Company filings and market news from across Sri Lanka's stock market.
Seylan Bank Plc group profit rose 90% to 3.51 billion rupees in the December 2024 quarter, driven by a 4.9 billion-rupee impairment reversal from the Sri Lanka ISB exchange. Loans grew 6% to 463 billion rupees, gross NPLs fell to 2.10% and Tier 1 capital rose to 14.50%.
Seylan Bank staff donated Rs. 7.7 million to Apeksha Hospital’s children’s ward to purchase IV Asparaginase 3750 IU (Hamsyl) and 200 IV Terumo infusion sets to aid treatment of children with leukaemia.
Payable has processed over Rs.100 billion in transactions, and its strategic partnerships with Commercial Bank, HNB, Sampath Bank, Seylan Bank and Nations Trust Bank have supported wider merchant adoption of digital payments in Sri Lanka.
PAYable processed over Rs. 100 billion in transactions and serves about 40,000 merchants; the payments platform says strategic partnerships with Sri Lanka’s leading banks, including Commercial Bank, Hatton National Bank, Seylan Bank, Sampath Bank and Nations Trust Bank, support its growth.
Seylan Bank PLC reported PAT of LKR 10.05 Bn for 2024, a 61% y/y increase and the highest in its 36-year history. PBT was LKR 16.04 Bn (+59%), total assets LKR 780 Bn (+9%); net interest income fell 8% due to lower rates; impaired loans ratio 2.10% and total capital ratio 18.59%.
Dividend · Rs 3.50 · XD Apr 1, 2025
First And Final dividend of LKR 3.5/share; XD 2025-04-01; record 2025-04-01; payable 2025-04-23; FY 31 December 2024
Colombo Stock Exchange fell 1.20% (ASPI down 202.38 pts to 16,686.93) as banking-sector selling weighed on the market and turnover slid to 2.1 billion rupees with share volume down 45%. Top negatives included HNB, NDB, Commercial Bank, Central Finance and DFCC; Access Engineering’s subsidiary signed a PPA with the CEB.
Seylan Bank’s sales team won six awards at the SLIM National Sales Awards 2024 — one Gold, one Silver, three Bronze and a Merit; Hemal Kuruwitarachchi took Gold in the Sales Executive category.
Alliance Finance Company PLC issued Sri Lanka’s first Green Bond by an NBFI (rated A- by Lanka Rating), guaranteed by Seylan Bank, listed on the CSE and oversubscribed within hours. Proceeds will finance renewable energy, clean transport, energy efficiency and related green projects.
Alliance Finance Company PLC issued a Rs. 1 billion three-year Green Bond at a fixed 10.75% p.a. (effective 11.03%) that was fully subscribed on its opening day. The A- rated bonds are guaranteed by Seylan Bank and proceeds will fund rooftop solar (≈80%) and solar supply-chain financing (≈20%).
Seylan Bank held Thai Pongal celebrations in Colombo (Seylan Tower) and Jaffna (Tilko Jaffna City Hotel), attended by its chairman, CEO, staff and customers to mark the new year.
Sri Lanka's ASPI closed up 1.42% at 16,578.22, led by banks and finance stocks, with a net foreign outflow of 892 million rupees. Top contributors included Ceylinco (+9.3%), Central Finance (+6.0%), Sampath (+2.1%) and NDB (+2.4%), while Ambeon saw heavy foreign selling.
ASPI fell 1.3% (221 pts) to 16,345 as the Colombo market stayed bearish for a second day with Rs.2.4bn turnover; the Banking sector led losses and turnover, with HNB, SAMP, DFCC, MELS and COMB the main negatives and CTC, RICH and COOP top positives.
Sri Lanka's ASPI fell 1.33% to 16,345.30 as turnover was Rs2.3bn, with banks weighing on the market. Major decliners included NDB, Seylan, HNB, Sampath and DFCC while Nations Trust, Colombo Dockyard and Ceylon Tobacco gained; net foreign outflow was Rs64m.
The ASPI fell 2.3% for the first week of February despite a 1.38% rebound on Friday; weekly turnover averaged Rs.4.16bn and Friday turnover was Rs.2bn. Ceylinco, Melstacorp, John Keells and Aitken Spence were among Friday's top contributors, while Watawala, Seylan Bank and SMB Finance were key detractors.
Colombo's ASPI rebounded, rising over 50 points (0.3%) after a prior Rs.188 billion drop, with bargain buying lifting the market and the banking sector leading turnover. Sampath, DFCC, Seylan, C T Holdings and John Keells were top positive contributors while Ceylinco and Aitken Spence weighed on the index.
Sri Lanka stocks closed 0.6% higher, with the ASPI up 0.57% to 16,550.63, led by capital goods. Banks, construction and food & beverage shares saw notable investor interest; turnover was Rs 5.18bn and there was a net foreign outflow of Rs 126m.
Seylan Bank Plc will raise up to 15 billion rupees by issuing 150,000,000 Tier II listed, rated, unsecured, subordinated, redeemable debentures at Rs100 each, subject to shareholder and regulatory approvals. Fitch recently upgraded the bank's national long-term rating to A+(lka).
Colombo's ASPI rose 7.4% in January, with yesterday's turnover at Rs.5.1bn and foreign net selling of Rs.405.6m. Price gains in counters including Central Finance, Colombo Fort Land & Building, Ambeon Holdings, Teejay Lanka and Ambeon Capital and activity in Access Engineering and John Keells supported the market recovery.
Seylan Bank facilitated the repair and refurbishment of an ambulance for the 1990 Suwa Seriya Foundation’s 'Adopt an Ambulance' initiative in Puttalam. Bank executives presented the donation aimed at strengthening access to emergency medical aid in the area.
Colombo market turned bearish as the ASPI slipped 2 points to 17,115 on turnover of Rs.7.34bn and a net foreign outflow of Rs.2.2bn led by JKH; capital goods led turnover while NDB, COOP, AEL and Sierra Cables rose and Browns, Royal Ceramics, Melstacorp, LOLC and Hayleys lagged.
Fitch Ratings upgraded Seylan Bank's national long-term rating by two notches to A+(lka) with a stable outlook. Fitch said the move follows a recalibration of the Sri Lankan national rating scale after the sovereign upgrade; Seylan's LKR subordinated debt is rated two notches below the national anchor.
Fitch upgraded Seylan Bank PLC’s National Long-Term Rating two notches to ‘A+(lka)’ with a Stable outlook. Fitch said the move follows its recalibration of the Sri Lankan national rating scale after the sovereign upgrade and reflects Seylan’s financial stability and improved competitive position.
Colombo market rose with the ASPI up 0.8% on turnover of Rs. 6 billion, led by heavy trading in John Keells, Lanka IOC, HNB, Alumex and Browns and a net foreign outflow of Rs. 492.4 million. JKH fell to Rs. 23.10, HNB rose to Rs. 350.25, LIOC to Rs. 142.25, Alumex to Rs. 15.90 and Browns to Rs. 8.50.
DFCC Bank will reimburse LKR 2,000 of the transaction fee for remittances sent via Lanka Money Transfer to DFCC accounts (minimum LKR 50,000) during a promotion running until 31 January 2025. Customers are eligible for two monthly reimbursements and the top remitter wins a return air ticket.
Fitch upgraded the national long-term ratings of 10 Sri Lankan banks and affirmed five after recalibrating the national rating scale following a sovereign upgrade; upgrades include COMB, HNB, SAMP, SEYB, DFCC, NDB, NTB and PABC, while HDFC and SDB were affirmed. Fitch cited the sovereign IDR improvement as the driver.
Sri Lanka's ASPI fell 0.64% to 16,917.86 in a market correction as SL20 dropped 1.23% and turnover was Rs 7.4bn. Banks led the pullback (HNB -4.0%, NDB -1.34%, DFCC -1.5%, Seylan -0.5%) while Browns Investments, Sierra Cables, John Keells and RIL were among the most active stocks.
Fitch upgraded the national long-term ratings of 10 Sri Lankan banks and affirmed five after recalibrating the national rating scale following a sovereign upgrade; most outlooks remain Stable. Union Bank and Cargills Bank carry Negative Outlooks due to capital-buffer and parent-support risks.
Fitch upgraded the national long-term ratings of 10 Sri Lankan banks and affirmed five after recalibrating the national rating scale following Sri Lanka's sovereign upgrade on 20 December 2024.