Pan Asia Banking Corporation PLC has reported a Profit Before Tax of Rs. 1.65 billion and a Profit After Tax of Rs. 1.05 billion for the first quarter of 2026, alongside what the bank described as its highest-ever quarterly growth in deposits and advances.
The bank, chaired by Aravinda Perera with Naleen Edirisinghe as Director and CEO, said the performance reflected disciplined financial stewardship amid a volatile global macroeconomic backdrop driven by the ongoing Middle East conflict. Interest income rose 18% year-on-year, while interest expenses grew 23%, reflecting expansion in lending across corporate, SME and retail portfolios alongside deposit mobilisation to fund asset growth.
Net Interest Income rose 12% year-on-year compared with Q1 2025, supported by higher lending volumes within a stable-to-moderately-easing rate environment. Non-interest income recorded particularly strong momentum, with net fee and commission income up 55% on the back of increased lending activity, trade-related income and remittance inflows. Trade finance, card services and remittance products were the main contributors.
A focus on corporate and business banking customers with stronger credit profiles enhanced earnings stability and supported quality-driven growth, the bank said.
The result extends a Q1 2026 banking earnings wave that has dominated the local listed sector this week. Bank of Ceylon reported a Rs. 18.8 billion Q1 PAT, Commercial Bank crossed Rs. 3.5 trillion in total assets for the first time among private lenders, and Nations Trust Bank posted a Rs. 4.6 billion PAT. Telecom heavyweight Dialog Axiata and SLT‑MOBITEL earlier rounded out the corporate earnings cluster.
Source: The Island.
