People’s Bank yesterday announced the results for its year ended December 31, 2023 reporting total consolidated operating income and pre-tax profit of LKR 96.8 billion and LKR 19.3 billion, respectively.
Consolidated net fees & commission income amounted to LKR 13.9 billion, reflecting a 11.0% growth over 2022 less extraordinary items during the said prior year.
Despite inflation-pushed cost pressures, total consolidated operating expenses rose by only 5.5% to reach LKR 62.2 billion ultimately reflecting stringent cost control and efficiency improvements which compared well with peers. Total consolidated customers deposits and rupee loans grew by 12.0% and 1.4%, respectively whilst it’s all currency net loans contracted by 4.0% reflecting both the appreciation of the rupee impact on its foreign currency loan book as well as measured growth by both the Bank and the Group in the first half of the year considering macro-economic circumstances. Total consolidated assets stood at LKR 3,208.2 billion in 2023 (end 2022: LKR 3,133.1 billion).
The Bank’s Tier I and Total Capital Adequacy Ratios were 12.4% and 17.4%, respectively at December 31, 2023 (end 2022: 11.9% and 16.3%) whilst, on a consolidated basis, it was 13.7% and 18.2%, respectively (end 2022: 13.3% and 17.2%). The Bank’s solvency levels remain sound ultimately reflecting efforts made since the onset of Basel III on 1 July 2017. Further efforts to bolster its regulatory capital, including for the purposes of additional contingency, is currently in process.
And in 2023 Peoples Bank Abled to achieve the title of largest digital customer base owner enhancing their customer base from 40% meanwhile reaching to 2.3 million customers by numbers. Today, the bank has a customer base of over 14.7 million and consolidated assets of over Rs. 3 trillion, with a strong digital footprint and 747 outlets across the country – providing a full range of banking services to individuals and SMEs.
සිංහල 
English 