Connect with us

Business

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

Published

on

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)



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.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

Business

ComBank hands over fully refurbished wards at De Soysa Hospital for Women

Published

on

Pictured here are the representatives of the Bank and senior officials of the hospital at the ceremonial handing over of the refurbished ward.

The Commercial Bank of Ceylon recently handed over Wards No. 03 and 04 of the De Soysa Hospital for Women, after the completion of a comprehensive renovation project launched in March this year to mark International Women’s Day.

Wards 03 and 04 handle a substantial share of the hospital’s patient load, and account for approximately 2,500 to 3,000 deliveries and 4,000 to 5,000 admissions annually. Their refurbishment was designed to significantly enhance patient care, safety and comfort, and directly benefit thousands of mothers and newborns.

Five Trustees of the Commercial Bank’s Corporate Social Responsibility Trust participated in the formal handing over of the refurbished wards to the hospital authorities. They were Sharhan Muhseen, the Bank’s Chairman, Raja Senanayake, Deputy Chairman, Sanath Manatunge, Managing Director/CEO, Hasrath Munasinghe, Chief Operating Officer, and Prasanna Indrajith, Chief Financial Officer.

Established in 1879, the De Soysa Hospital for Women is the first maternity hospital in Sri Lanka and the second oldest in Asia and is credited with, among others, performing the country’s first caesarean section in 1905 and establishing one of its earliest organised operating theatres in 1907.

The Commercial Bank’s Corporate Social Responsibility Trust, through which this project was implemented, has via its healthcare-related interventions supported more than 100 government hospitals with essential equipment and infrastructure, contributed to emergency medical services through the ‘Adopt an Ambulance’ initiative, and implemented targeted community health interventions such as water storage solutions for families affected by kidney disease.

Continue Reading

Business

IIHS expands global nursing pathways

Published

on

Dr. Renuka Jayatissa and Dr. Kithsiri Edirisinghe speaking to the media

The International Institute of Health Sciences (IIHS) Multiversity is expanding its international education programmes with the aim of creating overseas employment opportunities for Sri Lankan nurses and allied health professionals while contributing to foreign exchange earnings.

Speaking to the media during a conference at IIHS Multiversity in Kerawalapitiya, Dr. Kithsiri Edirisinghe, CEO, Co-Founder and Dean of IIHS aid that the institute has established academic partnerships with overseas universities and higher education institutions, including the University of Surrey in the UK, Deakin University in Australia, Metropolia University of Applied Sciences in Finland, Asia e University in Malaysia and SUNY Canton in the United States.

Under its ‘Study in Sri Lanka, Graduate to the World’ model, students can complete foundational and diploma-level qualifications locally before progressing to international top-up degrees or overseas employment.

Dr Edirisinghe said the model could substantially reduce the cost of obtaining internationally recognised qualifications. It estimates that completing a four-year bachelor’s degree at the University of Surrey in the UK would cost about USD 145,700, including tuition and living expenses, compared with about USD 27,750 through the IIHS pathway in Sri Lanka.

Dr Edirisinghe said the institute’s focus on overseas deployment addressed both Sri Lanka’s economic needs and the growing global demand for healthcare workers.

“Our winning model is producing job-ready, registration-ready healthcare professionals who can seamlessly enter foreign healthcare systems,” he said.

IIHS, which began operations in 2002 as the American College of Health Sciences, established its institutional base in Welisara in 2008 and launched its purpose-built greenfield multiversity campus in 2023.

The institute said it has upgraded the qualifications of more than 5,000 government nurses, supported over 2,500 youth on international employment pathways and trained more than 1,000 allied health professionals. It has also carried out over 250 community health projects.

The institute has identified Germany and Japan among its target markets, with pathways planned for 2,000 nurses for Germany and a one-year preparation programme linked to around 4,000 healthcare positions in Japan.

Dr. Renuka Jayatissa, Vice-Chancellor and a specialist medical doctor, said demographic changes and the growing burden of non-communicable diseases were changing healthcare requirements in Sri Lanka.

Continue Reading

Business

Sampath Bank launches Sri Lanka’s first community-powered book discovery platform at Colombo International Book Fair

Published

on

Sampath GPay customers can enjoy 25% cash back on Book Fair purchases

Sampath Bank PLC has launched Sampath Book Finder, Sri Lanka’s first community-powered book discovery platform, giving visitors to the Colombo International Book Fair a faster and more seamless way to find the books they are looking for across the fair’s 150+ stalls, while also opening up new opportunities to discover titles recommended by fellow readers.

Introduced on the opening day of the Colombo International Book Fair on 25 September, Sampath Book Finder brings together digital innovation and the collective knowledge of readers to address a familiar challenge at one of Sri Lanka’s largest literary gatherings, where the scale of the fair can make locating a particular title a time-consuming exercise. When a book proves difficult to locate, visitors can access bookfairtracker.com or scan the designated QR code and submit a request to the community, allowing readers who have already spotted the title to share its location and help others find it without having to search stall after stall.

Commenting on the initiative, Milinda Weerasinghe, Chief Marketing Officer, Sampath Bank PLC, said, “At Sampath Bank, we believe meaningful innovation begins by identifying everyday challenges and creating solutions that make a real difference. Sampath Book Finder brings this thinking to the Colombo International Book Fair by turning the collective knowledge of readers into a real-time digital solution, empowering them to find what they are looking for, discover something new and help others do the same, while making the overall experience more convenient and connected.”

The platform also turns book discovery into a shared experience, allowing visitors to recommend books they encounter by sharing the title, publisher, hall and stall number, which enables fellow readers to discover sought-after titles and recommendations while making it easier to locate them within the fair.

Sampath Bank’s longstanding association with the Colombo International Book Fair also continues in 2026, marking more than 20 years of partnership, with the Bank serving as the Official Banking Partner for this year’s fair. As part of its presence at the event, SampathCards offer 25% cashback for Sampath GPay customers on their purchases and 3 months 0% instalment plans for book purchases via Sampath credit cards, while visitors can also access banking services through the Bank’s physical presence at the fair. Customers registering to open selected Fixed Deposits at the premises will receive an additional 0.25%, adding further value and convenience for visitors.

Continue Reading

Trending