People's Bank (Sri Lanka)


People's Bank is a state-owned commercial bank in Sri Lanka. Established on 1 July 1961, it has its head-offices at Sir Chittampalam A. Gardiner Street in Colombo. The bank offer both retail and corporate banking services, with a network of 739 local branches, service centers and has an asset base of LKR 1.873 trillion with over 14 million customers. People's Bank received a high national long-Term Rating of AA+ by Fitch Rating.

History

People's Bank was inaugurated on 1 July 1961, by T. B. Ilangaratne, Minister of Commerce, Trade, Food and Shipping. The first branch was open at Duke Street, Colombo. During the year, eight more branches were opened in Polonnaruwa, Hingurakgoda, Hambantota, Anuradhapura, Puttalam, Matale and Kandy in addition on the Foreign Branch in Colombo. The total number of employees stood at 169. 1962 The Head Office change to Union Place and 17 more branches were opened. After year start pawning services. Sometime later the head office relocated to its current location on Sir Chittampalam A. Gardiner Mawatha, Colombo 2. In 1967 The Bank agreed with Government of Dominion of Ceylon a new Agriculture Credit project for small farm sector.