Connect with us

News

BOC records Rs. 30.0 Bn Pre Tax Profit in 1 Q 2025

Published

on

Bank of Ceylon (BOC), Sri Lanka’s premier financial institution, has reported a robust performance for the first quarter of 2025, underscoring its financial strength and strategic agility in a challenging economic environment.

The Bank recorded a Profit Before Tax (PBT) of Rs. 30.0 billion, a 222% increase compared to Q1 2024. Profit After Tax (PAT) rose to Rs. 17.1 billion, reflecting effective cost management and strong core earnings. Total assets reached Rs. 5.3 trillion, highlighting BOC’s growing financial footprint.

BOC’s impressive performance was driven by a 95% year-on-year growth in net interest income, totaling Rs. 50.5 billion, as well as improved operational efficiency. Fee and commission income rose by 5% to Rs. 5.2 billion, supported by digital banking and card services. Operating income climbed 88% YoY to Rs. 57.2 billion, while the Bank maintained a healthy cost-to-income ratio of 32.4%.

Despite economic headwinds, BOC demonstrated resilience in credit risk management with a Stage 3 loan ratio of 7.4% and maintained strong capital adequacy ratios well above regulatory requirements.

CEO Russel Fonseka said: “Our financial results underscore BOC’s commitment to growth, innovation, and national economic stability. We are expanding access, driving digital transformation, and reinforcing our leadership.”

The Bank launched its BOC Flex app, offering real-time services and cloud-based features aimed at improving customer experience. Chairman Kavinda de Zoysa reaffirmed the Bank’s focus on SME support, financial inclusion, and digital innovation.

BOC Chairman, Kavinda de Zoysa said the bank operates over 2,300 service touchpoints locally and has an expanding international presence. Fitch Ratings recently upgraded its National Long-Term Rating to ‘AA-(lka)’, reinforcing its strong market standing.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Flood warning issued to the Aththanagalu Oya basin extended until 0600AM on Monday [25]

Published

on

By

The warning mentioned in the flood warning message No. 01 issued for the Aththanagalu Oya basin on 22.05.2026 at about 5.30 am will be extended for the next 48 hours.

It is requested that residents in the area and vehicle drivers running through those areas  pay high attention in this regard by the . Disaster Management Authorities are requested to take adequate precautions in this regard

Continue Reading

News

Torrential rains cause havoc countrywide

Published

on

Heavy and persistent rains lashed several parts of Sri Lanka yesterday, triggering flooding, transport disruptions, flight diversions and multiple disaster warnings as water levels rose in key river basins and low-lying urban areas.

The worst affected situation was reported along the Colombo–Avissawella main road, where floodwaters submerged sections of the highway, bringing vehicular movement to a standstill at several points, including the Puwakpitiya-Thummodara junction, the Seethawaka Botanical Garden area, and parts of Yatiyantota. Traffic was also severely disrupted along the Delgoda–Belumahara road at Udupila, and the Gampaha–Miriswatta road, due to inundation, while movement on the Divulapitiya–Mirigama route was restricted for light vehicles, following flooding at Ullalapitiya.

In the Kelani River Valley, rising water levels, following heavy rainfall in the catchment areas, prompted warnings of possible minor flooding within the next 48 hours. The Irrigation Department cautioned that areas, including Hanwella, Seethawaka, Dompe, Padukka, Homagama, Biyagama, Kaduwela, Kolonnawa, Kelaniya, Wattala and Colombo, could be affected. The flood alert, issued at 10:00 am yesterday, remains valid for 48 hours, until Sunday morning.

Meanwhile, the National Building Research Organisation (NBRO) issued landslide warnings covering six districts—Colombo, Gampaha, Kalutara, Kegalle, Nuwara Eliya and Ratnapura. Red alerts were issued for Dehiowita, in Kegalle and Ratnapura, while amber and yellow warnings were declared for several vulnerable divisions, including Seethawaka, Padukka, Attanagalla, Ingiriya, Bulathsinhala, Ruwanwella, Kuruwita, Ayagama, Pelmadulla, Yatiyantota, Ambagamuwa, Eheliyagoda, Nivithigala and Kalawana.

In the civil aviation sector, poor visibility and heavy rain around Katunayake forced the diversion of around six inbound flights, bound for Bandaranaike International Airport (BIA), to Mattala Rajapaksa International Airport, as a precautionary measure.

The Department of Meteorology reported that the highest rainfall recorded was 336.5 mm in Pambegama, Kegalle, between Thursday morning and Friday morning, underscoring the intensity of the ongoing weather system.

Authorities have urged the public, in affected districts, to remain vigilant, avoid flood-prone roads, and adhere to disaster warnings as adverse weather conditions are expected to persist.

by Norman Palihawadane and Chaminda Silva

Continue Reading

News

Dubai deports 21 Sri Lankan criminals

Published

on

Twenty-one alleged underworld operatives, deported from Dubai, were taken into custody by the CID, upon their arrival at the Mattala International Airport yesterday, Police said.

The suspects, including alleged organised crime figures, known as “Mahawatta Chamara” and “Kudu Duminda,” were arrested within the airport premises, shortly after disembarking from several inbound flights that had been diverted to Mattala, due to adverse weather conditions affecting operations at the Bandaranaike International Airport (BIA), in Katunayake.

Police said the group had been residing overseas for an extended period while allegedly continuing to direct organised criminal activities and narcotics trafficking operations in Sri Lanka.

According to law enforcement authorities, the deportees were among a group of wanted criminal suspects linked to underworld networks and ongoing investigations into organised crime activities.

Senior Police officials stated that “Mahawatta Chamara” is expected to be handed over to the Central Crime Investigation Bureau for further investigations, while inquiries into the activities and alleged criminal links of the remaining suspects are also continuing.

Police sources said the deportees arrived in the country during the early hours of yesterday after flights originating from Dubai were rerouted to the Mattala Airport.

Authorities have not yet disclosed the specific charges pending against the suspects, but investigators believe several of them maintained operational ties to criminal syndicates involved in drug trafficking and other organised crimes, despite being based overseas.

The CID has commenced extensive investigations to determine the extent of the suspects’ alleged involvement in underworld activities and their connections to ongoing criminal operations in the country.

by Norman Palihawadane

Continue Reading

Trending