Earning Review: Samba Bank endures a decline in net earnings by 18%

MG News | August 27, 2019 at 02:45 PM GMT+05:00

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August 27, 2019 (MLN): Samba Bank Limited has announced earnings of Rs. 359 million (EPS: Rs. 0.36) for the half year period ended June 30, 2019, i.e. approximately 18% less than that of same period last year.

As per the notification issued by the bank, the NII increased by 28.7% on account of increase in interest rates. On the flip side, the non-mark-up income fell by 14% owing to substantial decline in gains made on securities.

Furthermore, the total interest expenses of Samba Bank climbed by 6.5%, despite a huge decline in non-core expenses by 98%.

Profit and loss account for the half year ended June 30, 2019 (Rupees'000)
	June, 2019	June, 2018	% Change
Mark-up / return / interest earned	5,299,449	3,619,687	46.41%
Mark-up / return ./ interest expensed	3,673,083	2,356,544	55.87%
Net mark-up / return / interest income	1,626,366	1,263,143	28.76%
Non mark-up / interest income
Fee and commission income	154,326	131,546	17.32%
Dividend income	30,450	22,146	37.50%
Foreign exchange income	229,621	71,607	220.67%
Income / (loss) from derivatives
Gain / (loss) on securities	6,007	267,226	-97.75%
Other income	270	267	1.12%
Total non-mark-up / interest income	420,674	492,792	-14.63%
Total income	2,047,040	1,755,935	16.58%
Non mark-up / interest expenses
Operating expenses	1,231,943	1,138,775	8.18%
Workers' Welfare Fund	13,341	15,111	-11.71%
Other charges	288	15,663	-98.16%
Total non-mark-up / interest expenses	1,245,572	1,169,552	6.50%
Profit before provisions	801,468	586,383	36.68%
Provisions and write offs - set	-147,769	152,681	-196.78%
Profit before taxation	653,699	739,064	-11.55%
Taxation	-293,917	-298,663	-1.59%
Profit after taxation	359,782	440,401	-18.31%
Earnings per share - Basic & Diluted (Rupee)	0.36	0.44	-18.18%

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