Peoples Bank Nonperforming loans Rs. 54 billion in 2021

COPE chairman Prof. Charitha Herath making a recommendation to the Chairman of People’s Bank Sujeewa Rajapakse, called for the submission of a comprehensive report within a month with details of companies in the private sector which were granted loans worth Rs.54 billion, which are currently in the non-performing status.

The COPE Chairman wanted the report to specify how the loans were evaluated and the persons involved in granting such approvals. The COPE chairman stated that that the information will also be published in the forthcoming COPE report.

The aforesaid recommendations were made by the COPE chair during the summoning of the People’s Bank before the Committee on Public Enterprises (COPE) to examine the Auditor General’s reports for the financial years 2018 and 2019 and its current performance.

The COPE Members also pointed out that in the future when loans are given, it should be done in a more systematic manner with a sense of responsibility when handling national wealth.

(Source: Daily Mirror)