Seylan Bank PLC recorded a Profit After Tax (PAT) of LKR 1.1 Bn in Q1 2022, maintaining its forward momentum in a period of volatile macroeconomic challenges. The Bank capitalized on its strong fundamentals with capital adequacy ratios well above regulatory requirements; whilst ensuring its liquidity position remained above the required minimum ratios during the […]
Seylan Bank made a
steady start in 2021 by posting a Profit After Tax (PAT) of LKR 1Bn in Q1 2021
amidst macro-economic challenges brought in by the COVID-19 pandemic.
Statement
of Financial Performances
Interest income
recorded a decline due to the lower interest rates and moderate book gro
Income Statement
Interest
Income of the Bank stood at LKR 52.3Bn while interest expenses stood at LKR
32.8Bn reflecting a Net Interest Income (NII) of LKR 19.5Bn with an annual
growth of 4.6% in the year under review. The main contributor for NII was the
loans and advances portfolio that generated interest income of LKR 41.7Bn
during the year whilst the Treasury operations generated LKR 8.5Bn in interest
income. Interest expenses on deposits stood at LKR 27.8Bn recording a decline
from LKR 30.7Bn from the previous year. Deposits that were re-priced during the
year helped the Bank to reduce its funding cost.