High impairment provisions neutralize solid 6-month operational growth of ComBank Group

The commercial Bank Group has reported a six month financial performance that mirrors the impacts of the country’s macro-economic variables, with solid operational gains negated by extraordinary provisioning in the second quarter for impairment charges and other losses.

Commercial Bank is Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be ranked among the Top 1000 Banks of the World and the only Sri Lankan Bank to be so listed for 12 years consecutively. It is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake, and Myanmar, where it has a microfinance company in Nay Pyi Taw.