The Hon. Ravi Karunanayake

¶ 01 asked the Minister of Finance, Planning and Economic Development:

¶ 02 (a) Will he inform this House - (i) the date of incorporation of the People’s Bank; (ii) the names of the present Chairman, Directors of the Board and the CEO; (iii) the number of branches and employees; (iv) the paid-up capital, as of today; (v) whether it is in compliance with the Basel requirement of capital adequacy; and (vi) the steps taken to address non-compliance, if any?

¶ 03 (b) Will he also inform this House, separately, the - (i) profit for the last 10 years and expected profit for the next three years; (ii) return on investment for the last 10 years as per (i) above; (iii) administration cost and lending margin rate for the last five years; (iv) administration cost as a percentage of lending rate; and (v) balance sheet values from 2019 to date?

¶ 04 (c) Will he further inform this House - (i) whether loans over Rs. 1 billion were written off; (ii) the names of the entities involved; and (iii) the legal procedures adopted for the write-offs?

¶ 05 (d) If not, why?