Sri Lanka, Oct. 25 -- People's Bank successfully concluded the BASEL III Compliant Tier 2, Unlisted, Rated, Unsecured, Subordinated Redeemable Debentures with non-viability write down to the extent required by the Central Bank of Sri Lanka (CBSL) by raising more than Rs 10 billion last month.

The sum raised by way of the debenture will enhance the Bank's Tier 2 Capital base and further boost the Bank's strong Total Capital Adequacy ratio. The subordinated nature and medium to long term duration of the Debentures issued in compliance with requirements under BASEL III would enable the Bank to expand its lending portfolio by way of enabling the Bank to further augment its regulatory capital buffers from its current levels.

The Bank intends...