Sampath Bank 2009 net group profits rose 36.8% to 2.0 billion rupees

Sri Lanka's Sampath Bank said its 2009 net group profits rose 36.8 per cent to 2.0 billion rupees (US$17.4 million), while December quarter net was up 72.4 per cent to 689 million rupees with higher interest rate spreads and fee income.

The banking group said in a stock exchange filing December quarter interest income fell 6.2 per cent to 5.1 billion rupees. Interest expenses fell faster 18.3 per cent to 2.98 billion rupees, allowing net interest income to grow 17.4 per cent to 2.2 billion rupees.

Fee income for the quarter was up 57.3 per cent 1.5 billion rupees, despite forex income falling 68.7 per cent to 139.1 million rupees.

Source:

Business in Asia Today - March.3, 2010

published by Asia Pulse