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Seylan Bank perseveres through macroeconomic challenges to retain momentum in Q1 2022

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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 quarter, maintaining the Statutory Liquid Asset Ratio (SLAR) for the Domestic Banking Unit and the Foreign Banking Unit at 23.32% and 22.65% respectively. This, along with a strong Net Interest Income (NII) of LKR 6.8 Bn, recording a growth of 22.51% in the period under review, ensured that Seylan Bank perseveres through macroeconomic challenges to retain its forward momentum in the first quarter of 2022.Seylan Bank recorded a total operating income growth of 21.80% amounting LKR 9.1 Bn during the period under review compared to LKR 7.5 Bn in the correspondent year. The Bank’s net gain from trading recorded LKR 3.6 Bn in 1Q 2022 mainly due to an increase in Net Gain on Derivatives Financial Instruments.

Net Fee and Commission Income recorded a notable growth of 24.20% to LKR 1.437 Bn from LKR 1.157 Bn mainly due to increase in Card Related Income, Trade Finance Related Fees, and Other Financial Services Related Income such as commission income and E-banking. The Loans and Advances portfolio of the Bank recorded a growth of 4.56% to LKR 462.1 Bn during 1Q 2022 which also reflects the inflation of the book by currency deprecation. The growth in credit was driven primarily by Term loans, Overdrafts and Packing Credits. Seylan Bank’s overall deposit base recorded a growth of 5.52% to LKR 515.6 Bn in the period under review with the Bank’s CASA ratio (Current and Savings) at 34.24%.Commenting on Seylan Bank’s performance in the first quarter of 2022, Kapila Ariyaratne, Director/Chief Executive Officer, Seylan Bank PLC stated, “Sri Lanka underwent massive upheavals in the quarter under review. As the country seeks to stabilize its position amidst an unprecedented crisis, Seylan Bank has done well to maintain its momentum despite the challenges it faced, achieving LKR 643.1 Bn of Total Assets as of 31 March 2022, resulting in 5.85% growth compared to 31 December 2021. We have managed to keep expense growth at a minimal level by focusing on lean initiatives and automation across the Bank and rationalizing expenditure on key controllable cost lines. Team Seylan is to be lauded on leading by example during times of crisis and adapting a culture of working smarter across all the functions, leading to increased efficiency.”

The Return on Equity (ROE) stood at 8.18% for the period under review, compared to 9.07% recorded in 2021. The Return on Average Assets (ROAA) recorded as 0.94% in 1Q 2022. Earnings per Share (EPS) in 2021 stood at LKR 1.82, a slight increase compared to the LKR 1.74 recorded in the comparative year, while Net Assets Value per Share recorded at LKR 88.31 (Group LKR 91.46).Seylan Bank remained adequately capitalized in Q1 2022, with the key capital adequacy ratios above the regulatory minimum requirements. The Bank’s Common Equity Tier 1 (CET 1) Capital/ Total Tier 1 Capital Ratio was recorded as 9.78% and the Total Capital Ratio as at end March 2022 was 12.78%.The Bank recorded impairment provision of LKR 3.4 Bn for 1Q 2022 compared to LKR 2.2 Bn for the correspondent year as a result of the increase in additional provision accounted for foreign currency denominated instruments due to the current situation. Income tax expenses stood at LKR 413.2 Mn which is a 5.36% increase from the comparative period which stood at LKR 392.2 Mn.



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Pan Asia Bank’s Rs. 5 b debenture issue oversubscribed

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B D A Perera, Chairman and Naleen Edirisinghe Director/CEO of Pan Asia Bank

Pan Asia Banking Corporation PLC’s Senior Listed Rated Unsecured Redeemable Debenture issue of up to Rs. 5 billion was oversubscribed following its opening reflecting strong investor interest.

The debentures, with a par value of Rs. 100 each, will be listed on the Colombo Stock Exchange (CSE). The three-year debentures offer an interest rate of 12.75% interest payable annually, while the five-year debentures offer 13.50% interest payable annually.

The issue has been assigned a BBB+ (Stable) rating by Lanka Rating Agency.

The debenture issue was managed by the Investment Banking Unit of Commercial Bank of Ceylon PLC, with SSP Corporate Services (Private) Limited serving as the Registrar to the Issue.

The Bank said the strong investor response demonstrates continued confidence in Pan Asia Bank and its approach to creating long-term value for its stakeholders.

Pan Asia Bank, which positions itself as ‘The Truly Sri Lankan Bank’, continues to strengthen its role in supporting the financial requirements of individuals and businesses while contributing to the development of Sri Lanka’s economy.

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SLIIT International and Liverpool John Moores University inaugurate dedicated international learning facility

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Andrew Patrick

The Sri Lanka Institute of Information Technology (SLIIT) and Liverpool John Moores University (LJMU), United Kingdom, recently inaugurated SLIIT International in Collaboration with LJMU, a dedicated international learning facility located at No. 17, Dickmans Road, Colombo 04, marking a significant milestone in a partnership spanning more than a decade and reinforcing their commitment to providing Sri Lankan students with access to internationally recognised UK higher education qualifications.

The Grand Opening Ceremony was attended by Andrew Patrick, British High Commissioner to Sri Lanka, who graced the occasion as Chief Guest, alongside senior representatives from SLIIT, Liverpool John Moores University, the British Council, academia, industry and other stakeholders, marking the next chapter of the longstanding SLIIT–LJMU collaboration. The new facility is particularly significant as Sri Lanka’s first academic facility dedicated exclusively to the delivery of LJMU degree programmes, reflecting the strength, maturity and long-term commitment of the partnership.

Over the past decade, the SLIIT–LJMU partnership has established a growing network of more than 1,500 alumni, while providing Sri Lankan students with opportunities to gain internationally recognised UK qualifications locally. The new dedicated facility has been designed to provide a world-class learning environment exclusively for LJMU programmes, supporting future programme expansion, strengthening the student experience and creating opportunities for deeper academic collaboration, innovation, research and student engagement.

Commenting on the milestone, Prof. Lalith Gamage – Vice-Chancellor, Managing Director and Chief Executive Officer, SLIIT, stated, “The launch of SLIIT International in Collaboration with Liverpool John Moores University represents an important new chapter in our longstanding partnership with Liverpool John Moores University. Our vision is to provide Sri Lankan students with a world-class education and student experience right here in Sri Lanka, while equipping them with the global outlook, critical thinking, professional capabilities and career readiness required to succeed in an increasingly interconnected world. This dedicated facility strengthens the student experience while providing a strong foundation for the continued growth of our collaboration with LJMU.”

Prof. Timothy Nichol, Pro-Vice-Chancellor, Faculty of Society and Culture, Liverpool John Moores University, said, “The opening of Sri Lanka’s first facility dedicated exclusively to LJMU degree programmes represents a significant milestone for the University and our partnership with SLIIT. It reflects the strength of our collaboration and our shared commitment to delivering a high-quality LJMU educational experience in Sri Lanka. The new facility also creates exciting opportunities for deeper academic collaboration, innovation, research and student engagement as we look towards the next phase of our partnership.”

A key highlight of the Grand Opening Ceremony was the panel discussion titled “Beyond Borders: The Role of British Higher Education in Developing Globally Competitive Graduates.” The discussion examined the growth of international educational opportunities in Sri Lanka, the future expansion of UK degree programmes, maintaining the quality and integrity of UK qualifications, developing future-ready graduates with global competencies, and the role of international higher education in strengthening graduate employability. The panel brought together Prof. Lalith Gamage; Prof. Timothy Nichol; Mr. Sajeewa Meepage, Representative of the British Council; and Dr. Harsha Cabral, Board Member of SLIIT.

The panelists further emphasized on emerging trends in areas including law, business, psychology and artificial intelligence, as well as the contribution of UK higher education to Sri Lanka through internationally recognised qualifications that uphold global academic standards.

The discussion explored the history and future of the SLIIT–LJMU partnership, the strategic significance of the new SLIIT International facility, academic quality, graduate employability and the long-term growth of LJMU programmes in Sri Lanka.

The ceremony also featured a special address by Andrew Patrick, British High Commissioner to Sri Lanka, followed by an address by Mrs. Clare Sears, Country Director, British Council Sri Lanka. The evening also included the ceremonial exchange of the partnership document between SLIIT International and Liverpool John Moores University, symbolising the continued commitment of both institutions to strengthening their collaboration and expanding international educational opportunities for Sri Lankan students.

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Dijital Team and WinSYS City University launch two-year partnership

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Ziyam Abdeen, Chairman of WinSYS, and Peter Ward, Managing Director of Dijital Team, at the signing ceremony for the two-year partnership

Dijital Team has signed a two-year partnership with Winsys City University, strengthening the skills and capabilities of its team members to support Managed Service Providers and IT service providers while elevating tech talent to immediate industry-readiness. With a Memorandum of Understanding (MOU) signed recently, the partnership was formally launched on 9 September 2026 at Dijital Team’s office premises, Colombo.

Combining Dijital Teams’ international employer network and understanding of the capability requirements of MSPs and IT service providers across Australia, New Zealand and the United Kingdom with Winsys City University’s training heritage of 21 years, the joint programmes create legitimate classroom-to-international-career pathways, offering structured learning and certification avenues that support deeper capability across cloud, cybersecurity, automation, AI and emerging technologies.

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