ECONOMYNEXT – A report by the Committee on Public Enterprises (COPE) discovered that Sri Lanka’s state-owned Nationwide Financial savings Financial institution (NSB) has 7,972 million rupees in non-performing loans (NPLs), together with a multi-million greenback facility to a overseas agency, its chair advised parliament.
“The investigation centered on the financial institution’s excellent mortgage balances exceeding Rs. 5 million as of September 30, 2025. Beneath this class, out of a complete of Rs. 96,046 million, roughly Rs. 7,972 million has been categorized as non-performing loans,” Nishantha Samaraweera stated.
There have been 4 giant NPLs he stated.
A $9 million greenback mortgage was granted in June 2018 to R P I Non-public (Ltd), an organization registered within the Maldives.
The ability was issued as a syndicated mortgage alongside the state-owned Financial institution of Ceylon (BOC) because the NSB by legislation, just isn’t permitted to grant loans to overseas corporations.
Samaraweera went on to say that the debt had since ballooned to 14.73 million {dollars} with zero principal compensation made updated.
Regardless of the supposed use for lodge building, investigators discovered that not a single constructing had been erected, he stated.
The COPE report additionally flagged vital losses stemming from Bimputh Finance, a microfinance agency that entered liquidation in February 2025.
Regardless of a liquidation order from the Colombo Industrial Excessive Courtroom, and amidst winding-up procedures, the NSB did not provoke well timed restoration actions, Samaraweera stated.
Bimputh Finance, which secured loans of 200 million rupees in 2016 and 100 million rupees in 2019 as company ensures, presently owes the state financial institution over 258 million rupees in principal and curiosity.
The 4 prime NPLs embrace a Rs750 million facility to Techno-Park Growth Firm.
COPE has really useful a specialised forensic audit into these credit score approvals, citing a scarcity of correct restoration mechanisms and the unauthorized extension of grace intervals to defaulting debtors. (Colombo/Feb19/2026)
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