Governor of the Central Bank (CBSL) Ajith Nivard Cabraal says Seylan Bank has recorded a 543.3 million rupees Profit after Tax for 2009 representing a massive increase of 250 percent over the previous financial year.The Governor said during the same period, the Bank’s cost-to-income ratio showed a marked improvement decreasing from 75.79% to 67.82%. The total capital adequacy ratio – under severe pressure during the end 2008 crisis – rose from 8.06% to 11.74%. Seylan Bank now meets or exceeds the liquidity targets stipulated by the Central Bank.
These positive indicators have brought a corresponding rise in confidence both in the shareholder and depositors. For more than 20 years the Seylan Bank has proudly called itself “The Bank with a Heart” and has worked hard to live up to this credo.
Chairman of the Seylan Bank Eastman Narangoda said, “As we tackled the unprecedented challenges during the past year, the dedicated stakeholders of the bank never lost heart.
The Chairman said buoyed by the continued support of our customers, we redefined our vision and improved management practices from the top down.
Courtesy: Government Information Department
Fri, Mar 12, 2010
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