Seylan Bank posts pre-tax profit of over Rs. 1 billion

CORPORATE RESULTS: The Seylan Bank Group which includes its subsidiaries has recorded a net profit before tax of Rs. 1.16 billion for the financial year ended December 31, 2005 indicating a growth of 197.96% over the same period in 2004. Net profit after tax amounted to Rs. 0.776 billion up by 183.5% over 2004.

The bank's performance was the main contributor, the Bank said yesterday. The net profit before tax of Seylan Bank itself for the year ended 31st December 2005 was Rs. 1.06 billion. This shows a tremendous growth in profits of 121.84% over the same period in the previous year. The net profit after tax grew by a resounding 68.32%