Sampath Bank PLC , Sri Lanka's third largest private sector bank in terms of total assets is hoping to be among top three listed entities in the Colombo Stock Exchange (CSE) in the future, Sampath Bank Managing Director Aravinda Perera said.
He made these observations while participating at the market opening bell ringing ceremony at the CSE.
Sampath Bank is currently the 9th largest listed entity with a market capitalization of Rs. 39 billion. "When we come back next time, we want to be in the top three listed companies," he said.
"In terms of credit growth, we have had a very positive credit growth. We have done better than the average piers during the last three years without exposing ourselves to the government. But other banks have done it with the government exposure."
According to Perera, the bank is also looking to further expand its presence in Myanmar. The Bank has recently opened a representative office in Myanmar. " However, currently we are watching the situation in Myanmar; We think it's still not positive enough for us to make a move there. But if the situation permits us , we will definitely think about it .The bank also has a presence in Bangladesh through 'LankaBangla'.
Meanwhile , CSE Chairman Vajira Kulathilaka said that Maldivian companies are interested in getting listed in the CSE in the Dollar Denominated Board and CSE is ready to allow these companies to be listed if they are willing to conform to our rules and regulations.
"CSE is taking a number of steps to develop into a world-class exchange, bringing in facilities that would be beneficial to all stakeholders."
He noted that establishing a service oriented culture, embracing technology and empowering leadership has helped the bank to transform the Sri Lankan banking industry.
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