Friday, July 29, 2011

Sampath Group profits up 56 percent

Sampath Bank Group which comprises of Sampath Bank and four subsidiary companies, continued its growth momentum in the 1st half of 201l, by posting impressive results in all key areas over the last year same period.

Pre-Tax Profit of Rs. 2,977 Mn of the Group for the 1 H 201l was a growth of Rs. 1,092 Mn or 57.9 percent, over the previous year’s pre-tax profit of Rs. 1,885 Mn, with Sampath Bank contributing bulk (94.24 percent) of the profit, as the main entity of the Group. The post - tax profit of the Group for the 1H 2011which amounted to Rs. 2,131 Mn, recorded a growth of Rs. 765 Mn or 56 percent, over the post-tax profit of Rs. 1,366 Mn for the same period last year. Marked improvements in the performance of all four subsidiary companies during the period under review facilitated recording this higher profit growth rate at the group level in 2011.

The Bank’s pre-tax profit of Rs. 2,805 Mn in the 1H 201l, reflected an increase of Rs. 1,033 Mn or 58.3 percent over the pre-tax profit of Rs.1,772 Mn for the 1H 2010. The post –tax profit of the Bank recorded a growth of 52.7 percent over the same period of last year, rising from Rs. 1,302 Mn in 2010 to Rs.1, 988 Mn in 2011.

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