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Sri Lanka Equity Forum » Stock Market & Forum Help » Stock Market News » Sampath's net profit up 51%, despite Rs. 29 mln forex losses

Sampath's net profit up 51%, despite Rs. 29 mln forex losses

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sampath Bank said this week that it had been negatively affected to the tune of Rs. 29 million in its foreign exchange dealings over the nine months to end-September 2011, with its overall foreign exchange earnings being Rs. 492 million. This was compare to the same period the year before when it had earned Rs. 521 million, a factor it said was mainly the result of "volatile market conditions and continuous appreciation of [the Sri Lankan Rupee against the US Dollar. The LKR appreciated against the US Dollar by Rs. 1.75 over the one year period, from Rs. 111.95 as at [September 30, 2010] to Rs. 110.20 as at [September 30, 2011]."

However, it was also stated that, overall, the Sampath Bank Group, under which the bank falls, along with four other subsidiaries, had shown a Group Pre Tax Profit of Rs. 4.6 billion, up 45.4% year-on-year. Also indicated, the bank was responsible for 94% of this profit. Additionally indicated, Group Post Tax Profit for the nine month period was Rs. 3.2 billion, a 51.7% year-on-year increase. Also emerging, the Central Bank had approved a request by Sampath Bank to set up Merchant Bank and Life Insurance subsidaries, and that these areas, along with what it calls an "accelerated" branch expansion programme, which saw it adding 40 branches in 2010 and 28 to date in 2011, with its current total being 199 branches, were to be its focus for the last three months of 2011.

Meanwhile, the bank also noted that one factor contributing to its improved profitability was a "rapid" year-on-year growth (38.3%) in its lending activites, even with declining rates, had generated a higher fee-based and commission income, equal to Rs. 624 million, up 43.2% year-on-year. Others included, higher recoveries of Non Performing Loans (NPLs) which also resulted in close to Rs. 1 billion in savings, Rs. 273 million in 2011 as against Rs. 1,183 billion in 2010, due to lower charges on loan loss provisions.

Further indicated; "Total deposit and the total asset bases of the bank grew by 25.5% and 28.8% respectively during the one year period ended [September 30, 2011]. The growth rates in the two areas in 2011 which amounted to 19.4% and 22.6% respectively too were impressive, going by the industry’s current growth rates. In addition, the growth in customer advances has been phenomenal, with the advances volumes recording a significant growth of 38.3 % during the one year period ended [September 30, 2011,] and 26.3% in the nine month period ended September 2011." (JH)

Source - Sunday Times


Senior Equity Analytic
Senior Equity Analytic
Sri Lanka Sampath Bank net up 45.6-pct

මෙරට ප්‍රමුඛ වාණිජ බැංකුවක් වන සම්පත් බැංකුව සිය නවතම ගිණුම් වාර්තා එළි දක්වා තිබේ.

මේ අනුව, 2011 සැප්තැම්බර් කාර්තුවේදී බැංකුවේ ශුද්ධ ලාභය සියයට 45.6 කින් වැඩිවී රුපියල් බිලියන 1.14 ක්වී තිබෙන අතර මෙම කාර්තුවේදී කොටසකට අදාළ ලාභය රුපියල් 7.33 ක්වී තිබේ.

සැප්තැම්බර් වලින් අවසන් වන මාස 09 තුළදී බැංකුවේ කොටසකට අදාළ ලාභය රුපියල් 20.81 ක්වී සමස්ත ලාභය රුපියල් බිලියන 3.2 ක්වී ඇත.

මේ කාලයේදී සම්පත් බැංකු සමූහයේ පොලී ආදායම සියයට 21.1 කින් වැඩිවී රුපියල් බිලියන 5.58 ක් වෙද්දී පොලී වියදම සියයට 21.5 කින් ඉහළ ගොස් රුපියල් බිලියන 3.0 ක්වී ඇත.

මේ නිසා, ශුද්ධ පොලී ආදායම සියයට 18.3 කින් වැඩිවී රුපියල් බිලියන 2.5 ක්වී තිබේ.

2011 සැප්තැම්බර් කාර්තුවේදී ක්‍රියාකාරී ණය ප්‍රමාණය සියයට 28.4 කින් වැඩිවී රුපියල් බිලියන 158.5 ක් වෙද්දී අක්‍රීය ණය ප්‍රමාණය රුපියල් බිලියන 5.83 ක සිට රුපියල් බිලියන 5.19 ක් දක්වා සියයට 11 කින් අඩුවී තිබේ.

බැංකුවේ පොලී නොවන ආදායම් සියයට 91.8 කින් වැඩිවී තිබෙන අතර එහි වටිනාකම රුපියල් බිලියන 1.34 කි.

2010 දෙසැම්බර් වනවිට තිබූ රුපියල් බිලියන 160.3 ක්වූ තැන්පතු ප්‍රමාණය රුපියල් බිලියන 179.6 ක් දක්වා සියයට 19.5 ක් දක්වා මේ වසරේ මුල් මාස නමය තුළදී වැඩිවී තිබෙන අතර සමූහයේ දළ වත්කම් ප්‍රමාණය රුපියල් බිලියන 230.6 ක් දක්වා වැඩිවී ඇත.

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