Income Statement
Interest
Income of the Bank stood at LKR 52.3Bn while interest expenses stood at LKR
32.8Bn reflecting a Net Interest Income (NII) of LKR 19.5Bn with an annual
growth of 4.6% in the year under review. The main contributor for NII was the
loans and advances portfolio that generated interest income of LKR 41.7Bn
during the year whilst the Treasury operations generated LKR 8.5Bn in interest
income. Interest expenses on deposits stood at LKR 27.8Bn recording a decline
from LKR 30.7Bn from the previous year. Deposits that were re-priced during the
year helped the Bank to reduce its funding cost.
Financial
Performance for the Year 2020
Sampath
Bank recorded a decline in Profit After Tax (PAT), from
Rs 11.1 Bn in 2019 to Rs 8 Bn for the year 2020. Despite this being a 28%
decline, it is nonetheless a noteworthy result against the backdrop of the
COVID-19 induced economic slowdown locally and globally. Meanwhile, the Bank
registered a Profit Before Tax (PBT) of Rs 11.2 Bn compared to Rs 15.5 Bn
recorded in 2019, a decline of 27.9%.
The
PBT and PAT of the Group for the year ended 31
st December 2020 stood
at Rs 11.9 Bn and Rs 8.4 Bn respectively, denoting a decline of 27.2% and 27.6%
respectively.
Fund
Based Income (FBI)