Feb 28, 2013 (LBO) – Profits at Sri Lanka’s Sampath Bank rose 48.2 percent to 1.3 billion rupees in the December 2012 quarter from a year earlier, accounts filed with the Colombo Stock Exchange showed. The group reported earnings of 8.20 rupees per share for the quarter. For the year to December the group reported earnings of 32 rupees per share on total profits of 5.2 billion rupees, which rose 25 percent from a year earlier.
Fee income fell 24 percent to 958 million rupees with forex income falling to 4 million rupees from 400 million rupees a year earlier.
Interest income rose 59 percent to 6.1 billion rupees in the quarter from a year earlier, interest expenses rose at a faster 75 percent to 6.1 billion rupees, but the bank grew net interest income 36 percent to 3.4 billion rupees.
Loan loss provisions were a reversal of 108 million rupees, with 116 in new provisions and 197 million rupees in recoveries. There was also a 21 million rupee reversal for provisions made for falls in values of investments.
Update I .