The Cabinet of Minister approved the proposal by Minister of Public Enterprise Development Kabir Hashim to increase the capital of People’s Bank with more Rs. 5 billion.

The People's Bank was established about 55 years ago and its assets at present amount to Rs. 1.4 trillion and it ranked the second largest bank in Sri Lanka and ranked 387 in Asia.

The bank has about 737 service centres and handles about 18 million accounts.