Banking Profit

Aug 14, 2007 (LBO) – Sampath Bank said Tuesday group after tax profit rose 22.5 percent to 329.6 million rupees for the quarter ending June 30, 2007. The group’s income was up 42 percent to 4.3 billion rupees from 3.0 billion, according to its results released to the stock exchange.

The group’s interest income rose by almost half, to 3.6 billion rupees while interest expenses rose 65.4 percent to 2.4 billion rupees.

Sampath Bank’s assets increased 9.8 percent to 120 billion rupees while total group assets increased to 125 billion.

Bank deposits also rose 11 percent 89.8 billion rupees over the period under review.

The bank’s capital adequacy rate as a percentage of the risk weighted assets slipped from 10.82 percent to 10.63 percent but was still above the minimum ten percent requirement.

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