ComBank creates history with assets of Rs. 3 tn
View(s):The Commercial Bank of Ceylon has become the first private sector bank in Sri Lanka to surpass Rs. 3 trillion in assets, a milestone achieved in the second quarter of 2025 on the back of solid growth in key indicators at Group and Bank level in the six months ending June 30.
The group reported that its assets totalled Rs. 3.13 trillion, and Commercial Bank’s assets reached Rs. 3.03 trillion at the end of the period reviewed, growing by Rs. 255 billion (8.88 per cent) and Rs. 242 billion (8.66 per cent) respectively over six months.
A bank media release said group gross income for the six months grew by 8.53 per cent to Rs. 177.04 billion, while interest income improved by 5.31 per cent to Rs. 146.65 billion. Interest expenses reduced by 3.48 per cent to Rs. 77.84 billion, resulting in net interest income growing by 17.39 per cent to Rs. 68.81 billion.
Group pre-tax profit for the second quarter alone was up 95.94 per cent to Rs. 24.26 billion, while net profit for the quarter grew by 100.15 per cent to Rs. 16.19 billion. Taken separately, Commercial Bank of Ceylon PLC reported a profit before tax of Rs. 45.24 billion and profit after tax of Rs. 30.05 billion for the six months, posting growths of 61.47 per cent and 66.05 per cent, respectively.
Commenting on these results, Commercial Bank Chairman Sharhan Muhseen said: “Our first half performance has been extremely encouraging. We have clearly built on the momentum of the first quarter to record an even stronger second quarter.”
Commercial Bank Managing Director/CEO Mr Sanath Manatunge said the results achieved by the group and the bank reflect the close attention accorded to core banking indicators, ensuring that all income streams are nurtured and consolidated in tandem with balance sheet growth, with continuing prudential provisioning for potential changes in the external landscape.
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