Business
Pan Asia Bank’s first nine months performance reflects resilience amid adversities
Pan Asia Banking Corporation PLC reflected resilience amidst a multitude of adversities emanating from challenging macro-economic conditions. The Bank’s financial performance for the period ended 30th September 2022 demonstrates judicious portfolio management and prudency exercised in dealing with possible fallout on its asset quality from the sharp increase in interest rates.
During the period under review, the Bank increased its net interest income by 11% to Rs. 7,433.6 million as testament to the enhanced management of its asset and liability portfolio, making the most of the rising rates. For the nine-month period, the Bank reported a Pre-Tax Profit of Rs.626 million and a Post-Tax Profit of Rs.433 million.
“Our performance is a testament that we have put quality over quantity this year, when the circumstances dramatically changed from what we witnessed last year. This was achieved while managing the assets and liabilities to generate returns from our existing portfolio, along with keeping a closer tab on operational expenses amid runaway inflation,” noted Nimal Tillekeratne, the Bank’s Managing Director/Chief Executive Officer.
The Bank sensibly increased its provision buffers for loan losses during the period under review by introducing changes to impairment models, taking into consideration increased risks and uncertainties emerged due to the turbulent economic conditions in the country, including additional provisions on the Bank’s investments in foreign currency denominated financial instruments of Government of Sri Lanka. The impairment expense for the reporting period includes provisions made on foreign currency exposures to the Government of Sri Lanka and amounted to Rs.1.58 billion.
Meanwhile, the Bank’s Net Fee and Commission Income recorded a growth of 6% mainly due to increased volumes and rates of international trade activities, guarantees and remittances. The Net Gains from Trading increased by 264% mainly resulting from reporting high premiums in forex swap agreements due to the unconventional developments in the swap market, which was heavily discounted in the previous period.
The Bank strived for earnings maximization through portfolio re-alignment and cost management despite sector vulnerabilities that prevailed since last year. The Bank’s Cost-to-Income Ratio improved during the period under review, owing to excellence in core banking performance, which is reflected in growth across most key revenue lines and due to various strategies and measures taken to contain the increase in overhead costs. In fact, the Bank managed to contain the increase in Other Operating Expenses at 15% during the period under review compared to the previous period despite rising commodity prices.
The Bank’s Total Asset base stood at Rs. 205 billion as at 30th September 2022, after posting a growth of 8% during the nine-month period, supported mainly by the expansion in investments and loan book. The Gross Loans and Advances book recorded a growth of 4% to reach Rs. 157.04 billion, with major contributions from the Retail segment. The Customer Deposits recorded a growth of 8% to reach Rs.157.64 billion as at 30th September 2022.
The Bank maintains all its Capital and Liquidity Ratios well above the regulatory minimum standards. The Bank’s Tier 1 Capital Ratio and Total Capital Ratio as at 30th September 2022 stood at 13.44% and 15.41% respectively. The Bank’s Statutory Liquid Assets Ratio (SLAR) as at 30thSeptember 2022 stood at 23.50% and 83.93% for Domestic Banking Unit and Off-Shore Banking Unit respectively. Meanwhile, the Bank’s Liquidity Coverage Ratio (LCR) under BASEL III stood well above the statutory minimums. The Bank maintained LCR of 194.77%and207.16% for All Currencies and LKR respectively.
The commitment to technology adoption was demonstrated via many activities deployed during 2021/22 to ensure a seamless banking experience. Pan Asia Bank became the First Bank to integrate with the Lanka Clear, Common Interface of Lanka Pay Payment platform, through Internet Banking – enabling customers to carry out government payments digitally. Existing customers were also empowered to open savings accounts through Internet Banking and to check their credit card balance through a missed call facility without having to reach the contact centre. The implementation of the new leasing system during the period under consideration enhanced internal processes and the overall customer experience. Despite the external environment, the Bank continues to invest and focused on the core operation, product management, people development, and technology integrations.
Going from strength to strength, Pan Asia Bank secured the Runner-up Award – Banking sector, and the Merit Award – Corporate Governance category, at the annual National Business Excellence Awards (NBEA), organized by the National Chamber of Commerce of Sri Lanka. It was also selected by LMD as one of the top 15 ‘Most Awarded Entities’ and top ‘Most Respected’ Entities along with many other accolades and recognitions. The most recent addition to this list is Pan Asia Bank’s award as one of Business Today’s Top 40 business organizations for 2021-2022. This award is given to the largest organizations in the country based on a variety of criteria such as portfolio, profits and risks taken, resilience, passion, and how well challenges are met.
As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of Dr. Harini Amarasuriya, Prime Minister of the Democratic Socialist Republic of Sri Lanka.
World Investor Week is an annual global campaign led by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and investor protection. The “Ring the Bell for Financial Literacy” initiative, pioneered by the World Federation of Exchanges (WFE), brings together stock exchanges and other stakeholders worldwide to promote greater financial literacy and encourage individuals to make informed financial decisions.
The ceremony also marked the 40th anniversary of the CSE and the joint launch by the SEC and the CSE of the Stock Market Game, an online stock market simulation based on the ATrad trading system.
The Stock Market Game enables participants to gain practical experience of how the stock market works, make investment decisions and construct portfolios of listed shares without using real money. The platform is accessible through the websites of the SEC and CSE and is expected to serve as an important practical tool for promoting financial education. It is envisaged that the Stock Market Game will also be used to conduct simulation competitions among universities and the 100 Capital Market Clubs established in schools across the country.
The ceremony also featured the commemorative issuance of a stamp and First Day Cover to mark the 40th anniversary of the CSE. Issued in collaboration with the Department of Posts and the Philatelic Bureau of Sri Lanka, the commemorative stamp and First Day Cover were presented to Prime Minister Dr. Harini Amarasuriya, by the SEC Chairman Snr. Prof. D.B.P.H. Dissabandara and Ray Abeywardena, Director CSE and Chairman of Central Depository Systems (CDS).
Welcoming the gathering, Rajeeva Bandaranaike, Chief Executive Officer of the CSE, highlighted the importance of obtaining reliable information when making investment decisions.
“We operate in a digital world where a vast amount of information and data is disseminated through social media. While some of this information is factual, some may be inaccurate or misleading. When investing in the stock market, it is essential to make informed and prudent investment decisions. Therefore, investors should obtain information and data from reliable and responsible sources and persons before making investment decisions.”
Addressing the gathering, SEC Chairman Snr. Prof. D.B.P.H. Dissabandara emphasised that the SEC’s role extends beyond regulation to facilitating the further development of the capital market.
“The SEC needs to determine how best to introduce the stock market to Generation Alpha, Generation Beta and generations beyond. When it comes to investors, we need to build confidence in the market, because people will invest only when they have confidence in the market.’’
Business
Rs. 5 million worth of prizes to be given at 8th edition of CSE Masterminds Quiz Competition
The Colombo Stock Exchange (CSE) has announced that the eighth edition of the CSE Masterminds Quiz will be held on 9th October 2026, from 3.00 p.m. onwards, at the Main Ballroom, Shangri-La Colombo.
Recognised as Sri Lanka’s premier capital market quiz competition, CSE Masterminds brings together teams from the public and private sectors. Participants will be tested across international business, global markets, current affairs, the Sri Lankan economy and business, the Sri Lankan stock market, and sports and entertainment, before a concluding rapid-fire round.
This year the winning team can win up to Rs. 2,000,000, the runners-up up to Rs. 1,000,000, and the second runners-up Rs. 750,000. Sector awards will also be presented to the highest-performing team from each participating sector. Guest participants will also be able to compete in rounds of Audience questions, and will have the opportunity to participate a raffle draw for three free return tickets provided by Fits Aviation (Pvt) Ltd.
The evening will also include an exclusive after-party with live music provided by the band ‘Doctor’ featuring guest performer Umara Sinhawansa, fine food and beverages, providing an opportunity for networking and celebration. Every participant will receive a premium goodie bag made possible by the support of the event’s sponsorship partners. Collectively, the event will feature over Rs. 5 million worth of prizes, rewards, and giveaways, encompassing championship prizes, sector awards, audience engagement prizes, raffle draw offerings, and goodie bags.
Sponsorship partners include:
Platinum Sponsors: Hatton National Bank PLC and Bartleet Religare Stockbrokers (Pvt) Ltd.
Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Asha Securities Ltd., and Lanka Securities (Pvt) Ltd.
Silver Sponsors: Barista Coffee Lanka (Pvt) Ltd., Capital Trust Holdings (Pvt) Ltd., LOLC Holdings PLC, Arpico Ataraxia Asset Management (Pvt) Ltd., IronOne Technologies (Pvt) Ltd., and LankaPay (Pvt) Ltd.
Co-Sponsors: Access Engineering PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CryptoGen (Pvt) Ltd., Deloitte Lanka (Private) Limited, Dialog Finance PLC, Efutures (Pvt) Ltd., People’s Leasing & Finance PLC, Senfin Asset Management (Pvt) Ltd., and Softlogic Stockbrokers (Pvt) Ltd.
Business
NCCSL to conduct practical workshop on food labelling and advertising regulations in Sri Lanka
The National Chamber of Commerce of Sri Lanka (NCCSL) is organizing a one-day practical workshop on “Food Labelling & Advertising Regulations in Sri Lanka” on Thursday, 8th October 2026 from 9.00 a.m. to 4.30 p.m. at the National Chamber of Commerce, Colombo 10. The workshop has been organised to provide a practical understanding of the latest regulatory requirements governing the food products labelling and advertising of food products in Sri Lanka, with particular attention to regulatory developments applicable in 2026, compliance requirements, and the potential legal and financial implications of non-compliance.
As food products increasingly compete not only with quality and price but also on packaging, labelling and promotional claims, businesses must ensure the information they communicate to consumers is accurate, transparent and consistent with applicable regulatory requirements. Understanding these requirements is therefore essential for businesses seeking to protect their brands, maintain consumer confidence, and minimize regulatory and legal risks.
The practical workshop will go beyond an overview of regulations and focus on how businesses can apply regulatory requirements in their day-to-day operations. Participants will be guided through key areas of food regulatory compliance, including the national food regulatory framework, recent food labelling regulations and key changes, mandatory approvals and prohibitions relating to food labelling, and the litigation process associated with regulatory violations. The programme will also cover several areas of growing importance to the food industry, including the EU EMPCO Directive, food colour coding regulations, regulations relating to food trans-fatty acids and the importance of compliance in the use of food additives. Practical exercises will further enable participants to apply their knowledge to real-world compliance situations and strengthen their ability to identify potential regulatory concerns.
For further information and registration, please contact the National Chamber of Commerce of Sri Lanka on 011 4741788 – Nethmi or Udula – 071 403 4775.
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