Sampath Bank makes commercial property renting unit fully-owned subsidiary

Sampath Bank PLC yesterday said it purchased 2.88 percent shares of Sampath Centre Ltd, a company in the business of renting commercial property, making it a fully-owned subsidiary of the bank.
Sampath Centre Ltd owns and manages the building at No: 110, Sir James Peiris Mawatha, Colombo 2, where Sampath Bank head office is located. 
In 2015, a rental income of Rs.260 million was earned by the company for the 166,899 square feet of floor space rented out to the head office, Sampath Bank annual report stated.