ECONOMYNEXT – Profits at Sri Lanka’s Seylan Bank grew 25 percent from a year ago to 2.76 billion rupees in the June 2025 quarter, amid lower provisions and a pick up in fee income interim accounts showed.
Seylan Bank group reported earnings of 4.35 rupees per share for the quarter. In the six months to June Seylan reported earnings of 8.56 rupees on total profits of 5.44 billion rupees, which grew 19.9 percent.
Fee income grew 16.9 percent to 2.2 billion rupees.
Seylan’s interest income fell 6 percent to 19.94 billion rupees, interest expenses also fell 10.6 percent to 10.679 billion rupees and net interest income fell 0.48 percent to 9.26 billion rupees.
Provisions were down to 229 million rupees from 1.4 billion rupees last year.
State 3 loans were 1.76 percent, down from 2.10 percent.
Loans and advances rose 6.7 percent in the six months to June 2025.
Investments in debt instruments fell 5.48 percent to 128.7 billion rupees.
Placements with banks and finance companies fell to 28.4 billion rupees from 50.1 billion rupees.
Deposits grew 3.6 percent to 670 billion rupees.
Wages were up 12 percent to 3.0 billion rupees and other expenses were up 11 percent to 2.56 billion rupees.
Value added tax on financial services, where wages is a base were up 15 percent to 1.3 billion rupees up 15.8 percent.
Income tax provision was 1.53 billion rupees up 10.8 percent.
Gross assets at bank level rose 4.19 percent to 812 billion rupees.
Net assets were up 7.07 percent to 75.4 billion rupees.
At bank level Tier I capital adequacy was 13.14 percent down from 14.25 percent (required 7.0 percent. Total capital adequacy was 16.85 percent down from 18.59 percent (required 12.5 percent). (Colombo/July30/2025)
