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Wed, 19 June 2013 20:58:56
Sri Lanka's Sampath Bank March quarter up 50.6-pct up
30 Apr, 2010 14:14:25
Apr 30, 2010 (LBO) – Sampath Bank group March 2010 quarter profits rose 50.6 percent to 598.4 million rupees from higher interest rate spreads, while non-performing loans had started to pick up, a stock exchange filing said.
In March quarter, the group's interest income from loans and advances had dipped 9.6 percent to 4.8 billion rupees, while interest expenses had fallen at a much faster rate of 28.4 percent to 2.56 billion rupees, resulting in net interest income of 2.2 billion rupees, up 29.4 percent from last year.

The group reported group earnings per share of 7.90 rupees for the quarter compared with 5.24 rupees a year ago.

Foreign exchange income was down 55.1 percent to 139.6 million rupees, while other income incomes based on fees and charges went up 11 percent to 538.7 million rupees.

Non-interest expenses consisting of personal, pensions and operations costs were up 17.2 percent to almost 1.5 billion rupees, the filing said.

The banking group provided 303.7 million rupees for bad and doubtful debts for the March quarter, up 121.8 percent from a year ago, and recovered 424.4 million rupees of bad debts, up 219.1 percent.

The bank had made a specific provision of 713.7 million rupees, up 164.4 percent, while general provision rose 100 percent to 14.5 million rupees.

The group's loan growth was up 3.7 percent to 103.3 billion rupees.

Performing loans and advances were up 4.6 percent to 95.3 billion rupees, while non-performing loans were down 6.2 percent to 7.96 billion rupees.

Deposits were up 5.4 percent to 132.7 billion rupees, while borrowings had come down 7.1 percent to 11.47 billion rupees.

Sampath Bank group's gross assets for the full year rose 4.0 percent to 164.3 billion rupees.

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