State-owned People's Bank on Tuesday said its pre-tax profit exceeded Rs 5.6 billion while capital funds reached Rs 16 billion for the year ending December 31, 2008.
In a statement the Bank said it has shown continuous impressive performance, in profits and balance sheet growth over the past eight years.
"The Bank's unaudited financials show profit before taxation and appropriations reaching its highest level of Rs 5.6 billion in the 2008 financial year, whilst profit before tax for the group surpassed Rs 7.2 billion.
The Bank's profit before taxation indicated a growth of 13.2% whilst profit after taxation recorded an impressive a 14% growth over the previous year," W. Karunajeewa, Chairman, People's Bank, was quoted as saying in the statement.
The Bank's capital funds saw an injection of Rs 1.5 bn by the government.
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