RAM Ratings Lanka reaffirms Sampath Bank's ratings at AA/P1

RAM Ratings Lanka has reaffirmed Sampath Bank PLC's long and short-term financial institution ratings at AA and P1, the long-term rating carries a stable outlook. The ratings are supported by the Bank's healthy asset quality and capitalisation as well as its good market position.

Although a relatively new bank, with an operating history of less than 25 years, Sampath has emerged as the country's fourth largest private-licensed commercial bank ("LCB"), accounting for 6.23 percent of the industry's asset base as at end December 2010.

It is also the country's sixth largest LCB, in an industry dominated by two state banks that accounted for around 42.52 percent of industry assets as at the same date.