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Dec 13, 2010 (LBO) - Bad loans at Sri Lanka's commercial banks are falling, and profits are rising and credit growth is picking up as the economy recovers and a leaves behind the effects of a burst bubble, a report by the island's banking regulator shows. Pre-tax profits had risen to 35 billion rupees at the 22 commercial banks by June 2010 up 48 percent from 23.
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8 billion rupees a year earlier.
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Profits from fund based activities had increased 14.0 percent by fee based income had grown by just 3.

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0 percent with foreign exchange income falling 7.0 percent.

Sri Lanka's rupee appreciated against the US dollar and a tighter peg also reduced volatility, since a balance of payment crisis ended in April 2009.

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Total capital adequacy ratio at commercial banks fell to 15.2 percent by June 2010, from 15.4 percent in 2009, after climbing from 13.

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8 percent in 2008.

Capital was well above the required levels.

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In 2009 banks stopped lending to risky private borrowers and started financing the government deficit which expanded to 10 percent of gross domestic product.

Gild-edged government securities free risk-weighted capital, allowing capital adequacy to rise even as bad loans increase.

Up to June credit has expanded 122 billion rupe

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