ECONOMYNEXT \u2014 Sri Lanka\u2019s Seylan Bank group recorded a net profit of 3.08 billion rupees for the quarter ended September 30, rising 5.96 percent from 2.90 billion rupees in the same quarter last year, interim accounts showed.<\/p>\n
The banking group posted basic earnings per share of 4.82 rupees for the third quarter (Q3), compared to 4.54 rupees reported a year earlier.<\/p>\n
Gross interest income grew 21.63 percent to 25.13 billion rupees from 20.66 billion rupees, driven by loan expansion. <\/p>\n
Interest expenses escalated 39.71 percent to 15.75 billion rupees from 11.27 billion rupees on higher deposit rates. <\/p>\n
Net interest income remained flat at 9.38 billion rupees, dipping 0.07 percent from 9.39 billion rupees as margins compressed.<\/p>\n
Net fee and commission income rose 13.86 percent to 2.46 billion rupees from 2.16 billion rupees, supported by higher volumes across cards, remittances, trade financing, and loans.<\/p>\n
Net trading losses widened to 2.31 billion rupees from 97.55 million rupees, but net other operating income surged 569.58 percent to 2.27 billion rupees from 339.02 million rupees on foreign exchange gains. <\/p>\n
Total operating income stood at 11.82 billion rupees, up 0.06 percent.<\/p>\n
The group recorded an impairment reversal of 965.30 million rupees, compared to a charge of 226.72 million rupees last year, reflecting improved borrower credit profiles and updated model forecasts. <\/p>\n
This lifted net operating income 10.35 percent to 12.79 billion rupees.<\/p>\n
Total operating expenses expanded 12.21 percent to 6.32 billion rupees from 5.63 billion rupees. <\/p>\n
Personnel costs rose 13.02 percent to 3.34 billion rupees from 2.96 billion rupees due to annual salary revisions, while other overheads grew 11.32 percent to 2.57 billion rupees on higher prices of consumables and services.<\/p>\n
Operating profit before taxes increased 8.60 percent to 6.47 billion rupees. <\/p>\n
Value Added Tax on financial services rose 25.79 percent to 1.66 billion rupees, while Social Security Contribution Levy was zero compared to 182.84 million rupees. <\/p>\n
Profit before income tax rose 7.97 percent to 4.81 billion from 4.46 billion rupees, while income tax rose 11.75 percent to 1.73 billion rupees.<\/p>\n
Total assets reached 1.013 trillion rupees, with loans expanding to 688.92 billion rupees and deposits rising to 811.00 billion rupees. <\/p>\n
Gross domestic credit growth was propelled by a boom in gold-backed lending, with pawning receivables surging 38.29 percent to 68.04 billion rupees from 49.20 billion rupees. <\/p>\n
Group net asset value per share reached 140.09 rupees.<\/p>\n
Seylan Bank\u2019s voting shares where trading at 91.20 rupees. (Colombo\/Nov02\/2026)<\/p>","protected":false},"excerpt":{"rendered":"
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