(4 May 2012 – Sri Lanka) Seylan Bank in Sri Lanka has posted a 59 percent increase in their net profit for the first quarter of this year with a net profit-after-tax of US$3.29million (A$3.20million).Strong and steady growth was evident in total loans and advances and customer deposits in the first quarter which grew by 28 percent and 14 percent respectively.
Compared to the first quarter of 2011, net interest income grew by 9 percent while non interest income grew by 6 percent. Profit before tax was 60 percent above last year.