Sampath Bank PLC group fourth quarter profits increased to Rs. 2.56 billion. It saw net profits rising by 15.2% year-on-year (yoy) to Rs. 1.53 billion.
For the year ended December the group reported earnings of Rs. 53.66 per share on total profits of Rs. 9.5 billion, up 43.3% from a year earlier.
In the December quarter, interest income rose 67% to 17.91 billion rupees and interest expense rose 83 % to Rs. 10.96 billion. The bank grew net interest income 47% to Rs. 6.95 billion.
Net fee and commission income rose 27 % to Rs. 1.92 billion and other operating income rose 52% to 1.01 billion rupees. Individual loan loss provisions dropped 17 % to 187 million rupees while collective provisions rose 802 % to Rs. 364 million.
In the year to December gross loans and receivable grew 22% to Rs. 482.88 billion and deposits grew 26 % to Rs. 513.43 billion.
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