People’s Bank achieves massive Rs. 40.2 bn profit
View(s):This landmark achievement underscores the bank’s exceptional stability and its pivotal role as a driver of national economic activity. Despite the external challenges posed by Cyclone Ditwah during the year, the bank utilised proactive business continuity measures and prudent risk management to limit financial impact and deliver these record-breaking results, it said in a media statement.
Operating income rose by 32.5 per cent to Rs. 165.8 billion, while net interest income grew by 32.8 per cent to Rs. 142.4 billion. This growth lifted the net interest margin to 4.1 per cent, up from 3.4 per cent in the previous year.
The bank’s balance sheet also demonstrated steady expansion, with solo assets reaching Rs. 3.7 trillion, deposits increasing to Rs. 3.2 trillion, and net loans growing to Rs. 1.7 trillion.
On a consolidated level, the People’s Bank Group marked a historic milestone as total assets and total loans portfolio reached Rs. 4 trillion and Rs. 2 trillion thresholds, respectively. The group reported a PAT of Rs. 43.5 billion, with consolidated gross income rising to Rs. 424 billion.
Commenting on the full-year performance, Chairman Prof. Narada Fernando noted that the results demonstrate the bank’s ability to navigate challenges while strengthening its operational foundations.
Bank CEO/ Clive Fonseka described the 12-month outcome as a landmark achievement for the bank. He explained that the results were delivered amid a deliberate transformation of the bank’s operating model, with greater emphasis placed on expanding private-sector business alongside its traditional role.
Mr. Fonseka further highlighted that the record-breaking performance, together with the group’s historic Rs. 4 trillion asset milestone, underscored the bank’s strengthened scale, operational resilience, and long-term strategic positioning. Continued investments in efficiency, customer experience, and digital capabilities have strengthened competitiveness, improved responsiveness, and positioned the bank for sustainable growth in the years ahead.
Beyond financial metrics, People’s Bank has made qualitative contributions to the country’s economy through inclusive and purpose-driven initiatives.
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