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Financial results declared by Sampath Bank and the Group for the year 2021: Sampath Bank reported profit before tax (PBT) of Rs 16.8 Bn in FY 2021, up by 50.7% against Rs 11.2 Bn recorded in 2020. Profit after tax (PAT) for the year under review also grew by 55.2% to Rs 12.5 Bn from […]
Overview of Global and Domestic Fronts The COVID-19 pandemic has deeply affected local and global economies in 2021. In an effort to minimize health risks, countries around the world have continued to implement containment measures by imposing strict lockdowns and other mobility restrictions. While these measures have succeeded in reducing the spread of the virus,...
By Claude Gunasekera The prevalent Price Gouging of almost all the goods in the country has created a double whammy to the citizens of Sri Lanka despite their hardship with Covid-19 pandemic. Price gouging is illegal during a state of emergency in the laws of consumer protection. Some countries even without laws, issue executive orders […]
The Bank recorded a Profit before tax (PBT) of Rs 6.1 Bn in 1Q 2021 compared to Rs 3 Bn in 1Q 2020, denoting a growth of 101%, while Profit after tax (PAT) increased by 83% to Rs 4.6 Bn from Rs 2.5 Bn recorded in the first quarter of 2020. Resilient performance of all business lines along with the improved credit quality helped bolster Sampath Bank’s performance in the first quarter of 2021. The Sampath Group also registered significant growth in 1Q 2021, as evinced by the improvement in both PAT and PBT in the first quarter of the year. The Group reported a Rs 5.1 Bn PAT and a Rs 6.7 Bn PB...