July 26, 2012 (LBO) – RAM Ratings Lanka said it had confirmed an ‘AA’ rating of Sri Lanka’s Sampath Bank with a stable outlook. “The ratings are supported by the Bank’s healthy asset quality and good market position,” RAM Ratings said in a statement.
“On the other hand, the ratings are tempered by the Bank’s moderate capitalisation.”
The full statement is reproduced below
RAM Ratings Lanka reaffirms Sampath Bank’s ratings at AA/P1
RAM Ratings Lanka has reaffirmed Sampath Bank PLC’s (Sampath or the
Bank) long- and short-term financial institution ratings at AA and P1
respectively; the long-term rating carries a stable outlook.
The ratings are
supported by the Bank’s healthy asset quality and good market position. On the
other hand, the ratings are tempered by the Bank’s moderate capitalisation.
Although a relatively new bank, with an operating history of approximately 25
years, Sampath has emerged as the country’s third-largest private-licensed
commercial bank (LCB), accounting for 6.85% of the industry’s total assets as
at end-December 2011. It i