Seylan Bank’s Profit after Tax at Rs.2.76 bn in Q1 2025
View(s):Seylan Bank has recorded a Profit before Income Tax (PBT) of Rs.4,199 million in Q1 2025, against Rs.3,704 million in Q1 2024 demonstrating a growth of 13.36 per cent.
For the three months ended March 3, 2025, Profit after Tax (PAT) was recorded by Seylan Bank at Rs.2,761 million with a growth of 20.29 per cent against Rs.2,295 million recorded in the corresponding period of 2024, the bank said in a statement. The bank’s total operating income was recorded as Rs.11,258 million, a decrease of 3.83 per cent compared to Rs.11,707 million recorded in the corresponding period of 2024, driven mainly by reduction in Net Interest Income.
Other income captions comprising of net gains from trading activities, net gains from de-recognition of financial Assets, and net other operating income, reflected an increase compared to the corresponding period of 2024.
The bank recorded an impairment charge of Rs.262 million in Q1 2025 against Rs.1,555 million reported in Q1 2024 with a reduction of 83.17 per cent. The bank has ensured impairment provisions are made to capture the changes in the global and local economy, credit risk profile of customers and the credit quality of the bank’s loan portfolio in order to ensure adequacy of provisions recognized in the financial statements.
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