Regulatory Alerts2023-11-23 | Banking Act Determination No. 02 of 2023Annual Licence Fee of Licensed Commercial Banks and Licensed Specialised Banks
The Central Bank of Sri Lanka has mandated annual licence fees for all licensed commercial and specialised banks, effective for the 2024 and 2025 calendar years. These fees, calculated based on each institution's total assets as reported at year-end, range from Rs. 3.5 million to Rs. 40 million and must be paid by January 31 of each respective year. The tiered structure, established under Sections 8 and 76D(6) of the Banking Act No. 30 of 1988, ensures proportional contributions aligned with institutional size and asset base.
CENTRAL BANK OF SRI LANKA
23 November 2023 | BANKING ACT DETERMINATION | No. 02 of 2023
ANNUAL LICENCE FEE OF LICENSED COMMERCIAL BANKS AND LICENSED SPECIALISED BANKS
Determination made by the Central Bank of Sri Lanka under Sections 8 and 76D(6) of the Banking Act No. 30 of 1988, as amended.
In terms of Sections 8(1) and 76D(6) of the Banking Act No. 30 of 1988, as amended, the Central Bank of Sri Lanka has determined that every licensed commercial bank and licensed specialised bank shall pay the licence fee in respect of the calendar years 2024 and 2025 to the Central Bank of Sri Lanka on or before 31st day of January of each year, based on the total assets of such bank as per the regulatory reporting as at end of preceding year, as set out in the Table below.
Annual licence fee for the years 2024 and 2025
| Total Assets as at the end of the preceding year (Rs. Bn) | Licence Fee (Rs. Mn) |
|---|---|
| Above 2,000 | 40.0 |
| Above 1,000 to 2,000 | 37.0 |
| Above 500 to 1,000 | 30.0 |
| Above 200 to 500 | 26.5 |
| Above 125 to 200 | 19.5 |
| Above 75 to 125 | 13.5 |
| 25 to 75 | 7.0 |
| Less than 25 | 3.5 |
(Signature)
Dr. P Nandalal Weerasinghe Chairman of the Governing Board and Governor of the Central Bank of Sri Lanka