Media industry figure and businessman Rayynor Silva has lifted his stake in Seylan Bank to 10% from 6% through a fresh Rs. 1.2 billion investment, the Daily FT reported.
Silva’s investment arm Phantom Investments Ltd. picked up 12 million Seylan shares — a 4% stake — at Rs. 104 each, taking Phantom’s total holding to 10%. As of 31 March 2026, Phantom’s stake had been 5% before climbing to 6% over April, the Daily FT said.
The latest purchase makes Phantom one of the most actively scaling shareholders in Sri Lankan banking this cycle and consolidates Silva’s position in the financial services industry. The build-up comes shortly after Phantom Investments pared its NDB Bank holding to its maximum permissible 10% on Monday with a Rs. 2.77 billion stake disposal, reshuffling capital from NDB to Seylan within the same week.
The move is the first material change in Seylan Bank’s ownership register since the bank’s Q1 2026 results showed profit after tax up 5.25% year-on-year. It is also the first significant Seylan shareholder action since Dhammika Perera’s exit from the bank in October 2025. Any holdings above the 10% threshold trigger CBSL fit-and-proper review, which means Phantom is now at the regulatory ceiling on a single counter for the second time in a week.
