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Seylan Bank reports strong Q1 2025 performance with 20.29% growth in Profit After Tax

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Seylan Bank PLC has announced a robust financial performance for the first quarter of 2025, achieving a Profit After Tax (PAT) of LKR 2.76 billion, marking a 20.29% increase compared to LKR 2.30 billion in the same period last year.

Financial highlights

=Profit Before Tax (PBT) rose by 13.36% to LKR 4.20 billion (Q1 2024: LKR 3.70 billion).

=Net Interest Income (NII) declined by 8.37% to LKR 8.59 billion, primarily due to lower market interest rates and loan/deposit repricing.

=Net Fee Income grew by 13.83% to LKR 2.09 billion, driven by higher earnings from loans, cards, remittances, and trade services.

=Impairment Charges dropped significantly by 83.17% to LKR 262 million, reflecting improved asset quality.

=Operating Expenses increased by 4.62%, attributed to higher personnel and administrative costs.

Balance sheet strength

=Total Assets grew to LKR 785 billion (Q1 2024: LKR 779 billion).

=Loans & Advances stood at LKR 469 billion, while Deposits reached LKR 647 billion, maintaining a CASA ratio of 29%.

=Capital Adequacy Ratios remained strong, with Tier 1 Capital at 13.67% and Total Capital at 17.64%, well above regulatory requirements.

=Liquidity Coverage Ratios (LCR) were robust at 389.25% (All Currency) and 349.51% (Rupee).

Key ratios and market confidence

=Return on Equity (ROE) improved to 15.81% (2024: 15.35%).

=Earnings Per Share (EPS) rose to LKR 4.34 (Q1 2024: LKR 3.61).

=Net Asset Value Per Share increased to LKR 111.94 (Group: LKR 115.14).

=Fitch Ratings upgraded Seylan Bank’s National Long-Term Rating to ‘A+(lka)’ with a Stable Outlook in January 2025.

The Bank expanded its “Seylan Pahasara Libraries” initiative, opening 16 new libraries in Q1 2025, bringing the total to 281, reinforcing its dedication to education.

Seylan Bank’s resilient performance underscores its strong risk management, cost optimization strategies, and diversified revenue streams, positioning it for sustained growth in 2025.



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Business

MullenLowe Group Sri Lanka Appoints Sarah Nasry as Director & Chief Financial Officer

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Sarah Nasry, Director & Chief Financial Officer

MullenLowe Group Sri Lanka (MLG) announced the appointment of Sarah Nasry as Director & Chief Financial Officer, effective immediately.

In her new role, Sarah will lead both the Finance and Human Resources functions at MullenLowe Group Sri Lanka, playing a pivotal role in shaping the company’s financial strategy and people agenda. She holds a distinguished track record across multiple business disciplines, including Supply Chain, ICT, Administration, Corporate Communications, and CSR. Sarah brings a wealth of experience from her most recent position as General Manager – Finance & Business Partnering at Brandix, Sri Lanka’s leading apparel manufacturer.

Recognised for her strengths in business partnering, financial planning, and strategic decision-making, Sarah is also widely respected for nurturing inclusive, people-centric cultures that foster growth and high performance.

Thayalan Bartlett, Executive Chairman of MLG, commented, “Sarah’s appointment follows an extensive search for the right person to lead our finance division through the next phase of our journey. Her wide-ranging experience and strong leadership credentials give me every confidence that she will continue to strengthen the financial integrity and compliance standards we are known for, and the Board looks forward to working closely alongside her in this journey.”

Sarah also marks a significant milestone for the company, becoming the first female member of MLG’s Board of Directors. She will additionally serve on the MLG Executive Committee (ExCo), reinforcing the company’s commitment to diversity and inclusion at the leadership level.

Commenting on her appointment, Sarah said, “I am honoured and excited to join MullenLowe Group Sri Lanka and help steer the company into its next chapter. I look forward to collaborating with the talented team at MLG to drive financial strength, champion a people-first culture, and build on the company’s strong legacy of creativity and performance.”

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Sun Siyam Pasikudah Named Tripadvisor Travelers’ Choice Award Best of the Best Winner for 2025

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Sun Siyam Pasikudah, a boutique luxury resort on Sri Lanka’s eastern coast, is thrilled to announce its recent win at the Tripadvisor’s Travelers’ Choice Awards Best of the Best for 2025, placing it among the top 10 percent of resorts worldwide. This accolade reflects the resort’s commitment to exceptional guest experiences, sustainable practices, and community engagement.

As the world’s largest travel guidance platform, Tripadvisor has unparalleled authority with travelers and diners. This award is based on genuine feedback from anyone in the community who has visited and left an authentic, first-hand review on Tripadvisor over a 12-month period, making it a valuable and trustworthy designation of travelers’ favorites.

Reopened in November 2023 after an extensive transformation, Sun Siyam Pasikudah offers 34 spacious one- and two-bedroom garden and beach pavilions, each featuring bold monochromatic interiors accented with golden tones. The redesign, led by Studio Sixty7, emphasizes a blend of contemporary elegance and local craftsmanship. The resort collaborated with local artisans, showcasing Sri Lanka’s rich talent and cultural heritage.

‘‘We are thrilled to being recognized on par with some of the world’s best resorts. Under just two years since our reopening, this achievement couldn’t be possible with the tremendous effort and support of our world-class team and our guests that keep coming for the unique experiences we offer. We are proud to contribute to Sri Lanka, a destination that is on every traveler’s go-to list,’ said its General Manager, Arshed Refai who has been with Sun Siyam Resorts for over a decade.

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OTTO Bathware earns SLS certification for sanitaryware safety and quality

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The official certification was presented by Dr Siddhika G. Senaratne (Director General of SLSI) to Dilanga Karunaratna (Director of Art Decoration International (Pvt) Ltd)

OTTO Bathware has received Sri Lanka Standards (SLS) certification from the Sri Lanka Standards Institution (SLSI). This certification confirms that OTTO’s sanitaryware meets the highest national standards for safety, durability, and performance. With over 30 years of experience, OTTO Bathware operates under the ADI Group (Art Decoration International Pvt. Ltd.- www.ottobathware.com) and runs a modern 435,000square feet manufacturing facility in Bandaragama. The company has grown to become; South-Asia’s largest decorative ceramic manufacturer/ exporter, Sri Lanka’s second-largest sanitaryware producer, supplying to over 500 retailers island-wide.

“We’re proud to offer sanitaryware that meets national safety and quality standards. We encourage all Sri Lankans to look beyond the price tag and choose products that are certified, tested, and built to last.” said its Chairman, S. H. B. Karunarathne.

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