People’s Bank’s pretax profit of Rs.17.7 bn for Q1 ’25
View(s):People’s Bank this week reported total consolidated operating income of Rs.45.1 billion and post-tax profit of Rs.11.0 billion for 1stQ2025 , reflecting a growth of 120.8 per cent and 347.2 per cent, respectively from the previous year.
Consolidated net interest income rose to Rs.38.6 billion during the said period from Rs.16.1 billion in the comparable period in 2024 – reflecting timely pricing of assets and liabilities in line with changing market interest rates. As a result, consolidated net interest margins improved to 4.3 per cent in 2025 from 2.0 per cent in 2024, the bank said in a media release.
Total consolidated customers’ deposits reached Rs.3,106.5 billion (end 2024: Rs.2,947.9 billion) whilst net loans were Rs.1,689.4 billion (end 2024: Rs.1,665.0 billion). Total consolidated assets reached Rs.3,648.7 billion (end 2024: Rs.3,471.7 billion).
Chairman of People’s Bank, Prof. Narada Fernando, said in his comments: “The stabilisation and normalisation of previously stressed areas within core banking functions underscore the significant strides we have made internally. With many of these institutional challenges now effectively addressed, we remain well-positioned to contribute meaningfully to the government’s broader agenda to strengthen the national economy.”
Commenting on the results, the bank’s CEO/ General Manager, Clive Fonseka, stated that: “I am proud to share that the results for the first quarter represent the highest performance in our institution’s history – a clear reflection of our collective determination and ability to achieve meaningful progress even in the face of many challenges. This is an ultimate testament to the team’s extraordinary resilience, adaptability, and an unwavering commitment to growth across all aspects of business operations.”
The bank said the success stems from an unrelenting focus on enhancing operational efficiency, consciously and very diligently elevating the customer experience, and making deliberate strategic investments in technology. These pillars have not only fortified the bank’s foundation but also positioned it to swiftly respond to changing market dynamics, refine its services, and – through which – deliver sustained value to all its stakeholders.
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