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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka's Sampath Bank signs up development credit from China, France

Sri Lanka's Sampath Bank signs up development credit from China, France

3 posters

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CSE.SAS

CSE.SAS
Global Moderator
Sri Lanka's Sampath Bank has signed up medium term credit facilities from Chinese and French development finance institutions, managing director Aravinda Perera said.

China Development Bank had loaned the bank 45 million US dollars for 5-years, and Proparco, a French development agency had agreed to give an 8-year 20 million US dollar facility.

"We took the money from China Development Bank," Perera told an investor forum in Colombo.

"Proparco, we still have a little time, so we are waiting because we are quite liquid right now."

The bank also raised 62.5 million US dollars from a one-year syndicated loan in March 2012 and it is wrapping up a 100 million dollar loan this week.

In 2012 Sampath Bank group reported profits of 5.2 billion rupees up 25.6 percent from a year earlier (stand alone bank profits were up 31.6 percent to 5.0 billion rupees).

The bank grew loans 23.7 percent with the help of foreign finance topping an 18 percent ceiling imposed by the regulator for loans with domestic resources.

Officials said foreign finance helped boost net interest margins and helped avoid taking very high cost domestic deposits.

http://www.lbo.lk/fullstory.php?nid=2088225001

prabath


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Mar 20, 2013 (LBO) - Sri Lanka's Sampath Bank has signed up medium term credit facilities from Chinese and French development finance institutions, managing director Aravinda Perera said.
China Development Bank had loaned the bank 45 million US dollars for 5-years, and Proparco, a French development agency had agreed to give an 8-year 20 million US dollar facility.

"We took the money from China Development Bank," Perera told an investor forum in Colombo.

"Proparco, we still have a little time, so we are waiting because we are quite liquid right now."

The bank also raised 62.5 million US dollars from a one-year syndicated loan in March 2012 and it is wrapping up a 100 million dollar loan this week.

In 2012 Sampath Bank group reported profits of 5.2 billion rupees up 25.6 percent from a year earlier (stand alone bank profits were up 31.6 percent to 5.0 billion rupees).

The bank grew loans 23.7 percent with the help of foreign finance topping an 18 percent ceiling imposed by the regulator for loans with domestic resources.

Officials said foreign finance helped boost net interest margins and helped avoid taking very high cost domestic deposits.

http://www.lbo.lk/fullstory.php?nid=2088225001

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Welcome our new News poster.

This new is already in the forum.
http://forum.srilankaequity.com/t26756-sri-lanka-s-sampath-bank-signs-up-development-credit-from-china-france

Now you can understand posting news also need some skill.

prabath


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Redbulls wrote:Welcome our new News poster.

This new is already in the forum.
http://forum.srilankaequity.com/t26756-sri-lanka-s-sampath-bank-signs-up-development-credit-from-china-france

Now you can understand posting news also need some skill.

Looks like our newspaper boy is experienced.Let's see from tomorrow onwards who'll will.

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@prabath wrote:
@Redbulls wrote:Welcome our new News poster.

This new is already in the forum.
http://forum.srilankaequity.com/t26756-sri-lanka-s-sampath-bank-signs-up-development-credit-from-china-france

Now you can understand posting news also need some skill.

Looks like our newspaper boy is experienced.Let's see from tomorrow onwards who'll will.

So many came here to post the news and disappeared in a short period. Consistancy is the biggest problem.
Anyway wish you all the best.

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