12.07.2010  7.25  9.50 20.08.2010  7.25  9.00 11.01.2011  7.00  8.50 Research & Development Unit

[object Object],[object Object],[object Object],India Hikes Interest Rates by 25 Basis Points CBSL lending rates to banks : - 8.5% The rate CBSL pays to banks for deposits - 7.0% FED Cuts its US Economic Growth Forecast ,[object Object],[object Object],[object Object],Sri Lanka Growth Forecast 2011: 8 % - 8.5 % S&P Makes Greece its Least Credit-Worthy Country Sri Lanka’s S&P Rating: B+ French 11’ Debt Outlook Raised to 85.4% of output Sri Lanka’s Public Debt Projection 2011: 80% of GDP ,[object Object],[object Object],[object Object],[object Object],The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC Research & Development Unit

Greece Adopts Austerity Bill ,[object Object],[object Object],Christine Lagarde Named IMF Chief ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC Research & Development Unit

Mild Slowdown of the Global Expansion, and Increasing Risks - IMF ,[object Object],[object Object],[object Object],[object Object],1. Indonesia, Malaysia, Philippines, Thailand, and Vietnam. 2. Simple average prices of U.K. Brent, Dubai, and West Texas Intermediate crude oil per barrel. 3. Six-month rate for the United States & three-month rate for the euro area. Overview of the World Economic Outlook - IMF The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC Projections 2010 2011 2012 World Output 5.1 4.3 4.5 Advanced Economies 3.0 2.2 2.6 United States 2.9 2.5 2.7 Euro Area 1.8 2.0 1.7 Germany 3.5 3.2 2.0 France 1.4 2.1 1.9 Italy 1.3 1.0 1.3 Spain -0.1 0.8 1.6 Japan 4.0 -0.7 2.9 United Kingdom 1.3 1.5 2.5 Emerging & Developing Economies 7.4 6.6 6.4 Russia 4.0 4.8 4.5 Developing Asia 9.6 8.4 8.4 China 10.3 9.6 9.5 India 10.4 8.2 7.8 ASEAN-5 1 6.9 5.4 5.7 Brazil 5.5 4.7 4.0 Oil Prices (USD) 2 79.03 106.3 105.25 Consumer Prices Advanced Economies 1.6 2.6 1.7 Emerging & Developing Economies 6.1 6.9 5.6 London Interbank Offered Rate (%) 3 On US Dollar Deposits 0.5 0.6 0.6 On Euro Deposits 0.8 1.7 2.6 Research & Development Unit

The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC The information contained in this presentation has been drawn from sources that we believe to be reliable. However, while we have taken reasonable care to maintain accuracy/completeness of the information, it should be noted that Commercial Bank of Ceylon PLC and/or its employees should not be held responsible, for providing the information or for losses or damages, financial or otherwise, suffered in consequence of using such information for whatever purpose. The chief cause of failure and unhappiness is trading what you want most - for what you want right now. Zig Ziglar Research & Development Unit

Economic Capsule June 2011

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Economic Capsule June 2011