Seylan Bank has unveiled a new addition to its financial services suite with the launch of Seylan Factoring, designed to help businesses access funds by leveraging outstanding trade receivables. Unlike traditional loans that consider a broad range of factors, factoring focuses primarily on the quality and collection of receivables to establish the facility. Seylan Factoring
Seylan Bank has launched Seylan Factoring, a new financial service designed to help businesses unlock funds by leveraging outstanding trade receivables. This service offers a fresh alternative to traditional lending by focusing on the quality of receivables and their collection process rather than broader repayment factors. Seylan Factoring enables clients to access up to 80%
Seylan Bank PLC reported a significant profit increase for the quarter ending June, driven primarily by a reduction in loan loss provisions. The bank’s net profit soared by nearly 50%, reaching Rs. 2.21 billion, or Rs. 3.48 per share, up from Rs. 1.48 billion, or Rs. 2.32 per share, in the same period last year.
Seylan Bank announced that its recent Rs. 10 billion debenture issue was oversubscribed on its opening day, receiving applications for over 100 million debentures, indicating strong investor confidence. Initially, the bank issued Rs. 5 billion in Basel III-compliant, Tier 2, listed, rated, unsecured, subordinated, redeemable debentures. Priced at Rs. 100 each, these debentures have maturity
Seylan Bank has announced robust financial results for the first quarter of 2024, ending on March 31st. The bank reported a substantial increase in Profit before Tax (PBT), reaching Rs. 3,704 million, marking a remarkable 115% growth compared to the same period in 2023. Similarly, the Profit After Tax (PAT) saw significant growth, soaring by
In an exciting collaboration, Seylan Bank has been announced as the Official Banking Partner for the highly anticipated Wedding Show 2024. This prestigious event, set to dazzle attendees with over 250 trade stalls showcasing a diverse array of wedding essentials, is slated to take place from February 16 to 18 at the esteemed Sirimavo Bandaranaike