Re: SAMP.N0000 (Sampath Bank PLC)

[lanka]

Thanks,

[The Invisible]

Sampath recovered by Rs11 within the day. I wonder what the sellers @ 220/- few days back are thinking/doing now. Probably they are buying back @ 230/- again

[Brave Heart]

Yes super recovery. This shows Sampath cant be suppressed at artificially low prices for so long. A small market stimuli would be enough for it to come back towards the true value.

[Brave Heart]

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there is a strong support around 210. since the support 235 broken and the bear trend is much strong, it can be expected SAMP to come down further and reversal around 210.
Looks like support came around 220 and now targeting the first resistance around 250/-.
we'll see

[The Invisible]

SAMP chart. Highly likely to reach 250 in the short term.[You must be registered and logged in to see this image.]

[කිත්සිරි ද සිල්වාTop contributor]

Technical Analysis chart -  SAMP.N0000

[The Invisible]

Sampath Bank Sep net slightly down on NPLs

ECONOMYNEXT - Despite improving interest margins, profits at Sri Lanka's Sampath Bank Plc fell a marginal 0.8 percent from a year earlier to 2.88 billion rupees in the September 2018 quarter on higher provisioning for bad loans and trading losses, interim results showed.

The bank reported earnings of 10.90 rupees a share in the quarter. In the nine months to end September, earnings were 37.52 rupees a share on a profit of 9.9 billion rupees, up 13.2 percent from a year earlier, accounts filed with Colombo Stock Exchange showed.

The banking stock was trading 1 rupee higher at 233 rupees on Tuesday.

In the quarter, net interest income grew 31.2 percent from a year earlier to 10.22 billion rupees as interest income increased 19.4 percent to 26.3 billion rupees and interest costs grew a slower 12.9 percent to 16 billion rupees.

Net fees and commission incomes grew 23.2 percent to 2.6 billion rupees.

The bank reported a trading loss of 1.2 billion rupees in the quarter, down from a profit of 251 million rupees a year earlier.

Other operating income rose 350 percent to 2.9 billion rupees.

Bad loans provisioning surged 383.5 percent to 3.94 billion rupees due to the adoption of strict accounting standards and non-performing loans rising.

Gross non-performing loans were 4.25 percent of total loans at end September 2018, up from 1.64 percent nine months earlier.

Operating expenses rose 8.5 percent to 5 billion rupees which includes personnel costs of 2.3 billion rupees, down a marginal 0.5 percent a year earlier.

Sampath Bank's loan book expanded 12.2 percent from nine months earlier to 658 billion rupees at end December 2017 while deposits grew 7.3 percent to 680.8 billion rupees.

The banking group's interest margin improved to 4.27 percent in this period, up from 3.91 percent nine months earlier.

The bank's Tier I capital adequacy ratio was 11.67 percent at end September 2018, up from 10.21 percent nine months earlier and above the minimum Basel III regulatory requirement of 8.875 percent.

Total capital adequacy was at 15.61 percent, up from 14.33 percent nine months earlier and above the regulatory minimum of 12.875 percent. (COLOMBO, 13 November 2018)

[PANTOMATH]

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[ruwan326]

Sri Lanka's Sampath Bank profits down amid loan losses
Feb 15, 2019 


Sri Lanka's Sampath Bank said its net profits for the December 2018 quarter fell 31.8 percent to 2.7 billion rupees from a year earlier amid a steep write-down of bad loans.

The firm's earnings per share for the quarter were 9.88 rupees, interim financials released at the Colombo Stock Exchange said. Net profits for the 2018 year fell 0.6 percent to 12.6 billion rupees with earnings per share of 46.85 rupees.

Sampath Bank's share was trading at 238 rupees, Friday.

Interest income for the December 2018 quarter grew 20.7 percent to 28 billion rupees from 2017, while interest expenses grew 11.9 percent to 16.4 billion rupees and gross interest income grew 35.5 percent to 11.6 billion rupees.

Other operating income was up 306.2 percent to 2.8 billion rupees.
The firm's loan book grew 15.3 percent from a year earlier to 675.9 billion rupees at end-December.

A change in accounting standards saw provisions for bad loans in the quarter grow to 4.2 billion rupees from 370.5 million rupees a year earlier.
"The bank’s loan growth slowed down during the year predominantly due to low credit demand," a statement said.

Over the year to December, group gross loans grew from 595 billion rupees to 697 billion rupees and non-performing loans grew from 9.3 billion rupees to 21 billion rupees.
Bad loans as a portion of total loans grew to 3.69 percent from 1.64 percent a year earlier.

The bank said weak economic conditions resulted in falling credit quality.
The Central Bank printed money in April to cut rates, just as the credit system recovered from a 2015/2016 balance of payments crisis, triggering another run on the rupee.
The Central Bank is targeting inflation (cutting rates saying inflation was low) despite having mutliple convertibility undertakings (a peg), with predictable results.

Deposits grew 10.2 percent from a year earlier to 699.7 billion rupees.
Sampath Bank's core capital adequacy ratio grew to 12.08 percent from 10.26 percent a year earlier, against a regulatory minimum of 8.875 percent with new funds being raised.
Total capital adequacy ratio grew to 15.73 percent from 14.41 percent against a regulatory minimum of 12.875 percent.

Sampath's asset base grew 15 percent to 947.8 billion rupees, while net assets per share were up 1.1 percent to 320.58 rupees.

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[lanka]

Thanks, Ruwan

[harieshaTop contributor]

SAMP has ruined, otherwise a highly positive day. Sri Lanka has got the extension requested for the IMF program.

By the way, what would be the fair value for SAMP with the new announcement for rights. As per yesterdays closing price it should be Rs.207/-. But when considering EPS for immediate quarter it's in the range of Rs.175-190. Seem to be attractive below Rs.190.00. But should be aware most recent quarter is a subdued quarter.

I think CDB also should adopt this strategy rather that waiting for market recovery.

[LSETech Contributor]

Be careful when trading with SAMP at this moment guys...

[Fireandwater]

Rs.190 is not a good price as it is the average of the share after the rights. (Considering the dividend as a given). Also remember that there are so many internal stakeholders at Sampath who own the share. They might buy at 136 and sell immediately at any upside. This is what happened in the past. Please be careful with this. This is a great opportunity if you take a calculated decision on this share as it is a strong share to have in the portfolio. This is what I think and my honest opinion. So dont get carried away please.

[yellow knifeTop contributor]

2018

Sampath Bank has performed extremely well in the year 2018 by aggressively increasing its revenue. Even-though the revenue has grown up by 24% on YoY basis PAT has increased by mere 0.3%.

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[yellow knifeTop contributor]

Sampath Bank has been a prominent dividend payer and the company seems to be happy with their own policy.

" This is the ninth consecutive year in which the Bank has succeeded in maintaining the dividend payout ratio above 36%".

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[yellow knifeTop contributor]

Market price and Net Assets per share

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[yellow knifeTop contributor]

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It seems growing dividends have slowed down.

[yellow knifeTop contributor]

Revenue growth compared to previous year shows a closely knit performance in the sector.

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[yellow knifeTop contributor]

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[LSETech Contributor]

Be careful when trading with SAMP at this moment guys...

[PANTOMATH]

Good info YK,Thank you for the presentation.

My assumption on possible rights issue is right.I wrote about it on October.
SAMP announced 3 rights issues in very shorter period of time.That damaged investor confident in a big way.
If this right issue succeeded,There won't be more rights for couple of years at least.
SAMP share might fall a bit after rights shares get listed.Then It'll be a very good chance for Long term collectors.

[LSETech Contributor]

   

Be careful when trading with SAMP at this moment guys...

[NIRMALSG]

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Based on the Rights price and current market situation it's still not the right time to enter in to SAMP. It getting red day by day with red candles.
But definitely this is one of great stock on Banking sector.

[harieshaTop contributor]

Why SAMP chairman resigned all of a sudden? Does the excessive rights cost him the post?

Have the shareholders approved the rights? Does any body attended the AGM?

[NIRMALSG]

It seams it got approved according to CSE announcement.

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