People’s Bank has announced a consolidated gross income of LKR 272.2 billion for the nine months ending September 30, 2024, reflecting significant operational growth across various sectors. The bank also reported a post-tax profit of LKR 6.4 billion, with normalized figures showing a 50% increase in operating income and a 193.6% rise in profit.

The bank’s total consolidated assets, deposits, and net loans reached LKR 3.4 trillion, LKR 2.9 trillion, and LKR 1.8 trillion, respectively, showing impressive growth compared to the previous year.

People’s Bank has also continued its leadership in digital banking, with its customer base growing to 3.1 million, the largest for any financial services provider in Sri Lanka. The bank’s liquidity reached institutional all-time highs, and its strong capital adequacy ratio stood at 17.7%.

Commenting on the results, CEO Mr. Clive Fonseka highlighted the bank's resilience despite the challenges posed by Sri Lanka’s macroeconomic conditions. He emphasized the bank's commitment to innovation, operational efficiency, and promoting financial inclusion.

Head of Finance, Mr. Azzam A. Ahamat, praised the bank’s ability to adapt to unforeseen challenges and its strategic investments in technology and talent to ensure sustained growth. As the bank moves into the final quarter of the year, it remains focused on its long-term objectives and future opportunities.
(colombotimes.lk)