Category: Daily Financial Times

Commercial Bank of Ceylon group has reported a net profit of Rs. 16.86 billion in the third quarter of 2025, up 33.4% from a year ago. The group reported a gross income of Rs. 268.49 billion and net interest income of Rs. 103.48 billion at the end of 3Q 2025, with strong year-on-year (YoY) growth of 34.60% in the loan book and curtailed interest expenses, contributing to an impressive nine-month performance.

Comprising of Sri Lanka’s largest private sector bank, its subsidiaries, and an associate, the group reported that interest income grew by 6.96% to Rs. 221.53 billion for the nine months ending 30 September 2025, while interest expenses for the period remained static at Rs. 118.05 billion as a result of the lower cost of funds and continuing improvement in the Current and Savings Account (CASA) ratio.

Consequently, net interest income at Rs. 103.48 billion for the nine months reviewed grew by 16.30% in contrast to the 11.08% growth in gross income. In 3Q, gross income grew by 16.37% to Rs. 91.46 billion, while interest income for the three months improved by 10.35% to Rs. 74.88 billion, with the loan book growing by 10.14% at a monthly average of Rs. 58.51 billion.

ComBank Chairman Sharhan Muhseen said: ‘Our commitment to lending remains undiminished, because we believe that our capacity to support national economic growth targets must be fully leveraged within prudential limits. The group’s performance reflects the impacts of this approach, and we expect similar strong growth in the final quarter of the year, in line with the trajectory of economic and business recovery.’

ComBank Managing Director Sanath Manatunge said the bank’s ability to sustain growth in the loan book, backed by a focus on yield management and cost optimisation, helped the bank to post these strong results for the nine months reviewed. He said that the bank maintained a strong focus on the CASA ratio, which stood at 39.92% as at 30 September 2025, compared to 38.07% at end-December 2024 and 39.60% a year ago, helping the bank to keep the cost of funds under control.

Total operating income increased by 21.41% to Rs. 140.49 billion for the nine months while the group’s impairment charges and other losses for the period declined by 28.21% to Rs. 14.37 billion primarily due to the previous year’s figure including an additional provisioning for the Sri Lanka International Sovereign Bonds (SLISBs) held by the bank.

For 3Q 2025, the group reported a total operating income of Rs. 47.74 billion, an improvement of 24.13%.

The group posted a net operating income of Rs. 126.13 billion for the nine months, reflecting an impressive growth of 31.79%, while keeping operating expenses at Rs. 39.41 billion, an increase of only 8.00%, resulting in operating profit before taxes on financial services growing by a noteworthy 46.46% to Rs. 86.71 billion.

Taxes on financial services increased by 50.72% to Rs. 13.36 billion, leading to group profit before income tax of Rs. 73.35 billion for the nine months with a growth of 45.71%. Income tax increased by 34.71% to Rs. 25.33 billion, resulting in a net profit of Rs. 48.02 billion for the group during the nine months reviewed, representing an impressive bottom-line growth of 52.27%.

Taken separately, Commercial Bank of Ceylon PLC reported a profit before tax of Rs. 70.57 billion and profit after tax of Rs. 46.02 billion for the nine months reviewed, recording growths of 44.83% and 51.51% respectively.

Total assets of the group increased by Rs. 357 billion or 12.40% during the nine months to reach Rs. 3.23 trillion, as at 30 September 2025. Asset growth over the preceding 12 months was Rs. 469 billion, or 17%.

The group’s continued impetus in lending saw gross loans and advances growing by Rs. 381 billion, or 25.01% over the nine months to Rs. 1.9 trillion, at a monthly average of Rs. 42.39 billion. Loan book growth over the preceding 12 months was Rs. 490 billion, with YoY growth of 34.60%, averaging Rs. 40.85 billion per month.

Deposits grew by 12.26% to Rs. 2.6 trillion in the nine months, an increase of Rs. 283 billion at an average monthly growth of Rs 31.40 billion, and recorded YoY growth of 16.27%, with monthly average growth of Rs 30.18 billion, over the preceding 12 months.

In other key performance indicators, the Bank’s Tier 1 and Total Capital Ratios stood at 13.391% and 17.282% respectively as at 30 September 2025, both comfortably above the statutory minimum ratios applicable for the bank of 10% and 14% respectively.

In terms of profitability, the bank’s net interest margin increased to 4.53% for the nine months compared to 4.27% reported at end 2024 and 4.38% a year ago. The bank’s return on assets (before tax) improved to 3.19% compared to 2.47% a year ago, while the return on equity improved to 21.03% from 17.42% as at 30 September 2024.

The bank’s cost to income ratio excluding taxes on financial services stood at 27.95%, as against the normalised ratio of 33.85% for 2024, while the figure inclusive of taxes on financial services was 37.69% for the period, in comparison with the normalised ratio of 41.89% for the preceding year, when the effect of the net loss on restructuring of Sri Lanka International Sovereign Bonds is discounted.

In terms of asset quality, the bank’s impaired loans (Stage 3) ratio improved further to 1.79% compared to 4.08% a year ago, while its impairment (Stage 3) to Stage 3 loans ratio for the reviewed period improved to 71.43%, as against 64.61% as at 31 December 2024 and 53.54% as at 30 September 2024.

The Overseas School of Colombo (OSC) reaffirmed its position as a global leader in sustainable education, earning recognition from UNESCO’s Greening Education Partnership, and also by renewing its Eco-Schools Green Flag accreditation from the Foundation for Environmental Education (FEE).

In June 2025, OSC was featured by UNESCO’s Greening Education Partnership as one of only two schools globally recognised as an exemplar Green School, signifying that OSC meets UNESCO’s rigorous Green School Quality Standards, with a whole-school approach to sustainability.

OSC is also featured in the Early Years Eco-Schools Global Handbook (p.35), which spotlights leading models of environmental education worldwide.

Another highlight was the visit of FEE Senior Director of Education Dr. Pramod Kumar Sharma, for a two-day accreditation evaluation that underscored the school’s leadership in environmental education and sustainable practices.

Dr. Sharma oversees the global Eco-Schools and Young Reporters for the Environment (YRE) programs across 101 countries, making his visit a significant milestone for OSC and its community.

During the visit, students showcased their gardening and permaculture initiatives, proudly harvesting bananas, brinjal, and a range of herbs and spices grown on campus. The produce was then prepared for a communal lunch with members of the Eco-Schools Committee, Dr. Sharma, and Palinda Perera of Earth Lanka.

‘It’s incredibly fulfilling to see the Grade 3 students’ excitement and genuine engagement during our permaculture gardening sessions,’ said the young Eco-Club Service Leader Sam Bridgwater. ‘As an Environmental Systems and Societies student, it’s rewarding to put what we learn in class into real action.’

In the afternoon, students guided the visitors through OSC’s key environmental initiatives, including its bio-gas plant, composting systems, and various service-learning projects. These tours highlighted how sustainability is woven into the fabric of everyday school life, going beyond the classroom to create authentic, hands-on learning experiences.

Environmental Systems and Societies Educator Ian Lockwood said: ‘The school demonstrated genuine, hands-on engagement with every aspect of its environmental initiatives-from working on the garden beds to harvesting and sharing the produce, to thoughtful conversations around waste management and showcasing the bio-gas plant.’

In addition to the aforesaid, OSC’s students have taken on leadership roles at international forums, including leading sessions at the UN at Your Doorstep Global Conference, where they advocated for climate action and sustainability. In 2024, they were named International Winners of the YRE Competition, with their work showcased globally as a model for environmental journalism and youth engagement.

These achievements place OSC among an elite group within the Eco-Schools network, which spans over 59,000 schools worldwide, with only 17,000 having achieved Green Flag status.

Learning Leader/Service Coordinator Dr. David Poulus, proudly said: ‘It’s inspiring to see sustainability embedded across the school-from kindergarten through to DP2 in meaningful sustainability practices. Everyone contributes to a connected system: collecting food waste, creating bio-fertiliser, nurturing gardens, and enjoying the harvest.’

Through its sustained efforts, OSC has emerged as a national and global leader in sustainable education. Dr. Sharma’s visit celebrated these achievements while encouraging the school to further expand its environmental stewardship, reaffirming OSC’s role as a transformative force in embedding sustainability into its culture and community.

Sri Lanka’s hospitals are under mounting pressure due to an exodus of medical specialists, with about 25 leaving the country annually, according to Medical and Civil rights Doctors’ Trade Union Alliance Chairman Dr. Chamal Sanjeewa.

A report compiled by the Occupational Health Services Director Dr. Priyantha Atapattu, using data obtained through the Right to Information Act, shows that 24 specialists exited the public health service between April 2024 and April 2025.

The findings reveal that the health sector requires 3,181 specialists to function effectively, yet only 2,042 remain in service, leaving a gap of more than 1,100. Shortages are acute in several key areas, including around 200 anaesthesiologists, 150 physiotherapists, 100 surgeons, 100 obstetricians and gynaecologists, and close to 100 paediatricians. Forensic medicine is also affected, with only 41 specialists working out of the 64 needed. Similarly, only 47 orthopaedic surgeons are available out of the required 100.

Dr. Sanjeewa cautioned that these shortages are already disrupting hospital operations and affecting patient care nationwide. He called on the Health Ministry and the Postgraduate Institute of Medicine to introduce sustainable measures to expand specialist training and retain medical professionals in the system.

‘This is more than a manpower issue; it poses a serious risk to the country’s entire healthcare framework,’ he warned.

Hithawathi, one of the key initiatives of FOUNDATION.LK, continues to make a notable impact in enhancing cyber-safety in Sri Lanka as it completes 11 years of operations.

Hithawathi, which translates to ‘female confidante’ in Sinhala, is a national social empowerment initiative that addresses the urgent needs of vulnerable individuals particularly women and girls affected by cyber-violence. The project provides emotional support, instills hope, prevents extreme actions such as suicide, and delivers essential technical assistance and guidance to help resolve cyber-related issues.

The Hithawathi Help Desk support is free and available for individuals who do not feel secure on the internet. Support is offered through multiple channels, including a dedicated hotline, email service, website chat, and messaging platforms like Facebook, Instagram, WhatsApp, and Viber. All services are available in Sinhala, Tamil, and English.

Although there are no gender restrictions on Hithawathi’s services, the hotline is staffed by female officers, who are specially trained to provide better support to female and child callers. The project also emphasises compassionate and empathetic assistance, recognising the vulnerable mental state of victims who often feel helpless and desperate. The name Hithawathi reflects the project’s commitment to offering a close, trustworthy, and supportive relationship to all users.

In addition to its direct support services, the Hithawathi project plays a vital role in enhancing cyber-safety across Sri Lanka. It does so by raising public awareness, educating communities, and empowering vulnerable groups to navigate the digital world safely and responsibly. The initiative also contributes to reducing cybercrimes and online threats through its proactive engagement and outreach efforts.

In 2024, Hithawathi celebrated its 10th anniversary, marking a decade of dedicated service in the field of cyber safety and digital empowerment. Over the years, the initiative has evolved into a trusted resource for individuals in need, while expanding its outreach and strengthening partnerships across sectors. Since inception, Hithawathi’s impact includes 1,490,000+ netizens engaged, 16,500+ individuals supported, 1,250+ virtual and physical events held, 1,800+ website articles published and 160+ video content created.

Hithawathi is supported by numerous national level organisations including the Sri Lanka Computer Emergency Response Team (SLCERT), TechCERT, and Sri Lanka Police. With the collaboration of the Ministry of Education, Hithawathi conducts awareness sessions in schools islandwide, further extending its reach to students and educators. Well-meaning individuals such as students’ counsellors and legal advisors attached to different organisations also support Hithawathi, while some members of Internet Society – Sri Lanka Chapter (ISOC-LK) and LK Domain Registry (LKDR) serve voluntarily.

Sri Lanka will continue their cricket tour of Pakistan with the second and third ODIs rescheduled.

The second ODI, scheduled for 13 November, has been pushed back by a day to 14 November, and the third ODI will be played on 16 November.

Both matches will take place at Rawalpindi.

Manager Mahinda Halangoda said that none of the players will return.

The Cabinet of Ministers has approved the implementation of four pilot pipeline irrigation projects across the North Western and Uva provinces, aiming to reduce water wastage, support small-scale farmers, and improve crop yields in Sri Lanka’s drought-prone dry zones.

Sri Lanka’s small-scale cultivators in the dry zone have faced declining crop harvests due to prolonged droughts and the destruction of soil-based irrigation channels caused by increasingly intense rains. To address these challenges, the Government has proposed a pipeline distribution system to replace the traditional open irrigation channels, which have limited water-carrying capacity.

Under the plan, four pilot projects covering a total agricultural area of 877 hectares will be established, showcasing three distinct pipeline irrigation models. The projects are intended to minimise water loss, provide relief to farmers affected by drought, and encourage small landowners to cultivate higher-value food crops. An additional objective is to increase female participation in the agricultural sector.

Funding for the initiative will be drawn from multiple sources, including a $3.3 million grant from the Japan Foundation for Prosperous and Resilient Asia and the Pacific (JFPR), supplied via the Asian Development Bank, alongside $1.68 million from the Government.

The Cabinet’s approval, proposed by the Minister of Agriculture, Livestock, Lands, and Irrigation, marks a significant step in modernising irrigation infrastructure, enhancing agricultural resilience, and supporting sustainable livelihoods for farmers in vulnerable regions of Sri Lanka.

Pan Asia Bank, in collaboration with the National Chamber of Commerce of Sri Lanka and the District Chamber of Commerce, Industry and Agriculture of Wennappuwa (DCCIA), successfully conducted an awareness program titled ‘Financial Literacy and Access to Finance for Small and Medium Enterprises (SMEs)’. The event was well attended by local entrepreneurs, business owners, and key representatives from the regional business community.

The workshop aimed to strengthen the financial literacy of SMEs and improve their understanding of modern banking systems and facilities. Participants were guided on essential topics such as maintaining a healthy credit record through the Credit Information Bureau (CRIB), accessing refinance loan schemes and sustainable finance options, and preparing proper documentation for financial applications. The session also addressed ways to build financial discipline and ensure the long-term resilience of small and medium businesses in an evolving economic environment.

As a forward-thinking financial institution, Pan Asia Bank continues to champion initiatives that uplift the SME sector by promoting financial inclusion and responsible lending. During the session, bank representatives highlighted the range of financial solutions designed to help entrepreneurs refinance existing loans, expand their businesses, and transition toward sustainable and environmentally conscious operations.

Pan Asia Bank Director/CEO Naleen Edisiringhe said, ‘We believe that supporting SMEs with financial knowledge and access to the right banking tools is crucial for fostering a resilient and inclusive economy. Through collaborative programs like this, Pan Asia Bank reaffirms its commitment to nurturing entrepreneurship and contributing to the nation’s economic growth.’

The event provided valuable opportunities for one-on-one discussions between participants and Pan Asia Bank officials, allowing business owners to receive personalised guidance and explore potential partnerships.

Amana Bank continued its strong profitability momentum by nearly doubling its profits in 3Q to reach a year-to-date (YTD) Profit-Before-Tax (PBT) of Rs. 2.7 billion (39% YoY) and PAT of Rs. 1.6 billion (44% YoY), setting a new record by achieving the bank’s 2024 full-year PBT in nine months. During 3Q, PBT soared by 91% YoY to Rs. 1.2 billion and after taxation, profit stood at Rs. 0.7 billion, recording a 98% YoY growth.

On the bank’s top-line performance, Net Financing Income during 3Q grew significantly by 42% YoY to reach Rs. 2.26 billion, resulting in a 19% YoY increase in Net Financing Income for the nine months ended 30 September 2025 to reach Rs. 6.1 billion, supported by a healthy financing margin of 4.2%.

The bank’s Net Fee and Commission Income recorded strong growth of 53% YoY during 3Q to reach Rs. 417.1 million and 35% YoY during the nine months to surpass the Rs. 1 billion mark. This contributed to Total Operating Income rising to Rs. 2.8 billion in 3Q and Rs. 7.5 billion as of 30 September 2025, translating to a YoY growth of 34% and 15% respectively.

The resultant impact of improved business environment, proactive customer engagement, and strengthened portfolio quality, enabled the Bank to achieve a reversal in its Impairment Charges, leading to a 49% increase in Net Operating Income to Rs. 3 billion for 3Q and a 24% increase to Rs. 7.6 billion for the nine months ended 30 September 2025.

The bank improved its Cost-to-Income Ratio to 49% in 3Q, while also strengthening its overall ratio to 51% as of 30 September 2025, compared to 52% recorded at the end of both Q1 and H1 2025 and 53% in 2024.

This improvement resulted in the bank’s Operating Profit Before All Taxes reaching Rs. 3.8 billion for the 9 months and Rs. 1.7 billion for 3Q, reflecting year-on-year growth of 40% and 91%, respectively. Reinforcing its strong financial trajectory, the bank recorded a Total Comprehensive Income of Rs. 1.9 billion for the period, reflecting 70% YoY growth.

The bank recorded a commendable 30% increase or Rs. 33.2 billion growth in customer advances during the 9 months, thereby contributing to the national economy through the bank’s development-focussed financing model, to close advances at Rs. 144.5 billion, while also setting an industry benchmark of 71% of Total Assets consisting of Advances.

This performance was achieved while continuing to have one of the lowest industry-wide Stage 3 Impaired financing ratio of 1.1% owing to the bank’s effective risk management and underwriting standards, driven by its unique people friendly approach.

The bank’s deposits grew by Rs. 15 billion to close the quarter with Rs. 169.5 billion while maintaining an industry best CASA ratio of over 43%. The bank’s Total Assets which recently crossed the milestone of Rs. 200 billion, closed at Rs. 202.6 billion as of 30 September 2025, an 11% growth from YE 2024.

Reinforcing its upward profitability trend, the bank’s Return on Equity climbed to 9.0%, with Return on Assets rising to 1.9%. The bank’s Common Equity Tier 1 ratio closed at 12.7%, whilst Total Capital ratio was at 14.6%, well above the regulatory minimum requirement of 7% and 12.5% respectively, testifying the bank’s stability.

Further, the bank’s Liquidity Coverage Ratios – Rupee and All Currency stood at 234% and 173.1% respectively as at 30 September 2025, whilst the Net Stable Funding Ratio was 132.5%, all of which comfortably exceeded the minimum requirement of 100% each.

Recently, the bank paid its 8th successive interim dividend of Rs. 1.30 per share totalling to an all-time high pay-out of Rs. 716.5 million, continuing the trend of creating value to its shareholders.

During the quarter under review, Amana Bank emerged as the Best Bank in Sri Lanka at the prestigious Indian Chamber of Commerce (ICC) Emerging Asia Banking Awards 2025, adjudicated by PwC.

Competing within the robust local banking industry, this pinnacle award, recognises Amana Bank’s continuous performance and growth during the last three years, customer-centric approach, and pioneering role in promoting its non-interest based people friendly and development focussed banking model.

In addition to this coveted title, Amana Bank was also honoured with the award for Best Performance on Asset Quality, reflecting the bank’s disciplined credit management, prudent risk assessment, and strong financial resilience. The bank was also conferred the title ‘South Asia’s Islamic Bank of the Decade’ at the Islamic Finance Forum of South Asia Awards 2025.

Chairman Asgi Akbarally said: ‘Our strong financial performance in 2025 reaffirms the soundness of our strategy and our commitment to delivering sustainable value to shareholders. We have continued to enhance profitability while maintaining disciplined growth and a robust balance sheet, positioning Amana Bank as a resilient institution in a dynamic operating environment’.

He added: ‘This consistent trajectory of performance and purpose was further validated when the bank was recognised as the Best Bank in Sri Lanka at the ICC Emerging Asia Awards – an honour that celebrates the collective dedication of the Amana Bank Team.’

Managing Director/CEO Mohamed Azmeer said: ‘Our performance in 3Q, where profits nearly doubled, demonstrates the effectiveness of the bank’s focused execution of our plans. The significant growth in advances, achieved while maintaining one of the lowest Stage 3 impairment ratios in the industry, underscores the strength of our business model and disciplined portfolio management.’

‘As we continue our journey, we remain committed to offering a people-friendly and development-focused banking experience that empowers individuals and businesses to progress with confidence and purpose. Building on this momentum, we remain optimistic of further elevating our performance and look forward to closing another year with resounding success,’ he added.

Amana Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah-based IsDB Group being the principal shareholder of the bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. Testifying its position as a leading practitioner of the non-interest based banking model, Amana Banks continued to be recognized amongst the Top 25 Strongest Islamic Banks in the World by The Asian Banker.

Amana Bank does not have any subsidiaries, associates, or affiliated institutions apart from its engagement with OrphanCare as its Founding Sponsor.

Bologna, Italy, will host the 2025 Davis Cup Finals, also known as the Final 8, from 18 to 23 November. The tournament will feature the world’s top eight tennis nations competing in a knockout format for the Davis Cup trophy.

The quarter-finals will take place from 18 to 20 November, followed by the semi-finals on 21 and 22 November, and the final on Sunday, 23 November. All matches will be played on indoor hard courts, ensuring consistent playing conditions and fast-paced competition.

Each tie will include two singles and one doubles match, with every point critical in determining which teams progress.

Host nation Italy, led by Captain Filippo Volandri, will attempt to defend their title and secure a third consecutive Davis Cup win. Although top player Jannik Sinner will not participate, the squad features Lorenzo Musetti, Matteo Berrettini, Flavio Cobolli, Simone Bolelli, and Andrea Vavassori.

Italy’s depth and home advantage are expected to make them strong contenders once again, as Bologna prepares to welcome tennis fans for one of the sport’s most prestigious international events.

The confirmed quarter-final fixtures are:

18 November:

France vs. Belgium

19 November: Italy vs. Austria

20 November (10:00): Spain vs.Czech Republic

20 November (17:00): Argentina vs. Germany

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, in partnership with the Marine Environment Protection Authority (MEPA), under the Ministry of Environment, has unveiled Sri Lanka’s first 5G-enabled autonomous water-surface cleaning robot. Designed to collect floating waste and monitor environmental conditions in real time, this pioneering innovation demonstrates the transformative potential of 5G in enabling intelligent, sustainable solutions that protect Sri Lanka’s waterways and ecosystems.

The robot combines 5G connectivity, AI, and robotics to navigate lakes, rivers, and canals, collecting floating debris such as plastic bottles, bags, and leaves. It can clean 50-100 acres of surface water per mission and collect up to 50 kg of waste per run, preventing plastics from entering the ocean while supporting UN Sustainable Development Goal 14: Life Below Water.

The launch event, held at Beira Lake on 11 November, was graced by Hon. Dr. Dammika Patabendi, Minister of Environment; Mr. Samantha Gunasekara, Chairman – Marine Environment Protection Authority (MEPA); Supun Weerasinghe, Group Chief Executive of Dialog Axiata PLC; and representatives from the Ministry of Environment, MEPA, and Dialog. The event served as a live demonstration of how advanced technologies such as 5G, AI, and robotics can be harnessed to address pressing environmental challenges.

‘Initiatives such as this reflect the importance of cross-sector collaboration in achieving our environmental objectives,’ said Hon. Dr. Dammika Patabendi, Minister of Environment. ‘We commend Dialog and MEPA for leveraging technology to support the national mission of protecting Sri Lanka’s waterways and preserving them for generations to come.’

‘The 5G-enabled autonomous cleaning robot represents a new frontier in marine conservation and reflects Sri Lanka’s commitment to using innovation for environmental resilience,’ said Mr. Samantha Gunasekara, Chairman of the Marine Environment Protection Authority. ‘We extend our sincere appreciation to Dialog Axiata for partnering with us to bring this pioneering initiative to life – a collaboration that sets an inspiring example of how technology and collective effort can drive a cleaner, more sustainable future.’

Enabled by ultra-low latency of Dialog’s 5G network, the robot offers real-time HD video streaming, and remote controlling over the network, allowing operators to guide it remotely from anywhere in the country. Its AI-based garbage detection, obstacle avoidance, and centimetre-level positioning ensure efficient and safe operations, powered entirely by a carbon-neutral electric system.

‘This is a powerful example of how 5G can serve a purpose far greater than connectivity,’ said Supun Weerasinghe, Group Chief Executive of Dialog Axiata PLC. ‘We are proud to collaborate with MEPA and national institutions in applying next-generation technology to address environmental challenges, reflecting our shared vision of building a smarter, greener, and more sustainable Sri Lanka.’

By combining 5G, AI, and sustainability, Dialog continues to redefine the role of innovation in safeguarding the environment – paving the way for smarter, greener, and more resilient urban ecosystems across Sri Lanka.