People’s Bank denies NPL write offs

Wednesday, 17 May 2023 00:40 - - {{hitsCtrl.values.hits}}

The People’s Bank yesterday denied reports that the Non-Performing Loans of certain high profile companies and individuals have been written off.

“Relating to recent views expressed on People Bank’s non-performing loan write-offs, as shared in certain social media groups, the Bank’s Management hereby wishes to categorically deny such statements as being true. To save any future doubt, none of the loans so discussed in the said forums have been written off,” the Bank said in a statement.

The list was based on a statement made by Illankai Tamil Arasu Kachchi (ITAK) MP Shanakiyan Rasamanickam last year citing a 2021 COPE report.