Sampath Bank maintains sustainable growth policy
View(s):Sampath Bank produced strong results for the nine months ended 30th September 2021, despite the challenges caused by prolonged impact of the COVID -19 pandemic.
The bank reported a profit after tax (PAT) of Rs. 8.98 billion and profit before tax (PBT) of Rs. 12.32 billion for the period under review, a significant growth of 76.4 percent each over the corresponding period in 2020, it said in a media release.
The bank recorded a sizable 30.9 percent increase in fee and commission income during the period, primarily driven by cards, electronic channels and trade-related operations. The Sampath Group recorded a PBT of Rs. 13.48 billion and PAT of Rs. 9.79 billion compared to the PBT of Rs. 7.30 billion and PAT of Rs. 5.21 billion recorded in the corresponding period.
As in the past, Sampath Bank supported its customers and employees in dealing with the disruption from pandemic-related difficulties. The bank’s digitalisation strategy continued to prove its worth by ensuring an easier and safer banking experience for customers and enabling employees to seamlessly switch to the work from home environment during the period of lockdown. The bank also introduced touchless Cash withdrawals at ATMs for the first time in Sri Lanka and possibly the first time in the region.