What Seylan Bank does

Seylan Bank PLC is a publicly listed Sri Lankan commercial bank (Colombo Stock Exchange: SEYB.N0000) founded in 1987 and headquartered at Seylan Towers, Galle Road, Colombo 03. The bank operates an islandwide network of 171+ branches, ATMs, Cash Deposit Machines, and Cheque Deposit Kiosks, and is one of only two Sri Lankan banks with ATMs capable of dispensing mixed currency denominations. It serves four primary customer segments: retail consumers (savings, fixed deposits, credit and debit cards, personal and housing loans, digital banking), SMEs (Dinana Aya, 3-Day Loan Decision USP backed by the National Credit Guarantee Institution), corporate and commercial clients (project financing, trade finance, treasury, corporate credit cards), and the agriculture sector (Seylan Athwela at 5% p.a., Sarusara, Kapruka, Tea Smallholders, and ADB-backed schemes).

Seylan Bank's product portfolio spans more than 60 distinct offerings, including eight credit card tiers (Visa Infinite, Signature, World Mastercard, Platinum, Gold, Mastercard Freedom, Corporate, and Cash-Backed), seven debit card variants, seven savings account types, six fixed deposit categories, a full loan book (home, personal, vehicle, solar, pensioner, education, gold/pawning, and leasing), digital channels (Online Banking, Mobile Banking App, SeylanPay QR, Internet Payment Gateway, Merchant Portal, M-Pay, E-Statement, Automated Bill Settlement, Pay Direct, and SMS Alerts), and ancillary services such as foreign currency accounts, treasury, bancassurance, and safety lockers. The technology stack centers on a trilingual (English/Sinhala/Tamil) mobile banking application with biometric security (fingerprint and Face ID), the Seylan Soft Token for offline OTP generation, and an Open API Banking platform integrated with eChannelling for real-time payments and automated reconciliation. The bank is a participant in LankaQR and accepts Visa and Mastercard across SeylanPay and merchant acquiring.

Seylan Bank generates revenue primarily through net interest income on its loan portfolio (personal, housing, SME, agriculture, leasing), complemented by fee and commission income (ATM withdrawals, fund transfers via CEFT/SLIPS, credit card transactions, service charges), credit card revenue (annual fees, joining fees, cash advance fees, merchant discount rates, and revolving balance interest at 28% p.a.), foreign exchange and remittance services, digital banking fees, and trade finance commissions. Pricing is publicly disclosed on the website, with personal loan rates ranging from 4% to 30% p.a., housing loan processing fees of 0.5%, and SEYLANPAY merchant services priced at 0.50% MDR for LankaQR and 1.25% for Visa/Mastercard with no joining or annual fees. The go-to-market model combines a direct-to-consumer branch network, a self-service digital channel, dedicated corporate and SME relationship managers, and a channel-partner ecosystem (Sathosa Motors for ISUZU leasing, Colombo EV Motor Show 2026, Kedella Art of Living Exhibition, and 300+ merchant brands for card promotions). As of Q3 2025, total assets reached LKR 853 billion with a 26.3% YoY increase in profit after tax to LKR 8.33 billion, supported by a Basel III-compliant LKR 15 billion debenture raise and an A+(lka) Stable Fitch national long-term rating.

Name

Seylan Bank

Legal name

Seylan Bank PLC

Website

https://seylan.lk

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Seylan Bank PLC is a publicly listed Sri Lankan commercial bank founded in 1987, operating 171+ branches and serving retail consumers, SMEs, corporates, and the agriculture sector with deposits, lending, credit cards, digital banking, trade finance, and an Open API platform.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Credit Card Issuing (52221), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industries

SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations) (FSAGAAAI), Multi-Currency Accounts, Wallets & FX Management (Consumer/SME) (FSAGAKAF)

Keywords

• Commercial banking
• Retail banking
• Corporate banking
• SME lending
• Digital payments

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income: Primary revenue stream from lending activities including personal loans, housing loans, SME loans, agricultural financing, and leasing facilities. Net interest income from loan portfolio.
2. Fee and Commission Income: Transaction fees from ATM withdrawals, fund transfers (CEFT, SLIPS), credit card transactions, and service charges across savings, current accounts, and credit cards.
3. Credit Card Revenue: Revenue from credit card annual fees, joining fees, cash advance fees, overseas transaction fees, merchant discount rates, and interest charges on revolving balances.
4. Foreign Exchange Services: Income from foreign currency transactions, remittance services, travel card loading, and foreign currency account management services.
5. Digital Banking Services: Fees from internet banking subscriptions, mobile banking access, merchant portal services, and payment gateway transactions.
6. Trade Finance Services: Import/export services including LC issuance commissions, export bill negotiation, and trade-related guarantee fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

Seylan Bank PLC is a publicly listed commercial bank in Sri Lanka offering a comprehensive range of retail, SME, and corporate banking products. Its core offerings include savings and current accounts, fixed deposits, credit/debit/prepaid cards, personal and housing loans, business and agricultural lending, leasing, trade finance, foreign currency services, treasury products, and digital banking channels including a trilingual mobile app, internet banking, and SeylanPay QR payments. The bank distributes these services through 171+ branches, ATMs, and digital platforms across Sri Lanka.

Product overview

Seylan Bank operates as a comprehensive commercial bank in Sri Lanka offering a multi-product, multi-channel banking platform. The product portfolio spans retail and corporate banking with credit cards (Visa Infinite, Visa Signature, World Mastercard, Visa Platinum, Visa Gold, Mastercard Freedom, Corporate, and Cash-backed variants), debit cards (Visa Platinum, Visa Classic, Mastercard Platinum, Harasara, Accelerate, Teens, and Business variants), savings accounts (Tikiri, Regular, Harasara, Accelerate, Money Market, Ihalin Ihalata, and My Plan), fixed deposits (Regular 2-60 months, Millennium 30, Flexi, Foreign Currency, Long Term, and Call Deposits), loans (Home, Personal, Vehicle, Solar, Pensioner, Education, Gold Loan/Pawning, and Leasing), SME financing (Dinana Aya and 3-Day Decision SME USP), agricultural loans (Athwela, Sarusara, Kapruka, Tea Smallholders, ADB Scheme), and business services (Term Loans, Overdraft, Factoring, Project Financing). Digital banking includes Online Banking, Mobile Banking App, SeylanPay QR payments, Internet Payment Gateway, Merchant Portal, M-Pay mobile POS, SMS Alerts, E-Statement, Automated Bill Settlement, and Pay Direct. Additional services cover foreign currency accounts, prepaid travel cards, cards rewards, balance transfer plans, safety lockers, bancassurance, treasury services, export/import trade finance, priority banking, corporate banking, and financial trading. The bank operates 171 branches, ATMs, and Cash Deposit Machines islandwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Seylan Regular Savings Account
• Seylan Tikiri Savings Account Children's savings account with LKR 2,000 minimum deposit, designed for minors with parental supervision and tailored features for early financial inclusion.
• Seylan Harasara Savings Specialized savings scheme offering gift benefits for life events including weddings, childbirth, and education milestones, with accompanying Harasara Debit Card.
• Seylan Accelerate Savings Account High-yield savings account with LKR 7,500 minimum deposit and accelerated interest benefits, paired with Accelerate Debit Card.
• Seylan Ihalin Ihalata Account (Senior Citizens) Senior citizen savings scheme offering enhanced interest rates and specialized banking services tailored to pensioners and elderly customers.
• Seylan My Plan (Goal-based Savings) Goal-based savings plan enabling customers to systematically save toward specific financial objectives.
• Money Market Savings Account High-interest savings account targeting customers with significant balances who seek better returns than regular savings accounts.
• Seylan Regular Fixed Deposit (2-60 months) Traditional rupee fixed deposit with flexible tenure options from 2 to 60 months and competitive interest rates.
• Seylan Millennium 30 Fixed Deposit Specialized 30-day short-term fixed deposit offering premium interest rates for short-term savers.
• Seylan Flexi Fixed Deposit Flexible fixed deposit that allows partial withdrawals while keeping the remaining balance invested at the agreed rate.
• Seylan Foreign Currency Fixed Deposit Fixed deposit denominated in foreign currencies (USD, GBP, EUR) for non-resident and investor accounts.
• Seylan Long Term Fixed Deposits Extended tenure fixed deposits with terms exceeding 60 months offering enhanced returns.
• Seylan Call Deposit Flexible call deposit with 7-day minimum investment period and instant access to funds.
• Personal Current Account Standard personal current account for individual customers' day-to-day transactional banking.
• 2-in-1 Account Combined savings and current account that merges the benefits of both account types for personal customers.
• Business Current Account Business current account for partnerships, proprietorships, and commercial entities to manage daily transactions.
• Seylan Visa Infinite Credit Card Premium credit card with LKR 1,000,000+ credit limit, 50% cash advance limit, free annual and joining fees, and 51 days interest-free purchasing.
• Seylan Visa Signature Credit Card Premier credit card with LKR 1,000,000+ limit, 26% p.a. interest rate, complimentary travel insurance, and premium lifestyle benefits.
• Seylan World Mastercard Credit Card World-class credit card with LKR 6,000 annual fee, 51 days interest-free period, and comprehensive insurance benefits.
• Seylan Visa Platinum Credit Card Mid-tier platinum credit card with LKR 200,000-999,999 credit limit, 28% p.a. interest rate, and comprehensive card benefits.
• Seylan Visa Gold Credit Card Entry-level gold credit card with LKR 75,000-199,999 credit limit, competitive interest rates, and essential card features.
• Seylan Mastercard Freedom Credit Card Fee-free credit card requiring LKR 10,000 monthly spend commitment; LKR 1,500 maintenance charge applies if commitment is not met.
• Seylan Corporate Credit Card Business-oriented credit card with LKR 6,000 annual fee, 28% p.a. interest rate, and free supplementary cards for employees.
• Seylan Cash-Backed Credit Card Secured credit card backed by a fixed deposit, offering lower interest rates and fee waivers.
• Seylan Mastercard Platinum Debit Card Premium debit card with LKR 1,500,000 POS and LKR 500,000 ATM daily withdrawal limits, travel insurance, and worldwide acceptance.
• Seylan Visa Platinum Debit Card Platinum-tier debit card with enhanced withdrawal limits and global acceptance at Visa ATMs and merchants.
• Seylan Visa Classic Debit Card Standard debit card with LKR 1,000,000 POS and LKR 300,000 ATM daily withdrawal limits.
• Seylan Business Debit Card Business-focused debit card for corporate banking customers with transaction tracking features.
• Seylan Teens Debit Card Banking card designed for teenage customers with parental controls and savings features.
• Seylan Visa Multi-Currency Travel Card Multi-currency prepaid travel card for overseas spending with competitive exchange rates.
• Seylan Visa Rupee Prepaid Card Rupee-denominated prepaid card accepted for online and in-store purchases.
• Seylan Personal Loan Unsecured personal loans for various needs including debt consolidation, education, and lifestyle expenses, with interest rates from 4% to 30% p.a.
• Seylan Home Loan Housing finance for purchase, construction, or renovation of residential properties with competitive interest rates and mortgage bond options.
• Seylan Loan Against Property Secured borrowing against residential or commercial property with competitive interest rates.
• Seylan Vehicle Loan Financing for new and used vehicle purchases with flexible repayment terms.
• Seylan Solar Loan Specialized loan for solar panel installation and renewable energy systems, supporting residential and small commercial adoption.
• Seylan Pensioner Loan Tailored loan product for pension recipients with simplified eligibility criteria.
• Seylan Scholar Education Loan Education financing for students pursuing local and international academic programs.
• Seylan Gold Loan / Pawning Quick collateral-based loans against gold jewellery with minimal documentation.
• Seylan Leasing Vehicle and equipment leasing facility with repayment periods up to 7 years and competitive rates, including commercial vehicle and EV leasing.
• Seylan Dinana Aya Business Loan Business financing for SMEs with flexible terms and quick processing for entrepreneurs.
• Seylan SME USP (3-Day Loan Decision) Expedited SME lending initiative with a 3-day loan decision commitment for facilities below Rs. 25 million, partnered with National Credit Guarantee Institution Ltd. and the LIYA SHAKTHI Guarantee Scheme (up to 80% guarantee for women-led MSMEs).
• Seylan Athwela Agriculture Loan Concessionary financing programme for the agriculture sector at 5% interest rate, covering up to 75% of project costs with a LKR 5 million maximum loan ceiling.
• Seylan Sarusara Agriculture Loan Agricultural financing for cultivation activities and farming operations.
• Seylan Kapruka Agriculture Loan Agricultural loan product for smallholder farmers and agribusinesses.
• Seylan Tea Smallholders Loan Scheme Specialized financing for tea smallholders in Sri Lanka's plantation sector.
• Seylan ADB Loan Scheme Asian Development Bank-backed agricultural lending programme for the agriculture sector.
• Seylan Term Loan (Business) Medium to long-term business financing for capital investments and expansion.
• Seylan Overdraft Revolving credit facility for managing business cash flow fluctuations.
• Seylan Factoring Invoice factoring and receivables financing for improved cash flow management for businesses.
• Seylan Project Financing Large-scale project financing for sectors including power, energy, real estate, tourism, manufacturing, and infrastructure.
• Seylan Online Banking (Internet Banking) Internet banking platform enabling customers to manage accounts, transfer funds, pay bills, request cheque books, and schedule payments with multi-factor authentication security; includes Personal and Corporate variants.
• Seylan Mobile Banking App Mobile banking application with trilingual support in English, Sinhala, and Tamil, biometric security, three-factor authentication, loan applications for fixed deposit holders, fund transfers, bill payments, and branch location services.
• SeylanPay Mobile payment solution enabling QR payments, bank transfers, and multi-authentication; accepts LankaQR, Visa, and Mastercard payments for consumers and businesses with real-time settlement and no joining fee or annual minimum turnover charge.
• Seylan Internet Payment Gateway Online payment acceptance service enabling merchants to accept Visa and Mastercard transactions on their websites.
• Seylan Merchant Portal Online portal for merchants to manage payment acceptance and transaction monitoring.
• Seylan M-Pay (Mobile POS) Mobile point-of-sale solution transforming smartphones into credit card terminals via Bluetooth PIN pad devices.
• Seylan SMS Alerts Real-time transaction notifications for accounts and credit cards delivered via SMS.
• Seylan Automated Bill Settlement Recurring bill payment scheduling service for utilities and subscriptions.
• Seylan Pay Direct Quick payment solution for employee salary disbursements and vendor payments.
• Seylan E-Statement Electronic account statement delivery service replacing paper statements.
• Seylan Foreign Currency Accounts (PFCA, BFCA, OIA, CTRA, IIA, ERIA, NRRA) Multiple foreign currency account types for residents, non-residents, and investors including PFCA, BFCA, OIA, CTRA, IIA, ERIA, and NRRA.
• Seylan Export Expert Services Comprehensive export services including competitive exchange rates, loan facilities, and a dedicated export expert counter.
• Seylan Import Services Import letter of credit issuance, document handling, entrepot trade facilitation, and vehicle importing support.
• Seylan Treasury Services Treasury services including FX forward contracts, treasury bills, bonds, REPOS, reverse REPOS, and Sri Lanka Development Bonds for institutional investors.
• Seylan Red Priority Banking Premium priority banking service for high-net-worth customers offering exclusive benefits and personalized relationship management.
• Seylan Corporate Banking Comprehensive banking solutions for corporate entities including corporate and offshore banking services, project financing, trade finance, and treasury services.
• Seylan Business Banking Specialized banking services for businesses including dedicated business current accounts and SME lending support.
• Seylan Bancassurance Bancassurance products offering life and general insurance distributed through bank branches.
• Seylan Safety Locker Secure storage lockers available in small and medium sizes for safeguarding valuables at bank branches.
• Seylan Financial Trading Financial trading services including margin trading for stock market investments.

Quantifiable outcome

• 26.3% increase in profit after tax to LKR 8.33 billion in Q3 2025 compared to same period in 2024
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability5 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Colombo EV Motor Show 2026coreGTM or Marketing Partner · 25 June 2026Seylan Bank as Official Banking and Leasing Partner for Sri Lanka's largest international electric vehicle and motor accessories exhibition (June 26-28, 2026 at Sirimavo Bandaranaike Memorial Exhibition Centre, Colombo) offering exclusive EV leasing packages with special interest rates and fast-track approvals.
• Sathosa Motors PLCcoreChannel Partner/ Reseller/ Distributor · 23 June 2026Strategic partnership offering dedicated leasing facility for ISUZU commercial and passenger vehicles with 24-hour approval processing, flexible payment periods up to 7 years, and additional benefits including LKR 100,000 discount on trucks and LKR 200,000 on double cabs.
• Department of Development Finance (Sri Lanka)coreStrategic or Co-development Partner · 22 June 2026Collaboration to introduce 'Seylan Athwela' concessionary financing program for agriculture sector providing loans at 5% interest rate, covering up to 75% of project costs with maximum loan ceiling of LKR 5 million for farmers and agribusinesses.
• Government of Sri Lanka and Asian Development BankcoreStrategic or Co-development Partner · 19 March 2026Partnership supporting National Credit Guarantee Institution Ltd. providing loan guarantees up to 67% for MSMEs lacking collateral, and LIYA SHAKTHI Guarantee Scheme offering up to 80% guarantee coverage for women-owned or women-led MSMEs.
• 'Samanolasiri Haritha Wandana' ProjectminorGTM or Marketing Partner · 17 March 2026Environmental partnership supporting the 'Clean Sri Lanka' movement's restoration of Sri Pada's natural beauty by removing plastic waste from pilgrimage routes. Bank sponsored 3,000 hand gloves for volunteers.
• eChannelling (Pvt) LtdcoreTechnology or Integration · 5 December 2025Seylan Bank partnered with eChannelling to integrate its Open API Banking platform, enabling real-time, secure payments and automated reconciliation for Sri Lankan businesses.
• Kedella Art of Living ExhibitioncoreGTM or Marketing Partner · 7 November 2025Title Partnership for 14th consecutive year. Bank showcases banking products including home and solar loans at Sri Lanka's largest lifestyle event from November 14-16, 2025.
• HelpAge Sri LankaminorGTM or Marketing Partner · 21 October 2025Partnership to host senior citizens' medical camp in Wennappuwa providing free health checks and vision care, promoting financial and health support for the elderly in Sri Lanka.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Commercial Bank of Ceylon: Sri Lanka's largest private commercial bank offering retail, SME, corporate, and treasury services with an islandwide branch network and digital channels. Direct overlap with Seylan in core segments including credit cards, SME lending, and trade finance.
• Hatton National Bank (HNB): Major private commercial bank in Sri Lanka with comparable offerings across retail deposits, credit cards, SME and corporate lending, and digital banking. Closely comparable to Seylan in product breadth, branch density, and target customer mix.
• Sampath Bank: Mid-tier private commercial bank with strong retail, SME, and digital banking presence in Sri Lanka. Directly competes with Seylan across consumer loans, credit cards, and the SME segment, including similar government-backed guarantee schemes.
• Nations Trust Bank: Sri Lankan private commercial bank offering retail banking, credit cards, SME, and treasury services. Comparable mid-tier scale to Seylan with strong digital and premium card franchises (e.g., American Express partnership) that overlap Seylan's Visa/Mastercard card business.

Broad incumbents

• Bank of Ceylon (BOC): Sri Lanka's largest state-owned commercial bank with the widest branch network and dominant government and corporate relationships. Competes broadly across every product line Seylan offers but with materially larger scale and lower funding costs.
• People's Bank: State-owned commercial bank with islandwide branch presence serving retail, SME, and corporate segments. Comparable product set to Seylan but with state backing, larger balance sheet, and more concentrated government and public-sector deposits.

Regional players

• DFCC Bank: Sri Lankan development and commercial bank historically focused on project and infrastructure finance now operating as a full commercial bank. Overlaps with Seylan in SME, corporate, and treasury services but with a development-finance heritage tied to industrial lending.
• National Development Bank (NDB): Sri Lankan commercial and development bank with strong corporate, project finance, and capital markets offerings. Comparable in SME and corporate lending but skewed toward higher-ticket development banking rather than mass retail.
• Pan Asia Banking Corporation: Mid-sized Sri Lankan commercial bank serving retail, SME, and corporate customers. Comparable in scale and product offering to Seylan but with a smaller branch footprint, useful for benchmarking mid-tier private bank performance.

Emerging players

• Union Bank of Colombo: Smaller Sri Lankan commercial bank focused on retail and SME segments with digital banking emphasis. Comparable customer base to Seylan but at a smaller scale, representing a smaller-cap direct competitor in the mid-tier private banking segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/seylanbank
• YouTubeyoutube.com/Seylanmedia
• Facebookfacebook.com/SeylanBank
• LinkedInlk.linkedin.com/company/seylanbankplc
• Instagraminstagram.com/seylanbanklk

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Seylan Bank