Thursday, 13 August 2020 15:37

Sampath Bank’s assets crossed the Rs One Trillion mark for the first time

While the economy and the banking sector as a whole continued to face unprecedented challenges due to the COVID-19 pandemic, Sampath Bank’s total assets crossed the Rs One Trillion (1 Tn) mark for the first time in its history.

Reaching this milestone in the span of just 33 years, probably makes Sampath Bank the youngest business organisation in Sri Lanka to achieve this significant milestone.

During this difficult period the Bank redoubled efforts to serve its valued customers, who were severely impacted by the prolonged lockdown, to overcome the challenges and hardships faced by them.

By leveraging its IT supremacy and substantial investments made in technology platforms and the widespread branch network, Sampath Bank was able to operate seamlessly during this time of disruption.

The Bank was quick to implement all the relief measures introduced by the government, with approximately 50% of the Bank's loan portfolio being granted relief under the government announced moratorium scheme.

Sampath Bank registered a profit before tax (PBT) of Rs 5.32 Bn and a profit after tax (PAT) of Rs 3.97 Bn for the six months ended 30th June 2020.

(LIN)

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