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People’s Bank achieves pre-tax profit of Rs 43.7 Bn for nine months ended 30 Sept.

Published

3 months ago

2025/11/27

People’s Bank Chairman Prof Narada Fernando and CEO/GM Clive Fonseka

People’s Bank announced its financial performance for the nine months, ended September 30, 2025, delivering the best-ever results in the institution’s history. With seven out of 10 Sri Lankans banking with People’s Bank and one out of every five retail and business loans in the country originating from the Bank, this exceptional performance reinforces its position as the most trusted and influential financial services provider in Sri Lanka.

The Bank’s solo performance was the primary driver of this record-breaking achievement. People’s Bank reported a standalone post-tax profit of LKR 28.8 billion, marking the highest nine-month profit in its history. This exceptional performance was recorded in spite of booking a significant amount as impairments on behalf of few SOE’s. Solo operating income stood at LKR 121.9 billion, a substantial 99.4% increase, supported by exceptional core earnings. Net interest income nearly doubled to LKR 103.9 billion, driven by effective asset–liability repricing amid changing market conditions, resulting in an improvement of the Bank’s net interest margin to 4.0%, compared to 3.4% in December 2024. The Bank also recorded its highest-ever net fees and commissions for the period, reaching LKR 12.2 billion, reflecting strong customer activity and strengthened transactional volumes.

The balance sheet continued to expand steadily, with total solo assets rising to LKR 3.6 trillion, deposits to LKR 3.2 trillion, and net loans to LKR 1.6 trillion, underscoring the Bank’s central role in national credit intermediation. Capital adequacy ratios remained strong, with Tier I at 11.5% and Total Capital at 16.0%, even after incorporating all prudential deductions, including those related to the State-Owned Enterprise restructuring. Liquidity levels remained well above regulatory minimums, with the Rupee Liquidity Coverage Ratio standing at 287.0%

While the Bank’s solo results formed the foundation of its record performance, the Group’s consolidated results also remained strong. Consolidated post-tax profit reached LKR 30.5 billion, with operating income amounting to LKR 139.5 billion, an 85.0% growth over the previous year. Consolidated gross income rose to LKR 312.8 billion, and consolidated assets increased to LKR 3.9 trillion, further demonstrating the Group’s resilience and the underlying strength of its subsidiaries. Consolidated net interest margins improved to 4.3%, supported by prudent margin management and heightened operational efficiency.

People’s Bank continued to demonstrate leadership in digital transformation, recording 5.7 million digital onboardings and 4.0 million mobile banking app registrations by end-September 2025. These figures reflect the rapid adoption of its enhanced digital platforms and reaffirm the Bank’s position as Sri Lanka’s most accessible and inclusive financial institution.

Commenting on the results of the Bank and the Group, the Chairman of People’s Bank, Professor Narada Fernando, stated that: “We are pleased to present the third-quarter results for 2025, which reflect the Bank’s sustained strength and resilience. The steady normalization of previously challenged areas demonstrates the depth of the progress made, positioning People’s Bank to support the government’s economic agenda while maintaining consistent and responsible profitability as a strong state institution. Despite ongoing macroeconomic complexities, we remain firmly committed to advancing our strategic priorities, driving innovation, and enhancing collaboration to deliver secure, seamless, and modern financial services to our customers.

Our focus on expanding financial inclusion continues to guide our efforts to ensure that all Sri Lankans can benefit from the country’s economic recovery. Our vision is to be the nation’s foremost financial services provider-setting new benchmarks in service excellence, innovation, and contribution to national development. By staying focused on long-term priorities and strengthening partnerships at every level, we are confident in our ability to support a more inclusive, resilient, and prosperous future for all.”

Commenting on the Bank’s record-breaking nine-month performance, Chief Executive Officer/General Manager Clive Fonseka stated: “I am proud to share that our third-quarter results mark the highest performance in our institution’s history—an achievement that reflects the strength of our shared purpose and the dedication of our teams across the country. Importantly, these results were delivered while the Bank was undergoing a robust business model transformation, shifting from a long-standing emphasis on state-sector financing toward competing more vigorously for private-sector business. This strategic repositioning, supported by operational excellence, customer-centric transformation, and strategic digital investments, has strengthened our foundation and enhanced agility, enabling us to deliver greater value to customers and stakeholders.”

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Landslide Early Warnings issued to the districts of Kandy and Nuwara Eliya extended

Published

11 hours ago

2026/02/14

Priyan

The landslide early warnings issued to the Districts of Kandy and Nuwara Eliya by the Landslide Early Warning Center of the National Building Research Organisation have been extended till 0600 hrs on 15th February 2026.

Accordingly,
The Level II [AMBER] warnings issued to the Divisional Secretaries Divisions and surrounding areas of Walapane and Nildandahinna in the Nuwar Eliya district and the
Level I [YELLOW] warning issued to the Divisional Secretaries Divisions and surrounding areas of Pathadumbara in the Kandy district have been extended.

Latest News

Advisory for Severe Lightning issued to the Western, Sabaragamuwa and Southern provinces and Badulla and Nuwara-Eliya districts

Published

12 hours ago

2026/02/14

Priyan

Advisory for Severe Lightning Issued by the Natural Hazards Early Warning Centre at 11.30 a.m. 14 February 2026 valid for the period until 11.30 p.m. 14 February 2026

Thundershowers accompanied with severe lightning are likely to occur at some places in the Western, Sabaragamuwa and Southern provinces and in Badulla and Nuwara-Eliya districts after 1.00 p.m. There may be temporary localized strong winds during thundershowers.

The General public is kindly requested to take adequate precautions to minimize damages caused by lightning activity.

ACTION REQUIRED:

The Department of Meteorology advises that people should:
 Seek shelter, preferably indoors and never under trees.
 Avoid open areas such as paddy fields, tea plantations and open water bodies during thunderstorms.
 Avoid using wired telephones and connected electric appliances during thunderstorms.
 Avoid using open vehicles, such as bicycles, tractors and boats etc.
 Beware of fallen trees and power lines.
 For emergency assistance contact the local disaster management authorities.

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Teacher recruitment examinations will be conducted in accordance with the relevant court decisions – PM

Published

22 hours ago

2026/02/14

Priyan

Prime Minister Dr. Harini Amarasuriya stated that the forthcoming two teacher recruitment examinations will be conducted in accordance with the relevant court decisions pertaining to the ongoing legal proceedings and further noted that, taking into consideration the requests received, steps have been taken to make a request to Court’s approval to revise the conditions of the effective date of degree completion.

The Prime Minister made these remarks while addressing a meeting held at Monaragala Royal College to brief education authorities of the Monaragala District on the new education reforms.

Under the new education reforms, Smart Boards will be provided to 132 schools in the Monaragala District as part of the program to equip secondary schools with modern technology. As a symbolic step under this initiative, Smart Boards were presented to 10 secondary schools under the Prime Minister’s patronage. This program is being implemented with the intervention of the Digital Task Force operating under the Prime Minister’s Office. It was also emphasized that a new digital policy, formulated with special attention to child protection, will be introduced in April.

As part of her visit to the Monaragala District on the 13 th of February, the Prime Minister observed the implementation of the new learning methodologies introduced for Grade One under the new education reforms. She visited Kumbukkana Sri Shanmugam Tamil Maha Vidyalaya and Maduruketiya Maha Vidyalaya in Monaragala to observe the educational activities of Grade One students.

Considering the increase of student numbers and the development of infrastructure facilities, the Prime Minister also approved a proposal submitted by the School Development Society to rename Maduruketiya Maha Vidyalaya as Monaragala Dharmaraja Maha Vidyalaya.

Teachers briefed the Prime Minister that the new education system, supported by revised workbooks and activity-based learning methods, has proven to be effective, with students participating enthusiastically.

Addressing education officials further at the meeting held at Monaragala Royal College, the Prime Minister stated:

“Although this will not provide a complete solution to the existing teacher vacancies, these examinations can offer considerable relief. According to the Court’s previous determination, the effective date of degree completion had been set as 30.06.2025. However, considering numerous requests and following the cabinet approval we have sought Court’s consent to revise this date. We will act in accordance with the decision granted.

Funds allocated for school infrastructure must be utilized transparently and in line with proper planning, and progress must be reported accordingly. We cannot move forward by dividing ourselves along national, provincial, rural, or urban lines. As education authorities, you must make swift and accurate decisions based on correct data.

Further, discussions are already underway within the Piriven Committee of the Ministry of Education to develop Piriven education and to address the issues faced by Piriven teachers.”

The event was attended by the members of the Maha Sangha, Uva Province Governor Attorney-at-Law Kapila Jayasekara, Deputy Minister of Trade and Commerce R.M. Jayawardhana, Member of Parliament Ajith Agalakada, Uva Provincial Education Secretary Nihal Gunarathne, and several officials from the education sector.