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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » SAMP Results

SAMP Results

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1SAMP Results Empty SAMP Results Thu Nov 07, 2013 5:03 pm

Rapaport

Rapaport
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
3rd QTR profit down 19.7%
9 month profit down 34%

http://www.cse.lk/cmt/upload_report_file/431_1383821000.pdf

2SAMP Results Empty Re: SAMP Results Thu Nov 07, 2013 10:21 pm

Leon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I gave up my all speculative shares and got in to SAMP,HNB and JKH. Now two of them have recorded bad quarter results. Well done. Keep it up...

3SAMP Results Empty Re: SAMP Results Fri Nov 08, 2013 5:01 am

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
@Leon wrote:I gave up my all speculative shares and got in to SAMP,HNB and JKH. Now two of them have recorded bad quarter results. Well done. Keep it up...


What do you mean?? They infact have made good results, specially samp.

4SAMP Results Empty Re: SAMP Results Fri Nov 08, 2013 6:05 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Samp, see the lending PF, 61 Billion in Term Loans, closely followed by 58 Billion in Pawning, of which 11 Billion is due for more than 12 months, thats worrying me now!

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Nov 08, 2013 (LBO) - Profits at Sri Lanka's Sampath Bank group fell to 859 million rupees in the September 2013 quarter, down 33 percent from a year earlier, on loan loss charges, interim accounts showed.

The group reported earnings of 5.12 rupees per share for the quarter. For the nine months to September the firm reported earnings of 15.30 rupees per share on total profits of 2.5 billion rupees which were down 33 percent.

In the September quarter interest income rose 29 percent to 11.1 billion rupees, interest expense rose at a slower 20 percent to 6.7 billion rupees allowing the bank to grow net interest income 44 percent to 4.4 billion rupees.

Fee and commission income were also up 24 percent to 650 million rupees.

The bank made specific provisions of 150 million rupees and general provisions of 1.1 billion rupees in the quarter for non performing loans.

Sampath has a large exposure to gold-backed loan and has been making provisions.

International gold prices rose sharply amid Federal Reserve money printing over several years, but the bubble collapsed earlier this year.

Sri Lanka's banking sector got exposed to gold loans due to long established banking practices and regulatory gaps related to gold-backed loans.

In the nine months to September the bank reported strong loan growth of 18.2 percent to 212 billion rupees. Deposits grew 13.6 percent to 276 billion rupees.
http://www.lankabusinessonline.com/news/sri-lankas-sampath-bank-net-down-19-pct-on-loan-losses/1341109460

6SAMP Results Empty Re: SAMP Results Fri Nov 08, 2013 9:09 am

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Gaja wrote:Samp, see the lending PF, 61 Billion in Term Loans, closely followed by 58 Billion in Pawning, of which 11 Billion is due for more than 12 months, thats worrying me now!
The price has reflected almost and in my opinion as stated in my thread the reversal could 160-165 or max 150, but it seems 170 is holding very well .

7SAMP Results Empty Re: SAMP Results Fri Nov 08, 2013 9:11 am

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
Results are better when compared with last quarter.(not when compared with the same quarter previous year)

@Redbulls wrote:Nov 08, 2013 (LBO) - Profits at Sri Lanka's Sampath Bank group fell to 859 million rupees in the September 2013 quarter, down 33 percent from a year earlier, on loan loss charges, interim accounts showed.

The group reported earnings of 5.12 rupees per share for the quarter. For the nine months to September the firm reported earnings of 15.30 rupees per share on total profits of 2.5 billion rupees which were down 33 percent.

In the September quarter interest income rose 29 percent to 11.1 billion rupees, interest expense rose at a slower 20 percent to 6.7 billion rupees allowing the bank to grow net interest income 44 percent to 4.4 billion rupees.

Fee and commission income were also up 24 percent to 650 million rupees.

The bank made specific provisions of 150 million rupees and general provisions of 1.1 billion rupees in the quarter for non performing loans.

Sampath has a large exposure to gold-backed loan and has been making provisions.

International gold prices rose sharply amid Federal Reserve money printing over several years, but the bubble collapsed earlier this year.

Sri Lanka's banking sector got exposed to gold loans due to long established banking practices and regulatory gaps related to gold-backed loans.

In the nine months to September the bank reported strong loan growth of 18.2 percent to 212 billion rupees. Deposits grew 13.6 percent to 276 billion rupees.
http://www.lankabusinessonline.com/news/sri-lankas-sampath-bank-net-down-19-pct-on-loan-losses/1341109460

8SAMP Results Empty Re: SAMP Results Fri Nov 08, 2013 9:12 am

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Leon wrote:I gave up my all speculative shares and got in to SAMP,HNB and JKH. Now two of them have recorded bad quarter results. Well done. Keep it up...
As you know CTBL and ASIY are also expected to give better results for the quarter ....but the price is not moving... so be patient..... I hope you did not jump into the fast moving train with the money bag Shocked 

9SAMP Results Empty Re: SAMP Results Fri Nov 08, 2013 9:34 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@ traderathome,

my concern is that, if they decided to sell the overdue articles then they have to write off the capital loss, at that point what will be the impact?

10SAMP Results Empty Re: SAMP Results Fri Nov 08, 2013 1:07 pm

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
@Gaja wrote:@ traderathome,

my concern is that, if they decided to sell the overdue articles then they have to write off the capital loss, at that point what will be the impact?
They may hold onto it until the gold price go up and then sell it.

11SAMP Results Empty Re: SAMP Results Fri Nov 08, 2013 1:15 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@ccsentha wrote:
@Gaja wrote:@ traderathome,

my concern is that, if they decided to sell the overdue articles then they have to write off the capital loss, at that point what will be the impact?
They may hold onto it until the gold price go up and then sell it.
That Possibility was there, during the period Oct to Dec 2012 they aggressively promoted the pawning, so how much will fall after one year from the balance 40+ Billions?

12SAMP Results Empty Re: SAMP Results Fri Nov 08, 2013 4:49 pm

seek


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@traderathome wrote:
@Leon wrote:I gave up my all speculative shares and got in to SAMP,HNB and JKH. Now two of them have recorded bad quarter results. Well done. Keep it up...
As you know CTBL and ASIY are also expected to give better results for the quarter ....but the price is not moving... so be patient..... I hope you did not jump into the fast  moving train with the money bag Shocked 
I have allocated around 40% of my PF on tea brokers and hydro power. Will see?

13SAMP Results Empty Re: SAMP Results Fri Nov 08, 2013 6:59 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@seek wrote: have allocated around 40% of my PF on tea brokers and hydro power. Will see?
If I disclose my current holdings...

Hydropower 30 %
CFVF & CSEC 23 %
CSD & ETWO 15 %
CI[TK & TW] 12 %
CFLB 6%   (at loss)
Plantations 6% ( at loss )
Banks 0%

14SAMP Results Empty Re: SAMP Results Sun Nov 10, 2013 6:27 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Chinwi wrote:
@seek wrote: have allocated around 40% of my PF on tea brokers and hydro power. Will see?
If I disclose my current holdings...

Hydropower 30 %
CFVF & CSEC 23 %
CSD & ETWO 15 %
CI[TK & TW] 12 %
CFLB 6%   (at loss)
Plantations 6% ( at loss )
Banks 0%
Since u have no financial entities, would you look into COCR & PLC?

15SAMP Results Empty Re: SAMP Results Mon Nov 11, 2013 12:27 pm

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@seek wrote:
@traderathome wrote:
@Leon wrote:I gave up my all speculative shares and got in to SAMP,HNB and JKH. Now two of them have recorded bad quarter results. Well done. Keep it up...
As you know CTBL and ASIY are also expected to give better results for the quarter ....but the price is not moving... so be patient..... I hope you did not jump into the fast  moving train with the money bag Shocked 
I have allocated around 40% of my PF on tea brokers and hydro power. Will see?
I guess you could make good profit if u r patience...

16SAMP Results Empty Re: SAMP Results Mon Nov 11, 2013 2:25 pm

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
බැංකු බංකු වෙන කාලේ ...... පරිස්සමින් ....සම්පත් බැංකුව ටිකක් රිස්කි

17SAMP Results Empty Re: SAMP Results Mon Nov 11, 2013 2:49 pm

pavithra.hemash


Stock Trader
if the gold price high the provision would be reverse it will affect to the other income portion gold price still hovering around 1300 usd

18SAMP Results Empty Re: SAMP Results Sun Feb 09, 2014 5:42 am

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Gaja wrote:Samp, see the lending PF, 61 Billion in Term Loans, closely followed by 58 Billion in Pawning, of which 11 Billion is due for more than 12 months, thats worrying me now!

Yes that is a big problem....

Also compare the interest income in the P/L and that in the cash-flow statement.... someone is accruing interest without actual cash inflow  Razz 

19SAMP Results Empty Re: SAMP Results Sun Feb 09, 2014 6:16 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Gaja,
For forum benefit, would be good to pin point how you deduced "11 Billion is due for more than 12 months, thats worrying me now"

Rainmaker,
Did you spot same issues you mentioned with HNB

( HNB Pawning portfolio is much lower than SAMP though)


@rainmaker wrote:
@Gaja wrote:Samp, see the lending PF, 61 Billion in Term Loans, closely followed by 58 Billion in Pawning, of which 11 Billion is due for more than 12 months, thats worrying me now!

Yes that is a big problem....

Also compare the interest income in the P/L and that in the cash-flow statement.... someone is accruing interest without actual cash inflow   Razz 

20SAMP Results Empty Re: SAMP Results Sun Feb 09, 2014 6:42 am

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@slstock .... page 9 point 8 in the Explanatory Notes

.... Accrual interest is a big problem in the pawning business. If you compare the interest expense in both the P/L and the cash-flow statement you can see the two numbers are very close.

Accrual interest is also a problem in the Finance and microfinance business where interest income earned may just be an accounting entry

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