Bank of Ceylon (BOC), Sri Lanka’s premier financial institution, has reported a robust performance for the first quarter of 2025, underscoring its financial strength and strategic agility in a challenging economic environment.
The Bank recorded a Profit Before Tax (PBT) of Rs. 30.0 billion, a 222% increase compared to Q1 2024. Profit After Tax (PAT) rose to Rs. 17.1 billion, reflecting effective cost management and strong core earnings. Total assets reached Rs. 5.3 trillion, highlighting BOC’s growing financial footprint.
BOC’s impressive performance was driven by a 95% year-on-year growth in net interest income, totaling Rs. 50.5 billion, as well as improved operational efficiency. Fee and commission income rose by 5% to Rs. 5.2 billion, supported by digital banking and card services. Operating income climbed 88% YoY to Rs. 57.2 billion, while the Bank maintained a healthy cost-to-income ratio of 32.4%.
Despite economic headwinds, BOC demonstrated resilience in credit risk management with a Stage 3 loan ratio of 7.4% and maintained strong capital adequacy ratios well above regulatory requirements.
CEO Russel Fonseka said: “Our financial results underscore BOC’s commitment to growth, innovation, and national economic stability. We are expanding access, driving digital transformation, and reinforcing our leadership.”
The Bank launched its BOC Flex app, offering real-time services and cloud-based features aimed at improving customer experience. Chairman Kavinda de Zoysa reaffirmed the Bank’s focus on SME support, financial inclusion, and digital innovation.
BOC Chairman, Kavinda de Zoysa said the bank operates over 2,300 service touchpoints locally and has an expanding international presence. Fitch Ratings recently upgraded its National Long-Term Rating to ‘AA-(lka)’, reinforcing its strong market standing.
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