By J. Kurukulasuriya
Currently Siyapatha Finance Company is in negotiations with the bank, explanatory notes to the accounts indicate.
Overall group income increased 21% to Rs 48 million, but this did not help the bottom line due to several factors – a Rs 6.5 million rise in interest expenses, a 34% fall in "other operating income" to Rs 2,716 million, and a 595% "collective impairment" reversal of Rs 3,008 million.
The balance sheet of the group indicated improvements in "Reverse repurchase agreements", to Rs 18,043 million – up 450%, and "financial investments held to maturity, up to Rs 1,845 million, from 10 million.
The bank has a stated capital of Rs 4,460 million, and reserves of Rs 27,210 million.
During the year the bank credited itself with Rs 9.65 million worth of unclaimed dividends.
The company has 167 million shares on issue. 85% of the shares are held by the public, and 15% by directors and their associates. Vallibel One PLC holds 15% of the shares in the bank, The Employees' Provident Fund holds 9.98% of the shares.
Directors have recommended a final cash dividend of Rs 8.00 per share to be paid for the financial year ended 31st December 2013. This dividend is to be approved by the shareholders at the AGM to be held on 31 March 2014.
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Ceylon FT: Sampath Banking group have shown a 33% fall in operating profits to Rs 3,367 million for the year ended 31 December 2013, its usual financial year close.
The Central Bank of Sri Lanka, requested all finance companies to take necessary steps to comply with the financial sector consolidation programme which was announced after the last budget.
Currently Siyapatha Finance Company is in negotiations with the bank, explanatory notes to the accounts indicate.
Overall group income increased 21% to Rs 48 million, but this did not help the bottom line due to several factors – a Rs 6.5 million rise in interest expenses, a 34% fall in "other operating income" to Rs 2,716 million, and a 595% "collective impairment" reversal of Rs 3,008 million.
The balance sheet of the group indicated improvements in "Reverse repurchase agreements", to Rs 18,043 million – up 450%, and "financial investments held to maturity, up to Rs 1,845 million, from 10 million.
The bank has a stated capital of Rs 4,460 million, and reserves of Rs 27,210 million.
During the year the bank credited itself with Rs 9.65 million worth of unclaimed dividends.
The company has 167 million shares on issue. 85% of the shares are held by the public, and 15% by directors and their associates. Vallibel One PLC holds 15% of the shares in the bank, The Employees' Provident Fund holds 9.98% of the shares.
Dhammika Perera is Chairman of Vallibel One PLC as well as Sampath Bank PLC and the total shares held by Vallibel One PLC is categorized under "institutions".
During the last quarter ended 31 December, the shares traded at a high of Rs 179 and low of Rs 161.60.
During the last quarter ended 31 December, the shares traded at a high of Rs 179 and low of Rs 161.60.
Directors have recommended a final cash dividend of Rs 8.00 per share to be paid for the financial year ended 31st December 2013. This dividend is to be approved by the shareholders at the AGM to be held on 31 March 2014.
www.ceylontoday.lk
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