Sri Lanka’s Seylan Bank net up 55.9-pct in June quarter

Aug 03, 2015 (LBO) – Sri Lanka Seylan Bank recorded a net profit of 1,089 million rupees in the June 2015 quarter up 55.9 percent from the same period in 2014, a filing with the stock exchange showed.

The group reported earnings of 3.16 rupees per share up 53.7 percent from the same quarter last year.

The group said interest income rose only one percent to 6,007 million rupees and interest expenses declined 4.65 percent to 2,970 million rupees, and the bank grew net interest income 7.21 percent to 3,037 million rupees.

Fees and commission income rose 17.52 percent to 659 million rupees and other operating income was up 309 percent to 189 million rupees.

Loan loss provisions fell 63.06 percent to 175 million rupees in June quarter.

Loans to customers rose 4.9 percent to 162 billion rupees in the six months to June 2015.

Seylan Bank total group assets grew 5.4 percent to 265 billion rupees, and net assets grew 2.1 percent to 26.8 billion rupees.