Fitch rates Sampath Bank’s Basel III – Subordinated Debt ‘BBB+(EXP)(lka)’

Fitch Ratings – Colombo – 07 Nov 2024: Fitch Ratings has assigned Sampath Bank PLC’s (A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’.

The proposed debentures, which will mature in five years, will be listed on the Colombo Stock Exchange. The bank plans to use the proceeds to strengthen its Tier 2 capital base. The bank expects the proposed debentures to qualify as Basel III-compliant regulatory Tier 2 capital.

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