Seylan Bank Plc (Sri Lanka)

The Bank was incorporated in 1987 as a Public Limited Liability Company. Its mission was to build a strong bank with equally strong subsidiaries serving the needs of all its customers within and outside Sri Lanka. In 1989, the Bank took over the Matara Branch of Indian Overseas Bank and in 1991, at the request of the Central Bank of Sri Lanka, Seylan Bank took over the management of the two local branches of the British based Bank of Credit and Commerce International (BCCI) which went into liquidation.
The Bank established its first subsidiary, Seylan Merchant Bank Limited, in 1992. A second subsidiary, Ceylinco Seylan Developments Limited, was also established in 1992, primarily for the purpose of constructing the Bank s head office building, Ceylinco Seylan Towers. The Bank s newest subsidiary, Seylan Bank Asset Management Limited was incorporated in 1999 in response to the Central Bank requirement that primary dealers in Government securities be maintained as separate corporate entities. The Bank s other subsidiaries are SMB Money Brokers (Private) Limited Ceylinco Express (Pvt) Ltd, SMB Real Estate Limited Seylan Merchant Leasing Ltd.
Commenced business operations as a licensed commercial bank regulated under the Banking Act No.30 of 1988 (as amended) on 24 March 1988.
Company was listed in the Colombo Stock Exchange on 5 January 1989.
The principal activity of the Company is commercial banking and provision of related financial services, such as accepting of deposits, personal banking, trade financing, off-shore banking, resident and non-resident foreign currency operations and related travel services.