The total outstanding balance owed to banks by credit card users in the country has risen significantly to Rs. 194 billion by the end of March 2026, according to the latest reports released by the Central Bank of Sri Lanka.
Economic analysts point out that the sharp increase is mainly due to the growing dependence on credit cards for purchasing even essential goods amid the prevailing cost of living pressures.
According to Central Bank data, the outstanding balance stood at Rs. 190 billion as of February 2026. Accordingly, credit card debt has increased by Rs. 3.4 billion within just one month.
Furthermore, the total debt value has recorded a significant increase of Rs. 4.4 billion compared to the figures reported at the end of December 2025. Analysts say this trend clearly reflects the rapid growth of credit card transactions and the rising consumer debt burden faced by commercial banks in the country.
