Sampath Bank’s Rs. 6 b debenture oversubscribed

Thursday, 16 June 2016 00:00 - - {{hitsCtrl.values.hits}}

Sampath Bank’s Rs.6 b subordinated debenture issue was successfully oversubscribed on the opening day in a strong expression of investor confidence which was evidenced with applications over the value of Rs.6 b being received, exceeding the initial 40 million debentures plus the additional 20 million debentures on offer. The Issue was closed at 4:30 p.m. on the opening date, 6 June.

A Sampath Bank spokesman, commenting on the success of the issue, said “We are pleased with the overwhelming response for this debenture issue as it highlights the positive investor confidence in our bank.”

The issue drew investors from a large cross section of investors ranging from retail investors to corporates, pension and trust funds and insurance funds to name a few.

Funds raised via this debenture will be utilised to strengthen the bank’s Tier II Capital and finance the asset growth of the bank.

Sampath Bank,among the nation’s premier banks, pioneers in providing innovative banking solutions to customers and has played a prominent role in developing Sri Lanka’s retail banking by offering unique technology-oriented products and services such as internet banking, mobile banking and foreign currency ATMs.

Sampath Bank was recently awarded with the prestigious ‘Best Managed Bank Award 2016’ and the ‘CEO Leadership Achievement Award 2016’ which honouredAravindaPerera, Sampath Bank’s Managing Director and the ‘Bank of the Year – 2015’ awarded by the prestigious ‘The Banker Magazine of Financial Times, London’.