Seylan Bank rating revised upwards to ‘A(lka)’ by Fitch

Seylan Bank, has been endorsed as a financially stable organisation with performance excellence across the board byFitch Ratings,with the Bank’s national long-term rating revised upward, from ‘A-(lka)’ to ‘A(lka).

Fitch Ratings has also revised the rating on the bank’s Senior Unsecured Redeemable Debentures to ‘A(lka)’ from ‘A-(lka)’ and affirmed the rating on the bank’s Subordinated Unsecured Redeemable Debentures as ‘BBB+(lka)’.

The ratings revision comes at a time when all industries have had to face unprecedented pressure due to a global pandemic, resulting in the failure of many.

Seylan Bank’s continued drive to ensure stability in its position and bring future ready banking services to customers is reflected in the upward revision of its rating.The Bank recorded a Profit after Tax of Rs. 902 million in the first quarter of 2020.

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