Seylan Bank, which came out with a unique annual report in the form of case study on how the bank was saved from collapse after parts of the Ceylinco Group crashed, held its annual general meeting on Friday, being the first among banks to hold an AGM at the end of the tax year.
The bank recently posted a Rs. 543.301 million post-tax profit for 2009, up sharply by 250% over the previous financial year. During the same period, the bank’s cost-to-income ratio showed a marked improvement decreasing from 75.79% to 67.82%, while the total capital adequacy ratio – under severe pressure during the end 2008 crisis – rose from 8.06% to 11.74%, according to a bank statement. |
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