Nov 05, 2009 (LBO) – Sri Lanka’s Sampath Bank group’s net profit for the September 2009 quarter rose 35.8 percent from a year earlier, as margins improved with higher lending to government.
Gross assets grew to 153.7 billion rupees (up 8.0 percent) and net assets to 10.9 billion rupees p 10.2 percent.
Revenues rose 10.5 percent to 6.4 billion rupees, though interest income from loans and advances fell 7.5 percent to 4.0 billion rupees.
Interest income from other assets which include government Treasuries rose 65.1 percent to 1,345 million rupees.
Interest income rose 10.9 percent to 16.1 billion rupees, while interest expense grew at a slower pace to 6.5 percent to 10.4 billion rupees, allowing net interest income to grow 20.0 to 5.6 billion rupees.
Forex income rose 96.5 percent to 181.0 million rupees, and other income which usually includes bond profits rose 53.4 percent to 907.5 million rupees.
The group portfolio of government securities rose to 38.5 billion rupees from 24.7 billion rupees from December 2008.
Total performing loans fell 0.8 percent to 88.6 billion rupees. Non performing loans climbed 14.4 percent to 9.6 billion rupees from December.