ComBank creates history in 2Q as first private sector bank with assets of Rs. 3 trn

The Commercial Bank of Ceylon has become the first private sector bank in Sri Lanka to surpass Rs. 3 trillion in assets, a milestone achieved in the second quarter of 2025 on the back of solid growth in key indicators at Group and Bank level in the six months ending 30th June.

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Comprising of Sri Lanka’s largest private sector bank, its subsidiaries and an associate, the Group reported in a filing with the Colombo Stock Exchange (CSE) that Group assets totaled Rs. 3.13 trillion, and Commercial Bank’s assets reached Rs. 3.03 trillion at the end of the period reviewed, growing by Rs. 255 billion (8.88 percent) and Rs. 242 billion (8.66 percent) respectively over six months.

Group gross income for the six months grew by 8.53 percent to Rs. 177.04 billion, while interest income improved by 5.31 percent to Rs. 146.65 billion. Interest expenses reduced by 3.48 percent to Rs. 77.84 billion, resulting in net interest income growing by 17.39 percent to Rs. 68.81 billion. Total operating income increased by 20.06 percent to Rs. 92.76 billion, while the Group’s provisions for impairment charges and other losses declined by 40.41 percent to Rs. 11.33 billion. This reduction was primarily due to the previous year’s figure including an additional provisioning for the Sri Lanka International Sovereign Bonds (SLISBs) held by the Bank.

Consequently, net operating income for the six months grew by a robust 39.81 percent to Rs. 81.43 billion. Curtailing operating expense growth to just 5.62 percent to Rs. 25.84 billion, resulted in operating profit before taxes on financial services improving by 64.57 percent to Rs. 55.59 billion.

Taxes on financial services increased by 88.30 percent to Rs. 8.77 billion, resulting in Group profit before tax of Rs. 46.81 billion for the six months, reflecting growth of 60.77 percent. Income tax increased by 53.14 percent to Rs. 15.65 billion, generating net profit of Rs. 31.17 billion for the Group in the period reviewed, reflecting bottom line growth of 64.90 percent. In the meantime, the other comprehensive income for the six months under review recorded a net gain of Rs. 205.44 million as opposed to the net loss of Rs. 8.35 billion recorded last year during the same period.