Seylan Bank reports PAT of Rs.2.91bn in Q1’26
View(s):Seylan Bank has recorded a Profit Before Income Tax (PBT) of Rs.4,548 million in Q1 2026, against Rs.4,199 million reflecting a growth of 8.31 per cent.
For the three months ending March 2026, Profit after Tax (PAT) recorded by Seylan Bank was Rs.2,906 million with a growth of 5.25 per cent against Rs.2,761 million recorded in the corresponding period of 2025, the bank said in a media release.
Net interest income increased from Rs.8,587 million to Rs.9,734 million, an increase of 13.37 per cent over the previous year’s comparative period mainly due to the significant growth in bank’s assets base over the last 12 months from Rs.785 billion at the end of Q1 2025 to Rs.943 billion as at end March 2026.
Total operating expenses increased by 19.40 per cent, rising from Rs.5,135 million in Q1 2025 to Rs.6,131million in Q1 2026. Personnel expenses grew by 15.41 per cent primarily due to the annual revision to staff-related costs. Other operating expenses, including depreciation and amortisation, increased by 24.21 per cent, reflecting higher prices of consumables, card related expenses and other related services over the period. The bank continues to implement targeted cost optimisation initiatives to manage expenses efficiently.
The bank recorded an impairment charge of Rs.100 million in Q1 2026, lower than Rs.225 million in Q1 2025 with a reduction of 55.57 per cent. The bank has ensured impairment provisions are made prudently to reflect changes in the global and local economy, customer credit risk profiles, and the overall credit quality of the bank’s loan portfolio, ensuring adequacy of provisions recognised in the financial statements.
The bank recorded a PAT of Rs.2,906 million during Q1 2026, reflecting a growth of 5.25 per cent compared to the corresponding period in 2025.
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