Sri Lanka, Nov. 4 -- People's Bank has achieved a significant milestone with Fitch Ratings upgrading its National Long-Term Rating by two notches, from 'AA-(lka)' to 'AA+(lka)', with a Stable Outlook.

This is only the second time the bank has a received a double notch rating upgrade in its history with the first instance being in 2010. The upgrade places People's Bank ahead of all private sector commercial banks in Sri Lanka on Fitch's national rating scale, reaffirming its position among the country's strongest and most trusted financial institutions. With this upgrade, People's Bank now jointly enjoys the highest National Long-Term Rating among domestic commercial banks, while surpassing the ratings of leading private sector banks. The...