CRIB hosts Annual General Meeting for 2024

Board of directors from left: CRIB Chairman/Central Bank Deputy Governor J.P.R. Karunaratne, CRIB Director/General Manager Pushpike Jayasundera, CRIB Senior Manager Operations Indika Dissanayake, CRIB Director/Siyapatha Finance Managing Director H.M.A. Seneviratne, CRIB Director/LOLC Finance Chief Recovery Officer W.M.N.S.K. Weerapana, CRIB Director/Seylan Bank Chief Executive Officer Director R.J. Jayasekara, CRIB Director/People’s Bank General Manager K.K.J.C. Fonseka and CRIB Director/Union Bank of Colombo Chief Executive Officer Director D.P.N. Rodrigo 

The Credit Information Bureau of Sri Lanka (CRIB) convened its Annual General Meeting (AGM) for the year 2024 recently via an online platform. 

The event showcased the CRIB’s performance for the year under review and underscored its commendable achievements and steadfast commitment to advancing credit inclusivity within Sri Lanka’s financial ecosystem, leveraging cutting-edge technological platforms.

Held under the theme ‘Data in Action, Change in Motion’, the AGM was presided over by CRIB Chairman and Central Bank Deputy Governor J.P.R. Karunaratne, who delivered the keynote address. This was followed by a comprehensive presentation on the CRIB’s operational and strategic performance by Director/General Manager Pushpike Jayasundera. The meeting was attended by representatives of all 64 shareholder financial institutions of the CRIB.

The steady recovery of the Sri Lankan economy during the year in review was reflected in the CRIB’s performance in its capacity as the National Credit Information Bureau; backed by a digital revamp and powered by a state-of-the-art Credit Information Management System, the CRIB delivered 8.9 million credit reports in 2024, a significant 41 percent increase from the 6.3 million reports delivered in 2023. 

The CRIB also disclosed that 81 percent of Sri Lanka’s adult population had entered the CRIB database at the close of the period in review, which translated to 7.01 million persons with active credit records in Sri Lanka. The total number of active credit records at the close of 2024 was 14.8 million. 

Jayasundera underscored the CRIB’s transformational journey from a conventional credit reporting body to a data-driven powerhouse at the heart of Sri Lanka’s financial sector. He highlighted that CRIB’s credit database had expanded to over 17 million records, with integration of new data sources such as gold loans, margin trading, factoring and even non-traditional data from utilities and telecom providers. 

The board of directors and shareholders of the CRIB, comprising the Monetary Board of the Central Bank, licensed specialised banks, licensed commercial banks, licensed finance companies, licensed leasing establishments and other lending institutions, attended the AGM. Among those present were Karunaratne, Jayasundera, CRIB Senior Manager Operations Indika Dissanayake, CRIB Director and Siyapatha Finance Managing Director H.M.A. Seneviratne, CRIB Director and LOLC Finance Chief Recovery Officer W.M.N.S.K. Weerapana, CRIB Director and Seylan Bank Chief Executive Officer R.J. Jayasekara, CRIB Director and People’s Bank General Manager K.K.J.C. Fonseka, CRIB Director and Union Bank of Colombo Chief Executive Officer D.P.N. Rodrigo, CRIB Director and Central Bank Bank Supervision Department Director R.R.S. De Silva Jayatillake and CRIB Director and Bank of Ceylon General Manager/Chief Executive Officer 

W.P.R.P.H. Fonseka.