Sampath Bank

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We maintain our TP at LKR 65.00/share (+22.0% upside; +32.4% TSR) and BUY rating. PAT of LKR 2.3bn in 3Q CY21 was driven mainly by solid NII and was supported by Net Fee Income and trading/FX gains. However, this depends on how COVID develops next ye...

We maintain our post-split TP at LKR 65.00/share (+29.5% upside; +37.7% TSR) and BUY rating, given that the current valuations are attractive with the earnings pickup expected in CY21E. 1Q CY21 net profit was up 90.7% YoY mainly on strong trading and...

We increase our TP to LKR 195.00/share (+11.4% to old; +18.2% upside; +24.2% TSR) which translates to LKR 65.00/share based on SAMP’s 3-for-1 share split (effective 17th March 2021). Loan growth of 0.7% QoQ was mainly driven by money market loans, si...

Impairment charges increased 19.7% YoY (+43.7% QoQ) marking an annualized cost of risk of 208bps. The steep rise comes on the back of 1) additional LKR 388mn booked against G-Sec holdings (due to the rating downgrade) and 2) classifying several addit...