SAMP Results

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

Rapaport

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3rd QTR profit down 19.7%
9 month profit down 34%

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

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

Leon

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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...

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

ccsentha

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@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.

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

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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

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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

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

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@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 .

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

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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

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

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@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

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

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@ 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?

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

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@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.

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

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@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?

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

seek

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@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

I have allocated around 40% of my PF on tea brokers and hydro power. Will see?

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

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@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%

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

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@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?

Jana1 · 15 Re: SAMP Results Mon Nov 11, 2013 12:27 pm

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@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

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...

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

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බැංකු බංකු වෙන කාලේ ...... පරිස්සමින් ....සම්පත් බැංකුව ටිකක් රිස්කි

pavithra.hemash · 17 Re: SAMP Results Mon Nov 11, 2013 2:49 pm

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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

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

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@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

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

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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

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

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@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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SAMP Results

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

Rapaport

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

Leon

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

ccsentha

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

Gaja

5 Sri Lanka's Sampath Bank net down 19-pct on loan losses Fri Nov 08, 2013 8:57 am

Redbulls

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

traderathome

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

ccsentha

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

traderathome

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

Gaja

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

ccsentha

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

Gaja

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

seek

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

Chinwi

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

smallville

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

Jana1

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

salt

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

pavithra.hemash

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

rainmaker

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

Slstock

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

rainmaker

21 Re: SAMP Results

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