People’s Bank has made a profit of Rs. 7400 million in the first quarter of this year.
People’s Bank’s pre-tax profit for the first quarter ended March 31 was Rs. 11 billion and post-tax profit was Rs. 7.4 billion, said People’s Bank Chairman Sujeewa Rajapaksa.
Mr. Rajapaksa said net operating income was 71.4% or Rs. 3,040 million in the first quarter of this year, an increase of 29.2% over the same period last year.
He also said that People’s Bank was able to earn over 20% of non-interest income in the first quarter.
With People’s Bank maintaining close to 40% of current and savings deposits, consolidated deposits grew by 62% to Rs. 2.3 trillion, he said.
He added that People’s Bank handled more than 70% of its total transactions through digital technology in the first quarter.