People’s Bank reports all-time-high 1H Rs. 28 b PBT

PEOPLE'S Bank yesterday said it reported an all-time-high Profit Before Tax (PBT) of Rs. 28 billion in the first half of 2025.

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The bank reported an operating income of Rs. 80.8 billion and Profit After Tax (PAT) of Rs. 18.2 billion during this period.

"This achievement is particularly noteworthy, as this profit was recorded after recognising significant impairment charges on exposures to several State-owned enterprises (SOEs)," the bank said in a statement.

The bank's net interest income rose to Rs. 69.3 billion during the period, compared to Rs. 27.6 billion in the corresponding period of 2024, reflecting the timely repricing of assets and liabilities in line with changing market interest rates. Consequently, net interest margins improved to 4% in 1H 2025 from 3.4% as of end-2024. Net fees and commissions reached Rs. 8 billion, recording a 16.8% growth, the highest ever for the same period. Total operating expenses stood at Rs. 33.4 billion, down from Rs. 28.7 billion a year earlier.

Customer deposits reached Rs. 3.1 trillion as of end-June 2025, compared to Rs. 2.8 trillion as of end-2024, while net loans stood at Rs. 1.6 trillion, up from Rs. 1.5 trillion in end-2024. Total assets rose to Rs. 3.6 trillion on a solo basis, up from Rs. 3.3 trillion six months earlier, the bank said.

As of 30 June 2025, the Bank's Tier I and Total Capital Adequacy Ratios stood at 12% and 16.9%, respectively (end-2024: 10.9% and 16.5%). On a consolidated basis, the ratios were 13.2% and 17.6% (end-2024: 12.6% and 17.7%).