Equally importantly, Sampath Bank played a vital role in stabilizing the economy through the disbursement of the relief package for COVID affected businesses and individuals. Sampath Bank also actively participated in disbursing the Saubhagya Renaissance scheme to eligible customers. Operating ExpensesThe Bank’s total operating expenses, which amounted to Rs 5.1 Bn in 1Q 2020, increased by 6.9% to Rs 5.5 Bn in 1Q 2021. As per the announcement dated 12th February 2020, income tax rate applicable for the Banking sector was reduced to 24% with effect from 1st January 2020. This successful debenture issue reiterates the confidence the investors have placed on Sampath Bank.

Source: The Nation May 12, 2021 10:02 UTC