Seylan Bank plans to raise about a billion rupees in this year through a combination of equity and debt to boost its capital adequacy.
The bank said Monday it is issuing quoted non-voting shares at a premium, but stopped short from disclosing the price or quantum.rn
rnThe new shares on offer will be subject to regulatory and shareholder approval, the statement said.rn
rnSeylan posted a Rs. 667 mn profit in 2002, largely due to prudent risk management and its large bond portfolio. rn