Business
Seylan Bank conducts knowledge sharing event for women employees
Seylan Bank, the Bank with a Heart, recently conducted a knowledge sharing programme for all its women employees. Dr. Linda Speldewinde, Founder and Chairperson – Design Corp Group of Companies and Dr. Lanka Jayasuriya-Dissanayake, Chairperson and Trustee – Indira Cancer Trust were the guest speakers at the event.
Speaking to the participants, Dr. Linda Speldewinde drew attention to the fact that gender equality and empowerment of women and girls have long been part of the development process of this country. She explained how the Design Group of Companies provides a platform to empower women in Sri Lanka to initiate innovative plans that will support them to sustain themselves in the current context and be economically successful. A visionary leader with global experience, Dr. Speldewinde looks to exchange new knowledge, with Academy of Design as a globally accessible learning center for design and innovation from South Asia.
Speaking on a different yet equally important topic, Dr. Lanka Jayasuriya-Dissanayake educated the attendees about prevention of cancer. “There are ample advocacy campaigns available for prevention of cancer, targeting healthy lifestyles, with clear messages about healthy diets, physical activities and mental exercises among others. Early detection of cancer is very much important for females, especially for the common cancers such as breast cancer,” she explained. Dr. Jayasuriya-Dissanayake currently serves as the Chairperson and Trustee of the Indira Cancer Trust, a non-governmental organization that supports patients with cancer and their families through over 20 projects.
The talks received positive feedback from the participants with the opportunity to raise concerns and discuss ways to overcome challenges in self-development and healthy living. Women empowerment is not a novel concept to Seylan Bank, which has been at the forefront in growing female leaders within its ranks since inception. The women employees of the Bank number at 45% currently, women also make up 27% percent of the Board of Directors and almost half of the board committees. In addition, 20 % out of the total staff cadre is managed and led by women. Seylan Bank was recognized as one of the Best Women Friendly Workplaces in Sri Lanka in 2021 by Great Place to Work, a testament to the culture of equality that is perpetuated in the Bank.
Appreciating the contribution of the women at the Bank during the event, Amanthi Motha, Chief HR Manager, Seylan Bank said, “Today we have empowered our Seylan female employees by putting them at the center of our decision making, planning and action, in order to entrust them with more responsibilities for the betterment of the future of the bank. Many of the ladies who have joined at entry level jobs, have successfully managed to climb up the ranks to management level positions. Even before ‘Equality’ and ‘Inclusivity’ became buzz words in the corporate sector, Seylan Bank had embodied this spirit since inception, and will continue to do so”.
National Development Bank PLC (hereinafter ‘the Bank’) announced its results for the financial year ended December 31, 2025 to the Colombo Stock Exchange recently. Full year results tabled by the Bank showcase a strong growth across all business lines with Net Banking Revenue increasing by a 45.2% on a comparable basis.
Like most other peers, the Bank’s 2024 financial performance was positively impacted following the successful conclusion of the ISB debt restructure with a one-off impact on interest income, fee income and net impairments amounting to LKR 1.4 billion, LKR 0.7 billion and LKR 9.4 billion, respectively for the said year.
Fund based income
Net interest income (NII), which accounts for close to 75.0% of Bank’s total operating income, grew by 6.5% on a normalised basis. Despite pressure on interest-earning assets arising from the lower interest rate environment, the Bank’s disciplined margin management helped stabilise Net Interest Margin (NIM) at 4.0% for the year. On a comparable basis, excluding one-off exceptional items, NIM stood at 4.2%, compared to 4.3% for both scenarios in 2024. By the end of the year, the Bank had close to LKR 29.3 billion in Loans and Deposits under a special arrangement with its customer(s) with a netting-off feature (end 2024: LKR 19.6 billion).
Non-fund based income
Net fee and commission income reached LKR 8.1 billion for the year – representing a growth of 14.3% from LKR 7.1 billion in 2024 excluding ISB restructuring related fees. Key growth drivers for the current year were trade finance, credit and lending, digital banking and credit and debit cards.
Credit and operating costs
Credit costs for the year amounted to LKR 5.7 billion, reflecting a substantial reduction of 57.1% compared to LKR 13.2 billion in 2024, a testament to the Bank’s strong credit underwriting practices and focused efforts on collections and recoveries. The Bank’s success on account of the latter is best reflected in notably improved stage 2 and 3 loan stock which stood at 7.9% and 10.8% respectively at end 2025 as compared with 16.6% and 14.0% at end 2024. Stage 3 provision coverage also saw further improvement to 59.1% from 54.5% during 2024 showcasing the Bank’s prudent management of credit risk.
Operating expenses closed at LKR 19.0 billion for the year, marking a 13.1% YoY increase. This increase was primarily driven by routine staff-related increments and necessary market realignments, along with higher investments in IT infrastructure and business development undertaken during the year.(NDB)
PMF Finance PLC has announced the appointment of Ms. Nishani Perera as a Non-Executive Independent Director, further strengthening the Company’s strategic oversight, governance framework, and board-level expertise as it continues to advance its transformation and long-term growth agenda.
Ms. Perera is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka and brings over 19 years of experience across audit, assurance, advisory, risk management, and corporate governance. She currently serves as Partner – Audit & Assurance at Moore Aiyar and as Director of Moore Consulting (Pvt) Ltd.
Over the course of her career, Ms. Perera has gained substantial exposure to listed companies, banks, finance companies, and other regulated entities. Her areas of expertise include financial reporting under SLFRS/LKAS, audit and risk oversight, regulatory compliance, and the implementation of quality management standards. She has worked closely with Boards of Directors and Audit Committees on matters relating to financial reporting integrity, internal control frameworks, enterprise risk governance, and adherence to evolving regulatory requirements.
Ms. Perera holds a Master of Laws (LL.M.) from Cardiff Metropolitan University in the United Kingdom and a Bachelor of Science in Business Administration (Special) from the University of Sri Jayewardenepura. She is also an Associate Member of ACCA and CMA Sri Lanka, and a Fellow Member of AAT Sri Lanka.
Business
Capital Alliance deepens capital market presence with third Closed-End Fund Listing at the CSE
The units of the “CAL Three Year Closed End Fund” were officially listed on the Colombo Stock Exchange (CSE) recently. Accordingly, a total of 841,263,375 units of the ‘CAL Three Year Closed End Fund’ were listed by Capital Alliance Investments Ltd (CALI), a member of the Capital Alliance Ltd Group (CAL Group). The listing was commemorated by way of a special bell ringing ceremony on the CSE trading floor.
CSE CEO Rajeeva Bandaranaike speaking at the occasion remarked upon the rising demand for Unit Trusts: “When you look at funds, particularly unit trusts in today’s active capital market, we see a lot of domestic interest in the market with more investors entering. Funds, not only fixed income funds but also growth and balanced funds, can be the ideal vehicle through which new investors can enter the market. We see this interest reflected in the success of CAL’s Three Year Closed End Fund. More people are seeking to invest their money through professional fund managers.”
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