BANKING

Seylan Bank marks 25th anniversary with islandwide initiatives

Seylan Bank celebrated its landmark 25th anniversary which fell yesterday (24 March), with a series of religious and CSR activities across Sri Lanka.

Religious observances took place at the Sri Maha Bodhi in Anuradhapura on March 1 and 2 with a Buddha Pooja, Pahan Pooja, Pirikara, Shabda and Kapruka Poojas, together with morning and afternoon alms-giving to the Maha Sangha. A Nuga sapling was also planted in the Maha Meyuna Uyana with the participation of a large number of customers, staff and well-wishers.

A Holy Mass of Thanksgiving was also celebrated at the Supuwath Arana, Seeduwa under the patronage of the His Lordship Bishop Rt. Rev. Dr. Emmanuel Fernando. A special Abishegam and Pooja were held at the Nallur Kovil in Jaffna after which cots were gifted to the State Receiving Home, Kaithedy.

Seylan Bank also sponsored the cataract operations of 25 patients at the Kuwait Hospital in Puttalam to help them regain their sight, while Luhar (noon) prayers and blessings were held at the Puttalam Grand Mosque.

Parallely Seylan Bank also donated newly refurbished libraries to four schools in different parts of the country. Among them were the Swarnapali Balika Maha Vidyalaya in Anuradhapura, Kopai Maha Vidyalayam in Jaffna, Fathima Muslim Girl's School in Puttalam, and, Raddolugama Kanishta Vidyalaya.

These were the forerunners of a total of 30 schools earmarked to receive libraries throughout the island, thus assuring long term benefits to society at large by imparting knowledge to school children across the country.

Founded in 1987, Seylan Bank PLC opened its doors for business on March 24, 1988 in Colombo Fort, Sri Lanka's traditional banking district. From its very inception, the bank presented itself as a flexible, customer-friendly alternative, delivering the promise of its motto - 'The Bank with a Heart'.

"Seylan Bank, has, in the past 25 years, rendered a unique personalised service to the public of Sri Lanka. It has faced challenges and has yet emerged victorious and strong, through its inherent resilience. We of the Seylan family have, from the very inception, built up a banking culture unique in the industry. We have built up special relationships with our customers. We have established trust and nurtured friendships.

This was amply proved when the bank was in serious trouble in late 2008. A new Board was appointed and before long customers who had withdrawn their money started bringing it back. The Bank slowly but surely bounced back. Public confidence was re-established as was evident when the two Rights Issues and the recent Debenture Issues were over-subscribed. We have not let the shareholders and our customers down", said Chairman of Seylan Bank Nihal Jayamanne PC.

"We are proud to state that in the year ending December 2012, we made an unprecedented profit-after-tax of Rs. 2 Bn plus. This is the highest profit ever made by Seylan in its 25 year history. A committed adherence to the strategic plan by the Board and its stringent implementation by the management, coupled with the dedication and the commitment of the Seylan team have paid dividends. We are proud of the entire Seylan team. Thank you !. We also thank all our customers, for without their loyalty we could not have achieved what we are celebrating today.

It is indeed a good omen to celebrate 25 years with an unprecedented profit. I have no doubt that we will continue to grow, from strength to strength. I am proud to be a member of the Seylan Family", the Chairman added.

In the run up to this 25th anniversary, Seylan Bank also unveiled its multi-pronged corporate campaign 'Beyond Just Banking' which drew strength from its four main tenets - Trust, Innovation, Service and Commitment. Harnessing all resources, it explored new frontiers and ventured beyond just banking in a much-acclaimed service campaign across its network which exemplified the spirit of the Seylan Bank.

Chief Executive Officer / General Manager of Seylan Bank Kapila Ariyaratne said that a major share of the Bank's success over the years has come from its ability to constantly innovate and create value through brand propositions which cater to the needs of Sri Lankans from all walks of life. "We have been able to successfully identify the banking needs of the public of Sri Lanka and will continue to deliver innovative solutions with a superior service, in keeping with our underlying vision "to be Sri Lanka's leading financial services provider - as recognised by all our stake holders".

Continuing he said, "To celebrate our 25th anniversary we chose the theme of religious observances and CSR initiatives as it gives us yet another opportunity to say 'Thank You' in a meaningful manner to all those who have contributed to make Seylan Bank what it is today ... to all our Past Chairmen, Directors, General Managers and members of staff who toiled hard with total dedication and commitment to build a much loved Bank ... to all our present stakeholders - shareholders, directors, staff and our beloved customers - who are making our rapid progress and forward march possible. We also acknowledge with gratitude the Government and the Central Bank of Sri Lanka which have stood by us and continue to guide our way forward", he added.

Seylan Bank has recorded many firsts in its exciting journey of two and a half decades. In 1992 it went on record as being the first-ever bank in Sri Lanka to introduce an indigenous credit card - Seylan Card. It introduced the concept of "Palm Top Banking" for the first time in Sri Lanka in 2007, and the following year, became the first Bank in Sri Lanka to launch its corporate website in all three official languages. It was also a pioneer in offering extended hour banking across the islandwide branch network and launching 365 day 24 hour banking. It won an "A" brand rating by Brand Finance PLC UK and was ranked 14th in Sri Lanka's Leading Brands (2010). The Bank was also listed under the Top 20 Corporates of Sri Lanka evaluated by Business Today Magazine while Fitch Ratings upgraded the bank's credit rating to A- from BBB+ in 2011

Seylan Bank has also, during its 25 years of service to the nation, clinched a large array of awards for its all-round excellence. In 2002 it won the Best Business Expansion Award at Western Union Middle East & South Asia Regional Conference held in Goa. A few years later in 2010 it won the Gold Award for Turnaround Brand for 2009 at the SLIM Brand Excellence Awards 2010. The same year it won the Bronze Award for its Annual Report 2009 in the Overall Banking Sector Category at the Annual Report Awards organised by the Institute of Chartered Accountants of Sri Lanka in 2010.

For the very first time in its history, Seylan Bank won a large haul of international awards for its Annual Report 2009 - The Case Study. It won a Gold Award for the 'Best Annual Report' in the Banking Category as well as the Gold for the 'Most Improved Annual Report in the Asia Pacific Region' at the Vision Awards 2009 organised by the League of American Communications Professionals LLC (LACP) Annual Report Competition.

Seylan Bank then went on to clinch a Gold Award for the 'Chairman's Letter', three Bronze Awards for 'Non Traditional Annual Report', 'Cover Photo / Design' and 'Interior Design' and a Honours Award for 'Photography' at the 24th ARC Awards International 2010.

Quoted on the Colombo Stock Exchange and with a highly resurgent performance in recent years, Seylan Bank today continues to touch the lives of hundreds of millions of Sri Lankans from all walks of life and across different ethnicities and geographies.

Its 148 outlets, which consist of 109 branches and 39 extension offices in an island-wide real-time connected network, supported by 154 ATMs are fully geared to deliver Seylan Bank's exciting and wide ranging portfolio of products and services to its millions of satisfied customers all over Sri Lanka.

Blackstone, Icahn seen likely to offer bids for Dell

Investment fund Blackstone sent a letter to Dell late Friday indicating it was finalizing a count offer to buy it out, a source told AFP Saturday.

Billionaire Carl Icahn also notified the computer maker he was working on a firm bid, the Wall Street Journal reported on its website, citing people familiar with the matter.

In February, Dell unveiled plans to go private in a $24.4 billion deal. The private equity buyout led by founder Michael Dell, backed by equity investment firm Silver Lake, would give shareholders $13.65 per share. The company had set a Friday deadline for alternative offers.

According to the Wall Street Journal, the Blackstone letter does not detail a bid but "offers a range that is higher than the existing $13.65 per share offer but lower than $15 per share."

AFP