Banking sector credit-to-deposit ratio tops 70% for first time in three years

Sri Lanka’s banking sector Credit-to-Deposit Ratio (CDR) has exceeded 70% for the first time in three years, reaching 74.0% by end June 2026 and surpassing its long-term average, with the Central Bank of Sri Lanka (CBSL) flagging credit growth outpacing deposits and a widening credit gap as potential sources of systemic risk.

In its recent Financial Stability Review 2026, the CBSL said financial intermediation, the channelling of deposits into loans by banks, strengthened during the review period on the back of continued credit expansion. The CDR, which maintained the upward momentum that emerged in early 2025, rose from 63.9% at end 2024 and 69.9% at end 2025.

Banking sector credit grew 23.6% year-on-year at end Q2 of 2026, more than double the 11.4% recorded a year earlier, while retail funding, comprising demand, savings and term deposits, increased by only 6.7%. The CBSL said credit accelerated markedly amid the continued economic recovery and the accommodative monetary conditions that prevailed during much of the period, while deposit growth remained comparatively moderate. Notably, the rise in the CDR occurred alongside broadly stable GDP growth, suggesting that the recovery in credit demand outpaced changes in overall economic activity.

Even so, the CDR remained below pre-crisis levels, having stood at 82.7% at end 2021, indicating that the increase partly reflected the normalisation of financial intermediation from the exceptionally subdued levels recorded during 2023 and 2024.

However, a sustained widening of the gap between credit and deposit growth could increase funding pressures and contribute to a gradual erosion of liquidity buffers if credit expansion continued to significantly outpace growth in stable deposit funding, the CBSL warned. That erosion is already visible: the banking sector’s Rupee Liquidity Coverage Ratio (LCR), which measures high quality liquid assets against 30-day net cash outflows, fell to 272.5% at end Q2 of 2026 from 328.5% a year earlier, while the share of high quality liquid assets in total assets declined to 29.5% from 33.8% at end 2025. The CBSL attributed the decline mainly to banks shifting assets from Government securities to private sector lending, though liquidity ratios remained well above regulatory thresholds.

The private sector credit cycle continued to progress within the expansionary phase, with the private sector credit-to-GDP ratio rising throughout the period. Consumption loans, the banking sector’s largest credit segment, grew 29.1% year-on-year at end Q2 of 2026, against 11.0% a year earlier, driven by pawning facilities, which rose 49.2%, and personal loans, which grew 21.3%, including loans for vehicle purchases. The CBSL attributed the surge in pawning to rising gold prices, warning of market and collateral risks should global gold prices correct sharply.

Across the financial sector, comprising banks and finance companies (FCs), motor vehicle related credit rose to 12.9% of total credit by end June 2026 from 9.8% at end 2024, following the relaxation of vehicle import restrictions in early 2025. Gold-backed lending rose to 12.0% from 9.8% over the same period. Total credit extended by banks and FCs accelerated from 14.0% year-on-year in June 2025 to a peak of 27.9% in March 2026, before easing marginally to 26.4% by June 2026.

At the same time, the Credit Gap, which measures how far credit deviates from its long-term trend relative to GDP, remained in positive territory and widened further. While a positive gap was consistent with the recovery in lending after the prolonged contraction of 2022 to 2024, its continued widening alongside rapid private sector credit growth warranted close monitoring, the CBSL said. A sustained expansion significantly above trend could lead to a buildup of borrower leverage, increased risk-taking and sectoral credit concentrations if not matched by growth in borrowers’ income and repayment capacity. Six sectors accounted for 72.9% of banking sector credit at end Q2 of 2026, up from 71.1% a year earlier.

In response, the CBSL raised the Overnight Policy Rate (OPR) by 100 basis points to 8.75% on 26 May 2026, its first policy rate increase since June 2023. It also tightened loan-to-value (LTV) limits, which cap the size of a loan relative to the value of the asset financed. In two rounds, in November 2025 and May 2026, the maximum LTV for new commercial vehicles was cut from 80% to 60% and for other new vehicles to 40%, while the limit for used vehicles was lowered from 70% to 60%. A maximum LTV of 70% on gold-backed credit took effect on 25 May 2026, alongside tighter risk weights. As these measures transmit with a lag, their impact on the pace and composition of credit growth would require continued monitoring, the CBSL said.

Meanwhile, the CBSL’s Credit Supply Survey showed loan demand continued to strengthen in Q2 of 2026 across the retail, corporate, SME and state-owned enterprise (SOE) sectors, although at a more moderate pace than in Q1. The expansion was largely supported by higher working capital requirements, demand for short-term loans and a revival of investment activity.

Banks expected both lending activity and credit demand to remain positive in Q3 of 2026. However, their willingness to lend is expected to increase at a slower pace, reflecting a more cautious outlook amid anticipated inflationary pressures, rising operating costs, exchange rate volatility and geopolitical uncertainties.

Don’t set better goals. Run better experiments

November has an unusual reputation, somewhere along the way, it became the waiting room for January. It’s too late to pretend the year unfolded exactly as planned, yet too early to write it off completely. Around this time, many professionals begin mentally closing the books on the year. We replay the promotion that didn’t happen, the business idea we never launched or the qualification we meant to complete.

Without realising it, we start treating an unfinished year like a finished one. Then comes the familiar promise. “I’ll start properly in January.” Yet I wonder if that’s one of the biggest career mistakes we make.

This is what behavioural scientists call the “fresh start effect”: our tendency to pursue goals after temporal landmarks such as New Year’s Day, birthdays or even the beginning of a new month. Those moments create a psychological separation from our past mistakes, making change feel easier. The problem is that waiting for a fresh start often means overlooking the one we already have.

The challenge is that goals often ask us to predict who we’ll become months from now. But what if, instead of thinking like fortune tellers, we think like scientists? This month offers us the opportunity to experiment.

Instead of promising yourself you’ll become a confident public speaker next year, volunteer to present at your next team meeting and see what happens. Instead of deciding that 2027 will be the year you build your professional network, invite just one interesting person for coffee before this month ends and make an observation.

Instead of announcing you’ll launch a business “one day,” spend a week conducting a survey from potential clients. The objective isn’t to prove you’re ready, it’s to discover what happens when you begin. Goals become tied to our identity and when we don’t achieve them, we begin questioning ourselves. Experiments don’t carry that burden. If an experiment succeeds, you’ve learnt something worth repeating. If it fails, you’ve learnt something worth changing. Either way, you’ve made progress.

Curiosity is remarkably difficult to discourage because it isn’t trying to protect your ego. It’s trying to understand reality. Today and tomorrow’s workplace rewards that type of mindset.

The World Economic Forum’s Future of Jobs Report 2025 identifies analytical thinking, curiosity, resilience, flexibility and lifelong learning among the fastest-growing skills employers value as artificial intelligence reshapes work. None of those qualities belong to people who believe they already have the answers. They belong to people willing to test, adapt and improve.

Artificial intelligence makes this even more relevant. Sure, AI can draft a business plan, write a proposal, analyse data and generate ten marketing campaigns before you’ve finished your morning coffee. But what A.I cannot do is replace the lessons that only action can teach, which is why the real answers are found by experiments.

So before you spend December writing ambitious goals for next year, ask yourself a different question. What experiment can I run before this year ends?

Hold protests after Asean Summit, security official tells groups

A security official overseeing preparations for the country’s hosting of the 49th Association of Southeast Asian Nations (Asean) Summit has appealed to groups planning protests to hold their protests after the regional gathering as a way for Filipinos to show respect to visiting foreign leaders.

Retired Major Gen. Potenciano Camba, deputy director general for operations of the Asean National Organizing Council, said the government recognized the public’s right to peaceful assembly but hoped protesters would defer their demonstrations until after the summit.

‘We are a democracy, so we should listen to the voices of our fellow Filipinos. The Philippine National Police is prepared for this and is capable of managing such activities,’ Camba told state-run PTV-4 on Monday.

‘However, it would be better if our fellow Filipinos could hold their protests after our hosting duties because it would not look good to have protests while we have visitors,’ he said.

‘It is like having guests in your home: you prepare for them and show them respect. I hope our fellow Filipinos will understand that we have visitors,’ he added.

The Philippines is preparing to host the 49th Asean Summit from Nov. 15 to 17, which will bring together leaders and delegations from the 11 member states, as well as dialogue partners China, South Korea, Japan, the United States, Australia, New Zealand, India and Canada.

Camba said more than 20 government agencies, along with local government units in Metro Manila, had been mobilized to secure the visiting leaders, delegates and media personnel.

The security preparations cover airports, roads, hotels, meeting venues and the Philippine International Convention Center in Pasay City, the main venue of the summit.

He said the security committee also included the Department of the Interior and Local Government, Philippine National Police, Department of National Defense, Armed Forces of the Philippines, Department of Transportation and Philippine Coast Guard.

Cybersecurity

Authorities are also working with the Department of Information and Communications Technology to monitor cyberspace and prevent the spread of disinformation and fake news during the summit.

Camba appealed to the public to refrain from spreading false information, saying the country’s reputation was at stake.

He said the security arrangements also covered ordinary Filipinos, although he acknowledged that the arrival of foreign leaders and road restrictions would cause inconvenience to commuters and motorists.

The Metropolitan Manila Development Authority and local governments have issued traffic rerouting plans to manage vehicle movement during the summit.

President Marcos declared Nov. 16 to 18 as special non-working days in the National Capital Region to alleviate traffic congestion and allow the government to ensure the safety and security of participants in the high-level event.

Climate change: Heat stress threatens millions of jobs, billions of dollars in six countries -ILO

Rising temperatures and heat stress could wipe out millions of jobs, undermine productivity and inflict billions of dollars in annual economic losses across six countries, with Ethiopia, Ghana, Senegal and Sri Lanka among those facing particularly severe consequences, new studies by the International Labour Organisation (ILO) have warned.

The studies, covering Ethiopia, Ghana, Lebanon, the Maldives, Senegal and Sri Lanka, project that climate change will increasingly threaten workers’ health and safety, employment opportunities, business operations and national economies, particularly in countries with large concentrations of outdoor and labour-intensive jobs.

Launched at a high-level online event on October 29, 2026, the studies warned that the consequences of rising temperatures could become significantly worse over the coming decades unless governments, employers and other stakeholders urgently strengthen workplace adaptation and climate resilience measures.

According to the projections, even under a low-emissions scenario, climate change could account for the loss of about 1.78 million full-time equivalent jobs in Ethiopia, 550,000 in Ghana, 145,000 in Sri Lanka, 129,000 in Senegal, 21,700 in Lebanon and 2,400 in the Maldives by 2040.

The economic implications are equally alarming, with annual Gross Domestic Product (GDP) losses projected to reach $33.3 billion in Ethiopia, $26 billion in Sri Lanka, $23.2 billion in Ghana, $10.5 billion in Senegal, $2.6 billion in Lebanon and $575.5 million in the Maldives by the same year.

The ILO further warned that the situation could deteriorate substantially by 2060 under high-emissions scenarios, with projected job losses reaching between five million and six million in Ethiopia, while annual GDP losses could rise to between $79.4 billion and $310.3 billion.

In Ghana, the Maldives and other countries covered by the studies, the long-term economic and employment consequences are also expected to intensify as temperatures continue to rise.

The findings underscore the growing threat climate change poses to the world of work, particularly in agriculture, construction, fisheries and transport, where workers are frequently exposed to extreme temperatures and have limited opportunities to avoid prolonged heat exposure.

‘Every single industry and every single workplace will stand to benefit from adapting workplaces to heat stress,’ Andreas Floris, lead author of the studies, said.

The studies, commissioned by the ILO with support from the Climate Vulnerable Forum and the Vulnerable 20 Finance Ministers (CVF-V20), through funding from the CVF-V20 Joint Multi-Donor Fund, provide evidence of the current and projected effects of heat stress on workers, labour markets and national economies.

They also identify policy interventions required to protect workers’ health and livelihoods, sustain enterprise productivity and strengthen national resilience against rising temperatures.

The ILO noted that the severity of heat stress is influenced not only by national climate conditions but also by the structure of economies and employment, as well as the capacity of countries to adapt to changing environmental conditions.

Speaking on the findings, Marlene Attallah, Deputy Director General, Ministry of Labour, Lebanon, cautioned against treating workplace heat protection as an unnecessary financial burden on employers.

‘Protecting workers from heat stress should not be viewed as an additional burden but as an investment in workers’ health, productivity and working conditions,’ she said.

Among the measures recommended by the studies are stronger occupational safety and health systems, expanded social protection, climate-resilient economic planning and workplace adaptation strategies.

The ILO also emphasised the importance of social dialogue in developing effective responses that take into account the interests and experiences of governments, employers, workers and communities affected by extreme heat.

Alpha Dia, Professor and Researcher at Senegal’s National Employers’ Council (CNP), described social dialogue as a critical instrument for addressing the emerging challenge.

‘Social dialogue is our best adaptation tool to heat stress. It will protect workers while reinforcing the resilience of companies,’ he said.

Similarly, Ella Frankel of the International Union of Food, Agricultural, Hotel, Restaurant, Catering, Tobacco and Allied Workers’ Association (IUF), stressed the need to ensure that workers are not forced to sacrifice their health to retain their means of livelihood.

‘No worker should ever have to choose between their health and their livelihood,’ she said.

The ILO said advancing a just transition and promoting decent work would be essential to helping workers and enterprises adapt to changing climate conditions without compromising health, employment and productivity.

It pointed to its Guidelines for a Just Transition towards Environmentally Sustainable Economies and Societies for All as an important policy framework for addressing the employment and social consequences of environmental and climate-related changes.

Sri Lanka to take high-tech industries and SMEs global in partnership with German biz

The Government is working to expand cooperation with Germany and other international partners in advanced manufacturing, investment and trade, with the aim of elevating Sri Lanka’s industrial sector to the international stage, Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe stated.

He made these remarks while attending the ‘Top German Brands 2026 – The Ball Edition’ event, organised in Colombo by the German Chamber of Commerce and Industry in Sri Lanka (AHK Sri Lanka) and the German Embassy, as the Chief Guest.

The Deputy Minister emphasised that Sri Lanka has achieved economic stability following the economic challenges faced over the past few years, and that the Government’s objective is to implement reforms that will accelerate economic growth in the years ahead.

He also highlighted the importance of strengthening links with international markets to expand Sri Lanka’s export economy, while progressively removing existing trade barriers by 2029 and creating opportunities for new trade agreements.

He noted that cooperation with Germany would be particularly important in transforming Sri Lanka’s manufacturing sector from industries primarily based on low labour costs towards advanced technology and high value-added production. In this regard, the Government is focusing on infrastructure development, expanding port and airport capacity, and strengthening vocational skills.

The Deputy Minister further revealed that the Ministry is implementing a program to prepare between 300 and 400 Sri Lankan small and medium-sized enterprises (SMEs) to access global markets. He stated that the Government expects the support of the German business community and other international partners in providing these enterprises with access to technology, financial management expertise and international markets.

He also emphasised the need to further strengthen public-private partnerships to develop vocational skills among young people and address the human resource requirements of the industrial sector.

The event was attended by German Ambassador Dr. Felix Neumann, AHK Sri Lanka Head Martin Klose, Sri Lanka Ports Authority Chairman Dr. Parakrama Dissanayake along with diplomats, German and Sri Lankan business leaders and policymakers.

James Gunn, Peter Safran exit DC Studios CEO roles

DC Studios is seeing another seismic shift within its hierarchy following news that filmmakers James Gunn and Peter Safran will depart their roles as the company’s chairman and co-chief executive officers after just four years.

While they will no longer be in executive positions, Gunn and Safran will remain producers on the still-young DC Universe and return to doing movies and series full time.

Both are currently working on post-production for “Superman” sequel “Man of Tomorrow” coming out in July.

Former Marvel executive Jeremy Latcham will take on the role beginning December 1. Latcham previously worked with Gunn on “Guardians of the Galaxy.”

Latcham, who will now head DC Studios’ whole creative slate alongside production, talent, and strategy, was also involved in early Marvel entries like “Iron Man” and “The Avengers.”

The executive moves are the latest update from Paramount’s acquistion of Warner Bros., with Latcham reporting to Skydance Motion Picture Group co-chairs Dana Goldberg and Josh Greenstein.

Gunn and Safran had initially indicated they were not leaving after Warner Bros. was sold; Safran’s contact was expiring and is being considered for an executive role at Netflix.

’Cyberbullying’: Court rejects Sowore’s request to have DSS’ lawyer as witness

A Federal High Court in Abuja has rejected the request of the presidential candidate of the African Action Congress (AAC), Omoyele Sowore, to compel a lawyer to the Department of State Services (DSS), Akinlolu Kehinde (SAN), to testify as a defence witness in his ongoing trial for alleged cyberbullying.

In a ruling yesterday, Justice Mohammed Garba Umar set aside the subpoena earlier issued to Kehinde.

Justice Umar held that lawyers owe their clients a strict duty of confidentiality and cannot ordinarily be compelled to disclose communications on legal representation.

The judge also held that a legal practitioner could only be compelled to testify under limited circumstances, particularly where the evidence sought is connected to an uncontested matter or an issue that would not prejudice the interests of the client.

After the ruling, Sowore’s lawyer, Ruben Adakole, said his client had applied for the issuance of subpoenas on a chieftain of the All Progressives Congress (APC), Joe Igbokwe, and the Chairman of the Independent National Electoral Commission (INEC), Prof. Joash Amupitan, as witnesses.

Justice Umar granted the request and directed that subpoenas be issued to the listed witnesses to appear in court.

He adjourned the matter till tomorrow for the subpoenaed witnesses to appear in court.

The DSS is prosecuting Sowore for his August 2025 published posts on X (formerly Twitter) and Facebook, in which he described President Bola Ahmed Tinubu as a ‘criminal’ and accused him of lying about the level of corruption in the country.

’The Fall Risk’ by Abby Jimenez

I think moving houses is one of the most stressful things, at least for me. There is so much that one has to do before actually moving. You have to find a house in a neighbourhood you like. It has to be just right for you, and it has to be within your budget. This is the hustle you go through when you want to move. It is your decision. Now imagine having to move because if you don’t, your life will literally be in danger.

That is the life Charlotte, one of the main characters in Abby Jimenez’s short story, The Fall Risk, is subjected to: having to move houses because her safety depends on it. This time, Charlotte has just moved into another place, now on the second floor, where it will take her stalker, George, a bit of time to reach her.

Charlotte works from home because she cannot afford to be outside, where her stalker can easily find her. One Valentine’s Day weekend, the stairs leading to her new apartment are removed by mistake, leaving her stuck inside. But this is nothing new to her. She is already used to being confined to her home.

‘The isolation was the worst part. Well, the second worst part. The first was the afraid for my life at all times thing. But I used to be social. I used to work in an office with coworkers, and we’d go out for drinks, and I’d go on vacations and have lunches with people,’ she thinks to herself, wondering how her life has taken a turn for the worse because of one person who feels entitled to her existence.

I imagine how tough this kind of life must be. You have to look over your shoulder, even in your own home, because you never know when your stalker will figure out your location.

Jimenez touches on the consequences of a system that fails to protect women like Charlotte, who are scared to live their own lives because there is a man on the loose determined to make her life a living hell. Because he can.

The emotional damage caused by stalking is evident in Charlotte’s experience. ‘I was furious at the system that allowed this. The law enforcement and courts that didn’t protect me…’ Charlotte thinks to herself.

It is during this incident with the stairs that Charlotte meets Seth, her next-door neighbour. With the stairs removed, they are both stuck in their apartments for three days. Seth is an arborist who loves to talk about trees every chance he gets. His divorce is finalised on the same day the two meet. He struggles with the fact that his marriage ended even though he had done everything right.

With that experience, trust doesn’t come easily to him. It wouldn’t come easily to anyone who has experienced betrayal from the person who vowed to love them and be faithful to them.

But with their accidental confinement, something else happens between the two neighbours. They decide to make the most of the three days, and a friendship is formed. They talk freely from their balconies, which have become their designated meeting point. Charlotte, understandably, has a complicated relationship with trusting men, which is why she carries bear spray everywhere she goes, even if that is only as far as her balcony.

Yet, in Seth, she finds someone worth trusting. Someone who keeps his word. And for a person who has spent so much time living in fear, that means something.

Jimenez makes it a point to showcase how knowing your neighbour, or at least the people who live close to you, can make your life much safer. Knowing that someone nearby can come to your rescue, should you need it, makes life a bit more bearable, especially in a case like Charlotte’s. As her friend and self-defence coach reminds her over the phone: ‘Knowing your neighbour makes you safer.’

I think of my neighbour next door, whom I have never seen, but I know there is someone who lives there. I know that because I can hear life happening as I head out of or into my apartment. I think we have become such individualists to the extent that this has become the new normal. But this is not the case at my parents’ home. We know our neighbours. They know us. We are a community.

The story is fast-paced and packs quite a lot of content into a few pages. It is warm and hopeful. Jimenez’s writing is humorous, relatable, and full of lovable characters. Looking at Charlotte and Seth’s friendship, I wonder how much better off we all could be if we allowed ourselves to live a little and create a community that can catch us when we fall.

National Christian Council raises concerns over anti-terrorism, organised crime and NGO Bills

The National Christian Council of Sri Lanka (NCCSL) has issued a statement raising concerns over the proposed Protection of the State from Terrorism Bill (PSTA), Prevention of Organised Crimes Bill (POCB), and Non-Governmental Organisations (Registration and Supervision) Bill.

NCCSL said it believes that the rule of law must remain central to all efforts to maintain public security and respond to corruption. The Christian faith affirms the inherent worth and dignity of every human person, calling us to stand for a society where justice is administered fairly, public institutions remain accountable, and no individual is deprived of fundamental rights through arbitrary State action. The statement follows:

Affirming the positives

Recognising the State’s responsibility: We recognise the legitimate duty of the State to combat terrorism, suppress organised crime, and protect citizens, including aligning national frameworks with international instruments such as the UN Convention Against Transnational Organised Crime.

Welcoming the repeal of the PTA: We welcome the long-overdue repeal of the Prevention of Terrorism Act (PTA) No. 48 of 1979, which has for many years been abused by governments to suppress legitimate dissent.

Raising severe dangers and concerns

Despite these steps, a rigorous evaluation of the proposed package of Bills – comprising the Protection of the State from Terrorism Bill (PSTA), Prevention of Organised Crimes Bill (POCB), and Non-Governmental Organisations (Registration and Supervision) Bill – reveals alarming dangers:

1. Overbroad definitions and protecting State over people: The PSTA shifts focus from protecting civilians to protecting State institutions against dissent. Defining terrorism and serious crime through vague criteria like ‘unduly compelling a Government’ or considering dress, tattoos, and associations risks criminalising identity and peaceful protests.

2. Erosion of judicial oversight and executive overreach: Extraordinary detention powers up to 12 months are vested in executive officials, such as the Defence Secretary or senior police, rather than judicial officers. Magistrates are stripped of discretion, compelled to give effect to executive orders without granting bail. Furthermore, critical bail safeguards agreed upon by advisory committees were secretly removed from the tabled PSTA text. Suspects face cumulative custody extending up to three years.

3. Expanded military powers and digital surveillance: The PSTA expands warrantless arrest powers to armed forces and coast guard personnel, while restricting suspect legal counsel through subordinate circulars. Concurrently, the POCB permits intrusive digital surveillance, device decryption, and subscriber data extraction without court orders.

4. Suppression of civil society under the NGO Bill: The NGO Bill mandates prior authorisation, penalises unregistered operations with fines up to Rs. 1 million, enforces warrantless property inspections, and requires NGOs to align with Government policy. This crosses the line from regulation to control, which is contrary to human rights norms. Contrary to Government claims, UN experts and research establish that these blanket restrictions contradict FATF Recommendation 8’s risk-based approach.

5. Cumulative impact and lack of consultation: Together, these laws form a mutually reinforcing architecture of suppression drafted without transparent, inclusive consultation with relevant stakeholders and civil society including religious bodies.

Conclusion and call to action

Legislation dealing with national security or corruption must never suppress dissent or dismantle democratic accountability. We call upon the Government of Sri Lanka to immediately withdraw or substantially overhaul these draft bills. True national security and good governance are achieved when human dignity is protected, equality before the law is guaranteed for all and the State wields its power with accountability and in accordance with the Constitution.

The statement was signed by: Rev. Saman Perera – Chairperson of the NCCSL, Moderator, Presbytery of Sri Lanka; Rt. Rev. Dushantha Rodrigo – Bishop of Colombo – Church of Ceylon; Rt. Rev. Dr. V. Pathmathayalan – Bishop of Jaffna Diocese – The Church of South India (C.S.I); Rev. Kingsley Weerasinghe – President of Methodist Church Sri Lanka; Associate Pastor Lakmal Wijeratne – President of Christian Reformed Church; Rev. Wilee Ranasinghe – President of Sri Lanka Baptist Church; Rt. Rev. Nishantha Fernando – Bishop of Kurunagala – Church of Ceylon; Col. Nihal Hettiarachchi – Territorial Commander of the Salvation Army Sri Lanka; Rev. Dr. Romesh Bulathsinghala – President of the Church of Four-Square Gospel; Rev. Dr. Chrisso Handy – Superintendent/Chair – Assemblies of God; Back to The Bible Broadcast; The Ceylon Bible Society; Christian Literature Society; Student Christian Movement; Young Men Christian Association; Young Women Christian Association; Theological College of Lanka; Colombo Theological Seminary; Youth for Christ, and Rev. Sujithar Sivanayagam – General Secretary of the NCCSL.

What’s the status of your agency’s 2024 PBB processing?

Only two out of 315 government agencies have received their 2024 Performance-Based Bonus (PBB) funding, according to the Department of Budget and Management (DBM).

Based on its online tracker released on Nov. 6, the DBM has released the Special Allotment Release Order (SARO) on Oct. 29 for Central Luzon State University amounting to P24.39 million, and for Nueva Ecija University of Science and Technology worth P1.146 million.

It is now up to the two state universities to process the payment of PBB to their eligible officials and employees.

Eighty-two percent of the agencies, or 258, are still ‘for validation,’ including the Office of the President. Meanwhile, 51 have already submitted their Form 1.0, which lists qualified officials and employees for the PBB grant.

These agencies have been reported to be under compliance review and will only be validated through an issued final eligibility assessment.

Meanwhile, 51 agencies have already submitted their Form 1.0, which lists qualified officials and employees for the PBB grant.

These agencies include the Office of the Vice President, 22 executive departments and their attached offices, the Presidential Communication Office, 22 state universities and colleges, and six other executive offices.

The Department of Education submitted its Form 1.0 as early as Oct. 7, but it was returned by the DBM on Oct. 28 for revision.

The DBM is currently reviewing the submitted Form 1.0 of two state universities and one agency – Department of Labor and Employment, Palawan State University, and University of the Philippines System. The SAROs for their 2024 PBB funding shall be released once the Form 1.0 they submitted are verified to be correct.

The latest update of DBM’s online 2024 PBB tracker as of Oct. 30 may be viewed here:

Eligible government workers are set to receive their 2024 PBB before the end of the year, with President Ferdinand Marcos Jr. ordering the release to be prioritized for teachers and personnel in public schools.

The PBB is a ‘top-up bonus’ given to government employees-ranging from 45.5 percent to 65 percent of their monthly basic salary-based on their performance and contributions to the accomplishment of their department’s overall targets and commitments.

The PBB is a ‘top-up bonus’ given to government employees-ranging from 45.5 percent to 65 percent of their monthly basic salary-based on their performance and contributions to the accomplishment of their department’s overall targets and commitments.

Job order (JO) and contract of service (COS) employees, however, are not eligible for PBB and other standard government bonuses and incentives.

Government workers should receive their year-end bonus and P5,000 cash gift together with their first salary this November, with the DBM reminding agencies to release the benefits on schedule.

For the last two months of the year, each eligible government employee is also entitled to receive additional bonuses, amounting to as much as P55,000: Productivity Enhancement Incentive (PEI): a P5,000 cash incentive traditionally given starting mid-December;

Service Recognition Incentive (SRI): a lump-sum bonus of up to P20,000, which depends on a formal directive or authority from the President, and paid not earlier than Dec. 15;

Collective Negotiations Agreement (CNA) Incentive: incentive of up to P30,000 per employee, provided through agency savings and active CNA provisions, which is disbursed by December.