Sri Lanka's Sampath Bank net down 31-pct

Jeremy · 1 Sri Lanka's Sampath Bank net down 31-pct Sat Mar 01, 2014 9:48 am

Jeremy

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Feb 28, 2014 (LBO) - Profits at Sri Lanka's Sampath Bank Plc fell 31 percent to 1.0 billion rupees, in the December 2013 quarter from a year earlier, amid higher loan losses, interim accounts showed.

The group reported earnings of 6.37 rupees for the quarter. In the year to December Sampath reported earnings of 21.67 rupees, on total profits of 3.6 billion rupees, down 33 percent.
The group said interest income rose 8.2 percent to 10.2 billion rupees, interest expenses rose 9.8 percent to 6.7 billion rupees and net interest income rose at a slower 5.4 percent to 3.5 billion rupees for the quarter.

Fee income rose 18 percent to 710 million rupees. The group reported 257 million rupees gain on financial instruments.

Loan losses charges rose to 907 million rupees for the quarter with general provisions of 753 million rupees.

The bank reported strong loan growth of 24 percent to 265 billion rupees in the year to December 2013, among the highest recorded in the sector for the year.

Deposits also rose 23 percent to 300 billion rupees.

Gross assets rose 24 percent to 391 billion rupees and net assets rose 14 percent to 31.6 billion rupees.

VALUEPICK · 2 Re: Sri Lanka's Sampath Bank net down 31-pct Sat Mar 01, 2014 11:32 am

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Thank you for the link. Every industry has up and down. Companies cannot make higher profits every quarter. This gem should shine in the mid and long run.

serene · 3 Re: Sri Lanka's Sampath Bank net down 31-pct Sat Mar 01, 2014 12:09 pm

serene

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Gold Loans might also have been played a major role

VALUEPICK · 4 Re: Sri Lanka's Sampath Bank net down 31-pct Sat Mar 01, 2014 12:14 pm

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It is up by 1% on Friday. Could go above Rs.200. Year end EPS around 20.45. Gold may come down. They have other businesses too.

Lalindra · 5 Re: Sri Lanka's Sampath Bank net down 31-pct Sat Mar 01, 2014 10:56 pm

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GMNet wrote:Feb 28, 2014 (LBO) - Profits at Sri Lanka's Sampath Bank Plc fell 31 percent to 1.0 billion rupees, in the December 2013 quarter from a year earlier, amid higher loan losses, interim accounts showed.

The group reported earnings of 6.37 rupees for the quarter. In the year to December Sampath reported earnings of 21.67 rupees, on total profits of 3.6 billion rupees, down 33 percent.
The group said interest income rose 8.2 percent to 10.2 billion rupees, interest expenses rose 9.8 percent to 6.7 billion rupees and net interest income rose at a slower 5.4 percent to 3.5 billion rupees for the quarter.

Fee income rose 18 percent to 710 million rupees. The group reported 257 million rupees gain on financial instruments.

Loan losses charges rose to 907 million rupees for the quarter with general provisions of 753 million rupees.

The bank reported strong loan growth of 24 percent to 265 billion rupees in the year to December 2013, among the highest recorded in the sector for the year.

Deposits also rose 23 percent to 300 billion rupees.

Gross assets rose 24 percent to 391 billion rupees and net assets rose 14 percent to 31.6 billion rupees.

Sampath reported a EPS of 20.45 for the Y./E 2013 against 31.04 in 2012
Its NAVPS is 169.37 for 2013 against 154.24 in 2012
ROE for 2013 is 12.69 against 22.30 in 2012 ROA is 1.30 against 2.60 in 2012
The current price of SAMP reflects the negative results except for NAVPS.