Category: Daily Financial Times

The Colombo stock market ended a three-session losing streak to close yesterday in the green buoyed by the Central Bank of Sri Lanka’s monetary policy decision to hold rates steady.

The ASPI ended up 0.02% or 3.83 points at 21,149.56 but the S and P SL20 ended down 0.21% or 12.39 points at 5,932.62.

Turnover was over Rs. 3.5 billion on over 91.1 million shares traded. Foreign investors were net sellers on a net outflow of Rs. 241 million.

First Capital Research said investor sentiment remained positive following the Central Bank of Sri Lanka’s decision to maintain policy interest rates, supporting buying interest despite the mixed performance of the benchmark indices.

Both HNW and retail investor participation remained high during the session, contributing to overall market activity. The main positive contributors to the ASPI were SEYB, LION, PKME, CARG, and SEMB.X.

The real estate management and development sector led the daily turnover with a share of 65%, amid higher number of crossings seen in ONAL, followed by the banking, and diversified financials sectors collectively contributing 15%.

Union Bank successfully hosted Union Bank Pensioners’ Day at the Bank’s Head Office, bringing together pensioners for a dedicated event focused on their financial wellbeing, healthcare and lifestyle needs.

The event coincided with the Bank launching Sri Lanka’s most competitive pension Loan extending a loan of Rs. 8 million at the lowest interest rates along with added benefits including Rs. 30,000 worth of free PickMe rides annually to Government Pensioners.

The Banks primary objective is to empower pensioners for an independent retirement. Based on the theme ‹Make your retirement a strength not a burden› Union Bank pensioners day event was attend by the Director General of Pensions Department Chaminda Hettiarachchi and featured a range of value-added services offered through partnerships with BYD JKCC Sri Lanka Nawaloka Hospitals, Vision Care, Lifeserv, and several other organisations, providing medical benefits, health screenings, and essential services to the attendees from across the country who gathered at Union Bank for an engaging day.

Pensions Department Director General Chaminda Hettiarachchi said that this is the first time a private bank has taken such an initiative to conduct event focused on empowering pensioners. He also highlighted that the Pensions Department has empowered and provided flexibility to the pensioners to obtain the pension loan from a bank if their choice.

Sri Lanka has added another milestone to its global academic achievements with the publication of Review of Finance Literature – Volume 6, an internationally recognised scholarly volume published by Emerald Publishing.

The book is indexed in Scopus (Q1) and SCImago Journal Rank (Q1), with an impressive 2025 CiteScore of 8.4, reflecting its significant scholarly impact and international standing. The publication is believed to be the first-ever finance book edited by a Sri Lankan academic to be indexed in both Scopus (Q1) and the SCImago Journal Rank (Q1), achieving an outstanding 2025 CiteScore of 8.4.

The volume is co-edited by Professor Narayanage Jayantha Dewasiri of the Sabaragamuwa University of Sri Lanka, together with Professor H. Kent Baker (American University, USA), Professor Jitender Kumar (Deenbandhu Chhotu Ram University of Science and Technology, India), and Dr. Shubham Singhania (FORE School of Management, India).

As the sixth volume in Emerald Publishing’s prestigious Review of Management Literature series, the book brings together internationally recognised scholars to synthesise contemporary knowledge and identify future research directions in finance.

A tribute to Professor H. Kent Baker

The publication carries profound emotional significance, as it was completed during Professor H. Kent Baker’s passing, an internationally renowned finance scholar whose work transformed the fields of behavioural and corporate finance. Ranked among the world’s top 1% of finance scholars by the Journal of Finance, Professor Baker was celebrated not only for his exceptional research achievements but also for his generosity as a mentor to researchers worldwide.

The editors dedicated the volume to his memory through a special preface titled ‘In Memory of Professor H. Kent Baker.’ The tribute acknowledges Professor Baker’s extraordinary academic legacy, unwavering commitment to research excellence, and his remarkable mentorship that inspired generations of scholars across the globe.

Professor Dewasiri noted that Professor Baker was not only a distinguished co-editor but also an exceptional mentor whose guidance, generosity, and scholarly vision profoundly influenced the development of the Review of Finance Literature series.

A Comprehensive Review of Contemporary Finance

The volume comprises 11 comprehensive review chapters covering some of the most significant and emerging areas in global finance, including:

Asset-based mutual fund performance

Loan portfolio diversification in banking

Financial news and stock market volatility

Microfinance

Sustainability-oriented investor activism

Climate risk and financial stability

Women’s financial literacy

Forensic accounting

Corporate governance in family firms

Non-performing loans

Financial inclusion

Corporate Sustainability Reporting Directive (CSRD) and the European Union Green Taxonomy

Among these contributions is a chapter co-authored by Professor Dewasiri titled ‘Non-Performing Loans: An Integrative Review of Theoretical Foundations and Empirical Trends Through Bibliometric and Systematic Analysis,’ highlighting Sri Lanka’s growing contribution to international finance scholarship.

Global collaboration with lasting impact

The volume reflects a successful collaboration among researchers from leading universities across Asia and North America. Beyond synthesising existing knowledge, the publication identifies research gaps, proposes future research agendas, and serves as a valuable reference for academics, doctoral researchers, policymakers, and finance professionals worldwide.

According to Professor Dewasiri, the objective of the series is to consolidate fragmented knowledge, provide evidence-based insights into emerging areas of finance, and facilitate the development of impactful future research.

Strengthening Sri Lanka’s global research reputation

Professor Dewasiri’s role as co-editor of this internationally recognised publication further reinforces Sri Lanka’s growing presence within the global research community. His contribution demonstrates the increasing involvement of Sri Lankan academics in leading international publishing initiatives and high-impact scholarly collaborations.

Published by Emerald Publishing, Review of Finance Literature – Volume 6 represents an important addition to the finance literature and is expected to become an essential reference for researchers, postgraduate students, policymakers, and practitioners seeking a comprehensive understanding of contemporary developments in banking and finance. The publication further highlights Sri Lanka’s capacity to contribute meaningfully to global knowledge creation while showcasing the country’s academic excellence on the international stage. For more information about the publication, readers may visit the official Emerald Publishing page: https://www.emerald.com/books/edited-volume/21518/Review-of-Finance-Literature

A masterful batting display by Reeza Hendricks saw Dambulla Sixers beat Galle Giants by six wickets in the second game played at the Rangiri Dambulla Cricket Stadium yesterday, and end their unbeaten run in the Lanka Premier League tournament.

Galle Gallants was the only team to win their first two games played at the SSC, but a change of venue seems to have deserted their luck.

Coming at the fall of the first wicket at 26, Hendricks ensured that he remained till the end to see Dambulla Sixers home with 23 balls to spare. He paced the chase perfectly to remain unbeaten on a 37-ball 64 that comprised 9 fours and a six.

The key was Hendricks’ stand of 69 off 47 balls with Marques Ackerman (35 off 25). They were allowed to play with minimal risk due to the 29 off 11 balls cameo from Pavan Rathnayake. The finishing touches to the win was put by Gulbadin Naib who slammed 20* off six balls that included three sixes.

However, the key to Dambulla Sixers’ win was done earlier with the ball when they tied down Galle Gallants at the death, picking up four wickets for 28 in the final four overs. Fazalhaq Farooqi was the pick of the bowlers with 3/39 bowling at the death. Galle Gallants finished on 178-8, definitely below what they had been targeting when Chamika Karunaratne (45 off 30 balls, 4 fours, 2 sixes) and Dasun Shanaka (20 off 10, 1 four, 2 sixes) were going strong adding 43 off 25 balls.

Apart from Farooqi, Ackerman also played a key role by getting rid of Charith Asalanka for 25 to break a dangerous stand of 64 off 37 balls with Sam Harper (40 off 22 balls, 3 fours, 3 sixes). He also picked up the wicket of Sahan Arachchige for six in the middle overs that fetched 93 runs.

Hendricks was named Player of the Match.

Scores:

Galle Gallants 178-8 (20) (Sam Harper 40, Charith Asalanka 25, Chamika Karunaratne 45, Dasun Shanaka 20, Fazalhaq Farooqi 3/39, Marques Ackerman 2/27) vs. Dambulla Sixers 180-4 (16.1) (Reeza Hendricks 64*, Pavan Rathnayake 29, Marques Ackerman 35, Gulbadin Naib 20*)

President Anura Kumara Dissanayake this week eviewed the implementation of projects funded under the 2026 Budget for the Fisheries, Aquatic and Ocean Resources Ministry and discussed priorities for next year’s Budget, with a focus on strengthening fisheries infrastructure, increasing production and supporting fishing communities.

The discussion, held at the Presidential Secretariat, examined the progress of recurrent and capital expenditure undertaken this year by institutions operating under the Ministry, as part of the Government’s preparations for the 2027 Budget.

The review covered the performance of the Department of Fisheries and Aquatic Resources (DFAR), National Aquaculture Development Authority (NAQDA), National Aquatic Resources Research and Development Agency (NARA), Ceylon Fishery Harbours Corporation (CFHC), Ceylon Fisheries Corporation (CFC), Cey-Nor Foundation Ltd., and the Central Fish Market Complex.

Extensive discussions were held on programs aimed at increasing fish production and exports, ensuring an adequate supply of fish to meet the country’s nutritional requirements and improving the livelihoods of fishing communities, while also outlining priorities for 2027.

The President also reviewed the progress of several key infrastructure projects, including the Myliddy Fishery Harbour Development Project, development work at Gandara Fishery Harbour, the construction of the Rekawa Fishery Anchorage, and the modernisation and rehabilitation of the Karainagar Boat Yard.

The meeting further assessed the progress of research and development initiatives undertaken by the Ministry and considered funding requirements for these programmes under the 2027 Budget.

Attention was also given to the reconstruction of fishery harbours damaged by Cyclone Ditwah and ongoing efforts to restore the livelihoods of affected fishing communities.

The President reviewed the implementation of a Rs. 189 million program to provide boats, fishing nets and other equipment to fishermen affected by the disaster, with the aim of accelerating the recovery of the fisheries sector.

The discussion also examined progress under the ‘Clean Sri Lanka’ initiative to recycle decommissioned fishing boats and other fibreglass waste, supporting environmental sustainability within the fisheries industry.

At the invitation of the Union Minister of Textiles of India, Shri Giriraj Singh, the Minister of Industry and Entrepreneurship Development of Sri Lanka, Sunil Handunneththi, concluded a successful official visit to India from 14 to 18 July 2026, undertaking a series of high-level engagements aimed at strengthening bilateral cooperation in industry, investment, textiles, agribusiness and technology.

At Bharat Tex 2026 in New Delhi on 14 July, Minister Handunneththi met with the Union Minister of Textiles, Shri Giriraj Singh, and the Minister of State for Textiles and External Affairs, Shri Pabitra Margherita. The discussions focused on enhancing India – Sri Lanka cooperation in the textiles and apparel sector, promoting investment, strengthening value chain linkages, expanding trade and industrial collaboration, and advancing capacity building.

On 15 July, the Minister visited the Rajasthan State Industrial Development and Investment Corporation (RIICO) Neemrana Japanese Zone in Rajasthan to gain first-hand insights into India’s successful model of attracting foreign direct investment through dedicated industrial parks. Discussions highlighted industrial infrastructure, investment facilitation, skills development and integration into global manufacturing value chains.

On 16 July, the Minister participated in a business roundtable organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), where he engaged with Indian business leaders on opportunities to expand trade, investment and industrial partnerships between Sri Lanka and India.

The Minister further met in New Delhi, with the Chief Minister of Madhya Pradesh, Dr. Mohan Yadav, to explore opportunities for expanding economic cooperation between Sri Lanka and the State of Madhya Pradesh. Recalling the ancient civilisational links between Sanchi and Sri Lanka, the Chief Minister invited Minister Handunneththi to participate in the Madhya Pradesh Global Investors Summit (GIS) 2027 to be held in Bhopal in January 2027. He also encouraged the exploration of direct air connectivity between Colombo and Bhopal to facilitate tourism, business partnerships and greater people-to-people exchanges.

Recognising the importance of agricultural modernisation and value addition, the Minister visited the Indo – Israel Centre of Excellence for Vegetables in Haryana on 17 July, where he was briefed on advanced technologies in protected cultivation, precision irrigation, nursery management and farmer capacity building. He also toured the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) Mega Food Park in Sonipat to study integrated food processing, cold chain infrastructure and value addition systems that support agricultural productivity, rural development and market connectivity.

The visit underscored the growing momentum in the Sri Lanka – India economic partnership and reflected the shared commitment of both countries to deepen cooperation across manufacturing, investment, innovation, agriculture and food processing, while strengthening capacity building, tourism, cultural exchanges and people-to-people connectivity.

The scientific community together with the industry and innovation have made significant strides in reducing smoking-related harm, as more people switch from combustible cigarettes to reduced risk profile products. However, in some countries, policymaker and public awareness of tobacco harm reduction – or smokeless nicotine products – is slow, as cigarettes are intrinsically linked with nicotine historically. While nicotine is addictive and not risk-free, it is not listed as a known carcinogen by the WHO,

British American Tobacco’s Head of Scientific Engagement, Marianna Gaca, avers it is critical to decouple smoking from nicotine. She notes that nicotine is not the primary cause of smoking-related chronic diseases, but that the misconceptions are so entrenched that harm reduction products have become difficult to discuss with regulators, despite roughly 5 million smoking-related mortalities annually.

‘When you light a cigarette or tobacco, it is one of the most complex reactions. In a couple of seconds, in the smoke that is generated, there are over 7,000 substances that are formed the consumer will inhale. Of those substances about 150 are known to be toxins, and some of these are carcinogens. You really have to decouple smoking and nicotine,’ she said.

Tobacco harm reduction is a topic that governments, and public health practitioners, should open doors to, but the experience thus far has been quite different. Speaking on the sidelines of the Global Nicotine Forum in Warsaw, Gaca noted it is a difficult message to deliver. However, when policymakers are engaged one-on-one with the science and are taken through the story, they see and understand the story much better.

‘For the regulation of tobacco harm reduction products, there is a trajectory for any country and environment. If you consider the model risk continuum, many people would recognise these products – from vape, to heated products to nicotine pouches as potentially lower-risk alternatives to cigarettes. Cessation of smoking is the preferred approach of course.’

As a microbiologist and expert on cell and molecular biology, Gaca, stressed the importance of providing smokers with potentially reduced risk alternatives that conform to high-quality standards and ingredients. Cigarettes remain the market leader globally. She points to the downstream consequences of prohibitionist regulations that have led to increases in the illicit trade of cigarettes and vapor products.

‘We must go to the science to really help us understand the difference between combustibles, and smokeless tobacco and nicotine products, as you would find the data quite compelling. Within BAT alone we have over 250 publications in the space of non-combustible products, and we have a series of steps and an assessment framework that we take our product through.’

‘But emissions alone are not enough, we must go to the lab and understand the biological impacts of reductions in emissions. The clinical studies we do with adult consumers help us assess the different biomarkers in the body,’ Gaca said, explaining the rigorous checks and balances that take place.

Gaca closed by explaining that the model risk continuum for tobacco and nicotine products is not an industry construct, but a framework designed by two eminent public health scientists. She noted that nicotine pouches or oral tobacco products like Snus as used in Sweden consistently appear in research for harm reduction globally, and are expected to play an important role in reducing smoking related harm globally.

Douglas and Sons Ltd., (DSL) has promoted Jayendra Pinidiyapathirage as the Joint Managing Director.

Prior to this promotion, he served as the Deputy Managing Director of DSL from January 2023.

Jayendra joined the organisation in March 1989 and has played a pivotal role in driving the company’s growth over the years.

In his new role as Joint Managing Director, he will work closely with the Chairman and Managing Director Saroj Perera and the leadership team to guide the organisation through its next phase of sustainable growth.

Commenting on the appointment, Perera said: ‘We are delighted to announce Pinidiyapathirage’s promotion to Joint Managing Director. His leadership, integrity and dedication have been instrumental in our achievements. We are confident that he will continue to inspire our teams and lead the company toward even greater success.’

The Parliamentary Business Committee has decided that the no confidence motion against Justice and National Integration Minister Harshana Nanayakkara, will be taken up for debate in Parliament tomorrow (24).

The decision was reached during the Parliamentary Business Committee’s meeting held yesterday.

The Opposition formally handed over a noconfidence motion against Justice Minister Nanayakkara to Speaker Dr. Jagath Wickramaratne in Parliament on Tuesday (21).

The submission was made with the signatures of several Opposition MPs, marking a coordinated challenge to the Minister’s position. The motion comes in direct response to the Negombo Prison unrest on 5 and 6 July, where clashes left 10 prison officers and inmates dead and several others seriously injured.

The Opposition pointed out that Minister Nanayakkara failed to fulfill his responsibility and accountability for ensuring the safety of those in custody.

National Development Bank PLC (NDB) has announced its financial results for the six months ended 30 June 2026. Despite the challenges arising from the fraud uncovered in April 2026, the bank delivered healthy results, driven by strong core banking operations, reflecting the resilience of its business model and the clarity of its strategic direction.

The bank reported an operating profit before taxes on financial services of Rs. 9.5 billion for 1H 2026, after recognising the gross financial impact of the fraud attributable to the period amounting to Rs. 2.55 billion, which related entirely to the quarter ended 31 March 2026. This compares with an operating profit before taxes on financial services of Rs. 4.38 billion for 1H 2025, which has been restated to reflect the applicable fraud impact of Rs. 4.26 billion recognised for that period.

Post-tax profit for 1H 2026 amounted to Rs. 4.83 billion, compared with a restated post-tax profit of Rs. 1.93 billion for 1H 2025, with the net financial impact of the fraud reflected in both periods. Excluding the impact of the fraud, post-tax profit for 1H 2026 would have been Rs. 6.21 billion, compared with Rs. 4.22 billion in the corresponding period of 2025. Notably, the bank recorded a standalone post-tax profit of Rs. 3.01 billion during the 2Q 2026, the first full quarter since the reporting of the fraud. These results underscore the strength of the bank’s underlying franchise, earnings resilience, and the continued momentum of its core banking operations.

The bank continued to deliver a strong income performance during the period under review, generating total operating income of Rs. 25.13 billion, representing a year-on-year (YoY) growth of 12.7% over 1H 2025. This growth was driven entirely by the bank’s core banking operations and is presented before taking into account any financial impact arising from the fraud incident.

Supporting this performance, total revenue increased by 12.8% YoY to Rs. 53.82 billion. Net interest income (NII) grew by 2.8% YoY to Rs. 17.42 billion, supported by prudent balance sheet management, disciplined pricing strategies, and effective asset and liability management. Interest income increased by 8.4% to Rs. 45.86 billion, while interest expense rose by 12.1% to Rs. 28.44 billion. Against the backdrop of the prevailing interest rate environment, the bank’s timely repricing of both loan and deposit portfolios helped sustain margin performance, resulting in a net interest margin (NIM) of 3.8%, compared with 4.1% for FY 2025.

Net fee and commission income continued to be a key contributor to revenue diversification, increasing by 22.4% YoY to Rs. 4.45 billion, driven primarily by credit, cards, operations, and trade-related activities. Other non-fund-based income, comprising gains from trading activities, financial assets measured at fair value through profit or loss, derecognition of financial assets, and other operating income, amounted to Rs. 3.26 billion during 1H 2026. Within other operating income, foreign reserve revaluation gains netted Rs. 1.21 billion, and compared with a Rs. 362.37 million in 1H 2025.

Impairment charges on loans and other investments declined to Rs. 3.46 billion, representing a significant 22.9% YoY reduction. Loan impairment charges decreased by 18.7%, reflecting the benefits of the bank’s continued focus on asset quality management, enhanced credit underwriting standards, closer monitoring of asset quality and stage migration trends, and strengthened recovery efforts. The impaired loans (Stage 3) – Net ratio improved to 3.3% as at 30 June 2026 from 3.8% at end-2025, while Stage 3 provision coverage improved further to 62.9% from 59.1%.

Total operating expenses amounted to Rs. 12.18 billion for the period under review, including Rs. 2.55 billion recognised under other operating expenses in relation to the fraud. The comparative operating expense for 1H 2025, adjusted for the fraud-related expense applicable to that period, was Rs. 13.44 billion.

Following the discovery of the fraud within the bank, several announcements were made to the CSE on 2, 6 and 23 April 2026 to keep stakeholders informed of developments. As per the latest update, issued on 26 June, the bank received the Interim Report from Deloitte Touche Tohmatsu India LLP (Deloitte), which had been commissioned by the Board of Directors to conduct an independent forensic review of the facts and circumstances surrounding the fraud. Based on Deloitte’s examination conducted thus far, the value of the suspicious transactions identified amounts to Rs. 13.58 billion, versus the initial estimate of Rs. 13.2 billion.

The bank has restated its financial statements, including comparative information for prior periods, to reflect the impact of this revised amount of Rs. 13.58 billion as follows: Rs. 1.42 billion to periods prior to 1 January 2025, Rs. 9.62 billion to the financial year ended 31 December 2025, and Rs. 2.55 billion to the quarter ended 31 March 2026. Accordingly, the Statement of Profit or Loss for the comparative period ended 30 June 2025 and the Statements of Financial Position as at 1 January 2025 and 31 December 2025 have been restated.

These restatements have been made in accordance with applicable accounting standards to ensure that the financial statements present a true and fair view of the financial impact arising from the fraud. Following these adjustments, the previously reported post-tax profit of Rs. 9.03 billion for FY 2024 has been restated to Rs. 8.18 billion, while the previously reported post-tax profit of Rs. 11.04 billion for FY 2025 has been restated to Rs. 5.9 billion.

The bank reported total assets of Rs. 949.02 billion as at 30 June 2026 after recognising the financial impact of the fraud, compared with a restated asset base of Rs. 926.14 billion as at 31 December 2025. On an unadjusted basis, total assets as at 30 June 2026 would have amounted to Rs. 960.71 billion, compared with Rs. 935.81 billion at end-2025.

Net loans increased to Rs. 595.28 billion from Rs. 593.6 billion as at 31 December 2025, while total deposits grew to Rs. 712.5 billion from Rs. 707.17 billion. The Bank’s Current Account Savings Account (CASA) ratio stood at 23.6% as at end-1H 2026, compared with 27% at end-2025. Total equity attributable to shareholders amounted to Rs. 80.05 billion, while Group equity stood at Rs. 87.55 billion as at 30 June 2026.

The bank maintained a sound liquidity and capital position throughout the period under review. Liquidity Coverage Ratios (LCR) in both rupee and all-currency terms stood at 163.5% and 163.2%, respectively, while the Net Stable Funding Ratio (NSFR) was 129.5%. All ratios remained comfortably above the regulatory minimum requirement of 100%.

The bank’s solvency position also remained robust, with Common Equity Tier 1 (CET 1)/Tier I Capital and Total Capital Adequacy Ratios (CAR) of 9.7% and 15.3%, respectively, as at 30 June 2026, remaining above applicable regulatory minimum requirements. The corresponding restated ratios as at 31 December 2025 were 11.3% and 14.8%, respectively.

All Key Performance Indicators (KPIs) for 1H 2026 are presented after incorporating the financial impact of the fraud, with comparative figures similarly restated. Return on Average Equity (ROE) improved to 12.7% for 1H 2026, compared with a restated ROE of 7.5% for FY 2025. Pre-tax Return on Average Assets (ROA) was 2.2%, compared with a restated 1.4% for FY 2025.

Annualised Earnings per Share (EPS) increased to Rs. 23.49 from a restated Rs. 13.83 for FY 2025. At Group level, ROE and EPS stood at 11.8% and Rs. 23.54, respectively, compared with restated FY 2025 figures of 8.4% and Rs. 15.77. Net Asset Value (NAV) per share stood at Rs. 185.21 as at 30 June 2026 compared with a restated Rs. 187.67 as at 31 December 2025, while the closing share price was Rs. 112.50 (FY 2025: Rs. 141.25). Group NAV per share was Rs. 199 compared with a restated Rs. 201.61 at end-2025.

Commenting on the bank’s financial performance for 1H 2026, Director/Chief Executive Officer Kelum Edirisinghe said:

‘The bank continues to demonstrate resilience and stability, remaining firmly aligned with its strategic priorities despite the challenges encountered during the year. While dedicated teams remain fully engaged in addressing matters relating to the fraud incident, the broader organisation continues to execute its business strategy with focus, ensuring continuity in operations and service delivery to our customers.

Following the discovery of the fraud, the bank acted swiftly and decisively to strengthen its governance and risk management framework. A comprehensive forensic review by Deloitte is ongoing, while a series of enhanced control measures have already been implemented across the organisation. Investigations by the relevant law enforcement authorities are also progressing independently.

Importantly, the bank remains well-capitalised and liquid, with capital and liquidity buffers comfortably supporting our business operations and future growth ambitions. Our balance sheet strength, coupled with our prudent risk management practices, positions us well to navigate the evolving operating environment.

We remain focused on supporting Sri Lanka’s economic recovery and growth, particularly through continued engagement with the small and medium enterprise (SME) and retail sectors, which are critical drivers of economic activity. The confidence and trust placed in us by our customers, depositors, investors, and other stakeholders have been deeply encouraging, and we remain committed to honouring that trust through consistent execution and responsible stewardship.’