Seylan Bank PlcCSELK: SEYB.N0000

Interim Financial Statement for the quarter ended 31 March 2025

Apr 24, 2025 at 12:06 PM UTC · Issued by Seylan Bank Plc

Seylan Bank PLC

Interim Financial Statements

For the 03 Months Ended 31st March 2025

Seylan Bank records an impressive Profit after Tax (PAT) of LKR 2.76 Bn in Q1 2025

Profit before Income Tax - LKR 4,199 Mn up by 13.36%
Profit after Tax - LKR 2,761 Mn up by 20.29%
Liquidity Coverage Ratio (LCR) - All Currency of 389.25% and Rupee of 349.51%
Return on Equity (ROE) of 15.81%
Total Capital Adequacy Ratio of 17.64%
Impaired Loans (Stage 3) Ratio at 1.98%

Seylan Bank recorded a Profit before Income Tax (PBT) of LKR 4,199 Mn in Q1 2025, against LKR 3,704 Mn in Q1 2024 demonstrating a growth of 13.36%.

For the 3 months ended 31st March 2025, Profit after Tax recorded by Seylan Bank was LKR 2,761 Mn with a growth of 20.29% against LKR 2,295 Mn recorded in the corresponding period of 2024.

Statement of Financial Performance

Net interest income decreased from LKR 9,371 Mn to LKR 8,587 Mn, a decrease of 8.37% over the previous year for the 3 months ended 31st March 2025 mainly due to the reduction in market interest rates and repricing of loans and deposits. The Bank's Net Interest Margin (NIM) also recorded a reduction from 4.90% in 2024 to 4.45% in Q1 2025. The Bank's net fee based income recorded a growth of 13.83% from LKR 1,837 Mn to LKR 2,091 Mn during Q1 2025, and the growth in 2025 is mainly attributable to fee income from Loans, Cards, Remittances, Trade and other financial services.

The Bank's total operating income was recorded as LKR 11,258 Mn, a decrease of 3.83% compared to LKR 11,707 Mn 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.

Total Operating Expenses recorded an increase of 4.62% from LKR 5,126 Mn in 2024 to LKR 5,363 Mn in 2025 for the 3 months ended 31st March 2025. Personnel expenses increased by 3.22% from LKR 2,718 Mn to LKR 2,806 Mn mainly due to increase in staff related benefits.

Other Operating expenses and depreciation and amortization expenses too increased by 6.19% due to increase in prices of consumables and services over the period. The Bank will continue to take relevant measures to curtail costs through various cost initiatives.

The Bank recorded an impairment charge of LKR 262 Mn in Q1 2025 against LKR 1,555 Mn reported in Q1 2024 with a reduction of 83.17%. 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. The Bank's Asset Quality Ratios of Impaired Loan (Stage 3) Ratio stood at 1.98% (2024 - 2.10%), while the Stage 3 Provision Cover Ratio stood at a healthy 80.74% as at 31/03/2025.

Income tax expenses stood at LKR 1,438 Mn which is a 2.08% increase over the comparative period, which stood at LKR 1,409 Mn. Value Added Tax on Financial Services increased for the first three months from LKR 1,160 Mn to LKR 1,260 Mn in 2025 which is a 8.58% increase over the corresponding period. Social

Security Contribution Levy increased for the first three months from LKR 161 Mn to LKR 175 Mn in 2025 which is a 8.58% increase over the corresponding period.

Overall, Bank recorded a Profit after Tax (PAT) of LKR 2,761 Mn in Q1 2025 with a growth of 20.29% over the corresponding period in 2024.

Statement of Financial Position

The Bank's total Assets increased from LKR 779 Bn to LKR 785 Bn during Q1 2025, demonstrating a steady growth over the previous quarter. The Bank also made arrangements to canvass new to Bank Loans and Deposits while retaining the existing customer base. Loans and Advances of the Bank were recorded at LKR 469 Bn and Deposits were recorded at LKR 647 Bn. The Bank's CASA ratio was maintained at 29%.

Key financial ratios and indicators

Key financial ratios and indicators of Seylan Bank PLC remained sound as of 31st March 2025. The capital adequacy ratios were well above the regulatory minimum requirements and recorded 13.67% as Common Equity Tier 1 Capital Ratio & Total Tier 1 Capital Ratio and 17.64% as the Total Capital Ratio.

The Bank maintained the Liquidity Coverage Ratio (LCR) well above the statutory requirement. All Currency LCR Ratio and the Rupee LCR Ratio were maintained at 389.25% and 349.51% respectively.

The Banks's Asset Quality Ratios of Impaired Loan (Stage 3) Ratio and the Impairment (Stage 3) Provision Cover Ratio stood at 1.98% (2024 - 2.10%) and 80.74% (2024 - 80.90%) respectively.

The Return on Equity (ROE) stood at 15.81% (2024 - 15.35%) and Return on Average Assets (profit before tax) stood at 2.18% (2024 - 2.14%) for the period under review, recording an improvement.

The Bank's Earnings per Share stood at LKR 4.34 in Q1 2025 compared to LKR 3.61 reported in Q1 of the previous year. The Bank's Net Assets Value per Share stood at LKR 111.94 as at 31st March 2025 (Group LKR 115.14).

The Bank opened 16 "Seylan Pahasara Libraries" during the Q1 2025 taking the total number to 281 libraries, clearly signifying the Bank's commitment to foster education and support children across the island.

Fitch Ratings upgraded the National Long-Term Rating of Seylan Bank to 'A+(lka)' by two notches with a Stable Outlook on 21 January 2025.

Seylan Bank PLC

Income Statement

(In terms of Rule 7.4 of the Colombo Stock Exchange)

Bank

( Amounts in Rupees Thousands )

Group

For the Three Months Ended

31st March

For the Three Months Ended

31st March

	2025	2024	Growth	2025	2024	Growth
			%				%
Interest Income	19,483,400	22,697,497	(14.16)	19,497,520	22,715,728	(14.17)
Less : Interest Expenses	10,896,804	13,326,297	(18.23)		10,815,691	13,244,230	(18.34)
Net Interest Income	8,586,596	9,371,200	(8.37)	8,681,829	9,471,498	(8.34)
Fee and Commission Income	2,184,638	1,913,954	14.14	2,184,600	1,913,881	14.15
Less : Fee and Commission Expenses	93,412	76,789	21.65		93,412	76,789	21.65
Net Fee and Commission Income	2,091,226	1,837,165	13.83	2,091,188	1,837,092	13.83
Net Gains from Trading	111,773	103,632	7.86	111,773	103,632	7.86
Net Gains from Derecognition of Financial Assets	23,750	170,417	(86.06)	23,750	170,417	(86.06)
Net Other Operating Income	444,905	224,462	98.21	344,571	245,646	40.27

Total Operating Income	11,258,250	11,706,876	(3.83)	11,253,111	11,828,285	(4.86)
Less : Impairment Charges	261,797	1,555,469	(83.17)	261,797	1,555,469	(83.17)

Net Operating Income	10,996,453	10,151,407	8.32	10,991,314	10,272,816	6.99
Less : Operating Expenses
Personnel Expenses	2,805,662	2,718,137	3.22	2,818,110	2,732,932	3.12
Depreciation and Amortisation Expenses	338,953	322,579	5.08	352,170	338,319	4.09
Other Expenses	2,217,940	2,085,166	6.37	2,233,981	2,107,736	5.99

Total Operating Expenses	5,362,555	5,125,882	4.62	5,404,261	5,178,987	4.35

Operating Profit before Taxes	5,633,898	5,025,525	12.11		5,587,053	5,093,829	9.68
Less : Value Added Tax on Financial Services	1,259,776	1,160,201	8.58	1,259,776	1,160,201	8.58
Less : Social Security Contribution Levy	174,971	161,152	8.58	174,971	161,152	8.58

Profit before Income Tax	4,199,151	3,704,172	13.36		4,152,306	3,772,476	10.07
Less : Income Tax Expense	1,438,466	1,409,146	2.08	1,461,672	1,431,246	2.13

Profit for the Period	2,760,685	2,295,026	20.29	2,690,634	2,341,230	14.92
Profit Attributable to :					-	-	-

Equity Holders of the Bank	2,760,685	2,295,026	20.29	2,679,317	2,327,605	15.11
Non-controlling Interest	-	-	-		11,317	13,625	(16.94)
Profit for the Period	2,760,685	2,295,026	20.29		2,690,634	2,341,230	14.92
Basic/Diluted Earnings per Ordinary Share (Rs.)	4.34	3.61	20.22	4.22	3.66	15.30

Seylan Bank PLC

Statement of Profit or Loss and Other Comprehensive Income

(In terms of Rule 7.4 of the Colombo Stock Exchange)

		Bank

	For the Three Months Ended
		31st March
	2025	2024	Growth
			%
Profit for the Period	2,760,685	2,295,026	20.29
Other Comprehensive Income/ (Loss), net of Tax
Items that are or may be Reclassified to Income
Statement in Subsequent Periods
Net Gains on Investments in Debt Instruments
measured at Fair Value through Other Comprehensive	326,139	241,981	34.78
Income

( Amounts in Rupees Thousands )

Group

For the Three Months Ended

31st March

2025	2024	Growth
		%
2,690,634	2,341,230	14.92

326,111 258,765 26.03

Deferred Tax effect relating to items that are or may be Reclassified to Income Statement

Items that will never be Reclassified to Income Statement in Subsequent Periods

Net Change in Fair Value on Investments in Equity Instruments measured at Fair Value through Other Comprehensive Income

(97,842)

(72,594)

(34.78)

(97,834)

(77,629)

(26.03)

(99,473)

145,320

(168.45)

(99,473)

145,320

(168.45)

Deferred Tax effect relating to items that will never	-	-	-
be Reclassified to Income Statement


Other Comprehensive Income for the Period, Net of
Taxes	128,824	314,707	(59.07)

Total Comprehensive Income for the Period	2,889,509	2,609,733	10.72
Total Comprehensive Income Attributable to:
Equity Holders of the Bank	2,889,509	2,609,733	10.72
Non-controlling interest	-	-	-
Total Comprehensive Income for the Period	2,889,509	2,609,733	10.72

-	-	-

128,804	326,456	(60.54)

2,819,438	2,667,686	5.69
2,808,126	2,650,596	5.94
11,312	17,090	(33.81)
2,819,438	2,667,686	5.69

Seylan Bank PLC

Statement of Financial Position

(In terms of Rule 7.4 of the Colombo Stock Exchange)

(Amounts in Rupees Thousands )

		Bank
	As at	As at	Growth
	31.03.2025	31.12.2024	%
		(Audited)
Assets
Cash and Cash Equivalents	19,539,795	17,384,396	12.40
Balances with Central Bank of Sri Lanka	9,005,368	8,719,115	3.28
Placements with Banks and Finance Companies	42,270,159	50,156,002	(15.72)
Derivative Financial Instruments	8,406	17,398	(51.68)
Financial Assets recognised through Profit or Loss
- Measured at Fair Value	17,501,792	21,454,098	(18.42)
- Designated at Fair Value	-	-	-
Financial Assets at Amortised Cost
- Loans and Advances	468,820,381	462,950,751	1.27
- Debt and Other Instruments	118,442,263	136,224,930	(13.05)
Financial Assets measured at Fair Value through Other Comprehensive	82,988,458	56,248,530	47.54
Income

Investment in Subsidiary	1,153,602	1,153,602	-
Group Balances Receivable	155,065	40,300	284.78
Property, Plant & Equipment	5,102,437	5,100,594	0.04
Right-of-use Assets	5,326,550	5,189,444	2.64
Investment Properties	-	-	-
Intangible Assets	641,056	669,783	(4.29)
Deferred Tax Assets	108,121	205,963	(47.50)
Other Assets	13,967,174	14,174,933	(1.47)

Total Assets	785,030,627	779,689,839	0.68
Liabilities
Due to Banks	7,358,800	8,141,795	(9.62)
Derivative Financial Instruments	1,802	809	122.74
Financial Liabilities at Amortised Cost
- Due to Depositors	647,336,607	646,817,333	0.08
- Due to Debt Securities Holders	2,179,051	1,461,944	49.05
- Due to Other Borrowers	21,870	23,731	(7.84)
Group Balances Payable	132,961	98,942	34.38
Debt Securities Issued	25,820,515	25,128,383	2.75
Retirement Benefit Obligations	3,719,783	3,600,641	3.31
Current Tax Liabilities	1,915,217	1,489,697	28.56
Deferred Tax Liabilities	-	-	-
Lease Liabilities	5,772,133	5,613,107	2.83
Other Liabilities	19,618,673	16,824,985	16.60

Total Liabilities	713,877,412	709,201,367	0.66
Equity
Stated Capital	21,693,370	21,693,370	-
Statutory Reserve Fund	3,383,537	3,383,537	-
Fair Value through Other Comprehensive Income Reserve	659,584	530,760	24.27
Retained Earnings	42,042,621	41,525,916	1.24
Other Reserves	3,374,103	3,354,889	0.57
Total Shareholders' Equity	71,153,215	70,488,472	0.94
Non-controlling Interest	-	-	-

Total Equity	71,153,215	70,488,472	0.94

Total Equity & Liabilities	785,030,627	779,689,839	0.68
	-	-	-
Contingent Liabilities and Commitments	242,793,352	180,816,364	34.28
	-	-
Memorandum Information
Number of Employees	3,252	3,211	1.28
Number of Banking Centres	170	170	-

Net Assets Value per Ordinary Share (Rs.)	111.94	110.89	0.95

Group

As at	As at	Growth
31.03.2025	31.12.2024	%
	(Audited)
19,539,835	17,384,436	12.40
9,005,368	8,719,115	3.28
42,270,159	50,156,002	(15.72)
8,406	17,398	(51.68)
17,501,792	21,454,098	(18.42)
-	-	-
468,820,381	462,950,751	1.27
118,548,722	136,314,858	(13.03)
83,348,934	56,615,939	47.22
-	-	-
-	-	-
7,911,574	7,923,121	(0.15)
2,931,079	2,784,310	5.27
851,016	857,391	(0.74)
641,056	669,783	(4.29)
108,121	-	-
14,030,030	14,219,975	(1.34)
785,516,473	780,067,177	0.70
	14,574,073	-
7,358,800	8,141,795	(9.62)
1,802	809	122.74
647,336,607	646,817,333	0.08
2,179,051	1,461,944	49.05
21,870	23,731	(7.84)
-	-	-
25,820,515	25,128,383	2.75
3,715,145	3,596,003	3.31
1,956,279	1,523,304	28.42
668,028	456,468	46.35
2,587,556	2,430,915	6.44
19,639,227	16,810,680	16.83
711,284,880	706,391,365	0.69
	-
21,693,370	21,693,370	-
3,383,537	3,383,537	-
642,709	513,900	25.06
42,795,926	42,360,589	1.03
4,672,736	4,653,522	0.41
73,188,278	72,604,918	0.80
1,043,315	1,070,894	(2.58)
74,231,593	73,675,812	0.75
785,516,473	780,067,177	0.70
242,803,335	180,821,071	34.28
3,268	3,227	1.27
170	170	-
115.14	114.22	0.81

	-	-	-	-	-	-
Certification;	1,802	809	123

I certify that the above Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.

(Sgd.)

Champika Dodanwela (Ms.)

Chief Financial Officer

We the undersigned, being the Chairman, Director/ Chief Executive Officer of Seylan Bank PLC certify jointly that,

a ) the above statements have been prepared in compliance with the format and definitions prescribed by the Central Bank of Sri Lanka; and

b ) the information contained in these statements have been extracted from the un-audited financial statements of the Bank & Group unless indicated as audited.

(Sgd.)	(Sgd.)
Justice Buwaneka Aluwihare PC	Ramesh Jayasekara
Chairman	Director/Chief Executive Officer
April 24, 2025
Colombo

Seylan Bank PLC

Statement of Changes in Equity

For the Three Months ended 31st March - Bank

(Amounts in Rupees Thousands )

		Stated Capital	Statutory	Retained		Other Reserves		Total
		Ordinary Shares -	Ordinary Shares -	Reserve Fund	Earnings	Revaluation	FVOCI Reserve	Special Reserve	Other Reserves
		Voting	Non Voting	*		Reserve
							**	***


1 Balance as at 01st January 2024	12,794,664	8,114,009	2,880,973	34,846,140	1,374,219	(203,999)	-	700,575	60,506,581
	Total Comprehensive Income for the Period
	Profit for the Period	-	-	-	2,295,026	-	-	-	-	2,295,026
	Other Comprehensive Income (net of tax)
	- Net Gains on Investments in Debt Instruments measured at Fair Value through Other
	Comprehensive Income	-	-	-	-	-	169,387	-	-	169,387
	- Net Change in Fair Value on Investments in Equity Instruments measured at Fair Value
	through Other Comprehensive Income	-	-	-	-	-	145,320	-	-	145,320
2 Total Comprehensive Income for the Period	-	-	-	2,295,026	-	314,707	-	-	2,609,733
	Transactions with Equity Holders , Recognised Directly In Equity
	Cash / Scrip Dividends to Equity Holders	378,313	406,384	-	(1,538,623)	-	-	-	-	(753,926)
3 Total Transactions with Equity Holders	378,313	406,384	-	(1,538,623)	-	-	-	-	(753,926)
	Balance as at 31st March 2024 (1+2+3)	13,172,977	8,520,393	2,880,973	35,602,543	1,374,219	110,708	-	700,575	62,362,388

1 Balance as at 01st January 2025	13,172,977	8,520,393	3,383,537	41,525,916	2,070,817	530,760	583,497	700,575	70,488,472
	Total Comprehensive Income for the Period
	Profit for the Period	-	-	-	2,760,685	-	-	-	-	2,760,685
	Other Comprehensive Income (net of tax)
	- Net Gains on Investments in Debt Instruments measured at Fair Value through Other
	Comprehensive Income	-	-	-	-	-	228,297	-	-	228,297
	- Change in Fair Value on Investments in Equity Instruments measured at Fair Value
	through Other Comprehensive Income	-	-	-	-	-	(99,473)	-	-	(99,473)
2 Total Comprehensive Income for the Period	-	-	-	2,760,685	-	128,824	-	-	2,889,509
	Transactions with Equity Holders , Recognised Directly In Equity
	Cash Dividends to Equity Holders	-	-	-	(2,224,766)	-	-	-	-	(2,224,766)
	Transferred to Special Reserve	-	-	-	(19,214)	-	-	19,214	-	-
3 Total Transactions with Equity Holders	-	-	-	(2,243,980)	-	-	19,214	-	(2,224,766)
	Balance as at 31st March 2025 (1 + 2 + 3)	13,172,977	8,520,393	3,383,537	42,042,621	2,070,817	659,584	602,711	700,575	71,153,215
				3,383,537	42,042,621		-		3,374,103	71,153,215
		-	-	-	-		-		-	-

Statutory Reserve Fund represents the statutory requirement in terms of the Section 20(1) and (2) of the Banking Act No. 30 of 1988 (5% of net profit after tax).
FVOCI Reserve - Fair Value through Other Comprehensive Income Reserve.
Special Reserve was created for Restructured International Sovereign Bonds as per CBSL Instructions (02/17/500/0819/016) dated 13 Feb 2025 and included in other reserves.

Seylan Bank PLC

Statement of Changes in Equity

For the Three Months ended 31st March - Group

(Amounts in Rupees Thousands )

Stated Capital

Ordinary Ordinary

Shares - Voting Shares - Non

Voting

Statutory Retained

Reserve Fund Earnings

Other Reserves

Revaluation FVOCI Reserve	Special Reserve	Other Reserves
Reserve
**	***

Total	Non -	Total Equity
	Controlling
	Interest

1 Balance as at 01st January 2024	12,794,664	8,114,009	2,880,973	35,540,973	2,329,017	(233,618)	-	955,788	62,381,806	1,316,044	63,697,850
	Total Comprehensive Income for the Period
	Profit for the Period	-	-	-	2,327,605	-	-	-	-	2,327,605	13,625	2,341,230
	Other Comprehensive Income (net of tax)
	- Net Gains on Investments in Debt Instruments measured at Fair Value through Other
	Comprehensive Income	-	-	-	-	-	177,671	-	-	177,671	3,465	181,136
	- Change in Fair Value on Investments in Equity Instruments measured at Fair Value through Other
	Comprehensive Income	-	-	-	-		145,320	-	-	145,320	-	145,320
2 Total Comprehensive Income for the Period	-	-	-	2,327,605	-	322,991	-	-	2,650,596	17,090	2,667,686
	Transactions with Equity Holders , Recognised Directly In Equity
	Cash / Scrip Dividends to Equity Holders	378,313	406,384	-	(1,538,623)	-	-	-	-	(753,926)	-	(753,926)
	Acquisition of Non-Controlling Interest	-	-	-	76,749	151	(1,227)	-	21,954	97,627	(276,732)	(179,105)
3 Total Transactions with Equity Holders	378,313	406,384	-	(1,461,874)	151	(1,227)	-	21,954	(656,299)	(276,732)	(933,031)
	Balance as at 31st March 2024 (1+2+3)	13,172,977	8,520,393	2,880,973	36,406,704	2,329,168	88,146	-	977,742	64,376,103	1,056,402	65,432,505

1 Balance as at 01st January 2025	13,172,977	8,520,393	3,383,537	42,360,589	3,092,283	513,900	583,497	977,742	72,604,918	1,070,894	73,675,812
	Total Comprehensive Income for the Period
	Profit for the Period	-	-	-	2,679,317	-	-	-	-	2,679,317	11,317	2,690,634
	Other Comprehensive Income (net of tax)
	- Net Gains on Investments in Debt Instruments measured at Fair Value through Other
	Comprehensive Income	-	-	-	-	-	228,282	-	-	228,282	(5)	228,277
	- Change in Fair Value on Investments in Equity Instruments measured at Fair Value through Other
	Comprehensive Income	-	-	-	-	-	(99,473)	-	-	(99,473)	-	(99,473)
2 Total Comprehensive Income for the Period	-	-	-	2,679,317	-	128,809	-	-	2,808,126	11,312	2,819,438
	Transactions with Equity Holders , Recognised Directly In Equity
	Cash Dividends to Equity Holders	-	-	-	(2,224,766)	-	-	-	-	(2,224,766)	(38,891)	(2,263,657)
	Transferred to Special Reserve	-	-	-	(19,214)	-	-	19,214	-	-	-	-
3 Total Transactions with Equity Holders	-	-	-	(2,243,980)	-	-	19,214	-	(2,224,766)	(38,891)	(2,263,657)
	Balance as at 31st March 2025 (1 + 2 + 3)	13,172,977	8,520,393	3,383,537	42,795,926	3,092,283	642,709	602,711	977,742	73,188,278	1,043,315	74,231,593
			-	-	-		-		-	-	-	74,231,593
	* Statutory Reserve Fund represents the statutory requirement in terms of the Section 20(1) and (2) of the Banking Act No. 30 of 1988 (5% of net profit after tax).							-

FVOCI Reserve - Fair Value through Other Comprehensive Income Reserve.
Special Reserve was created for Restructured International Sovereign Bonds as per CBSL Instructions (02/17/500/0819/016) dated 13 Feb 2025 and included in other reserves.

	Statement of Cash Flows	Bank		Group
	For the Three months ended 31st March	2025	2024	2025	2024
		LKR '000	LKR '000	LKR '000	LKR '000
	Cash Flows from Operating Activities
	Interest Receipts	18,561,897	22,997,016	18,576,017	23,015,256
	Interest Payments	(10,527,984)	(11,387,876)	(10,526,446)	(11,384,954)
	Net Fee and Commission Receipts	2,091,226	1,837,165	2,091,188	1,837,092
	Trading Income	67,800	24,888	67,800	24,888
	Payments to Employees	(2,610,166)	(2,406,733)	(2,622,614)	(2,417,769)
	VAT and SSCL on Financial Services Paid	(1,291,244)	(1,217,765)	(1,291,244)	(1,217,765)
	Receipts from Other Operating Activities	393,629	242,715	356,216	263,899
	Payments on Other Operating Activities	(2,505,734)	(1,639,592)	(2,534,992)	(1,689,228)
	Operating Profit before Changes in Operating Assets and Liabilities	4,179,424	8,449,818	4,115,925	8,431,419
	(Increase)/Decrease in Operating Assets :
	Balances with Central Bank of Sri Lanka	(286,253)	3,752,817	(286,253)	3,752,817
	Financial Assets at Amortized Cost - Loans and Advances	(5,981,592)	8,536,480	(5,981,592)	8,536,480
	Other Assets	(39,408)	2,755,291	47,880	2,738,551
	Increase/(Decrease) in Operating Liabilities :
	Financial Liabilities at Amortized Cost - Due to Depositors	1,270,816	(2,046,887)	1,270,816	(2,046,887)
	Financial Liabilities at Amortized Cost - Due to Debt Securities Holders	707,683	(5,191,779)	707,683	(5,191,779)
	Financial Liabilities at Amortized Cost - Due to Other Borrowers	(1,861)	2,384	(1,861)	2,384
	Other Liabilities	697,730	(3,090,087)	611,237	(3,206,622)
	Due to Banks	(782,995)	(706,260)	(782,995)	(706,260)
	Cash Generated from Operating Activities before Income Tax	(236,456)	12,461,776	(299,160)	12,310,103
	Income Tax Paid	(968,514)	(1,077,468)	(970,285)	(1,094,427)
	Net Cash (Used in) / Generated from Operating Activities	(1,204,970)	11,384,308	(1,269,445)	11,215,676
	Cash Flows from Investing Activities
	Purchase of Property , Plant & Equipment	(170,293)	(60,978)	(170,929)	(61,508)
	Improvements in Investment Properties	-	-	(2,480)	-
	Proceeds from Sale of Property , Plant & Equipment	278	227	278	227
	Net Cash Flow from Financial Assets - FVTPL	3,971,924	14,869,075	3,971,924	14,869,075
	Net Cash Flow from Debt Instruments at Amortised Cost	16,096,807	(19,965,270)	16,116,691	(19,965,270)
	Net Cash Flow from Financial Assets - FVOCI	(25,694,494)	(5,876,612)	(25,723,977)	(5,782,198)
Rev Reverse Repurchase Agreements	1,608,211	(588,867)	1,608,211	(588,867)
Net Net Purchase of Intangible Assets	(19,323)	(5,293)	(19,323)	(5,293)
Net Net Cash Flow from Disposal of Subsidiaries	-	-	-	-
Div Dividend Received from Investment in Subsidiaries	-	-	-	-
Div Dividend Received from Other Investments	1,128	2,782	1,128	2,782
	Net Cash Used in Investing Activities	(4,205,762)	(11,624,936)	(4,218,477)	(11,531,053)
	Cash Flows from Financing Activities
Rep Repayment of Subordinated Debt	-	-	-	-
Inte Interest Paid on Subordinated Debt	(189,126)	(87,257)	(189,126)	(87,257)
Div Dividend Paid to Non-Controlling Interest	-	-	-	(6)
Rep Repayment of Principal Portion of Lease Liabilities	(232,110)	(212,627)	(154,920)	(137,871)

Net Net Cash Used In Financing Activities	(421,236)	(299,884)	(344,046)	(225,134)

Net Net Decrease in Cash and Cash Equivalents	(5,831,968)	(540,511)	(5,831,968)	(540,511)
Cas Cash and Cash Equivalents at Beginning of the Year	67,641,922	71,210,384	67,642,460	71,210,922

Cas Cash and Cash Equivalents at End of the Period	61,809,954	70,669,873	61,810,492	70,670,411

EXPLANATORY NOTES

General
The Financial Statements of the Bank and Group have been prepared in accordance with the Sri Lanka Accounting Standards (SLFRSs/LKASs) issued by The Institute of Chartered Accountants of Sri Lanka.
There are no changes to the accounting policies and methods of computation since the publication of the last Annual Report.
The Interim Financial Statements of the Bank and the Group have been prepared and presented in accordance with the Sri Lanka Accounting Standards (LKAS/SLFRS) and provided necessary disclosure to comply with LKAS 34, Interim Financial Reporting.
The Group Financial Statements comprise of the consolidated Financial Statements of the Bank and its subsidiary Seylan Developments PLC (74.69%).
Information on Ordinary Shares

Market Price (LKR)	31/03/2025	31/03/2024
	Voting	Non-Voting	Voting	Non-Voting
Market Price Per Share	77.90	57.00	47.00	38.00
Highest price per share during the quarter ended	79.50	58.20	48.00	39.00
Lowest price per share during the quarter ended	47.20	37.00	40.60	32.00

Stated Capital as at March 31, 2025	No. of Shares	Stated Capital
		(LKR.'000)
Ordinary Voting	305,236,937	13,172,977
Ordinary Non-Voting	330,410,398	8,520,393
Total	635,647,335	21,693,370

3. Shareholders Information
3.1 Twenty Largest Ordinary Voting Shareholders as at March 31, 2025	No. of Shares	%

1	Brown & Company PLC A/C No. 1	31,979,642	10.48
2	Sri Lanka Insurance Corporation Ltd - General Fund	30,523,687	10.00
3	Employee's Provident Fund	30,088,766	9.86
4	Sampath Bank PLC / LOLC Investments Ltd	28,559,742	9.36
5	National Development Bank PLC	26,631,495	8.72
6	Ambeon Holdings PLC	26,274,482	8.61
7	Seylan Bank PLC A/C No.04 - Employees Gratuity Trust Fund	20,236,610	6.63
8	Mr. K.D.D. Perera	20,000,000	6.55
9	Bank of Ceylon No. 1 Account	17,169,574	5.62
10	Sri Lanka Insurance Corporation Ltd - Life Fund	15,261,841	5.00
11	Sampath Bank PLC / Brown and Company PLC	10,371,776	3.40
12	Employees Trust Fund Board	6,286,712	2.06
13	People's Leasing & Finance PLC / Don and Don Holdings (Private)	3,305,193	1.08
	Limited
14	NDB Capital Holdings Limited Account No - 02	2,391,656	0.78
15	Ambeon Capital PLC	2,287,044	0.75
16	EMFI Capital Limited	2,019,501	0.66
17	Est.of Late M.J. Fernando	1,541,336	0.50
18	Mr. K.R.B. Fernando	1,320,731	0.43
19	Dr. J.L.B. Kotelawala	699,357	0.23
20	Mr. H. Beruwalage	600,815	0.20

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