ReleaseWire Connect

In the backdrop of challenging external environment, Seylan group reported a resilient performance by recording a Profit after tax of Rs.5, 004 Million for the year ended 31st December 2017, which is the highest profit reported in its history. Seylan Bank also continued its growth momentum by achieving a profit after tax of Rs. 4,430 Million during the period under review.

Seylan Bank made a steady start in 2017 by posting impressive results for Q1 with a Profit after Tax of Rs. 866 Million in the backdrop of uncertain market conditions.

Lauded as Sri Lanka's most digitally engaging bank, Seylan Bank expanded its digital customer support services by introducing the Seylan Messenger Bot – a chat bot that responds to customer queries via Facebook Messenger. The latest addition to the bank's customer service channels helps provide real-time responses to basic banking and finance queries. The number of fans on its facebook page increased to more than 500,000 fans during the year 2016 and launched a novel youth product Seylan Seylfie which offers Digital interest and banking on Facebook recently.

Yet again revolutionizing the banking industry in Sri Lanka, Seylan Bank has launched a state-of-the-art digital bank account for the youth of Sri Lanka named - Seylan Seylfie. A brand new youth account experience for those between 18-26 years, Seylan Seylfie offers unique benefits for its tech-savvy target group. Seylan Bank has partnered with the country's leading telecom provider Dialog Axiata PLC to offer various digital benefits for this data-loving customer segment.

Seylan Bank continued its growth momentum by recording a Profit after Income of Rs. 2,828 Million, for the 9 months ended 30th September 2016. This is a 3.6% increase over the Rs. 2,730 Million reported for the corresponding period of 2015 and has been achieved despite rising interest rates.

Seylan Bank has launched a revolutionary new product for youth titled the 'Seylan Seylfie Youth Account' offering a host of benefits to youth all over Sri Lanka. In addition to attractive savings and financial services terms, Seylan Bank has joined hands with Dialog to provide mutual benefits to customers. Seylan Seylfie account holders can now route part of their monthly interest from their account to their Dialog mobile as reloads. Seylan Bank's 'Seylfie Youth' account holders can also avail of special offers and discounts when purchasing Dialog connections and devices. The bank expects to expand the Digital interest to its other customer bases in the future.

Seylan Bank has successfully raised funds in the Middle East by the strength of its banking operations and impressive track record to establish a 15 Million, 5 year US dollar facility from the National Bank of Ras Al Khaimah (RAKBANK) of the United Arab Emirates (UAE). Alpen Capital (ME) Limited, an investment banking advisory firm, also based in the UAE acted as the sole financial advisor to the transaction.

Dedicated to offering a comprehensive suite of financial services to its customers, Seylan Bank has newly added Factoring to its portfolio of products and services offering a wider choice of working capital financing options in addition to the traditional overdrafts and loans. This service is available for any type of business ranging from SMEs, corporate as well as start-ups, and could be obtained speedily with the least amount of hassle, the major benefits been the ability to generate Cash flow without debt, by trading the trade debtors with the bank at a discount, and also managing collection costs by allowing the bank to use its expertise in assisting collections on behalf of the customer at a nominal fee.

Seylan Bank reported a 24.25% increase in Profit before tax to reach Rs. 5,777 Million for the year ended 31st December 2015. The Bank reported a record Profit after Tax figure of Rs 3,831 Million for the year ended 31st December 2015. This is an impressive 24.44% growth in PAT compared to the Rs 3,079 Million reported in 2014.

Seylan Credit cards kick started the New Year by offering extraordinary rewards to its cardholders selected through a consumer promotion and their frequent usage of Seylan Credit Card. 'The bank with a heart', took the initiative in offering its cardholders a seamless shopping tour to Colombo's leading outlets while providing 50% cash back on their total spend on the tour.