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Seylan Bank to disburse paddy loans offered by the Department of ...
Seylan Bank has been selected as one of the financial institutions entrusted with disbursing the Department of Development Finance's innovative loan scheme for paddy purchasing. This groundbreaking initiative aims to provide accessible financial assistance to paddy millers, paddy collectors, and paddy storage owners, contributing significantly to the empowerment and upliftment of the SME sector.Effective from 1st February 2024 to 30th April 2024, the paddy loan scheme sets out to address the financial needs of paddy millers, collectors, and storage owners, enhancing their capacity to contribute to the economy. Seylan Bank was selected as a partner bank for this initiative, in recognition of the Bank's commitment to fostering economic growth and supporting small and medium enterprises (SMEs).Key features of the paddy loan scheme include a competitive interest rate of 11% and a repayment period of up to 6 months. These favourable terms are designed to make the scheme particularly attractive for paddy collectors, who can pledge their paddy to the Bank as collateral. This will empower paddy collectors to access much-needed financial resources and contribute to the overall growth of the paddy industry.Under the scheme, paddy millers meeting specific criteria, including a valid business registration and a maximum daily milling capacity of 25 MT, can apply for loans of up to Rs. 50 million. Meanwhile, paddy collectors and paddy storage owners with a valid business registration are eligible for loans of up to Rs. 25 million. The Department of Development Finance envisions that these funds will stimulate economic activities within the paddy sector and, in turn, positively impact the broader economy.Seylan Bank's role as a financial intermediary in this transformative initiative underscores its commitment to being an enabler for SMEs. By facilitating access to affordable financing, Seylan Bank is contributing to the economic empowerment of paddy millers, collectors, and storage owners, fostering sustainable growth within the SME sector. Rizny Hussain, Seylan Bank Area Manager for the East Region, hands over the loan cheque to a customer from the Kalmunai branch, in the presence of Suhanya Kamalaruban, Head of Credit Hub East and W. Jayakumar, Kalmunai Branch Manager of Seylan Bank.About Seylan BankSeylan Bank, the Bank with a Heart, operates with a vision to offer the ultimate banking experience to its valued customers through cutting-edge technology, innovative pro...
Seylan Bank Posts Strong Growth with 20.3% Profit Surge
Seylan Bank PLC has demonstrated remarkable financial resilience in 2025, delivering exceptional results that exceeded market expectations and positioning the institution for sustained growth. The bank's impressive performance signals a robust recovery in Sri Lanka's banking sector amid challenging economic conditions. Record-Breaking Financial Performance The bank achieved a net profit of LKR 12.2 billion for the full year 2025, representing a substantial 20.3% increase compared to the previous year. This outstanding performance surpassed analyst forecasts and reflects the bank's strategic focus on strengthening its core operations while maintaining prudent risk management practices. According to the recent equity research update by First Capital Holdings PLC, Seylan Bank's results demonstrate not only financial strength but also a steady improvement in its underlying credit profile. This enhancement in credit quality positions the bank favorably for future lending opportunities and sustainable growth. Strategic Positioning for Future Growth The bank's strong performance comes at a crucial time for Sri Lanka's financial sector, which has been navigating through economic uncertainties. Seylan Bank's ability to maintain profitability while strengthening its fundamentals showcases effective management strategies and operational efficiency. The improved credit profile indicates that the bank has successfully managed its loan portfolio, reducing non-performing assets and enhancing collection mechanisms. This development is particularly significant as it provides a solid foundation for expanding lending activities and capturing market opportunities in the recovering economy. Market Confidence and Investor Outlook The bank's performance has generated positive sentiment among investors and market analysts. First Capital Holdings PLC's research highlights that Seylan Bank's resilient financial metrics position it well for capturing growth opportunities in the evolving banking landscape. The 20.3% profit growth demonstrates the bank's ability to generate sustainable returns while maintaining operational excellence. This performance metric is particularly impressive given the challenging macroeconomic environment and reflects the bank's strategic initiatives to optimize revenue streams and control costs effectively. Credit Quality Improvements Drive Confidence One of the most significant aspects of Seylan Bank's 2025 performance is the steady recovery in ...
Seylan Accelerate Introduces Interest-Free Salary Advance to Enhance Financial Flexibility for Salaried Professionals - Lanka Business News
Seylan Bank PLC has strengthened its proposition for salaried professionals with the introduction of the Seylan Accelerate Salary Advance Facility, offering interest-free access to a portion of monthly income when financial needs arise.
Seylan Accelerate introduces interest-free salary advance
Seylan Bank PLC has strengthened its proposition for salaried professionals with the introduction of the Seylan Accelerate Salary Advance Facility, offering interest-free access to a portion of ...
