17. Seylan Bank
Seylan Bank is at number 17 in the Business Today TOP 30.The bank has progressed and strengthened its position thereby making its claim as a strong and stable bank in Sri Lanka. Profits grew by 24.4 per cent to 3,831 million rupees, which is the highest profit that the Bank has recorded thus far.
Net advance portfolio recorded 193.1 billion rupees reflecting an increase of 24.6 per cent. As credit growth increased during the second half of the year, there was an increase in the deposit base to 224.5 billion rupees, a 20.8 per cent climb. PAT increased to 3.83 billion (by 24.4 per cent) while NPAs reduced significantly.
The Bank continued to focus on the four key areas of profitability; advances and deposits; NPAs and customer service. The branch network grew to 159, with further expansion planned for the future.
Seylan Bank has taken the measure to actively diversify its market thereby ensuring a stable growth for the Bank as well as making it one of the respected banking institutions in the country.