March 05, 2024
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    Bank of Ceylon earns the highest profit in a single quarter in its history - Committee on Public Finance

    August 03, 2021

    The Committee on Public Finance chaired by Hon. Anura Priyadarshana Yapa which was held on the 30 th of July, disclosed that the Bank of Ceylon has reported a net profit of
    Rs. 19,656 tax-free income for the first quarter of this year ending on the 30 th April.

    In comparison, in the year 2019, the bank has raised net profit of Rs. 29,685 and the bet profit for the year 2020 is marked as Rs. 23,552 and was brought to the notice of
    the Committee on Public Finance when the Ministry of Finance presented its quality report for the year 2021.

    Whilst Hon. State Ministers Susil Premajayantha commended the profit made by a local bank even in the midst of the COVID-19, Hon. Dr. Harsha de pointed out that while the
    advantages of a state-owned bank making profit amidst a difficult global situation could be seen, the bank should also take steps to provide relief to its customers when they face extreme hardship.

    By this Report Issued under Section 10 of the Fiscal Management (Liability) Act No. 03 of 2003, The Ministry of Finance has made attempt to look in to the state
    economic situation extensively following the chapters pertaining to the economic context of the country, fiscal trends, performance of state-owned enterprises and foreign finance.

    Furthermore, in terms of the Value Added Tax Act No. 14 of 2002, the Government has recently issued Gazette Notification No. 2228/833 and Gazette Notification No. 2042/21 dated 26.10.2017 to amend the Gazette Notification No. 2042/21 which was approved at the Committee.

    Secretary to the Ministry of Finance and Treasury Mr. R. Attygalle, Secretary to the Ministry of Economic Policy and Plan Implementation, Mr. Anusha Pelpita, Mrs. Sunethra Gunawardena, Secretary to the Ministry of Primary Health Care, Epidemiology and Control of Disease Control and many other government officials were present at the meeting which was conducted online.

     

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