Seylan Bank

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Seylan Bank PLC is a publicly owned commercial bank in Sri Lanka. It operates across the island with a large branch network and offers banking and financial services to individuals and businesses. The bank is listed on the Colombo Stock Exchange under SEYB.N0000 and is headquartered in Colombo. As of August 2024, Seylan Bank employed about 3,173 staff and ran around 170 banking centres nationwide, with a network of about 182 ATMs. In 2020, 11 branches offered 365‑day banking. The bank’s official website is www.seylan.lk.

Ownership and structure
- Major owner: LOLC Holdings PLC (51.60%)
- Other shareholders include Employees' Provident Fund (5.33%) and Sri Lanka Insurance Corporation Life Fund (3.35%), among others.
- Subsidiaries include Seylan Developments PLC (70.51%).

Key numbers (around 2024)
- Revenue: about 48.78 billion Sri Lankan rupees (2024 first half)
- Operating income: about 23.28 billion rupees (2024 first half)
- Net income: about 4.56 billion rupees (2024 first half)
- Total assets: about 725.22 billion rupees (2024 first half)
- Total equity: about 64.44 billion rupees (2024 first half)

Historical highlights
- Founded: Seylan Bank was incorporated on 28 August 1987 as a Public Limited Liability Company. The founder chairman was Dr. Lalith Kotelawala.
- Early growth: The bank started its first subsidiary, Seylan Merchant Bank Limited, in 1992, and also set up Ceylinco Seylan Development Limited to build its head office, Ceylinco Seylan Towers.
- Innovations: Seylan Bank introduced Sri Lanka’s first homegrown credit card and formed a partnership with Western Union.

Crisis and recovery
- 2008 crisis: The collapse of the related Golden Key Credit Card Company led to a liquidity crisis for Seylan Bank. In December 2008, the Central Bank of Sri Lanka placed the bank under the control of Bank of Ceylon.
- Turnaround: An 11‑member recovery team from Bank of Ceylon helped restore financial stability, implement stronger risk management, and reduce costs. By 2009 Seylan Bank posted a tax profit of 188 million rupees and recovered 300 million rupees from non‑performing loans. In May 2010, profits rose by about 32.3% compared with the previous year.

See also
- List of banks in Sri Lanka

External links
- Seylan Bank Official website: www.seylan.lk