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| Chairman
Prof. Narada Fernando |
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| Chief Executive Officer
Clive Fonseka |
People’s Bank, one of Sri Lanka’s largest state-owned commercial banks, marks 64 years in operation today, affirming its role in expanding formal banking access and advancing financial inclusion.
Over the decades, the bank has adapted to the shifting market dynamics and policy priorities, with the recent efforts centred on scaling digital banking infrastructure to deepen the penetration in rural and remote regions.
With the consolidated assets exceeding Rs.3 trillion, People’s Bank stands as a national leader, significantly contributing to Sri Lanka’s socioeconomic development. Its customer-centric approach has enabled it to deliver a wide range of financial solutions through innovative digital platforms.
Currently, People’s Bank operates an extensive network of 751 branches and service centres, supported by over 7,600 dedicated staff members and serving a customer base of over 15.2 million.
Established under Act No. 29 of 1961, with the aim of uplifting the cooperative sector, rural banking and communities, People’s Bank was founded by the then Trade, Food, Cooperatives and Shipping Minister T.B. Ilangaratne, under the leadership of Prime Minister Sirimavo Bandaranaike.
The bank’s first Chairman Vincent Subasinghe played a vital role in transforming the cooperative sector by pioneering the use of Sinhala and Tamil in banking, thereby making financial services more accessible to the broader population.
People’s Bank was the first to introduce a range of public savings products, including children’s savings and dedicated accounts for women. It also pioneered pawning services in 1961, providing enhanced security and attractive interest rates. These innovations revitalised the sector and fostered a strong culture of savings.
The bank’s diverse portfolio of services includes specialised accounts and loan schemes designed to support various demographics and industries, empowering individuals to enhance their quality of life and develop sustainable businesses. Beyond traditional banking, People’s Bank plays a vital role in national development, supporting sectors such as exports, education, healthcare and infrastructure.
In international trade, the bank collaborates with over 900 global financial institutions, facilitating import and export operations through Letters of Credit and guarantees, thus strengthening Sri Lanka’s presence in the global marketplace.
In line with the evolving market needs, People’s Bank embarked on a digital transformation journey in 2015, introducing a suite of innovative digital solutions. Today, the bank serves over 3.6 million digital customers, with more than 80 percent of transactions now processed digitally.
Rooted in its values of service and inclusion, People’s Bank actively supports community development through its flagship CSR programme ‘Mahajana Mehewara’, which focuses on improving access to education, healthcare, religious services and sustainability initiatives.
People’s Bank’s excellence has been recognised with numerous local and international accolades, including honours at Best Management Practices Company Awards 2025, CRIB CEO’s Forum and Institutional Rating Awards 2025, AICPA & CIMA – JXG Pinnacle Awards, National Business Excellence Awards, LankaPay Technnovation Awards and commendations from esteemed global entities such as Euromoney, Asian Banker, AsiaMoney, World Finance and The European.
