Seylan records Rs. 3 bn PAT
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Sri Lanka, Feb. 24 -- In the backdrop of an extremely challenging environment, Seylan Bank recorded a Profit After Tax (PAT) of Rs 3 billion (bn) for the year ended December 31, 2020.
Interest Income of the Bank stood at Rs 52.3 bn while interest expenses stood at Rs 32.8bn reflecting a Net Interest Income (NII) of Rs 19.5bn with an annual growth of 4.6% in the year under review.
The main contributor for NII was the loans and advances portfolio that generated interest income of R 41.7bn during the year whilst the Treasury operations generated Rs 8.5bn in interest income. Interest expenses on deposits stood at R 27.8bn recording a decline from Rs 30.7bn from the previous year. Deposits that were re-priced during the year helped the Bank ...
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