"Seylan Bank Achieves Remarkable Financial Milestone: PAT Surges 79% to LKR 4.49 Billion in the First Nine Months of 2023"

In a testament to resilience and strategic financial management, Seylan Bank has reported an outstanding Profit After Tax (PAT) of LKR 4.49 billion for the nine months ending September 30, 2023. This impressive figure represents a substantial 79.47% surge in growth compared to the corresponding period in the previous year, where PAT stood at LKR 2.5 billion. Despite challenging market and economic conditions, the bank has demonstrated robust financial performance.

The bank's Profit Before Tax (PBT) experienced an extraordinary 100% surge, reaching LKR 7.181 billion, compared to LKR 3.577 billion in the same period last year. This remarkable growth was driven by increased revenue and lower impairment charges, underlining the bank's ability to navigate and thrive in dynamic financial landscapes.

Key contributors to Seylan Bank's financial success include notable growth in Net Interest Income and Net Fee and Commission Income. Total operating income for the first nine months of 2023 witnessed a commendable 6.19% increase, reaching LKR 37.373 billion, up from LKR 35.194 billion in 2022. Net interest income expanded by 9.28% to LKR 30.554 billion, while fee-based income rose by an impressive 19.29% to LKR 5.392 billion.

The bank's Net Interest Margin remained robust at 5.98%, showcasing a commitment to effective financial management. Despite a 25.71% increase in total expenses, reaching LKR 13.846 billion, Seylan Bank's prudent approach is evident in the 28.61% reduction in impairment charges, reflecting a proactive response to changes in the macroeconomy and credit risk profiles.

Seylan Bank's balance sheet remains healthy, with total assets growing to LKR 693 billion as of September 30, 2023. Loans and Advances stand at LKR 412 billion, and Deposits have seen a commendable 3.17% growth, reaching LKR 565 billion, highlighting progress in both Rupee and Foreign Currency Deposits.

Key financial ratios and indicators reinforce the bank's strong position, with a Total Capital Adequacy Ratio of 15.29%, well above regulatory minimum requirements. Despite economic challenges, Seylan Bank's commitment to delivering excellent growth in core revenue streams, alongside robust profits, revenues, and deposits, underscores its resilience and strategic financial prowess.

"Exceptional Financial Performance: Seylan Bank Records a 10.54% Return on Equity (ROE) and LKR 7.30 Earnings per Share (EPS) for the Nine Months Ending September 2023"

In a testament to its financial prowess, Seylan Bank has reported an impressive Return on Equity (ROE) of 10.54% for the nine months concluding in September 2023. This robust performance underscores the bank's effective utilization of shareholder equity to generate substantial returns.

Furthermore, the bank's Earnings per Share (EPS) soared to LKR 7.30 for the same period, showcasing a substantial increase from LKR 4.07 recorded in the corresponding period of 2022. This remarkable growth in EPS reflects the bank's ability to generate higher earnings for each outstanding share, highlighting its financial strength and efficiency in creating value for shareholders.

Seylan Bank's consistent track record of delivering strong financial metrics reaffirms its commitment to sound financial management and positions it as a notable player in the financial landscape. The noteworthy ROE and EPS figures further contribute to the narrative of Seylan Bank's resilience and success in navigating dynamic market conditions.

"In conclusion, Seylan Bank's financial performance for the nine months ending September 2023 stands as a testament to its robust operational strategies and effective financial management. With an impressive Return on Equity (ROE) of 10.54%, the bank demonstrates its adept use of shareholder equity to generate substantial returns, affirming its position as a sound investment. The noteworthy surge in Earnings per Share (EPS) to LKR 7.30, compared to LKR 4.07 in the corresponding period of 2022, further underscores Seylan Bank's ability to create enhanced value for its shareholders.

These financial indicators not only highlight the bank's resilience in overcoming economic challenges but also position Seylan Bank as a notable player in the financial landscape. The consistent commitment to delivering strong financial metrics reaffirms the bank's reputation for sound financial practices. As Seylan Bank continues to navigate dynamic market conditions, these robust ROE and EPS figures contribute to a compelling narrative of sustained success and prudent financial stewardship."