Sri Lanka’s state owned People’s Bank has increased its post tax profit by 53.5 percent to Rs.4.1 billion for the half year ended June 30, 2011, compared with the corresponding period of the previous year.   According to the accounts released by the bank, the interest income of the entity rose 5.1 percent to Rs.28.9 billion while the provisions for bad and doubtful debts and loans written off fell 80.2 percent to Rs.108 million.   Meanwhile the income statement showed a 123.4 percent to Rs.34.5 million decline in value of investments.

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