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Seylan Bank reports impressive 1H 2023 profitability and strong growth

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Seylan Bank, has demonstrated exceptional resilience and growth in challenging market conditions, recording an impressive Profit before Tax (PBT) of LKR 4.2 billion, a 104.65% increase for 1H 2023 compared to the same period in 2022. In addition, the Bank achieved a commendable Profit After Tax (PAT) of LKR 2.6 billion, a 71.29% growth over the corresponding period in the previous year.

The Bank’s strong financial performance is highlighted by key indicators that underscore its pledge to excellence and sustainable growth. The Bank maintained a healthy liquidity position with adequate buffers in terms of liquidity and capital for future growth.

The Overall Statutory Liquid Assets Ratio was 32.30% as of 1H 2023, ensuring the ability to meet and exceed regulatory requirements and support operations effectively. Additionally, reflecting its commitment to maintain a robust financial foundation, Seylan Bank continues to be well capitalized, boasting a Total Capital Adequacy Ratio of 15.51% as of 1H 2023. Demonstrating a further prudent approach is the well-maintained Common Equity Tier 1 Capital Ratio at 11.85%.

Notably, Seylan Bank’s Net Interest (NII) Income increased by 21.47%, reaching LKR 20.5 billion, while Net Interest Margin remained steady at 6%. The Bank’s net fee-based income also experienced robust growth of 26.72%, amounting to LKR 3.5 billion, driven by increased earnings from Debit and Credit Card Related Income, Commission on Guarantees, and remittances.

Seylan Bank’s total operating income recorded a notable growth of 13.31%, totalling LKR 24.6 billion for the first half of 2023. This impressive trajectory can be attributed to the Bank’s strategic focus on enhancing Net Interest Income, Net Fee and Commission Income, and other contributing factors.

While the Bank witnessed a reduction in certain income categories due to fluctuations in foreign exchange rates, Seylan Bank remained steadfast to optimizing its cost structure. The total Expenses have increased by 25.88%, reflecting measures taken to enhance employee benefits and adjust to changes in the economic landscape. Despite these challenges, the Bank remains steadfast in implementing cost-efficient strategies to maintain operational excellence.

A key highlight of Seylan Bank’s performance is the prudent management of impairment charges, which decreased by 15.88% from the previous year. The Bank’s commitment to maintaining adequate provisions to reflect changes in the global and local economy, customer credit risk profiles, and loan portfolio quality and expanded recoveries structure are part of its meticulous approach.



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SLEIS 2026 to examine Sri Lanka’s energy transition and its implications

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Reliable and affordable energy is essential to Sri Lanka’s economic growth, industrial development and competitiveness. As the country seeks to strengthen energy security while reducing its dependence on fossil fuels, the energy sector will be a key area of discussion at the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12-13 October 2026.

The session, “Beyond Fossil Dependence: Balancing Security, Sustainability, and Growth,” will examine how Sri Lanka can diversify its energy sources, accelerate renewable energy adoption and attract investment while ensuring a reliable energy supply for businesses and households. Discussions will also consider the infrastructure and policy frameworks needed to support the country’s transition towards a modern and competitive energy system.

Ms. Edore Onomakpome – Regional Infrastructure Industry Manager – Bangladesh, Sri Lanka and Nepal, at the International Finance Corporation will keynote the session, and join the panel discussion featuring G.M.R.D. Aponsu – Secretary to the Ministry of Energy, Damitha Kumarasinghe – Director General (Chief Executive Officer), Public Utilities Commission of Sri Lanka, and Manjula Perera – Managing Director, WindForce PLC. The discussion will be moderated by Sheran Fernando – Senior Advisor, Plus94.

The session will also explore the role of public-private collaboration in developing new energy solutions, encouraging investment and creating opportunities within Sri Lanka’s evolving energy sector. It will consider how energy policy and investment decisions can support both economic expansion and the country’s longer-term sustainability objectives.

The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.

Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).

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A fresh chapter for the George Keyt Foundation: A renewed commitment to the Sri Lankan art ecosystem

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The George Keyt Foundation (GKF), dedicated to preserving the legacy of modernist painter George Keyt and fostering local art, has announced strategic appointments to its leadership team, bringing together a mix of global academic expertise, corporate leadership, and artistic passion. These enhancements aim to inject fresh expertise and academic depth into the Foundation’s long-term vision.

Establishment of the New Advisory Committee

To broaden its operational reach and deepen its engagement with the global art market, the George Keyt Foundation has established an Advisory Committee. The newly appointed committee members include:

• Dr Sujatha Meegama is a Senior Lecturer in Buddhist Art History at the Courtauld. She is an acclaimed art historian, author and academic, bringing specialised knowledge in South Asian art history to guide the foundation’s curatorial and educational directives.

• Dr Shamil Wanigaratne: A clinical psychologist, author, and avid art historian, Shamil will lend his unique perspective to help the foundation design meaningful public outreach and cultural preservation strategies.

• Abbas Esufally: A veteran corporate leader and patron of the arts, Abbas is transitioning from his role as a GKF Trustee to this advisory position, where he will continue to offer his sharp business acumen and extensive network.

New Trustee Appointment

Leesha Captain has been appointed to the Board of Trustees. Inspired by Sri Lankan artists, Leesha is a recognised supporter of the local art scene. Leesha’s hands-on perspective will strengthen the foundation’s core team as they develop and design new art programs.

A Vision for the Future

“These new appointments mark an exciting chapter for us as we build on our decades-long history of promoting Sri Lankan artists,” says Malaka Talwatte, Chairman of the Foundation. “The combination of Leesha on the board, alongside the diverse expertise of our new Advisory Committee, will significantly amplify our efforts in curating high-profile exhibitions and expanding local and international partnerships”.

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Sun Siyam Pasikudah celebrates World Tourism Day with culture, cuisine and community

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Sun Siyam Pasikudah, part of the Privé Collection under Maldivian-owned Sun Siyam Resorts, will mark World Tourism Day on 27 September 2026 with a full day programme celebrating the culture, cuisine and natural beauty of Sri Lanka’s east coast, paired with community focused sustainability activities.

The celebrations open with a special buffet of authentic Sri Lankan cuisine, followed by a street food festival showcasing regional snacks and traditional sweets rarely found on resort menus. A signature World Tourism Day mocktail and cocktail, created for the occasion, will be served through the day, while traditional Sri Lankan cultural dance performances bring the island’s heritage to life for guests.

Beyond the festivities, the resort has planned a tree planting activity with guests and a beach or park clean up campaign, both reflecting Sun Siyam Pasikudah’s ongoing commitment to responsible tourism along Sri Lanka’s northeast coast.

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