Seylan Bank March profit up on new loans, fee incomes

As the banking sector earnings got underway, Seylan Bank PLC reported modestly increased profits on the back of the growth in new loans, higher fee incomes and lower impairments. The bank reported a net interest income of Rs.9.83 billion for the March quarter, up 13.24 percent from a year ago. This was possible as the bank gave loans worth Rs.28.13 billion, which lifted the bank’s total loan book to Rs.691.87 billion by end-March 2026.

However, the net interest margin – the difference between what the bank earns from its loans and what it pays for its deposits – narrowed somewhat to 4.23 percent, from 4.45 percent at the start of the year. This was because there was some increase in the deposit rates while the loan rates remained lower. The bank meanwhile raised deposits worth of Rs.9.58 billion in the quarter to Rs.742.54 billion. The bank also raised the fee incomes worth of Rs.2.31 billion, up 24.04 percent from a year ago.