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ComBank Group’s assets cross Rs. 3.5 tn. in ‘milestone-rich’ first quarter of 2026

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Sharhan Muhseen, Chairman, and Sanath Manatunge, Managing Director/CEO of Commercial Bank.

The Commercial Bank of Ceylon PLC and its subsidiaries have become the first private sector banking group in Sri Lanka to exceed Rs. 3.5 trillion in assets, one of several achievements in a milestone-studded first quarter of 2026.

Building on its lending-centred record-breaking performance of 2025, the Commercial Bank Group posted total assets of Rs. 3.61 trillion as at 31st March 2026, a growth of Rs. 230 billion or 6.81% over the first three months of the year. Asset growth over the preceding 12 months amounted to Rs. 610 billion or 20.34% YoY.

This growth was based on gross loans and advances increasing by Rs. 71.61 billion in the quarter under review to Rs. 2.16 trillion, at a monthly average of Rs. 23.87 billion; and deposits growing by Rs. 171.14 billion at a monthly average of Rs. 57.05 billion to reach Rs. 2.87 trillion as at 31st March 2026. With this, the Group recorded year-on-year growth of 31.35% in its loan book and 19.04% in its deposits portfolio.

As a result, the Group’s net asset value per share increased to Rs. 203.34 as at 31st March 2026, from Rs. 173.84 a year ago.

Commenting on the Group’s performance, Sharhan Muhseen, Chairman of Commercial Bank said: “We have made a characteristically strong and well-balanced start to 2026. It is encouraging to see the momentum generated by our clear focus on balance sheet strength and disciplined risk management continuing seamlessly into the new year, which benefits from the strong buffers built in 2025. We will continue to build on the fundamentals that sustain shareholder value in the year ahead.”

Sanath Manatunge, Managing Director/CEO of Commercial Bank noted that the Group achieved strong growth improving provision cover to over 75%, ensuring that the provision levels remain robust and aligned with the risks posed by a volatile global economic landscape, while improving its CASA ratio to more than 40%, the best in the industry. “Importantly, our emphasis on sustainability, governance, compliance and national economic priorities has been enhanced, ensuring that the interests of all stakeholders are given their due prominence in our growth,” he said.

Gross income for the quarter grew by 12.47% to Rs. 99 billion, while interest income improved by 14.17% to Rs. 82.89 billion, with the bulk of the income generated by loans. Interest expenses rose by 14.82% to Rs. 44.07 billion as a result of an increase in interest rates and growth in volumes, generating a 13.44% growth in net interest income, which amounted to Rs. 38.81 billion for the three months reviewed.

Total operating income increased by 9.25% to Rs. 50.84 billion, and the Group’s provision for impairment charges and other losses declined to Rs. 3.18 billion compared to the Rs. 7.15 billion reported for the corresponding period of 2025, reflecting the higher prudential provisioning recorded in the comparative quarter. However, the Group remains proactive in identifying sectors susceptible to local and global economic uncertainties, ensuring that adequate provisions are maintained through prudent management overlays.

Consequently, net operating income for the three months, at Rs. 47.66 billion, reflected a growth of 21%, and the Group’s operating expenses increased by 15.81% to Rs. 14.83 billion, resulting in an operating profit before taxes on financial services of Rs. 32.84 billion, an improvement of 23.51%.

Taxes on financial services increased by 29.12% to Rs. 5.20 billion, resulting in Group profit before tax of Rs. 27.63 billion for the three months, a growth of 22.51%. With income tax increasing by 27.84% to Rs. 9.70 billion, the Group reported net profit of Rs. 17.94 billion for the quarter, reflecting a bottom-line growth of 19.80%.

Taken separately, Commercial Bank of Ceylon PLC reported a profit before tax of Rs. 26.64 billion and profit after tax of Rs. 17.17 billion for the three months, posting YOY growths of 21.76% and 18.46%, respectively.

In key performance ratios, the Bank’s Tier 1 Capital Ratio as at 31st March 2026 was 13.32%, while its Total Capital Ratio stood at 16.85%. Both ratios are notably higher than the regulatory minimum ratios of 10% and 14% respectively.

Meanwhile, the Bank’s liquidity coverage ratio for the quarter reviewed stood at 368.83% for Rupees and 282.77% for all currencies, both well over the statutory minimum ratios of 100%. The Bank’s net stable funding ratio stood at 165.35% as at 31st March 2026, also significantly higher than the minimum statutory requirement of 100%.

In terms of profitability, the Bank’s net interest margin stood at 4.50% for the quarter, compared to 4.51% reported at end 2025 and 4.74% a year ago. The Bank’s return on assets (before tax) improved to 3.21% compared to 2.96% at end 2025 and 3.12% a year ago, while the return on equity improved to 21.37% from 19.51% at the end of 2025.

The Bank’s cost to income ratio excluding taxes on financial services stood at 29.03%, as against 29.66% for 2025, while the figure inclusive of taxes on financial services was 39.60% for the quarter in comparison with 39.20% for the preceding year.

In terms of asset quality, the Bank’s impaired loans (Stage 3) ratio further improved to 1.34% compared to 1.54% at end 2025, while its impairment (Stage 3) to Stage 3 loans ratio too improved to 75.04% as at 31st March 2026 from 73.50% at 31st December 2025. (ComBank)



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SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure

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SLT-MOBITEL marks its triple triumph at the National Business Excellence Awards 2026

Corporate accolades underscore the alignment between its operational excellence and national development

In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.

Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.

Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.

“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.

Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.

However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.

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Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement

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The panel discussion at the engagement

Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.

The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.

In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.

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American Premium Water strikes Gold at Dragons of Sri Lanka 2026

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The achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories.

American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.

Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.

For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.

Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.

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