Feb 14, 2011 (LBO) – The December 2010 quarter net profit at Sri Lanka’s Sampath Bank almost doubled to 1.4 billion rupees from a year ago with basic earnings per share up 96 percent to 8.84 rupees, a stock exchange filing said. Interest income fell 9.8 percent to 4.7 billion rupees and interest expenses fell 18.2 percent to 2.4 billion rupees allowing net interest income to rise 1.7 percent to 2.2 billion rupees in the quarter.
Non-interest income rose 38.2 percent to 2.1 billion rupees with a 44 percent rise in other income to two billion rupees while foreign exchange income fell 26 percent to 103 million.
In the financial year ended December 31, 2010, Sampath Bank’s net profit rose 68 percent to 3.5 billion rupees from a year ago with EPS rising to 22.80 rupees.
Interest income fell 12.3 percent to 18.7 billion rupees and interest expenses fell 25.5 percent to 10 billion rupees allowing net interest income to rise 10.3 percent to 8.7 billion rupees during the year.
Non-interest income rose 15.4 percent to 4.9 billion rupees with other income up 27 percent to 4.4 billion rupees while foreign exchange income fell 36 percent to 498 million rupees.
During the year, the bank made capital gains with 1.2 m