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| Sunday, 8 August 2004 |
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| News Business Features Editorial
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People's Bank earns Rs.1,410 m in 2004 by Chanuka Mannapperuma People's Bank (PB) had received a rating of BBB+ (sri) (Triple B plus) national rating for implied long term unsecured senior debt from Fitch Rating (Sri Lanka) Ltd. The Banks Chairman, P. Amarasinghe, said that the bank has recorded a profit of Rs.1,410 million in the first half of 2004 compared to the profit of Rs.1,057 million earned during the same period last year. The current level of profitability has resulted in the bank reaching a significant milestone. The bank has now crossed over from a negative net worth situation to a positive net worth financial status, he said. "The Bank acknowledges the fact that even though profitability has been consistent and has been sustained since 2001,the bank has a long journey ahead to resolve the capital deficit relating to the Central Bank of Sri Lanka capital adequacy Ratio,"said Amarasinghe. |
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