STRONG FIRST HALF PERFORMANCE WITH 32 PERCENT GROWTH
Seylan Bank and its group reported strong growth momentum in its performance for the six months ended 30 June. The Seylan group recorded a net profit after tax of Rs. 2,310 million for the period, which represents an increase of 32 percent compared to the corresponding period of the prior year. Seylan Bank says it will reach year-on-year growth in Profit After Tax of over 21 percent if not for the impairment made on legacy NPAs that was made due to the delay experienced in settlement of dues by the Compensation Tribunal and another payment to be received as a secured creditor with the liquidation of the entity concerned.