Sampath Bank shows strong Q1 performance
View(s):Sampath Bank, as of April 17, has been officially designated as a Domestic Systemically Important Bank (D-SIB) by the Central Bank of Sri Lanka.
The bank has been classified under Bucket 1, reflecting its significant role in maintaining the stability and resilience of the national financial system and underscores Sampath Bank’s critical importance to the country’s financial sector, the bank said in a media release.
Revealing its 1Q 2025 results, the bank said Profit Before Tax (PBT) was Rs.13.4 billion and a Profit After Tax (PAT) was Rs.8.3 billion reflecting growth rates of 115 per cent and 149 per cent respectively, compared to the same 3-month period in 2024. Similarly, the Sampath Group posted a PBT of Rs.14.3 billion and a PAT of Rs.8.9 billion, demonstrating growth rates of 107 per cent and 135 per cent respectively.
The bank reported a total interest income of Rs.44.0 billion for the 3-month period representing a decline of 10 per cent compared to the corresponding period in the previous year. This decrease was primarily driven by a lower AWPLR and reduced yields on government securities seen during the period.
In the first quarter of 2025, the bank recorded a substantial improvement in total non-fund based income, which rose sharply to Rs.8.8 billion from Rs.0.7 billion reported during the corresponding period of the previous year.
The bank reported a total exchange gain of Rs.1.2 billion in 1Q 2025, in contrast to a loss of Rs.4.3 billion recorded in the corresponding period of the previous year, primarily due to the depreciation of the LKR against the USD by Rs 3.02.
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