People's Bank (Sri Lanka)

People's Bank
Company typeGovernment-owned corporation
IndustryFinance
Founded1961; 63 years ago (1961)
HeadquartersNo. 75, Sir Chittampalam A. Gardiner Mawatha, Colombo, Sri Lanka
Number of locations
Increase 741 branches (2020)[1]
Area served
Sri Lanka
Key people
ProductsBanking, financial and related services
RevenueDecrease Rs 235.529 billion [1]
(US$ 1.016 billion) (2020)
Decrease Rs 25.078 billion [1]
(US$ 381.634 million) (2020)
Increase Rs 13.565 billion [1]
(US$ 75.432 million) (2020)
Total assetsIncrease Rs 2,400.567 billion [1]
(US$ 11.867 billion) (2020)
Total equityIncrease Rs 139.111 billion [1]
(US$ 542.706 million) (2020)
Number of employees
Decrease 7,692 (2020)[1]
ParentMinistry of Finance
Subsidiaries
Websitewww.peoplesbank.lk
A branch of the bank in Kandy

People's Bank is a state-owned commercial bank in Sri Lanka. The second largest commercial bank in Sri Lanka. Established on 1 July 1961, it has its head-offices at Sir Chittampalam A. Gardiner Street in Colombo. The bank offer both retail and corporate banking services, with a network of 739 local branches, service centers and has an asset base of LKR 1.873 trillion (2019) with over 14 million customers. (70% local customers) People's Bank received a high national long-Term Rating of AA+ by Fitch Rating.[4] People's Bank most awarded state-owned company such as "Green Plus" "Carbon Conscious Award".[5] People's Bank became Sri Lanka's best performing bank. Bank mainly targets small and medium enterprise.[6] India has extended multiple credit lines and currency support to Sri Lanka, aligning with its policy of prioritizing neighboring nations and fostering strong relationships as a friendly neighboring country.[7]

  1. ^ a b c d e f g "People's Bank Annual Reports 2020" (PDF). People's Bank. 25 February 2021. Retrieved 12 May 2021.
  2. ^ "Peoples Bank - Personal & Corporate Banking | Investments & Loans".
  3. ^ "Ranjith Kodituwakku new CEO/GM at People's Bank | Daily FT".
  4. ^ "People's Bank". Archived from the original on 30 October 2010. Retrieved 13 November 2010.
  5. ^ "People's Bank highlights carbon management as key building block in 'People's Green Pulse' | Daily FT". www.ft.lk. Retrieved 13 November 2020.
  6. ^ "People's Bank Ranked Sri Lanka's Best Bank". EconomyNext. 8 September 2020. Retrieved 13 November 2020.
  7. ^ Livemint (9 July 2023). "India plays 'constructive role' in supporting Sri Lanka: Report". mint. Retrieved 23 August 2023.