Sampath Bank records Rs.5.45 b pre-tax profit

Sampath Bank continued with the growth momentum in the first nine months of 2012, by posting impressive results in many key areas over the corresponding period in the past year, amidst increasing interest rates and shifting of funds towards high cost financing due to the prevailing market conditions. The Bank's pre-tax profit which rose to Rs. 5,453.7 m in the first nine months 2012, reflected an increase of Rs. 1,047.9 m or 23.8 percent over the pre-tax profit of Rs. 4,405.8 m for the First nine months of 2011.

The post -tax profit of the Bank recorded a growth of 23.5 percent over the same period of last year, rising from Rs. 3,060.5 m in 2011 to Rs.3,778.6 m in 2012.

Pre-Tax Profit of the Group, which consists of Sampath Bank and the four subsidiary companies amounted to Rs.5,620.7m. for the First Nine Months in 2012, reflecting a growth of Rs. 950.3 m or 20.3 percent, over the pre-tax profit of Rs. 4,670.4m for the corresponding period in 2011. Sampath Bank, as the main entity of the Group contributing bulk (97.0 percent) of the profit.

The post - tax profit of the Group amounted to Rs. 3,900.5m, recording a growth of Rs. 615.2 m or 18.7 percent, over the post-tax profit of Rs. 3,285.3 m for the same period of the last year.