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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Sampath Bank group surged 67 percent to 2.56 billion rupees in the December quarter

Sampath Bank group surged 67 percent to 2.56 billion rupees in the December quarter

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Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

 Shareholder profits at Sri Lanka’s Sampath Bank group surged 67 percent to 2.56 billion rupees in the December quarter from a year earlier, interim accounts showed.
The group reported earnings of 14.44 rupees per share for the quarter against 8.91 rupees per share last year.
For the year ended December the group reported earnings of 53.66 rupees per share on total profits of 9.5 billion rupees, up 43.3 percent from a year earlier.
In the December quarter, interest income rose 67 percent to 17.91 billion rupees and interest expense rose 83 percent to 10.96 billion rupees. The bank grew net interest income 47 percent to 6.95 billion rupees.
Net fee and commission income rose 27 percent to 1.92 billion rupees and other operating income rose 52 percent to 1.01 billion rupees.
Individual loan loss provisions dropped 17 percent to 187 million rupees while collective provisions rose 802 percent to 364 million rupees.
In the year to December gross loans and receivable grew 22 percent to 482.88 billion rupees and deposits grew 26 percent to 513.43 billion rupees.
As at the end of December 2016, gross non performing advances ratio of Sampath Bank was 1.61 percent, down from 1.64 percent last year.
Net non performing advances ratio was 0.62 percent, up from 0.46 percent last year.
The public shareholding at the end of December 2016 was 83.36 percent comprising of 17,446 public shareholders.
The Board of Directors of the Bank has recommended an interim scrip dividend of 14 rupees and a final cash dividend of 4.75 rupees per share to be paid for the financial year ended 31st December 2016.
Further in compliance with the Bank’s Articles of Association, this dividend is to be approved by the shareholders at the Extra Ordinary General Meeting to be held on 28th February 2017.

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

What a disorienting achievement...
What is your immediate short term price target Harry...

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

immediate short term target price Rs 300.00


Long term target price Rs 350.00

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

So both scrip & cash dividend of SAMP totaling about Rs. 18.75 per share. Isn't it?

jayathu


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

I have quite a bit of samp shares and my mid term target is 280 and long term target is 300.

After the scrip is issued price will come down by at least 10-15 bucks. So hopefully by the tym scrip and cash dividend is issued price will settle around 265 level.

What i predict is by the tym scrip is issued price will come down to 265 level from 275 level And after the cash dividend is issued price will come down to 260 level. From there price will slowly start to appreciate to 280 level within the yr and reach 300 level with the announcement of next yr dividend.

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

WOW

Target

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Very Happy Very Happy Very Happy Very Happy

krishna

krishna
Senior Equity Analytic
Senior Equity Analytic

thank you  Harry82  your comment works  Very Happy

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

As per FT analysis the relative strength is in overbought range which indicates the slow movement of buying pattern. But the forecast still signals to buy as SAMP is still in outperforming stage. Last three days SAMP is in most active shares list.

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