Bank Gains

A picture of the Royal Thomian souvenir sold at the match by student of Royal College.

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.
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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.
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There was also a 21 million rupee reversal for provisions made for falls in values of investments.

Update I .

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