Seylan Bank will not use depositors' funds

Seylan Bank will not use the depositors' funds to meet the obligations to Golden Key Credit cardholders.

The bank issuing a release states further clarified that what is intended for sale are not the assets of the Seylan Bank, investments made by the bank or any shares owned by Seylan Bank.

This is merely a transaction between Ceylinco Group as shareholders and a new acceptable investor.

By deciding to sell the shares owned by Ceylinco Group, the Chairman and Ceylinco Group have displayed the commitment of Ceylinco to meet their obligations.

In a statement Following the Founder Chairman, Lalith Kotelawela's Press release of Saturday December 27, the bank made these clarifications to the General Public and their customers as they had received inquiries in this regard.

"What has been stated in the press release is that our Founder Chairman and Ceylinco Group have decided to divest Seylan Bank shares owned by Ceylinco Group so as to raise funds to honour the dues to Golden Key credit card holders,' the release adds.

We emphasize that the intended sale is of the shares owned by Ceylinco Group to a potential reputed investor subject to the permission of the relevant regulatory authorities.