People’s Bank records all-time high pre-tax profit of Rs.28 bn in 1H-2025
View(s):People’s Bank, Sri Lanka’s leading financial services provider, this week announced its results for the period ended June 30, 2025, reporting operating income of Rs. 80.8 billion and post-tax profit of Rs. 18.2 billion. This achievement is particularly noteworthy, as this profit was recorded after recognising significant impairment charges on exposures to several state-owned enterprises (SOEs), the state bank said in a media release.
The bank’s net interest income rose to Rs. 69.3 billion during the period, compared to Rs. 27.6 billion in the corresponding period of 2024, reflecting the timely repricing of assets and liabilities in line with changing market interest rates. Consequently, net interest margins improved to 4.0 per cent in 2025 from 3.4 per cent in the end 2024. Net fees and commissions reached Rs. 8.0 billion, recording a 16.8 per cent growth, the highest ever for the same period. Total operating expenses stood at Rs. 33.4 billion (2024: Rs. 28.7 billion)
Customer deposits reached Rs. 3,125.3 billion (end-2024: Rs. 2,854.7 billion), while net loans stood at Rs. 1,592.3 billion (end-2024: Rs. 1,522.0 billion). Total assets rose to Rs. 3,571.8 billion on a solo basis (end-2024: Rs.3,297.8 billion).
Commenting on the results, Chairman of People’s Bank, Prof. Narada Fernando, said: “We are pleased to report a historic and record performance for the first half, reflecting the sustained momentum since 2024 and the continued progress we have made across multiple fronts. This achievement underscores our strong position as an independent state institution, well-equipped to make meaningful contributions to the government’s broader agenda of strengthening the national economy. Our focus extends well beyond profitability.”
The bank’s CEO/General Manager Clive Fonseka added: “Importantly, this record-breaking performance was achieved despite a significant reduction in our exposure to State-Owned Enterprises (SOEs). The exposure to SOEs declined to 26.5 per cent by the end of 1H of 2025, from 42.8 per cent at the end of 1H of 2024. Our strategic pivot towards the private sector successfully offset the decline in SOE business volumes, enabling us to mitigate potential negative impacts.”
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