The bank experienced an approximately 49 per cent increase in worker remittances.Emerging from the economic turmoil, the bank implemented proactive measures to mitigate the credit risk by applying management overlays to identify risk-elevated industries, reassessing exposures to high-risk borrowers and implementing stringent monitoring mechanisms.

The bank provided considerable level of impairment provision in previous years and by the start of 2023, the bank had maintained provision coverage of 60 per cent for stage 3 loans. Owing to these efforts, the bank witnessed a noteworthy net reversal of impairment provisions for loans and advances amounting to Rs. 2.7 billion during the year