Press briefing of Cabinet Decision taken on 2011-08-03

The Annual Report and Accounts of the People's Bank its Subsidiaries - 2010

- The Cabinet granted approval to present the Annual Report and Accounts of the People's Bank for the year 2010 in Parliament. Cabinet observed that the performance of the People's Bank has been impressive and that the profit before tax during the year 2010 has increased by 44.5% when compared to the previous year. The amount of deposits have also shown a sharp growth and non-performing loan ratio has also decreased from 6.7% in 2009 to 5% in 2010. The Cabinet commended the Bank performance for the year 2010 which exceeded projections as one of the best performing Bank in Sri Lanka and its highest ever after tax profit in its 49 year history.